Just about few days back, father’s day was celebrated across the globe. This year, 16th of June was the designated day to show gratitude towards the first Superhero of your life, your Father. Although there is nothing in this whole wide world that can ever pay-off what a father does for his children but celebrating a whole day in his name just revives the memories of his love, care, support, and wisdom.

Even in the stories, we have read ever since childhood, a father is always represented as the bread-earner, backbone, the silent support, and the most reliable of them all. Most of the money matters are left for a father to deal with and make sure to provide for the family now and in the future.

If you look at a father’s life, there is so much you can learn and adapt to but for now we are highlighting the personal finance lessons you have to inculcate from your father this Father’s Day and thank him for being the one he is;


  1. Teaching children to work hard

The first and foremost lesson in personal finance is to make money and to make money you need to work hard. There is a direct correlation between working hard and being rewarded for it, that is why your parents always bribed you for doing a good job and later on made sure to reward you for the same.

Some of you must have spent their summers doing the garden or setting the almiras for whole house or helping out your father with the Diwali lights and so on, every time you lend a helping hand your father always had something for you in return be it some money or chocolate or even a pat on the back, reward is a reward.

Adapt this habit from your father and imbibe it in yourself. Learn to work hard in order to get paid well. Make sure you pass this on to the next generations.


  1. Teaching you how to save

All of us at some point of our lives have had a Piggy Bank and Papa always made sure it remains filled by rewarding us for something we did. By doing so, he made us save for our favorite toy, or barbie house or cycle or book, indirectly teaching us to be patient and save for the thing we want. Most of the times when you had your money saved for the stuff and were ready to buy it, remember your father asking you to keep it for next time and paying himself for your thing?

That is how he taught you to save for the things you want, save for a better future, save for rainy days, be it anything just save.


  1. Sharing his investment ideas

How many of us got bored of listening to our father talking about where he has invested, how is a fund performing, what an uncle of yours’ was suggesting about the investment performing not so well, etc? Why did he have to do all this in front of you? Why would he even ask you about your opinion? This is his way of introducing you to the world of investments. His way of making to think and read about investments and try your hands on it.

You need to learn this from him and teach your children and yourself regarding the basics of investments from an early age. Concepts like inflation, investments, interest rate should be introduced early so that children know how important it is to save and invest for a better and secure future.


  1. Teaching you how to budget

Remember your father asking you where did you spend your pocket money or how much did the groceries cost when you got them for your mother? Most of us felt annoyed and offended on being questioned but never do we realize that he is trying to make us calculated how much we had (total income), how much did we spend (expenses) and what is left (savings)? This is simply budgeting.

Budgeting is the foundation of a secured financial future, the earlier you learn it the better and more rewarding it is. The budgeting principles should be taught while the child is still young and open to new concepts. Such learning must be sustained over the course of growing older and wiser and be followed strictly.


  1. Warning you about debt

With the inflated standards of living and ever-increasing demand, a good budget cannot save you from falling into a debt trap, the one your father has always warned you about. How many times did you get scolded for borrowing Rs.5 to eat a samosa at the school canteen because you did not like the lunch? The point was not that you did not like or eat your lunch but to make you learn that borrowing is not a good habit. Borrowing money is being in debt to the other person even if it is just Rs.5, bad is bad however small it may be.

Most of us have debts we do not even account for like credit card bills or Car loan or home loan etc. people even have personal loan debt on them. That is the most damaging and depreciating thing you can ever do to yourself. Borrowing money just to be on a vacation is not a wise thing to do. It is like renting a few enjoyable days because once you are back, you will have to pay not only the principal amount you have borrowed but also the interest on it. This interest will eat all the good memories you gathered on the vacation.


A father teaches you what struggle life is by protecting you from its harsh strikes. He always makes a point to make you understand that money is not everything but is something, a very important something. What needs to be learned is what you do with the money you have with you and not by defining yourself with that money. They say, ‘Money cannot buy you happiness’ but we say ‘Money can show you the way to happiness’.


Happy Father’s Day; today, tomorrow and forever!