It's Father's Day this Sunday, 16th June! What are some of your father's financial habits that you have modelled after? - Seedly
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Jonathan Ng

Asked on 11 Jun 2019

It's Father's Day this Sunday, 16th June! What are some of your father's financial habits that you have modelled after?

Pretty sure many of us want to show appreciation to the person whom we most lovingly call 'papa', 'pops' or 'lao dou' (in Chinese). But he also wants us to practice financial prudence in spending, so don't break the bank this weekend when you bring your dad out for dinner!

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Elijah Lee
Elijah Lee
Top Contributor

Top Contributor (Jul)

Level 10. Unicorn
Updated on 16 Jun 2019

Dad was (and still is) a taxi driver. If anything, it would be the value of working hard. Even if things knock you down (you won't believe how many people I've heard run off without paying the taxi fare), life will still go on and hence grit and determination are important factors if you want to succeed in life.

And he led a simple life by most standards. I think a clear distinction between wants and needs will help remind us (his sons) what's important in life and how to make every cent count. That daily $7 Starbucks is replaced by a 30cent nescafe coffee stick. That weekly $20 uber ride is replaced by just setting off for your destination 30 mins earlier. All that adds up.

But nothing would beat a good meal with him. That's just once a year after all.

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Kenneth Lou
Kenneth Lou

16 Jun 2019

Really good sharing :) Thanks Elijah for sharing your story here!
Frankie Rappaport
Frankie Rappaport

23 Feb 2020

Beautiful text, beautiful caring family
Luke Ho
Luke Ho, Money Maverick at Money Maverick
Level 7. Grand Master
Answered on 11 Jun 2019

My Dad taught me the value of working hard. He works really long hours, even now in his 60s - finding fulfillment in what he does. When I was younger - I thought I worked hard, and he showed me over and over again that I didn't even know what that meant.

Even though he wasn't around as much as my mum, I felt his presence through what he provided - literal food on the table, amongst other things.

He also saved tremendously during regular days and spent quite lavishly on us during holidays. We had at least two vacations a year, even if they weren't particularly expensive places like Europe - he and Mum always emphasized that it was important for us to experience what they never got to do when they were young, and to do it properly (which I guess was to spend more to get a better experience LOL).

Typically I do most of these things today as well.

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Frankie Rappaport
Frankie Rappaport

23 Feb 2020

Yes, this is a generation thing. how the generations before lived through harder, more frugal times and still (or because?) were happy(ier)?
Junus Eu
Junus Eu
Level 9. God of Wisdom
Updated on 12 Jun 2019

My dad always has the following requirement for food: Cheap and Good. This stems from my father coming from a humble background, and drawing a modest salary as a foreman at a little above $1k a month.

Because of that, we always make our Daddy + Daughter adventures to check out all the good eats at hawkers in Singapore. Having these dinner dates also ensures that we spend time with each other, especially in this day and age where it's easy to 'be busy' and overlook quality time spent with loved ones.

I recall when I was overseas for work, and I missed our usual Sunday kway chap breakfast together as I had to fly out early to US. My heart sank a little when I whatsapped him asking how his Sunday went, and he replied,

'The kway chap is not quite the same when you aren't around; it feels different'.

I always remember that, and always make it a point to spend time with my loved ones, especially my dad, because of that.

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Frankie Rappaport
Frankie Rappaport

23 Feb 2020

Great, yes 'quality time' so much more important than all the money/finance topics
Junus Eu
Junus Eu

24 Feb 2020

I totally agree :)

My Pa told me

赚够用够花就好

不要太辛苦

Dad will always look out for their children.

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Kenichi Xi
Kenichi Xi

18 Jun 2019

I didnt listen n outperformed 😱
Frankie Rappaport
Frankie Rappaport

23 Feb 2020

Thank You!
Jasmine Chye Fong Yee
Jasmine Chye Fong Yee
Level 4. Prodigy
Answered on 11 Jun 2019

My dad was a taxi driver and his discipline in recording and tallying his "accounts" everyday after work was just amazing. He wasn't well-educated but with his basic knowledge he would record down his earnings and spendings (i.e. petrol costs, repair costs, etc) in notebooks neatly.

As a small child, I never knew what he was doing everyday after work and what those notes and numbers were but I understood the importance of this now that I'm working!

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Frankie Rappaport
Frankie Rappaport

23 Feb 2020

Great
Kenneth Lou
Kenneth Lou, Co-founder at Seedly
Level 9. God of Wisdom
Answered on 16 Jun 2019

My favourite learning from my dad who used to be a business Owner doing paper trading.

similar to the mantra in sales: “don’t count your chickens before they hatch”

also known as: “don’t celebrate too early!”

can be linked to finance in every single aspect when it comes to playing the long game.

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Frankie Rappaport
Frankie Rappaport

23 Feb 2020

Yes. true, everything could be changing in a minute
Xinyi Ngew
Xinyi Ngew
Level 2. Rookie
Answered on 16 Jun 2019

Dad taught me to live below my means and save consistently for a rainy day. The ability to save an emergency fund and invest for the long term gives me the confidence to choose work life balance over a demanding job. Thanks to Dad for being a fanstastic role model!

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Frankie Rappaport
Frankie Rappaport

23 Feb 2020

Indeed
Amelia Leow
Amelia Leow
Level 5. Genius
Answered 2w ago

Working hard, taking calculated risks and donating to the needy.

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My dad taught me the importance of frugality. He also taught me that the main purpose of money should be to bring joy to those important to us. So he doesn't skimp when it comes to spending on those he loves. 🙂

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Zi Shuen
Zi Shuen, Economics at NTU
Level 5. Genius
Answered 2w ago

Biggest lesson: do not spend too much on unnecessary things

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j
j
Level 4. Prodigy
Answered 2w ago

One thing I've learnt from my dad is to not be 'penny wise and pound foolish'. While my family is not well to do initially, there are times when my dad makes quality purchases for long-term items (e.g. a good pair of sports shoes, or a quality printer) that makes a lower average 'cost per use' - despite the higher upfront costs, these items generally last longer from higher quality purchases.

Food wise, might be better to go with what your dad enjoys! price is the amount you pay, but value is the satisfaction you get! (for my dad, a nice bowl of porridge n dimsum with the whole family together makes his day! )

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Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Jul)

Level 9. God of Wisdom
Answered on 23 Feb 2020

Oh, that's a nice idea!

#1 learnt about stocks

#2 learnt to give generously

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