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

Family

Asked by 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 (Sep)

Level 9. God of Wisdom
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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Jonathan Ng
Jonathan Ng

on 11 Jun 2019

This is really heartwarming!
Kenneth Lou
Kenneth Lou

on 16 Jun 2019

Really good sharing :) Thanks Elijah for sharing your story here!
Luke Ho
Luke Ho, Money Maverick at Money Maverick
Level 6. 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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Junus Eu
Junus Eu
Top Contributor

Top Contributor (Sep)

Level 8. Wizard
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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Jonathan Ng
Jonathan Ng

on 12 Jun 2019

As the Chinese saying goes, ”心之所在,家之所处。” Home is truly where the heart is! Simple fare at the hawker centre with your loved ones can also bring happiness. :)
Junus Eu
Junus Eu

on 12 Jun 2019

Indeed :)

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

on 18 Jun 2019

Thank You! This is so helpful 👍
Kenichi Xi
Kenichi Xi

on 18 Jun 2019

I didnt listen n outperformed 😱
Jasmine Chye Fong Yee
Jasmine Chye Fong Yee
Level 3. Wonderkid
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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Kenneth Lou
Kenneth Lou, Co-founder at Seedly
Level 8. Wizard
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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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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