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10 Tips to Help You Achieve Financial Sufficiency

Updated on July 8, 2014
Fathers can offer great financial advice.
Fathers can offer great financial advice. | Source

Growing Up - Our Needs Were Met

Growing up we did not have a lot of money, but we never went without our needs met. My father worked at the factory, and my mother took care of my three siblings and I. My mom worked odd jobs here and there to bring in a little extra money to the household. She was a cosmetologist; she did hair out of our home. Stick around to find out the ten tips and lessons my father taught me about finances.

We lived in a two-story home, with living quarters on the second floor. My grandmother lived with us until she passed away, and an occasional uncle or cousin had short stints of living with us. My dad later purchased another home a few block over. To me, we looked prosperous. We always had plenty to eat, sometimes too much. We always had transportation, two or three vehicles to drive. And we always had clothes to wear. We shopped at the popular local department store. As I recall when I was a young girl, it was my father who took my sister and I school shopping. He used his Mastercard to make the large purchase. One thing he would always say is, “get what you want, and don’t worry about the price.” We did not go shopping every weekend like some of our kids do today.

We went to church on Sundays, and my dad instructed me to give money to the church. Once I got a job, he taught me to give 10% - tithe to the church. Tithing was the equivalent of giving back to God for blessing you, and the monies would support the church operation and help those in need. I will get to the ten lessons my father taught me about money shortly. Hang on. By age 12, my father had become Pastor of a church.

Great Information About Financial Freedom - 4 Concepts

Do You Live Within Your Means?

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Use credit cards wisely.
Use credit cards wisely. | Source
Leave an inheritance for your children's children.
Leave an inheritance for your children's children. | Source

Dad Took Care of Business

For special days like birthdays and Christmas, my sister and I would get gifts from three of my mother’s brothers. They did not have daughters, and my mom was their only sister. Our Godmother gave us gifts every Christmas.

When I became old enough to drive, my father allowed me to drive one of his vehicles. He made it clear that the vehicle belonged to him, and that it was on loan to me. It did not matter to me; all I wanted was to be able to drive. I drove to high school some days and eventually to my part-time job in my senior year of high school.

One last thing my dad did before I left home. -- He paid for my college education, that which I did not receive in grant money, or save myself, and he paid the majority of my wedding cost.

When my father died, he did not owe anything to anyone or any creditor. Now that is a financial legacy. What do you think? I did promise to let you in on some of the lessons he taught me about finances, almost there. I have practiced all of them at some given point in my life; it is my goal to implement all of them at the same time.

A Father's Teaching Goes A Long Way

It's funny how you say you're not going to do the same things as your parents when you are a kid, but you wind up doing the very same things you said you wouldn't with your own children. I not only do a few things like my father, I do a lot of things like my father did, when it comes to finances. My mother, even continued on the same path after my father when he passed away. He did a great job at training us how to handle money.

Learn The One Factor That Predicts Financial Success

Managing Money In A Tough Economy

There are money principles that never change and will work in any economy. I think the most basic is saving. Saving is like a dirty word though, because we American's barely have any savings, whereby no emergency funds. We have grown accustomed to living on credit. However, the good news is, at any given point in our lives we can turn things around. Saving can be hard when you've lost your job, been downsized or furloughed. But if we can ever get to a place of saving more than we spend, our financial situation will change. What do you think?

10 Tips and Lessons From My Father - To Help You Achieve Financial Sufficiency

  1. Pay Your Bills On Time

  2. Use Credit Sparingly

  3. Set Financial Goals
  4. Save A Portion Of Your Money
  5. Use Cash Whenever Possible (Live Within Your Means)
  6. Give 10% Of Your Income To The Local Church And To Those In Need
  7. Earn Money by Working A Job
  8. Lend Money Only If You Can Afford To Lose It
  9. Take Care Of Your Household Financial Needs First
  10. Invest In Real Estate For An Inheritance For Your Children’s Children.

Thanks for reading, and I hope you found some helpful tips on managing your finances. Feel free to share it with your friends.


Submit a Comment

  • Treasuresofheaven profile image

    Sima Ballinger 6 years ago from Michigan

    pftsusan, thanks for stopping by. Yes, I am glad you agree - if we all look in our history, I am sure we will be able to find some nuggets from family.

    Take care.

  • pftsusan profile image

    pftsusan 6 years ago from Eatontown

    These were good lessons. Voted it up.

  • Treasuresofheaven profile image

    Sima Ballinger 7 years ago from Michigan

    Babs28, thank you for that precious comment. He was a proud man!!

  • profile image

    Babs28 7 years ago

    What a beautiful tribute to your Dad. He would be so proud.:)

  • Treasuresofheaven profile image

    Sima Ballinger 7 years ago from Michigan

    Thanks Andrea, appreciate your comment. You were there -dad handled his money well!

  • profile image

    Andrea 7 years ago

    Great tribute to dad. He would have loved reading this...

  • Treasuresofheaven profile image

    Sima Ballinger 7 years ago from Michigan

    Listen Up! I just remembered something, my Father's Birthday was 1/3, when this Hub was Published - I did not realize this at the time of publication.

  • Treasuresofheaven profile image

    Sima Ballinger 7 years ago from Michigan

    Happyboomernurse, you are so generous and lavish in your accolades. I sure do appreciate your comments. I like that you shared how your financial world was learned. Main thing is, I am glad you figured it out - some people don't.

    Thanks again and again for making this discussion a worthwhile topic.

    I am sure my Dad never new he would be out on the internet like this.

  • Treasuresofheaven profile image

    Sima Ballinger 7 years ago from Michigan

    LoveOurPlanet, it is amazing to me how we got along with less - but now we seem to need so much more. We have a lot to be grateful for.

    Thank you for your thoughtful comment!

  • Happyboomernurse profile image

    Gail Sobotkin 7 years ago from South Carolina

    This was a beautiful tribute to your Dad and I follow the 10 lessons you learned from your father, but I did not learn them through the example of my family. Mom and Dad were good people and both were hard workers but money management and fiscal responsibility were not one of their virtues. I saw the havoc their financial difficulties caused and resolved to live my life differently. So I guess by teaching me what didn't work, they helped me find a way that did work.

    Bless you for passing on your father's wise advice so that others can prosper from it. I rated this hub up, useful, awesome and beautiful.

  • LoveOurPlanet profile image

    LoveOurPlanet 7 years ago from Austin, Texas

    Oh, what a great dad. Sounds a lot like my family. We did not have a good deal of money, either, but it never felt that way to me growing up.