This Sunday is Father’s Day in the United States and this one is particularly special to me as it will be my first one as a father. This day also is a good reminder to me that I need to be a leader and good example to my children in all areas of life.
My challenge to you fathers today is to step up and take an active role in how your family manages your finances. If your wife handles the finances because you are not a “money guy,” ask her how you can help. It will mean more to your wife than you know. If you are a control freak and handle all the financial decisions without taking any input, allow your wife to be in the discussion. The communication that will come out of it is invaluable. If you both have had your heads in the sand concerning your finances, initiate the conversation to make some changes in how you are managing your money. Teach your children how to give, save, and spend because the earlier they learn, the better. The thing is that all of this does not happen by accident. So fathers, initiate these discussions!
Remember, you do not have to have all the answers and it is OK if you have not handled your money well in the past. What happened in the past is history, but you as a father can take the lead in changing your family’s financial future. The question you have to answer is: are you going to take the lead?