Father’s Day is here! Let’s celebrate our first Financial Guru!

It’s rather silly to be commemorating just one day of the year as Father’s Day. After all, the stellar role that a father plays in every individual’s life is too valuable and timeless to be remembered on a single day. We learn our first lessons in compassion, discipline, hard work, responsibility, planning and management from our fathers. It might be the first words we say or the first bank account we open in our own names, it’s daddy who is always present along with us in these critical moments!

Through the childhood years and days of youth, he stands like a rock, protecting and nurturing his child. Once the children grow up and have families of their own, he takes a step back, but is still watching out for the child’s welfare all the time. Rich or poor, healthy or disabled, educated or ignorant – he loves his child unconditionally, his heart doesn’t discriminate. That’s a father for you.

When it is a single income household, the fathers are the sole breadwinners, doing a tight balancing act between their professional growth and home responsibilities. Even if not satisfied with their jobs, they endure it for the sake of maintaining a steady income flow for the family. In cases where the mother is also employed, he shares the burdens of running the family, be it cooking or washing or plaiting his darling daughter’s hair before the school bus arrives!

Irrespective of how educated he is, every father is a natural financial planner. He knows his resources and income sources are limited. But he ensures that all the child’s needs are met. This involves careful planning, smart allocation of resources, sacrificing his own needs at times and saving for tomorrow too.

Fathers are also our first financial Gurus. They teach us the importance of spending cautiously and saving today for a prosperous tomorrow. Starting from our childhood days, it is our fathers who are the first contributors to our piggy bank savings! Subsequently, he always finds a way to fund our small pleasures be it a college trip, movie outing or new clothes. Once the children become financially independent, he simply takes a step back and lets them choose their own life path.

Let’s try and recapture some of the things that any responsible father would do, for the well-being of his family. There are some valuable financial lessons to learn from that.

Live within your means A responsible and caring father is the head of the family. He sets the priorities for the entire family. What matters and what does not. What to spend on and what to avoid. Do you remember your father juggling with 3 credit cards? Not likely. Your father, as was the case in most seniors of the previous generation, would have been a prudent spender. He would set aside a section of his income for long term savings, another section for emergencies, and only then spend the remaining for immediate needs. Irrespective of how much one earns, if we can restrict our expenses within that, that’s a sure recipe of happiness in life.

Balance your priorities – There will always be a million things that might sound like an important expense. But within your father’s limited means, he would manage to spend on your grandparent’s health, your household expenses, your education, a home purchase, and what not! Most youngsters, who are earning their first salaries, do not have any of these responsibilities. But they still find themselves in debt! It’s a critical life lesson to strike a balance between pleasure and contentment.

There are no substitutes for saving – When a young and ambitious person wants to start a business, the first person to entrust his life savings to the business is his father. Getting a foreign college degree, a daughter’s wedding, your dream childhood home. All these beautiful life moments are a result of your father’s careful planning and saving. Savings also help you create a cushion to deal with unexpected financial crises.

Take his advice, he has seen the world – Most youngsters today think it is uncool to follow what their father’s advice. Chart your own course, don’t blindly follow your father’s footsteps – these are all common personality development tips given to youngsters. But many times in life we realize, our father’s have faced similar crises to what we encounter – whether it is a health emergency or job loss or personal tragedy. If only we could learn from our fathers, understand how they dealt with similar situations, we can save ourselves the risk of taking the wrong step. Learning from their wealth of life experiences is a valuable treasure, no management degree can give you that for free!

On the occasion of Father’s Day on June 19th, Shanthala Chits wishes all the fathers out there a wonderful day! Celebrating our fathers and their contributions to our lives is certainly not a once in a year affair. Our love, gratitude and tremendous respect for them is to be expressed every day of our lives. But there is one thing we can do on this Father’s Day. We can remember their financial prudence and apply their advice for the rest of our lives. We can also invest money in their names and ensure a financially secure future for them as they age. Let’s work together to build a happy and prosperous life for our families and make our fathers proud!

About Us:

Shanthala Chits is a Government approved chit fund company with a 25-year successful track record and thousands of satisfied customers. Shanthala Chits is registered under the Chit Fund Act of 1982, the Government of Karnataka. We are one of the most popular chit fund houses in Bengaluru, known for our prompt customer support and secure investments. Get in touch with us and start with an investment scheme. We will be glad to help you out with the right scheme that matches your needs.

Anuradha C

Anuradha is a freelance writer cum corporate trainer in the IT/telecom domain with over 18 years experience. She served in senior technical and management positions in Huawei and TCS for 10+ years. Then gave up the traditional corporate ladder to go solo - in order to escape horrendous city traffic and to be at her own boss!
Anuradha C

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