Much has been made over the years about the shortcomings of fathers, particularly when it comes to men of color.  Television, newspapers, and movie screens are often more than eager to portray our men as absent, incarcerated, and addicted rather than provide a healthy balance of positive images to offset this narrative.  But believe it or not there are plenty of examples all around us each day whereby men are setting examples of excellence in their businesses, community and families. So with June being the one month actually set aside to recognize fathers, it’s only fitting that this article provides some key traits of men building a powerful financial legacy.

photo by Gift Habeshaw on unsplash.

A Good Father Teaches Integrity Over Money

One of the greatest and most challenging lessons for a father to teach his children is that of integrity.  Because we live in a society where most people overvalue possessions, many are willing to do almost anything to gain them.  But fathers who go the extra mile to break this mold and demonstrate healthy behavior actually end up teaching a valuable lesson in finance as well.  And that is that money will no doubt come and go in our lifetime, but ultimately our character stays put. Therefore, men who are consistent in their efforts to provide, protect, and promote their households are vital to our community no matter what their occupation or income level.  These are the men that ultimately go on to become great husbands, fathers, and grandfathers for many generations to come.

A Good Father Is More Satisfied Giving Than Receiving

Most men have a deeply embedded belief that hard work is required of them.  They believe that anything worth having is worth fighting for and that at some point it will require sacrificing blood, sweat, and tears in order to keep.  That’s also why they so often gravitate to the sports field where competition, teamwork, and self-sacrifice reign supreme. So when it comes to financial habits, a good father will generally carry a similar mindset in this area as well.  What most men, especially fathers, truly want to see above anything else is their loved ones provided for physically, emotionally, and spiritually. Therefore, when our wives, children, and relatives experience financial stability this gives us a pleasure far above any monetary gift or possession for ourselves.

A Good Father Values Fiscal Responsibility

At some point in every man’s life he will be faced with the choice to save, invest, or repay debts.  In fact, these are often competing priorities that continually exist throughout the remainder of a man’s lifetime hindering their financial goals in the process.  This why the financial habits of fathers are so critical to a family’s overall fiscal health. Men who practice spending within their means, investing at least 10% of their income, and keeping their credit in good standing ultimately teach their family to repeat these exact same behaviors.  Also, good fathers understand that it doesn’t require being excessively wealthy to apply these actions. Rather what it really takes is strong commitment, discipline, and accountability.

Coming from a single-parent house-hold I can personally attest that it’s not always easy to find the healthiest examples of fatherhood.  Often it requires learning on the fly to become a man long before you are adequately prepared with the proper tools and resources. However, I consider it a blessing to have developed and cultivated a strong relationship with my father as an adult male.  And if there was anything my father taught me prior to his passing, it was to keep my integrity intact, become a giver, and be comfortable with my responsibilities. Happy Father’s Day to all the great men out there and especially to my own father, Ronald F. Murray.