Recently, I asked the Facebook world to share with me the financial wisdom they gained from their fathers. Many of the fathers told their kids to pay themselves first, live within your means, and give back to your community. Here are a few more nuggets of financial wisdom from our fathers:
Credit cards were invented to be used instead of cash, not to get ahead on financially or buy things you can’t pay for now.
When you want to buy something, determine if it is a need or a want. If it is a want, do not buy it; if it is a need, make sure you have the cash to pay for it.
Don’t pay anyone to do something you can do for yourself.
One Dad had his kids get a credit card at 18, use it every month and pay it off. This helped them to establish credit.
And last but not least: one Dad said “When I die, I hope the last check I wrote bounces”.

disclosures:http://www.hechteffect.net/?page_id=31