Dad Confession: 10 Financial Mistakes I've Made — and How You Can Avoid ThemFrederick J. Goodall
Before I had kids, I was a bit fancy-free with my money. I bought whatever I wanted to whenever I wanted to. I could have gone done a path of financial ruin if a mentor hadn’t intervened. He sat me down and taught me the importance of saving for the future.
“You’re going to get married and have a family one day,” he said. “You need to start making better choices with your finances.”
I heeded his advice and started managing my money better. But many people don’t have a mentor to give them sound financial advice. Consequently, they end up in debt and struggle to make ends meet.
My financial journey hasn’t been perfect. I’ve made several mistakes with my money including one time when I looked at my bank balance and discovered that it was zero.
But I’m not alone. Many dads have made a few financial mistakes over the years. In my experience, these are 10 of the most common financial mistakes dads make:
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