Things I learned from my Dad: Financial Responsibility

It is common knowledge that children learn, more from what they see people do than from what they are told to do. Having said that, my financial responsibility instruction did not come to me verbally, at least not as a formal verbal instruction.

I took for granted the modus operandi: As far back as when I was in primary school, my dad usually had a list of sorts detailing his expected expenses and income. It wasn't uncommon to run into these lists, say while sweeping the parlor. I guess this could especially be necessary for planning purposes for steady low-to-medium income earners. Having said that, I know many an income earner that fall within this category that don't plan for their expected income and as such make little or no deliberate provision for savings.

It was easily a topic for after meals discussion between mom and dad where we were welcome to listen and contribute on occasion. I can't help but wonder if my dad would have been so open about his finances if he was rolling in money. Don't get me wrong, both my parents were civil servants for the better part of their working lives and at the time they constituted part of Nigeria's middle classers. So as far as things went, they were doing well for themselves at the time - looking back I'd say they did well period.

My siblings and I were all sent away to boarding house for secondary school education - all of us got a taste of living off pocket money and provisions before we clocked thirteen. Going hand in hand with taking provisions to school was making lists - items needed and in what quantity. Of course some items always got dropped depending on the available income at the time but it never stopped anyone  of us from pushing their luck.

I vaguely remember having a piggy bank which we broke far too early. It's contents were usually monetary gifts from visitors and it was better to have it in the piggy bank than with mom (who could spend it without a second thought with the intention of 'replacing' it). We were expected to save from our pocket money, which was hardly ever enough in our opinions,  and to that end, my mom opened an account for each of us when I was a young teenager. I remember how excited I was when I received my booklet - how I made plans to save up money just because I had a savings account.

So growing up, I got into the habit of making lists and trying to ensure my pocket money/provisions lasted through the term. It's easy to see how I took that with me into University. I place 'saving' high on my list of things to keep doing and these days I try to make my savings work for me. All else I can hope for is that I can teach same to the young ones around me and my kids.