Fatherly Financial Advice - Newschannel 6 Now | Wichita Falls, TX

Fatherly Financial Advice

Washington, DC - With Fathers Day over the NFCC Member Agency Executive are offering some fatherly advice.

"If father knows best, then the dads who lead the NFCC agencies are the perfect ones to provide financial tips to the young men of America," said Gail Cunningham, spokesperson for the NFCC.  "These leaders direct over 2,000 NFCC Certified Counselors who deliver expert advice and provide solutions to the more than two million consumers who reach out to an NFCC Member Agency for help each year."

Below are excerpts from the experts:

• Mike Robards, Credit Counseling of Arkansas - "My one piece of financial advice this Father's Day to the young men of America is to be wary of stuff.   I doubt that apple Eve ate was any more enticing than the stuff we men are attracted to today:  season tickets to our favorite team's events, golfing, hunting and fishing equipment, nice trips with friends and family, picking up the tab at the café and the list goes on.  None of these, other than the apple, are bad.  The key is to count the cost, and take the time to get past the initial lure.  Speaking of lures, think about fishing and how that fish on the hook flops around in the boat. That shiny lure must have looked pretty good at one time, but the fish might want to rethink the decision to go after it.  Again, enjoy the wonderful material products available in a country as wealthy as ours.  But think through each purchasing decision and look beyond the shining lure to the end game that could result in financial and marital stress; or with a sound, mature decision, the result could be enjoyment with peace.  I'll take peace of mind over a piece of stuff every time."

• Paul Atkinson, Consumer Credit Counseling Service of Buffalo - "Value your credit reputation as you would value a friend.  They will both serve you well through all economic times."

• Joe Schenkel, FinancialHope Counseling and Education - "My advice draws back on conversations with my father who passed away back in 1989.  He grew up in tough times living through the Depression and wars.  He taught me that nothing can take away your education.  From him I learned the long term value of acquiring knowledge and a solid education.  He also had a saying about work - that it is easier to push a pencil that to push a shovel."

 

• Jay Seaton, Apprisen - "The three tips I've given our 20 year old college son are to understand credit reports and scores; understand the pros and cons of credit and be very cautious about incurring debt, including student loan and credit card debt; understand the time value of money and that by starting at a young age, wealth can be built steadily over time."

• Steve Piotrowski, Advantage Credit Counseling Service - "If it sounds too good to be true, it probably is.  Young people sometimes do not understand that the zero interest for two years on a major purchase has a caveat with it.  If you are late on one payment in that two year period, all the interest will likely be added to the account balance from the date of purchase, and will continue until the account balance is paid in full.  And this doesn't even count the potential late payments and fees.  Be smart by reading the fine print before you take that great deal."

• Ken King, Consumer Credit Counseling Service of Sheboygan - "It is always easier to borrow money than it is to pay it back.   If you think you really need something, first try living without it for a week.  There are two ways of getting everything you want: keep accumulating, or desire less.  To me, the second way is personally the most satisfying."

• Joe Allen Stokes, Consumer Credit Counseling Service of Springfield - "Avoid purchasing those 'big-boy toys' such as a boat or new car, unless the payments can be made without causing a cash-flow issue."

• John Jackson, Consumer Credit Counseling Service of the Mid-Ohio Valley - "It's never too early to start thinking about, planning and saving for retirement.  Many fathers get serious about retirement planning when they start a family, but the earlier retirement savings is worked into a budget, the more rewarding those "Golden Years" can be."

"Taken collectively, this advice is a formula for financial success," continued Cunningham.  "Even if a person only embraces one of these tips, they'll be in a better place than they were last Fathers Day."

To construct a financial path built on solid principles, or to find a solution for an existing financial concern, consider an appointment with a certified consumer credit counselor at an NFCC Member Agency.  To find the agency closest to you, call (800) 388-2227, or en Español call (800) 682-9832), or go online to www.DebtAdvice.org.

  • News HeadlinesNewsMore>>

  • Trump lawyer says he'll plead the Fifth in porn actress case

    Trump lawyer says he'll plead the Fifth in porn actress case

    Wednesday, April 25 2018 7:08 PM EDT2018-04-25 23:08:55 GMT
    Wednesday, April 25 2018 10:10 PM EDT2018-04-26 02:10:48 GMT
    Michael Cohen appears in front of members of the media after a closed door meeting with the Senate Intelligence Committee last year. (Source: AP Photo/Andrew Harnik)Michael Cohen appears in front of members of the media after a closed door meeting with the Senate Intelligence Committee last year. (Source: AP Photo/Andrew Harnik)

    President Donald Trump's personal attorney says he'll exercise his constitutional right against self-incrimination in a lawsuit brought by a porn actress who said she had an affair with Trump.

    President Donald Trump's personal attorney says he'll exercise his constitutional right against self-incrimination in a lawsuit brought by a porn actress who said she had an affair with Trump.

  • Texas gang member executed for killing girl, grandmother

    Texas gang member executed for killing girl, grandmother

    Wednesday, April 25 2018 12:55 AM EDT2018-04-25 04:55:40 GMT
    Wednesday, April 25 2018 9:54 PM EDT2018-04-26 01:54:20 GMT
    (Texas Department of Criminal Justice via AP). This undated photo provided by the Texas Department of Criminal Justice shows Erick Davila. Attorneys for the Texas death row inmate want the U.S. Supreme Court to halt his scheduled execution this week fo...(Texas Department of Criminal Justice via AP). This undated photo provided by the Texas Department of Criminal Justice shows Erick Davila. Attorneys for the Texas death row inmate want the U.S. Supreme Court to halt his scheduled execution this week fo...
    Attorneys for a condemned Texas prisoner are asking the US Supreme Court to halt his execution for killing a young girl and her grandmother in 2008.
    Attorneys for a condemned Texas prisoner are asking the US Supreme Court to halt his execution for killing a young girl and her grandmother in 2008.
  • Macron resists Trump's 'America first' in speech to Congress

    Macron resists Trump's 'America first' in speech to Congress

    Wednesday, April 25 2018 11:30 AM EDT2018-04-25 15:30:41 GMT
    Wednesday, April 25 2018 9:51 PM EDT2018-04-26 01:51:03 GMT
    (AP Photo/Pablo Martinez Monsivais). French President Emmanuel Macron gestures as he is introduced before speaking to a joint meeting of Congress on Capitol Hill in Washington, Wednesday, April 25, 2018.(AP Photo/Pablo Martinez Monsivais). French President Emmanuel Macron gestures as he is introduced before speaking to a joint meeting of Congress on Capitol Hill in Washington, Wednesday, April 25, 2018.
    French President Emmanuel Macron extolled the "special bond" between the United States and France during his speech in front of a joint meeting of Congress.
    French President Emmanuel Macron extolled the "special bond" between the United States and France during his speech in front of a joint meeting of Congress.
Powered by Frankly