The Frugal Files: Daddy's Little Frugal Girls: Enjoy Your Life!!

Memorable Money Words from Daddy

A Musical Tribute to our Fathers on their Day

Welcome back frugalicious folks!! Hopefully you celebrated your Father this past weekend and he is feeling honored!! I attended church with my parents, went out to dinner at his favorite steakhouse, for which my Mom used a coupon (I had back ups, just in case) and later watched the NBA playoffs together. For some reason, we always end up cheering for opposite teams…AND his team won, of course!! LOL Regardless, it was a day that was enjoyed by all and he was especially appreciative of his gifts and time spent with family.

This brings me to our topic this week; it’s more of Daddy’s advice and in my case he has always demonstrated this and gladly passed it on to me and my daughter. Now, in my opinion, you can’t honor your Father and not recognize the awesome woman behind the awesome man, so his advice will be sprinkled with Mom’s words too!! After all, they are a team!! My parental team will be celebrating 35 years in August!! Can’t you tell I’m so proud of them? Yay!!

Mom & Dad said: “Enjoy Your Life”

Dancing In The Street...Martha & The Vandellas

Looking back, I don’t recall many childhood lazy days. I wasn’t a Saturday morning cartoon child on the regular, only occasionally. My mother believed in children making productive use of their time and enjoying life. She had me in several activities during the week like Girl Scouts and other volunteer opportunities and Saturdays were no different. My day went a little something like this:

• Breakfast at home
• 9 o’clock ballet class
• 10 o’clock tap class
• Lunch at the mall
• Shopping at Jacobson’s (back when we had a Jacobson’s)

I mentioned before my Mom paid her bills in full, but I didn’t mention that she was and still is very much a planner. She takes inventory of her funds and sets them aside to enjoy the things she wants out of life. I’m sure her way of thinking was the reason we went on vacations every summer and why my parents never miss a family reunion, in or out of town. She and my Dad kept their finances separate and it has and continues to work for them. It’s why I feel strongly that in addition to a joint account for bills, Belles, we need to have our own money on the side. If you have two different money handling styles, you can’t put ALL your eggs in one basket as one day, you might find a completely empty nest.

My Dad’s money style was a bit different. He sometimes acted like money burned a hole in pockets, but there was never a dull moment with him. He spent money on things he and his family enjoyed. He has always been a provider, so the fact that he is generous is pretty much a given. He taught me, as he showed me over and over again, that if you give freely, it will come back to you. Don’t let people borrow money, just give it to them. Then there are no arguments because you will get it back eventually. His guarantee of that was the very first money promise I remember and I cherish it today.

In conclusion, saving money is great. Having money put away for rainy days is awesome. Investing and seeing your money grow is awesome!! However, all the hard work that we put into tending to the growth of our finances means nothing if we never take the time to enjoy the fruits of our labor. If you do just a little planning ahead of time, you can do whatever you want to do. Take that trip you’ve always wanted to; purchase your favorite piece of artwork; open up your dream business. If you work hard, you deserve to play hard too. Enjoy your life!!

SUMMER FUN!!

Speaking of enjoying your life, summer is the time for you and your children to enjoy the great weather and celebrate that school’s out!! Look for specialty day camps in your area, based on your child’s interests or even have them try something new. Space camp, cooking camp, technology camp, whatever you can find. One year my daughter decided to go to school…for a week long Constructions Careers Camp. She learned about copper pipes and carpentry, where she got to work with her hands. It was a fun learning time and you never know what interest you’ll spark in your child. Have fun this summer and enjoy!!

Frugalicious Diva

Follow me on Twitter at @FrugaliciousDva

The Frugal Files: Daddy's Little Frugal Girls: Pay Yourself First!!

Memorable Money Words from Daddy

A Musical Tribute to our Fathers on their Day

Welcome back to The Frugal Files, where we are celebrating Fathers, Daddies, Papas, Pops’ or whatever you call yours, all month long!! To honor my own Daddy, I’m sharing with you life advice he’s shared and continues to share even today.

Last week were the words that was always suggested and heavily recommended by my parents, to “pay what you owe”. It sounds simple and it is if we are truthful with ourselves and others. If you use a product or service, pay for it. So when it comes to debt and getting our financial ish together, that’s the example we need to use as a standard. We want what’s due to us and so does the companies and cards we hold. Let’s get them paid off so we have more money to save, donate and invest in both ourselves and others.

Speaking of investing in ourselves, that’s the next nugget, a la Daddy, that we’re discussin.

Daddy ALWAYS said: “Pay Yourself First”

He Was Really Sayin' Somethin'…The Velvelettes

Although he said it all the time, I didn’t really understand it until I was old enough to have my own money. Even then, I was often in conflict with my Mom’s words of paying what you owe though. I would find myself paying everything only to find myself with nothing left. Now, being the Frugalicious Diva I am, I know the importance of setting money aside for myself, as well as mine my family’s future.

Ways you can pay yourself can be as simple as saving for a rainy day. It doesn’t have to be anything fancy, so your old sock or under your mattress is fine. Just keep in mind that neither your bed nor laundry will pay you interest for that hiding place.

Another way is to take advantage of the 401k (or 403b for not for profits) at your job and let your employer match it. Sometimes they pay up to 10%, so pay the max. It’s free money!! This is why we save, be it in bank accounts or mutual funds; retirement planning is important to not only our lives but for our children’s lives. Let’s put ourselves in the position to enjoy your later years without being a financial burden to our family.

Also, set up a 529 account for your future college kids. We talk about this but don’t often enough walk about it. I’m seeing more and more parents struggling to send their children to college simply because we don’t plan to get them there. It would behoove us to make room in our budgets. It’s hurtful if a child cannot attend the school of their choice because we didn’t prepare well. The great thing about the 529 accounts is that other people can contribute, so instead of asking for gifts at holiday and birthday time, have them instead add to the child’s college fund. It’s a forward thinking gift from which many will benefit for years to come.

Lastly, plan for big-ticket items like cars, houses and vacations. If you don’t take care of your business today, no one will do it for you tomorrow. A few sacrifices in entertainment for the ultimate entertainment of that tropical vacation, is definitely worth it. Shaving off extras you don’t need in your budget in order to set aside cash for enjoyment, that everybody needs, is essential to the principle of paying yourself first. This Daddy’s Girl, knows that Daddy Knows Best!!

Now that you’ve got Daddy’s advice, use it and create a truly abundant life for you and yours!! Do what you need to do now in order to have the things you want later. Have a great Father’s Day and honor your Dads, whether they are still here with us or not. Enjoy!!

SUMMER FUN!!

School is out for the summer, but it doesn’t mean our kids should stop learning. Summer Reading Clubs all over the country have libraries buzzing all day long. Challenge your children to read 9-10 books this summer. That’s three books for every summer month!! Have them give an oral or written report about the books. They will read about new adventures, stimulate their minds and stay out of trouble!! Reading is learning!!

Frugalicious Diva

Follow me on Twitter at @FrugaliciousDva

The Frugal Files: Daddy's Little Frugal Girls: Pay What You Owe!!

Memorable Money Words from Daddy

A Musical Tribute to our Fathers on their Day

Whether we want it or not, we always get advice from our parents, especially our mothers. It may be about boys and relationships, life and career or home and money, but it’s always given in love; no matter how it’s given to us. It’s interesting how as we get older, we do indeed get wiser. As we grow, most of us are fortunate enough to receive words of wisdom from those who have “been there, done that” before we did.

If you’re a Daddy’s Girl, like me, then you also got MORE than your fair share of advice from your biggest cheerleader and cupcake: Daddy!! I thank God that I’m still able to get advice from him, as well as anything else, and he would not have it any other way. So, in a tribute to Black Music Month and our fathers on Father’s Day, let’s examine what advice he’s shared (with sprinkles of Motherly advice), through their words or actions, with us through the years. This month is entitled…”Daddy’s Little Frugal Girls.”

I’m partial to girl groups from the 50s/60s (they are my absolute FAVORITE) so that’s whom I’m highlighting in music. It’s because of the legacy of groups like The Shirelles, The Chiffons, The Cookies and The Honey Cone that we continue to see great groups in this lifetime like En Vogue, Brownstone, Xscape and SWV, as well as solo artists like Mary J, Fantasia, and Lauryn Hill. I love music and could go on an on, but the point is, those early groups paved the way, showing class while sharing their gifted harmonies with us.

Daddy (and Mom) said: “Pay What You Owe”

Mama said There’d be Days like This…The Shirelles

I know this song was really about love and relationships, but based on my Mom and Dad’s actions, it was a lesson for me in finances. I didn’t know much about my parents’ financial business until I was grown, so when I learned, I realized my parents had and still have two very different money styles. My Mom was adamant about paying bills and paying them on time. Even if that meant she spent all her money on them and scaled back the rest of the month; the important things were addressed and checked off her list.

I am proud she passed this trait of integrity on to me to pay what I owe. I’m even more elated that I bestowed that gift to my own daughter. Even though there may be some days of financial scarcity, it’s honorable and proper to promptly pay your debts. I took it further because I make it my mission to be and stay debt free.

Even though his style is a little different, Daddy still paid what he owed. As my Deacon Daddy, he truly believes in Romans 13:8, of owing NO man. I always saw that when he did owe, he paid them back swiftly. He never wanted it to be said that he didn’t pay his way or earn his place. In fact, sometimes he even went overheard sharing more than he should, but you’ll never hear anyone call him cheap. That's not his way.

I learned that if you ever have the chance to do for someone else, do it. I think it’s the Pisces in us, but this is exactly how we’re alike, so it’s no doubt he shared that part of his DNA with me. The moral here is to 1) pay your bills, 2) don’t overextend yourself and 3) be generous. Paying what you owe speaks volumes about your character and shows people how much they can trust you. If you can’t pay something, make an arrangement and stick to it. It’s your word that is bond and people have the right to hold you to it.

SUMMER FUN!! 

In addition to Daddy Tips, I’m going to be sharing some summer activities for you and your family!! School is already out for many students, so if you haven’t already signed up, get registered for FREE BOWLING for the kids!! It’s all summer long!!

Until next time, have a great week!!

Frugalicious Diva

Follow me on Twitter at @FrugaliciousDva