Dad Chat – Money | Dad, How Do I? [Video]

By Dad, how do I?

My Book covers these Money subjects and many more;

How to Organize your Bills
How to Pay Your Bills
How to Open a Bank Account
How to Write a Check
How to Reconcile Your Checkbook
How to Open a Credit Card Account
How to Budget
How to Get Out of Debt
How to Invest
How, Why and When to get Insurance
How to Build Credit
How to Get a Loan

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Transcript provided by YouTube (unedited)

0:01
hey kids so
0:03
today we’re going to have the talk
0:06
that’s right
0:07
we’re going to talk about money ah i got
0:09
you didn’t i
0:10
uh you know there’s so much to talk
0:12
about with money i made it up with a
0:13
part two and a part three but i wanted
0:15
to
0:15
get this out um because it’s tax season
0:18
so i want to talk about that a little
0:19
bit for you
0:20
um you know and like it or not the money
0:22
is a big part of your life
0:24
um so you need to learn to manage it
0:26
well
0:27
i know i love the line from it’s a
0:29
wonderful life where
0:30
uh the angel um clarence
0:34
says oh we don’t use money in heaven
0:37
and uh george bailey i’m probably
0:39
massacring this but george bailey says
0:41
something like
0:42
well it comes in pretty handy down here
0:45
bub
0:45
ah so anyway i think that’s it’s true
0:49
you know
0:50
my money’s a pretty important part of
0:52
your life
0:53
you’ll find as you go along and i think
0:55
it’s important to
0:56
create good habits first i have a dad
0:58
joke for you
0:59
so what did the duck say after he went
1:02
shopping
1:03
put it on my bill ah so
1:06
you know uh if you don’t manage uh your
1:09
money
1:10
well um you know you can run into all
1:12
kinds of pitfalls and so it’s it’s
1:14
important when you’re young
1:16
um and hopefully i’ve done this with my
1:18
own kids and that’s what i’d like to
1:19
pass along to you is try to teach them
1:21
to
1:22
manage their their money well you know
1:24
in my book um
1:26
i actually have lots having to do with
1:28
money because it’s important you know
1:30
it’s important to know how how to you
1:32
know
1:33
um what a credit score is you know um
1:35
and and how that works as far as helping
1:37
you to be able to buy a house
1:39
and then um you know i have a
1:42
section on writing a check um opening a
1:45
bank account
1:46
and then saving uh you know and then
1:49
investing
1:50
i kind of walk you through how i invest
1:53
so over the long haul
1:54
um it pays off you got to think long
1:56
term we’re always talking about long
1:58
term right so
2:00
um and then so taxes i wanted to just
2:02
cover that really quick you know i
2:04
this is the advice i would give my own
2:05
kids so i’m going to give it to you um
2:09
you know if you’re if your taxes aren’t
2:11
that complicated
2:12
um you know i can only speak for america
2:14
i have a audience across the
2:16
across the globe but i can only speak
2:17
for america you know if you’re if your
2:20
taxes are fairly simple
2:21
turbotax is a pretty i’m not getting
2:24
paid anything for saying that but
2:25
turbotax is actually pretty easy it’s
2:27
just an interview they just walk you
2:28
through and you just gotta have your
2:30
basics
2:31
uh in front of you like a w-2 and then
2:33
if you’ve
2:34
earned anything in savings or any kind
2:36
of investments you just need to have
2:38
that handy
2:39
and boy it’s pretty easy it just walks
2:41
you right through it you know and if
2:43
if your taxes are more complicated than
2:44
that then you probably are
2:46
making a lot more money and you could
2:48
pay to have somebody uh
2:50
look over your taxes and do your taxes
2:52
for you um but anyway so back
2:54
back in my day you know i’m ancient so i
2:57
we used to have
2:58
um then i think they probably still have
2:59
them but the pamphlet that you would
3:01
look through and
3:02
determine what your tax uh level was and
3:05
then you’d have to you know search
3:06
through all these rows and rows it was
3:08
in a
3:08
you know a newspaper print catalog um so
3:11
it’s a little complicated but
3:13
and i think i’m pretty sure that
3:16
turbotax depending on how much you make
3:18
uh is free through the irs
3:20
too so anyway so it shouldn’t be that
3:22
intimidating you know when you start
3:24
getting into having a mortgage and being
3:26
able to write off the interest
3:28
then it gets a little more complicated
3:30
but even that i think they
3:32
you know they walk you through it they
3:33
just kind of it’s an interview process
3:35
and walk you through and then at the end
3:37
it runs an audit and says hey uh you
3:39
forgot to do this or you forgot to do
3:41
that
3:41
so anyway that would be my advice um and
3:44
i think um yeah i think
3:47
you don’t want to over complicate it or
3:48
don’t be scared of it just try it and
3:50
see
3:50
see if see how it goes so um
3:53
you know one thing i wanted to talk
3:55
about and this is uh in my book too i
3:56
address it
3:57
um you know eighty percent of americans
4:01
live paycheck to paycheck um when i read
4:04
that stat
4:04
that terrified me because um you know
4:07
you’re one step away from something bad
4:08
happening and you know things snowball
4:10
so
4:11
i think you know and i please um don’t
4:14
send me hate mail as far as
4:16
hey i can’t even make ends meet you know
4:18
i get it there’s people that are
4:20
in you know tough situ situations where
4:22
you can’t rub two nickels together
4:24
uh so please i i get it i’m just saying
4:27
that number’s awfully high
4:28
you know um maybe 50 you know or maybe
4:32
20 or what have you but i think we can
4:35
do better than that
4:36
um with a little bit of discipline and
4:38
so i kind of walk you through what that
4:39
looks like in my book to try to help you
4:42
uh you know because it’ll you know
4:45
help relieve some stress again if it’s
4:48
just habits over time is what i’m
4:50
talking about not getting rich quick
4:52
but just have good habits over time
4:54
pretty soon you can accumulate um
4:56
you know some money to help you uh so
4:58
that you’re not
5:00
you know stressed out all the time and i
5:03
get it you know when
5:04
my wife and i were first married we
5:05
didn’t have anything and so we lived
5:06
paycheck to paycheck for a time until we
5:08
could get
5:09
some a little bit of momentum going and
5:11
then once you kind of see the momentum
5:13
uh and i share that in my book too about
5:16
you know um
5:17
how again how to invest and then how to
5:20
kind of
5:21
chart the course towards success so that
5:23
you’re aiming at something instead of
5:24
just you know spinning your wheels
5:26
um you know so uh you know
5:29
you’ve heard that term the money that
5:32
money
5:33
is the root of all evil that’s actually
5:35
misquoted it’s
5:36
the love of money is the root of all
5:39
kinds of evil
5:41
is what it says and you know that’s true
5:43
you don’t want to worship money money’s
5:45
just a tool it’s not something that you
5:48
uh
5:49
you know yeah sit and bow down to
5:52
or oh it’s all about the money well you
5:54
know what you need to have balance in
5:56
your life
5:57
money is a big part of your life though
6:00
that’s just the reality and i think
6:01
the sooner you can get your head around
6:03
that that was like hey i need to figure
6:04
out how to manage this so
6:06
it’s not managing me you know um and so
6:09
i think
6:10
uh again so another thing in my book is
6:13
how to manage your bills you know bills
6:15
come in yikes you know what i do i got
6:18
to stay on top of this and make sure
6:20
they’re getting paid in a timely manner
6:21
so that my credit score
6:23
you know stays intact because you know
6:26
also
6:27
uh employers when they’re looking to
6:28
hire people they’re actually looking at
6:30
your credit score too um as well as you
6:33
know you get a better interest on your
6:34
loan when you go to buy a house
6:36
uh you know it’s just important and it’s
6:38
responsible you know it’s being
6:39
responsible you
6:41
if you have a bill you should pay it
6:43
it’s the right thing to do right if you
6:44
if somebody owes you money you would
6:45
want to get paid too
6:46
right so you shouldn’t run from uh
6:50
legitimate bills like that so uh
6:53
you know one thing i i speaking of
6:56
managing money well
6:58
you know you think about the lottery uh
7:00
people that win the lottery
7:02
a lot of times it ruins them you know
7:03
they you don’t hear these great success
7:05
stories for a lot of those people
7:07
because they didn’t know how to manage
7:09
the money and the money came in
7:11
and you know they’re buying whatever and
7:14
then they don’t have any money anymore
7:16
so it’s important to build good habits
7:19
so that when
7:20
money comes in you know and i think it’s
7:22
important like if you get a raise
7:24
a lot of people in america they can’t
7:26
stop themselves from oh let’s increase
7:28
our style of living let’s get a bigger
7:30
house let’s get a car let’s get you know
7:32
pretty soon you know you’re
7:34
uh you’ve got money going out uh it’s
7:36
important to
7:37
you know your net worth a lot of people
7:40
get confused on this oh that you know
7:42
who’s a millionaire or whatever your net
7:44
worth is based on
7:45
how much you keep it isn’t how much you
7:47
make you know so a lot of people and i
7:49
mentioned that in my book too it’s you
7:51
know uh it’s important to hang on
7:53
to some of that so that you can you know
7:56
plan for the future
7:58
uh because you don’t know what future
7:59
holds you know it’s important to plan
8:01
ahead so
8:02
um you know if you learn learn to manage
8:04
well it’ll just uh decrease
8:06
stress in your life you know i do have
8:09
actually kind of a dad joke for you
8:11
about
8:11
lottery lottery winners so uh you know
8:14
what’s the best way to get in touch
8:16
with your distant relatives win the
8:18
lottery
8:19
uh anyway they come out of the come out
8:21
of the woodwork right
8:22
uh you know um but but one thing i want
8:26
to make sure that i’m clear about i i
8:28
i don’t want you to think that money is
8:31
everything to me
8:32
it it absolutely isn’t it’s just an
8:34
important tool
8:35
and um and you can help a lot of people
8:38
if you can get yourself in a good
8:41
situation
8:41
then when somebody has a need you can
8:44
meet it
8:44
right you have the resources to be able
8:46
to uh
8:48
to come through for people when you see
8:50
a need because a lot of times you’ll see
8:52
a need and it’s like ah i can barely
8:54
you know afford my mortgage this month
8:56
um so it’s important to
8:58
to get yourself on solid ground so then
9:01
you can then be
9:02
be generous you know it’s not about big
9:04
building bigger barns you know let’s
9:06
just
9:07
amass all this stuff that i can’t take
9:09
with me you know
9:10
uh so you know it’s important to
9:13
yeah it’s just important as a tool uh to
9:17
to get a hold of it and aim it at
9:19
something so that you’re
9:20
you know you’re heading in a good
9:22
direction with it so
9:24
um so uh
9:27
one one last thing i was just reading my
9:28
notes here i do have a
9:30
um a chapter in my book uh about my
9:33
brother dawn because dawn’s always been
9:36
very generous and i think it’s good to
9:38
be generous it’s good
9:39
it’s called living your life with an
9:41
open hand uh so that god can put into it
9:43
and god can take out of it it’s it you
9:45
know it’s a good way to live your life
9:47
you don’t want to be that guy that you
9:49
know you open your wallet and mobs fly
9:51
out
9:51
and everybody’s surprised that you’re
9:52
open your wallet when you’re out to
9:54
dinner you know you want to
9:55
get yourself in a comfortable position
9:57
you know you don’t want to again you
9:58
don’t have to be
9:59
overly generous but
10:02
you know you need to pay your fair share
10:04
and you need to yeah
10:06
look for needs and be able to meet them
10:08
um and it feels good you know it’s
10:10
it is better to to give than receive i
10:13
love being able to give
10:14
uh to help people whenever we can
10:17
so anyway i have a um i was thinking
10:21
about ending this right here but i
10:22
actually wanted to show you my grass
10:24
because i think grass you know um and
10:26
how and caring for your grass
10:28
a garden is very similar to money it’s
10:31
showing you know
10:32
you take care of it and it comes you
10:34
know you take
10:35
water it and you over time it
10:38
uh it produces good fruit and so
10:42
i’m going to show you the grass that i
10:44
watered i showed you in a video recently
10:46
where i was watering it it’s
10:48
coming in it looks amazing uh it was the
10:51
one where i did the on the
10:52
multi-use sprayer um and so i’m gonna
10:55
end this video
10:57
out there my neighbor is mowing his lawn
10:59
right now so
11:01
i might need that it might be a little
11:02
bit later but um i just want to show you
11:04
that grass and then we’ll
11:05
we’ll wrap up okay so i’m out here with
11:08
my grass that i planted i think it’s
11:10
been about three weeks ago
11:11
um you can see how much it’s come in
11:13
here and i think it’s very similar to
11:15
money
11:16
you know if you if you take care to
11:19
to start well with a good foundation
11:22
right we started with the good
11:23
topsoil good seed and then we made sure
11:26
to
11:27
put that peat moss on and we watered it
11:30
over time
11:31
that’s what you end up with so very
11:32
similar to money um
11:34
you just got to plan well and then over
11:36
time you know you can set yourself up
11:38
uh pretty well yeah just with a little
11:42
discipline so just wanted to encourage
11:43
you with that
11:45
thanks for watching i hope this was
11:46
helpful for you and god bless you

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This post was previously published on YouTube.

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