Dad’s 6 Essential Money Tips

Dad, how do I?

Transcript provided by YouTube then edited with AI.

6 Tips to Win With Money in 2026 and Beyond

Intro

Hey kids, here are six tips that will help you do well with money in 2026 and beyond.

Track your spending and create a budget.
Learn the difference between wanting something and needing something.
Don’t try to look rich—that’s a vain pursuit.
Make sure you pay yourself first.
Avoid debt whenever possible.
Get your money working for you as early as possible so you can take advantage of compound interest.

I’ll be talking about each of these tips over the next six weeks. The earlier you learn how to manage money, the more peaceful and less stressful your life will be.

Have a Budget

The most basic and foundational principle to winning with money is having a budget.

If you don’t like the word “budget,” call it a roadmap or a plan to get you where you want to go. As Dave Ramsey said, “A budget is telling your money where to go instead of wondering where it went.”

A simple way to get started is to track every expense for two months. That will give you an honest picture of where your money is going.

From there, you can build a plan that actually works. If you need more help, I lay out a simple, practical budget in my book on page 133, and I also have a short video on my YouTube channel that walks you through it step by step.

Today, I’m going to show you how to make a simple budget.

I promise you, your future self will thank you for taking care of your finances today.

Want vs. Need

Here’s my second tip for winning with money in 2026: learn the difference between wanting something and needing something.

A need is required to live—like food, shelter, transportation, and basic utilities.

A want might make life more fun or convenient, but it isn’t a necessity—like buying the latest iPhone when your old one still works, or getting a new car when your current one gets you where you need to go.

As Dave Ramsey said, “We buy things we don’t need with money we don’t have to impress people we don’t like.”

The truth is, you don’t really need most of the things you think you have to have.

I’ll leave you with this: greed pushes you to buy things you don’t need, whereas contentment helps you appreciate what you already have.

Don’t Try to Look Rich

Here’s my third tip for winning with money in 2026 and beyond: don’t try to look rich. That’s a vain pursuit.

Trying to impress people with cars, clothes, or a lifestyle—without the money to back it up—will just lead you further into debt.

The people I’ve met with real wealth usually don’t bother trying to look rich.

Proverbs 13:7 says, “One person pretends to be rich, yet has nothing. Another pretends to be poor, yet has great wealth.”

Money is like a tool. If it’s managed well, it can give you freedom, peace, and options.

However, using it improperly—or for the wrong purpose—is usually not a good idea.

Instead of asking, “How does this make me look?” ask, “Does this help my future?”

Pay Yourself First

Here’s my fourth tip for winning with money in 2026 and beyond: remember to pay yourself first.

This idea comes from the book The Richest Man in Babylon, and it’s simple but powerful.

Most people get into the habit of spending everything they make. There’s always something else to buy, another bill, another need.

But if you can discipline yourself to pay yourself first—even if it’s a small amount—you’ll soon be on the path to building wealth.

It turns saving into a priority instead of an afterthought.

Proverbs 13:11 says, “Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.”

If you want to win with money, you must learn to set something aside for your future self.

Avoid Debt

Here is my fifth tip for winning with money in 2026 and beyond: avoid debt whenever possible.

Debt promises convenience today and hands you the bill tomorrow—with interest.

Every dollar that you owe is a dollar that can’t work for you because it already has a job.

You may have heard of “good debt” and “bad debt.” For me, the only truly good debt would be a mortgage, because most people can’t afford to pay for a house outright—and you need somewhere to live.

Long term, buying a house is often better than renting because you benefit from its increase in value.

Bad debt would include credit cards or taking out a car loan, because a car is actually going down in value while you’re still paying for it.

We personally use a credit card, but we pay it off each month. Always be very careful with credit cards. They can be useful for building credit, but they carry high interest and can quickly put you in a tough situation that’s hard to get out of.

The bottom line: you want your money to work for you—but if you’re in debt, it’s working for someone else.

Compound Interest

This is my sixth tip for winning with money in 2026 and beyond: get your money working for you as early as possible.

Time matters even more than talent when it comes to investing.

Compound interest is when your money earns money—and then that money earns more money. It’s like rolling a snowball down a hill. At first, it doesn’t look like much, but the longer it rolls, the bigger it gets, and eventually it grows faster than you might expect.

The mistake many people make is waiting until they have extra money before they start investing—but that actually costs them time.

The secret isn’t how much you start with; it’s how early you start.

Even small amounts invested consistently can grow into something big because of time.

If you’re young, your biggest financial advantage isn’t your salary—it’s the time you have.

Start early, stay consistent, and let time work for you instead of against you.

Your future self will thank you. I hope you have a great week, and God bless you.

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This post was previously published on YouTube.

Welcome to “Dad, how do I?” Here you will find “How To” videos by a dad who has raised 2 adults (and we still talk). I will do my best to provide useful, practical content to many basic tasks that everyone should know how to do. On this channel, you will find a variety of content like How To’s, Story times, Dad Chats, and more!

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