It’s Father’s Day soon, that time of the year when sales of men’s socks and ties surge and everyone struggles to find a card without golf or fishing on the front.
Socks are a pretty good analogy for dads, actually. For while many people have biological fathers in their lives, few have dads who have raised them, cared for them and taken the time to encourage them to grow.
And likewise, the same can be said of finances. Are you nurturing your finances the way a dad would nurture their son? Here are four lessons from dads – and socks – that you can put into practice with your hard-earned money.
Socks and dads are supportive… but also invisible
Socks are an easy thing to underestimate and forget about – until you don’t have them anymore. When June kicks in, the warmth and softness of a good pair of socks makes a huge impact – just like having secure finances does when circumstances turn wintry. And just like socks, good finances are not something everyone can see. You’re not going to get the external validation from society for paying off student loans that you would for buying a flashy new car you can’t afford.
… But when it’s cold outside, you’ll be smiling
Socks and dads matter most when it’s cold outside. Perhaps it’s no accident that, while Mother’s Day is in the last golden weeks of Autumn, Father’s Day is celebrated at the beginning of Winter. Those of us lucky enough to have two loving parents often go to Mom to tell of good news and enjoy some nurturing and conversation, but it’s Dad that we turn to for advice when the going gets tough.
It’s the same with finances. Unlike socks on Father’s Day, financial wisdom is something no one else can give you. You have to be the one to equip yourself with what will keep you warm in a harsh climate.
Socks and Father’s Day speak to the importance of transparency
“You know where you stand with a good, honest pair of socks,” says Joe Bloomfield in the movie Miss Pettigrew Lives for a Day. Again, it’s a rather fitting metaphor for fathers.
Here’s how the conversation goes every year:
Me: Dad, what do you want for Father’s Day? Don’t say –
Dad: I’d love a pair of socks. That’ll be wonderful.
Me: Dad, I’m not buying you socks for Father’s Day. It’s cliché. Everyone buys socks.
Dad: But socks are awesome! I don’t care if everyone buys them.
And so on.
But Dad is always upfront about socks even though he knows I won’t like his answer. It’s like that with finances – transparency is hugely important. At WellsFaber we prioritise holding the position of independence, impartiality and experience so that we can be honest and transparent in our advice on how you will make decisions about your life now, and your life tomorrow.
But finances aren’t socks – so choose wisely
Just like socks, there are a lot of financial options out there, and choosing the right ones can be tricky. However, unlike socks, these decisions will impact the rest of your life. And, it’s not a ‘one-size fits all’ scenario.
This is where having a transparent, independent professional advisor helps you thrive. How do you choose the best of all the options out there are, if you don’t know what all the options are? It is so important to be informed, and by a trusted pro who will tell disclose all the relevant facts to you in an unbiased way. The way a good father would.
How do you choose socks for your father – by looking at what everyone else wants? No, you consider the individual, you know his needs and wants, and that’s what you informs your buying the navy faithful’s or the socks with flamingos on.
At WellsFaber, our transparency in our financial advice helps you thrive.