I know how challenging (and rewarding!) being a dad can be, which is why I was happy to share with The Huffington Post my favorite way to make and save more money. My tip? Save in a different bank account, earmarking 15 percent of every piece of income into an account that’s difficult to access.
An incredible 36 more dads also shared their best advice. Putting tomorrow’s needs as a priority over what you want today, opening a Roth IRA and protecting your family against the unpredictable are a few ways to get started—it’s never too late. Investing in yourself and teaching your children about money on their level from an early age is also key.
Planning a trip with your kids, including hunting for the best hotel and flight bargains together, models healthy behavior. Asking yourself honestly if you truly need something before buying it and sticking to a shopping waiting period for big ticket items is helpful.
Save as early as you can for retirement. Make the most of any 401(K) options you may have, and look for opportunities outside banker’s hours to generate income. You can start a business, but always have Plan B on the backburner. Manage “allowances” for everyone in the family, including yourself, that mirror bank accounts.
Find out more tips and tricks—including the decision not to have any more kids!