'Don't be fearful of money': the best advice my father ever gave me


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We asked five Money contributors to share the best advice their father ever gave them...

"For the generation that lived through two world wars, self-indulgence was unthinkable. My father taught me self-reliance. His favourite remark was 'It won't happen on its own.' His favourite act was to help those less fortunate and keep it anonymous." - Vita Palestrant, former editor of the Money section of The Sydney Morning Herald and The Age

"More than advice, my father gave me confidence by always trusting my abilities. He allowed me, at the age of 19, to manage his and mum's superannuation fund. That gave me tremendous experience and he never lost faith in me." - Greg Hoffman, independent financial educator, commentator and investor

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"Look after the pennies and the pounds will look after themselves. It's not a motto I've always followed myself but it's still the soundest financial advice I've ever received!"

- Mark Chapman, director of tax communications at H&R Block

"My father's mantra - 'Spend some and save some' - instilled in me the need to budget and save, enabling me to purchase my own home, build an investment property portfolio and continue working towards a secure financial future." - Philippe Brach, CEO of Multifocus Properties and Finance

"Don't be fearful of money, leaning out of your comfort zone or the unknown. Steer clear of Bible-bashers and bigots. Life isn't a dress rehearsal so don't waste worrying about the future, live in the moment." - Mark Story, business and finance journalist and director of Prime Strategy Media

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