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class="col-article__title"> <h1 > <div class="rich-text "> What kind of financial advice should I give to my children? </div> </h1> </div> <div class="col-article__date"> <time>June 1, 2025</time> </div> <div class="col-article__byline"> <span>By Robert Adams</span> </div> <div class="col-article__date-mobile"> <time>June 1, 2025</time> </div> <section class="col-article__featured "> <figure class="image-block-wrapper"> <picture><source srcset="https://files.kofc.org/images/assets/DomesticChurch_FamilyFinance.jpg/eb1e9f783ca511f0bfef7e047c4dafe3?width=900&height=506" /><img src="https://files.kofc.org/images/assets/DomesticChurch_FamilyFinance.jpg/eb1e9f783ca511f0bfef7e047c4dafe3?width=900&height=506" alt="DomesticChurch_FamilyFinance.jpg" loading="eager" class="img" decoding="auto" width="900" height="506" /></picture> <figcaption class="caption"> <div class="rich-text "> fizkes/iStock via Getty Images </div> </figcaption> </figure> </section> <section class="col-article__content-rich-text"> <div class="score-rich-text-block default default"> <div class="content-area "> <div class="rich-text "> <p>Fathers play a pivotal role in helping their children develop good habits, including a healthy relationship with money. They can lead by example and teach lessons they learned the hard way.</p> <p>In celebration of Father’s Day, here are 10 pieces of advice I’ve learned to help dads teach their children how to be wise with money. </p> <ol> <li>Set a budget and live within your means.</li> <li>Set financial goals with both short- and long-term visions.</li> <li>Understand that compound interest can work for you (such as when you consistently invest), or against you (as in the case of debt).</li> <li>With each paycheck, set aside money to save or invest, and give 10% of your earnings to charity, including to the Church.</li> <li>Reduce expenses by eating meals at home, especially as a family.</li> <li>Investing in well-made products might be more expensive at first but can provide better value over time.</li> <li>Prepare for the future and protect loved ones by having insurance policies before unexpected events (illness, disabilities, premature death) occur.</li> <li>Meditate on Scripture (e.g., Mt 6:19-34) in times of financial stress.</li> <li>Appreciate what you have — gratitude, more than money, leads to more happiness.</li> <li>Recognize the most valuable things in life cannot be bought.</li> </ol> <p>I hope these inspire you to start your own conversations with your children! For additional resources and to share your own words of wisdom, visit <a href="http://kofc.org/familyfinance">kofc.org/familyfinance</a>.</p> <p style="text-align: center;">*****</p> <p>ROBERT ADAMS, a field performance specialist, has worked with Knights of Columbus for over 35 years. 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