10 Money Lessons We Learned from Our Fathers

June 18, 2026

In honour of Father’s Day, our bankers share some of their best money advice from Dad

Our earliest lessons about money are usually learned at home. From a very young age, we absorb ideas about financial security, or the lack of it, from the conditions we grow up in and how they compare with those around us. We hear our parents talk about money – perhaps arguing about it, worrying over it, or celebrating financial successes.

Inevitably, part of the advice parents pass on will relate to money. If they have been successful, they may want to share the habits and decisions that helped them to build their wealth. If they’ve faced financial hardship, they may hope their experiences will help the next generation to avoid the same mistakes.

In honour of Father’s Day on Sunday, June 21, we have asked our bankers to share the best money advice they received from their dads. And, without overlooking the important role mothers often play in managing the family finances and passing on financial wisdom, we have also included some timeless advice from a few famously financially savvy fathers.

1. It is not just the price but the ongoing costs

Banking Director Gill Sanders tells us that the best piece of advice her dad gave her, and which she has passed on to her clients for years, is: “You might be able to afford the capital asset, but can you afford the ongoing costs?”

“This was specifically in relation to me buying my first car,” she adds, “but I used the principle again when it came to buying my house. I continue to use it to guide my clients when I suspect they are trying to push too far, for example, with their own borrowing or house buying expectations.”

2. Be prepared for that rainy day

The fatherly advice which has stuck with Banking Director Samantha Dunne over the years is both simple and lovely. She says: “He advised me to always put money aside for a rainy day. And his lovely addition was: ‘If you are so lucky that the rainy day never comes, then you can spend it in the sunshine’.”

3. Live within your means and carry on saving

Assistant Banking Manager Matthew Kirwan’s father impressed on him from a young age not to buy what he could not afford and the importance of saving. “His guidance was to tuck something away every month and put a bit extra away into an ISA or a pension. My Mother and Father, Glenda and Paul, have both recently retired and are loving it, so this must have worked for them!”

4. Tech is not always the answer

The advice Mark Prentice, Head of Private Banking (Scotland), has from his father is applicable to his work life. “Dad liked to point out that technology, like electric windows, is great when it works, but you do have to think about what happens when it does not. He always wanted to have a back-up, like the lever to wind up the car window that used to be there on car doors.” Mark adds: “The same can be said of digital-only banks – great when it all works, but what happens when it doesn’t? With Hampden Bank, you get all the benefits of digital, but with a banker on call to help you, if required.”

5. Balance your income against your outgoings

“Son, if you have more coming in than you’ve got going out, you’ll be ok,” was the memorable, down-to-earth advice Haydn Aird, Head of Banking, North & Midlands was given by his dad. It echoes the famous words about financial happiness from Mr Micawber in Charles Dickens’ David Copperfield:

"Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

That leads us nicely to the sound financial wisdom that has been shared over the years by some famously financially successful fathers.

6. Save like a pessimist

Bill Gates the founder of Microsoft believes in ‘saving like a pessimist’ even when you are creating the tools for the future. Since the early days of Microsoft, he has aimed to have enough cash in the bank to keep the company going for 12 months without revenue if required. He was also wary of growing the company too quickly.

7. Make your own money decisions

Legendary US investor and hedge fund manager, Ray Dalio, urges people to do their own research and take charge of their financial decisions. He cautions against the ‘fast talkers’ trying to persuade you otherwise. “It is your responsibility to make sense of things and do not move on until you do. If you are feeling pressured, say something like ‘Sorry for being stupid, but I'm going to need to slow you down so I can make sense of what you're saying.’ Then ask your questions. All of them.”

8. Love your job

Perhaps the world’s most famous investor, Warren Buffet, always tells young people at the start of their careers to: “Take the job you would take if you were independently wealthy. You are going to do well at it.” Now in his mid-nineties, Buffet can still be found at the office most weekdays and, in his words, is usually ‘tap dancing to work’.

9. Track your spending

John D. Rockefeller, one of the richest Americans ever, always tracked his spending. According to Ariana Rockefeller: “We have a family tradition that started with my great-great-grandfather, John D. Rockefeller Sr., who wrote down everything he spent in a ledger. I got my first ledger from my dad, David Rockefeller Jr., when I first started getting an allowance. It is a little notebook that helps you track input and output, so you can budget and plan efficiently. To this day, I uphold that habit. You have to be mindful of what you’re taking out of your wallet and have respect for money.”

10. And finally... enjoy what you have

We round off with the famous words of wisdom passed on by his dad to Connor Blake, Assistant Banking Manager. “My dad, to this day, still says ‘you can’t take it with you’ whenever the topic of money comes up. It’s not an excuse to spend recklessly (unfortunately!) but intended as a reminder to enjoy what you have and use it wisely while you can. Money is there to support and enhance your life, not just sit around untouched!

Happy Father’s Day and a huge thank you to all the hard-working fathers and father figures who have tried their best to pass on hard-won money advice to all the important people in their lives.