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Beat the System: Dad’s Financial Advice – Updated

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As Father’s Day approaches, we thought we’d turn to dad for some financial advice with some updates, thanks to Credit.com.

Ever hear dad say pay cash for everything?

While it’s true that should buy what you can’t afford, you can’t build credit by only paying cash.

Dad also might have used to say, “Don’t owe anyone anything.”

Nowadays, it’s healthy to owe someone and pay it off. That’s how you build good credit, which can help you get the best rates for big purchases like a car or a house.

Then, there are the obvious dad tips like “go to college” and “get a job.”

These days, that’s just the start of a career, not the last step. Don’t let your skills get rusty.

For more updated fatherly financial advice, click here.

Kate Eby and Ian McDonald contributed to this post.

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