Dad Advice for a "Regular Person"
Regular Person
On Monday, I shared about the financial lessons my dad has taught me. I love my dad tremendously, and he has given me some great advice, but I can't imagine a greater financial lesson from a dad than this one from Cliff Huxtable to his high school aged son Theo (and I give a shout out to my stepmom Pam for reminding me of this). In the scene, Theo is questioned about his future potential due to poor grades he received in high school. Theo counters his dad with the fact that he has no intention of achieving such lofty goals and deems that life as a "regular person" will be just fine for him. This is four minutes of viewing that is definitely worth it.https://www.youtube.com/watch?v=nFY0HBkUm8o
So Many Things to Love
Budgeting
First of all, this monopoly money budgeting process is one that feels very similar to what I do with my clients. They have ideas of what they could do like live on bologna and cereal, and yet the reality is that there is so much more they haven't planned for like boyfriends and girlfriends. We all need a Cliff Huxtable in our lives helping us budget realistically. I can't tell you how much I see great budgets on spreadsheets that are actually not playing out in real life because they were never realistic to begin with.
Choices
Through the play budgeting process, Cliff forced Theo to think about the choices he would have to make in life to reach his financial goals, whether it was living in the city or driving a car. We can't always get what we want, and it's important to remember that we should strive to make smart choices with our money.
Taxes
I remember the time I got my first check that had taxes taken out. I didn't make much, but I couldn't believe how little was left after the government took its share. Taxes are a painful reality, but a large part of our budgeting and we need to make sure that when we make our financial plans, we are always keeping the government's take in mind.
A Parent's Guidance
As much as I am always moved by Theo's plea for his dad to love him as he is and not have delusions of grandeur based on his dad's experience, I love how his dad hits him over the head with reality that Theo is just selling himself short and not pushing for something greater in his life.I actually thought my dad was a lot like Dr. Huxtable when I was growing up and never more so than this scene. It seems awful crude the way that Cliff delivers this message; however, it is actually filled with love and support. As parents, we should not be afraid to give our kids a dose of reality and push them to achieve something more. If we set low goals for our children, we are only selling them short. Sometimes a good dose of tough love can push them in the direction of financial success.
Image Source: Roland TanglaoGif Source: GIPHY
Did you ever watch the Cosby Show? What was a favorite Cliff Huxtable moment? If not, you need to check it out! It's an oldie but a goodie.