It was George Santayana who said

“Those who do not remember the past are condemned to repeat it.”

In this series, The SINS of our Fathers, I want to share with you the mistakes our fathers made and the lessons to learn from them.

One day I asked my father for money to return to school and he told me he hadn’t any. I then asked him, but Papa as we fondly called him, you just received your salary. He smiled and said, you’re not the only one I cater for. As I left his presence, I felt very disappointed and sad that I can’t go back to school having travelled 4hrs all the way from Enugu to get some money. I thought my father was wicked, I thought he didn’t care especially the way he usually replies. But I was Very WRONG.

The truth is that my father loved us all and wanted to provide for us but the resources were not enough. I however only realized it when I grew up. Just imagine 3 wives, 20 children with about half dependent on him. How much was he earning?

As I advanced, I discovered it is not easy to provide for one wife and child, talk more of 3 wives and plenty children. Now I understand what it means for someone not to have money two days after getting paid. Each time I tell my wife, there’s no cash at the moment, I reflect on how it was with my father years back.

Please don’t dwell on these, just follow my lead.

This is my story, my past, my origin. And I know so many people can identify with this. So pause and ask yourself, what will my children say about me when I’m gone?

What I want to bring out today is that you can’t afford to live without a financial plan for your business and family. My father had an issue. Expenditure was more than income so he could not tend to everything. This happens when all you rely on is your salary. My father is one of the hardest working men I’ve seen yet he could not meet all his needs.

So let me ask you again, do you have a financial plan for your life, family and business? If you don’t, you are threading on dangerous waters. In the times we’re in, you can’t afford not to strategize your finances to secure the future.

If your expenditure exceeds or equals to your income, that is trouble looming. So the number 1 sin of my father is letting his expenditure become greater than his income or allowing his income remain lesser than his needs and responsibilities. He was a diligent civil servant that relied on monthly pay checks to get by. You can’t create wealth depending on pay checks every month. Not that it is wrong but it is not always enough.

Most people are already living like this. But it doesn’t have to be this way. Most of us are where we are today because of the sins of our fathers and what happens to our children depends on us.

As we begin to end the year and journey into 2017, what are your financial plans? How well did you fare in 2016? Do you need help?

I hope you learnt something from this, watch out for new episodes.

iAM_RoborBliss – Bussiness and Family Financial Strategist