close navigationX
    • opens in a new windowHome
    • opens in a new windowSign in opens in a new windowSign in
    • Overview same page link to Overview section
    • Financial health same page link to Financial health section
    • Card benefits same page link to Card benefits section
  • CONNECT WITH CHASE
    • opens in a new windowContact us
    • opens in a new windowGive feedback
  • opens in a new windowAbout Chase
  • opens in a new windowJ.P. Morgan
  • opens in a new windowJPMorgan Chase & Co.
  • opens in a new windowMedia Center
  • opens in a new windowCareers
  • opens in a new windowChase Canada
  • opens in a new windowSAFE Act: Chase Mortgage Loan Originators
  • opens in a new windowFair Lending
Show the Side Menu Menu icon
Chase logo
Chase Octagon Symbol Chase Octagon Symbol
updates page content Overview
updates page content Financial health
updates page content Card benefits
< opens in the same window Back
Family photo including mom, dad and daughter Family photo including mom, dad and daughter

What My Dad Taught Me About Money

By Brittney Castro | Posted: 6/18/2018



The following article is part of Chase Slate's 2018 Credit Outlook, which provides data-driven insights on how Americans' views on spending, saving and budgeting are changing.

“Mija, how much are you getting paid to do that?"

“A lot, Dad."

“How much? Make sure they are paying you!"

“Oh, Dad! Why can't you just say how proud you are of me!?"

This conversation between a father and daughter may not seem like a big deal, but I can't tell you how many times I've been upset by my dad's questions about how much money I was making. They would trigger a waterfall of reactions, from anger to self-doubt to frustration.

Undermined by concern

Five years ago, I set out to create my own company and build a whole new life for myself. As a tried and true entrepreneur, I can tell you that every day is filled with emotional ups and downs, a never-ending roller coaster of challenges and successes.

When I was starting out, these innocuous questions poked at my worries about whether I would “make it" financially as an entrepreneur. What I didn't realize at the time was that this conversation was my dad's way of loving me and ensuring that I was caring for myself.

Family lessons

As the Chase Slate Financial Education Ambassador, I've been able to share my wisdom and knowledge about money management and credit with others. Along the way, I've also been able to reflect on my own upbringing with a Hispanic father in a whole new way. My father's family worked hard to establish themselves in America, and their work ethic has been etched into my own consciousness. It has stuck with me while I grew in my career.

My father is a strong, hard-working Hispanic. He doesn't always express himself in the sweet, caring, nurturing way that my mother does, but it is definitely LOVE. His care for me all these years has shaped how I relate to money. He's taught me about the inner workings of money management and — equally important — about my self-worth. He taught me to never sell myself short and constantly reminded me to budget my money in order to save for my goals.

A culture of saving

My father isn't alone: according to the opens in a new windowChase Slate 2018 Credit Outlook, Hispanic parents are more likely to talk with their children about money (61 percent) than the general population (56 percent). However, almost two in five parents still have not had the "money talk" with their kids – primarily because they think their children are too young.

I want to stress that it is never too early to begin the conversation. I encourage parents to start talking to their kids about the value and the positivity of finances when they're young. I know communicating with my own parents helped me tremendously in my career.

First steps

My dad helped me establish my credit when I was 16 years old by co-signing on my first credit card. He had a stern talk with me about the charges — like gas — that I was allowed to make on it, and made sure I paid off the balance in full every month. Because of this early lesson in money management, I was later able to leverage my good credit to kick-start and finance my dream business.

Findings from the opens in a new windowChase Slate 2018 Credit Outlook revealed that Hispanics have positive feelings about their credit scores, with 66 percent of Hispanics recognizing that it is very important to have access to credit.

I think this is important: we should project optimism about our finances. Now, what do we do to maintain a positive momentum around the topic of credit?

Staying optimistic

72 percent of Hispanics — compared to 60 percent of the general population — want to improve their credit score, and 61 percent have a plan for doing so in the next year. The survey also revealed that Hispanics are taking the appropriate steps to earning an improved credit score, such as planning to pay down debt (57 percent), pay bills on time (56 percent), and keep credit card balances low (50 percent). Clearly, they know their stuff!

Finally, one of the best parts about being a financial planner for the past 13 years is being able to help my parents build their wealth over their lifetime. As a Hispanic American woman, that feels incredible.

CHASE logo SLATE(Registered Trademark) U.S. Hispanic parents lead the way: talking to kids about money is a no-brainer Hispanics are more likely to have talked with their children about money than the general population Hispanic population - 61% General population - 56% Those who have had a conversation about money with their children are most often motivated by wanting them to 65%- develop responsible money habits 59% learn how to budget 62% learn the value of hard work Most Hispanics want to influence their children





< opens in the same window Back

Related tips, tools, and news

Farnoosh and son putting coins in a jar in the kitchen Farnoosh and son putting coins in a jar in the kitchen
opens in same window

How to Teach Your Kids About Money at Every Age

Parent and child putting money in a piggy bank Parent and child putting money in a piggy bank
opens in same window

Having The 'Money Talk' With Your Kids

Hands writing on a pad of paper in front of a laptop. Hands writing on a pad of paper in front of a laptop.
opens in same window

Are You Happy With Your Credit Score?

Follow us:
  • opens overlay links to Chase's Facebook page
  • opens overlay links to Chase's Instagram page y
  • opens overlay links to Chase's Twitter page
  • opens overlay links to Chase's YouTube page
  • opens overlay links to Chase's LinkedIn page
  • opens overlay links to Chase's Pinterest page
opens in a new window Chase.com opens in a new window Site Terms & Conditions opens in a new window Privacy Notice opens in the same window Site Map opens overlay, links to Chase's Facebook page Visit us on Facebook

© JPMorgan Chase & Co. All rights reserved.

WEB50472

Begin external link overlay.
You’re Now Leaving Chase
Chase's website and/or mobile terms, privacy and security policies don’t apply to the site or app you're about to visit. Please review its terms, privacy and security policies to see how they apply to you. Chase isn’t responsible for (and doesn’t provide) any products, services or content at this third-party site or app, except for products and services that explicitly carry the Chase name.
close overlay Cancel
opens in a new window Proceed
End external link overlay.