Fathers play a significant role in shaping the character and values of their children. Among the myriad of teachings that we pick up from our dads, financial literacy on money matters is one of the more critical and defining abilities that kids credit dads for.
Whether it’s instilling the importance of saving for the future, sharing insights on wise investments, or imparting practical advice on earning and managing money, fathers provide us with a solid foundation for making sound financial decisions as adults and help us chart the path towards long-term business success.
In honor of Father’s Day, six empowered business leaders share the best money lessons they learned from their dads.
Rina Go, 32 years old
Chief Merchandising, Marketing, and Distribution Officer, Prince Retail Group
Rina says she learned the value of working hard and giving back to the community early on because she witnessed her dad’s involvement in business and socio-civic organizations growing up.
As a child, she would spend her afternoons after school and summer breaks at her dad’s office, watching him work and helping out around the office. “Odd jobs like tagging items, organizing price lists, that sort of thing!” says Rina, which may have been pretty random then, but have a profound impact in Rina’s basic business understanding later on.
Rina Go with father Robert.
By simply being around her dad and listening to his stories, Rina was able to pick up consistent money habits like being frugal in business and at home. “He raised us to make sure we knew the value of money, and that making money in business needs hard work.”
To date, Rina’s retail business is also very much focused on the same principles: providing value for money and affordable goods for their customers. Just as this value was ingrained in Rina since childhood, her family is literally “living out how we do business in our own lives.”
The single best business and money lesson she learned from her dad? “Never take ‘No’ for an answer!” Rina concludes, “Dad would always tell us to find a way, whatever way we can, to achieve a goal. After all, no great success ever comes easy.”
Jardin Wong, 32 years old
Chief Operating Officer, Golden Bay Group
Coming from a tight-knit family, Jardin had a really close relationship with his dad growing up. He shares his observations of his dad’s “incredible generosity and humility,” which remains consistent now and continues to inspire Jardin until today.
“The value of integrity, dedication, and hard work” are a few of the important life lessons Jardin’s dad has imparted to him and his siblings. Jardin says he saw how devoted his father was in performing beyond expectations in all of his ventures, and this serves as Jardin’s personal motivation when he encounters difficult challenges in his current entrepreneurial journey.
Jardin Wong with father Bong.
Jardin admires his dad for being able to raise them well through numerous real-life behavioral exercises. From leading by example, to fostering an entrepreneurial spirit so early throughout their upbringing, to imparting the importance of toughness and responsibility, and to developing the mindset of long-term thinking while prioritizing open communication. Jardin shares that his dad “was very approachable. He created a non-judgmental environment us” which enabled the Wong kids to idealize their dreams.
Setting goals and planning for the future were always part of their conversations, which Jardin later realized actually served as such a strong foundation for instilling the quality of “patience, sustained passion, and unequivocal perseverance.”
The single best business and money lesson he learned from his dad? “Being committed.” Jardin states firmly that “Commitment is such a big word,” because it requires you to stand by what you strongly believe in, from business ethics, to your vision, to your aspirations as both a person and a businessman. However, he believes that “if you are committed to a cause larger than you (your ikigai) and if you have a clear sense of purpose on what you want to achieve in life it really recharges you and propels you to do great things.” And that’s what keeps him going!
Kurt Siytaoco, 30 years old
Chief Operating Officer, Exxel Prime Int’l Trading Inc.
Growing up, Kurt says his dad was never strict with him and his sister. But he was able to witness his dad lead by example the importance of “being responsible, working hard, and doing his best.”
By being exposed to the daily life and routine of his father, he was able to garner simple information that in hind-sight were actually critical ways of thinking that formed his current strategic approaches in life and at work. “I saw how he dealt with different types of people and always with respect. He was also intentionally innovative in wanting to improve and develop his business style to the next level.”
Kurt Siytaoco with father Michael
The single best business and money lesson he learned from his dad? “Have a mentor and learn from other successful people.” And it is through learning from his dad that he saw the significance as well as the rewards of being able to endure the mental pains in failure. Kurt is unwavering in his quest for business success no matter what hurdles come his way, because he understands that “overcoming troubles and trials helps us grow and enables us to cross bigger problems and challenges ahead.”
Justin Pe, 27 years old
Senior Scientist, Universal Robina Corporation
Justin remembers going swimming and playing golf with his dad as a kid, and constantly being surprised by how many people he knew. “Everyone would say ‘Perry Pe!’ ‘Brother Perry!’ ‘Oy, pare!’” He refers to his dad as a “magnet” of sorts, attracting different kinds of people and always with a friendly smile on his face.
Over dinner, drinks, or rounds of golf, Justin witnessed the kinds of business relationships his dad was able to strengthen, as well as learned about the various business ventures his dad invested in. “He’d tell me why he loved what he did, all the hardships he faced,” and it’s these that established all the values that his dad holds dearly and what made him the man he is today.
Justin Pe with father Perry.
The single best business and money lesson he learned from his dad? “One’s hard work, combined with good manners, will never betray you.” Justin commends, “My dad would always emphasize showing good manners to people, and I’ve seen him do just that.”
Gelvin Hernandez, 30 years old
Founder and President, Always in Motion Live
Gelvin was raised in a family of five boys, and being the fourth child, he describes his childhood as “like being in the military.” He shares that his dad was really strict, like the typical “Asian parent” you see in movies.
Among his brothers though, Gelvin was reprimanded most often. He admits that he was not always the obedient nor the most responsible. Over time, Gelvin was so afraid of getting scolded that it came as second nature to him to “think twice, thrice or even more” before doing anything. This enabled him to develop prudence, proper foresight and self-discipline.
His dad would also always say that “business is not a college course, but a way of life.” Gelvin’s father had to drop out of college in order to support his brothers and sisters, and as the padre de pamilya at a very young age, his dad used diskarte, hard work, good ethics, and a pleasing personality to get to where he is today. Thus, it was inculcated in Gelvin that “young age does not hinder you from success.”
Through his father, he learned the importance of always treating his clients well and fostering good relationships along the way. This is applicable to Gelvin’s business now, a company that provides LED visual designs and technical support for live corporate and social events, most especially for weddings and debuts.
Gelvin Hernandez with father George, mom, and four brothers.
Gelvin saw how “good service, honesty, and taking care of your partners are what define you as a boss and reflect your business.” He invests in his staff, instills discipline but is generous with them. Somehow, being around his dad and experiencing the way he works with people “inevitably guided us to becoming like him [as a businessman] in the future.”
The single best business and money lesson he learned from his dad? “If you earn 1 peso, spend only 10 centavos or less.”
“That line I think I already heard more than a hundred times!” says Gelvin, who says both his parents were actually very firm when it came to financials. He expresses his gratitude to his father who, despite his strict demeanor, was always generous when it came to providing for the family’s necessities.
“Everything we do must be efficient and appreciated, because everything is paid for from hard earned money,” recognizing what a great feat it was for his dad to have provided for their big family. Having founded and running his own business now, Gelvin applies the same money lessons to his staff, from providing personal guidance about saving and investing their money, to forging genuine relationships with them while being strict with their processes to ensure his team delivers top quality service.
Donway Sy, 27 years old
Business Development Manager, Ever Bilena Cosmetics, Inc.
Donway describes his relationship to his dad growing up as “historically from a dynamic of deference.” He praises his dad’s “excellent business acumen, and says he liked to observe his dad’s habits and ways of thinking so as to pick up whatever nuggets of wisdom he could get.
“He was strict and had a very short temper,” so it was not until Donway was older that he became closer to his dad. “My dad would always ask us if we know the difference between a want and a need,” says Donway, who was taught the importance of budgeting through weekly allowances disbursed by his dad to himself and his siblings. “So while my friends and classmates would have lots of shoes, toys and clothes, I would only have a few because my dad wouldn’t buy it for me unless I could convince him that I needed it.” Donway would have to save up for the things he wanted himself.
Donway Sy with father Dioceldo.
The single best business and money lesson he learned from his dad? “Cash flow, cash flow, cash flow.” “My dad always looks for dividends, whether it be in operating a business or making investment decisions.” As the business development manager for his dad’s company and leading their corporate investment strategy, Donway would therefore always prudently sift through the financial metrics diligently to ensure the company is healthy.
“The business always has to be profitable or capable of making a profit.” Although Donway does acknowledge that there are quite a lot of exceptions given the proliferation of venture capital backed businesses these days. Regardless, the basic business principles remain, that “the financials and business fundamentals are the most important.”