In early April, Mrs. Money and I welcomed our second child into the world. I am so overwhelmed with joy, excitement, wonder and also a bit of nerves, but Mrs. Money and I couldn’t be happier. I’ve got the wonderful benefit of taking some paternity leave to spend some time bonding with Segundo Money Finance and helping out the family, which also allows me plenty of time for reflecting and doing some writing on the blog! Similar to my post after the arrival of BabyMoneyFinance (who isn’t really a baby anymore), I did want to hit pause on the financial articles and share from my heart what being a Dad is like! 

Being a good role model

One thing that’s really had me thinking especially as BabyMoneyFinance continues to grow, is how important it is for me, as best I can be, to be a role model. BMF, and SegundoMoneyFinance (SMF) will look to me to learn so much in life, both in the things that I do (or don’t do) and the things I say. I’m definitely not perfect and I’ve been coming to understand that I don’t have to be perfect for them. They will not be perfect and will make mistakes, just like all of us, and so perhaps a good lesson I can teach them is not only how to try not to make mistakes, but also in how they bounce back afterwards. 

I’ve also been thinking a lot about how they’ll learn much more around what I do, vs what I say. That helps keep me thinking about what I eat and drink (healthy), how I spend my time (on my phone, watching TV vs reading or hanging with them, but also getting some ‘me’ time to recharge), and also how I treat others (Mrs. Money Finance, or friends or people we see out and about). 

Finally, I have been thinking a lot about the things I’ll need to teach them. Thankfully BabyMoneyFinance doesn’t need to know a lot right now, but I am cognizant that I am teaching them, and should continue teaching them as they grow up. 

Quantity over quality 

Mrs. Money recently pointed out something that I think it was Jerry Seinfeld had said – something about how quality time is really a bunch of nonsense and how he was more focused on just spending time period with his kids. I’ve thought a lot about that too, and think he’s onto something. So often I try to focus on being super intentional, super engaged, and super planned as I spend time with my kids. Really all time with your kids is quality time, so I’ve tried to shift my mindset away from worry about what we do when we hang out, and just hang out. Whether it’s just going on walks, laying around the house, or playing with toys, it’s all quality time. Time is such a gift and I’ve been trying just to spend time with them, regardless of whether it’s quality or not! 

Health over Wealth

I had someone early on explain how they viewed going to a slightly more expensive gym as being more of an investment vs. an expense and that’s always stuck with me. Mrs. Money and I routinely work out (have I mentioned we do Crossfit?!?) and we’ve also been trying to eat healthier. The older I get the more I realize that our health is not guaranteed and that it’s something we should work at. I am so happy being a Dad, and would like to be around for as long as I can with them. I also think a lot about the habits I present to them, and how I hope to pass along healthy habits to them so that they can be around for a long time too! 

Building a strong financial foundation 

I’ve been doing a lot of reflecting on the nature of work, the purpose of acquiring financial assets, and what I’d like to pass along to my kids one day. Mrs. Money and I both were separately taught early on the value of a dollar and of hard work, and these are things I’d love to pass along to them. I’ve also seen firsthand how important a strong financial foundation can not only help weather the storm, but also slowly and incrementally perhaps build a better life. Life certainly throws a lot of curveballs our way, and 2020 has 100% reinforced the importance of having a strong emergency fund and multiple streams of income. 

I’m proud of the progress Mrs. Money and I have made financially, but am keeping the pedal to the metal to ensure we remain in a good position and hopefully one day can set our kiddos up with strong future too! 

Summary

Having a kid was the start of an amazing adventure for me, and I’m excited to continue the adventure with a 2nd kid!