Monday, March 6, 2023 | 2 a.m.
The idea struck my friend Darnell Mayberry as sound. He had spent much of his life as a working stiff, trying to get a handle on money, how to manage it and how to grow it.
Now, having turned 40, Darnell needed a roadmap for how to solidify his finances.
He wasn’t about to let Parker, his 9-year-old daughter, step into adulthood with money as a mystery.
So, he’s taking Parker with him on his arduous journey to financial literacy. He’ll teach her about money as he learns about it himself.
I applaud Darnell’s effort.
For what he’s doing is what more people, including me in many ways, ought to do.
As consumers, we have titanic spending power, and we seem overly eager to spend, spend, spend. No, tomorrow isn’t promised to any of us, but I’d suggest we shouldn’t spend every dime today, only to wake up tomorrow with a pile of debt deeper than the Mariana Trench.
Those who follow money with a keen eye have read that more than 60% of Americans live paycheck to paycheck. Let an unexpected expense arise — and such expenses occur often — and most people’s financial house collapses like a sandcastle.
Darnell has come to terms with this reality.
He was just like most others. He had too much credit-card debt in his portfolio and not enough liquidity, which meant no rainy-day reserve to tap. He bled money faster than he made it.
Looking at what he wanted for Parker, Darnell knew he needed a firmer control on his spending. Indeed, he could afford to pay $650 for him and a girlfriend to attend a Bruno Mars concert in Vegas, but what would that expense do to build wealth?
Wouldn’t he benefit more by paying $100 to attend a comedy show on the Strip?
In sharing his plans with me, he mentioned how he passed on buying a PlayStation, despite how much he enjoyed gaming. The game console wasn’t a need; it was a want. But what Darnell wanted more was to wean himself off toys and expenses that didn’t strengthen his bottom line.
So he teaches his disciplined spending to Parker. He shares all decisions he’s making with her, and he chronicles those decisions in his twice-weekly blog, which he’s aptly titled “Money Talks.”
Through his prose, he highlights his financial moves for others to see. They can argue or agree, but he’s certain they’ll learn from his decisions — the good or the bad ones.
Peel away the reasons behind his openness, and you’ll learn he’s creating a history for his daughter. Years after he’s left this world, she’ll be able to show her own children the road to financial literacy she traveled with her father.
Parker was there when Darnell took the first step, and she’ll be there when he takes the last — whenever it happens.
On their winding, uncertain journey, she’ll have learned from her father, my friend, that money talks, so take a minute to listen to it.
Justice Hill practiced journalism for more than 25 years before settling into teaching at Ohio University. He quit May 15, 2019, to write and globetrot. He’s doing both.
