Is your child included in your financial plan and decisions?
By: Esteri Maina
Devotion to a child makes some parents neglect their health, appearances and most apparently love and relationships, trying to search for a better life for it.
However, my biggest worry is if you have included your child in your financial plans and decisions, and to what extent is he or she?
Many parents will argue that this is all about paying mortgages for the best house for the child to live-in and driving them around in new car models.
Others will be comfortable buying them the latest fashion in wear, enrolling them in highly paid and recognized schools or taking them to vacation in glamorous places.
All this is good, but you as a parent, need to consider that now you may be alive, tomorrow you may be gone, if that happen, can you die in peace knowing that your child will consider your hustle and handwork?
Many children today are extravagant, they feel that a parent should be responsible for them for eternity, and they are spendthrifts in useless things.
It is for this reason that you must consider polishing up their money matters, besides why would you pay a lot in their education and not consider spending more on this money management course?
Benefits of teaching money matters to your child
Raising an all round responsible child- every child’s life lessons starts by attaining and sustaining good morals, then spiritual and emotional wellbeing.
As a parent you must be able to reason and see that as long as money is available and does not cease, this child is capable of ruining all the preliminary lessons later in life.
They need to know that money is hunted with diligence and spent responsibly.
They may never know the reality of this until they mismanage all your assets and money inclusive of their own.
They will be able to manage their own salaries- considering cautioning them about bad spending habits now might help them in future while spending their hard-earned salaries.
Become responsible parents in terms of finances- the child you are raising now will become a parent some day.
If they learn and benefit from money matters knowledge now, they will definitely make their children learn too. You will then be a happy grand or great grandparent to a good money manager’s family line.
Will value savings and investment decisions- take a good look at the modern world children, they want to live dangerously on alcohol, drugs, irresponsible intimacy, with less thought about where this money come from now and in future.
If their lazy brains are awakened money wise, they will start valuing accumulating wealth in form of savings, stocks and fixed assets now!
Will become dependant at an early age- as a parent you can raise either a lazy child but a spendthrift or an aggressive one who is financially responsible.
Even at teenage, your child can find a part time job to cover costs on leisure that you as a parent must not be part of, you should not be a parent to his peers too!
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This is an original article written by Esteri Maina on CHILD, Esteri Maina is an author with a great gift and full of inspiration.
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