Financial Aid How Long Should Parents Support Their Child Financially?

233
READ BY
Financial Aid – How Long Should Parents Support Their Child Financially?
Financial Aid – How Long Should Parents Support Their Child Financially?
Photo Credit: Goodluz / Bigstockphoto
Kumar Sunil

Kumar Sunil

Dreamer & Enthusiast

Creative. One word says it all for Sunil. A engineer, an enthusiastic and conscientious Information Technology consultant by profession, Sunil shares a special interest with entrepreneurship and lifestyle.

Parents tend to support their kids as long as they can. In some cases, they keep supporting it until they die. Admittedly, for the parents, their kids always remain the same helpless little children.

Behind parents’ financial aid, there are dreams, expectation, and of course their parenthood. To them, the only things that matter is a smile on their kid’s face. If are not supporting their , they have to face society’s . The answer to the question that how long should parents support their child financially is very simple; there are certain limits to everything.

HIGHLIGHTS

  1. Do not grow a child devoid of financial understanding.
  2. This endless support could bring a financially broken kid.
  3. Instead supporting, make them financially independent.

We are living in a society where parents think can fill the gap. They believe the best way of expressing love is buying them gifts and giving them financial assistance. But, don’t you guys think this is going to make your kids extra dependent on you.

Dear parents, it is okay that you are supporting your kids for their better future. Even after passing high school, instead of teaching them how to make money for their basic needs, we are paying their monthly rent, educational expenses, car gas, medical insurances and other liabilities. And, we also know that when the real time will come, our children are going to claim their privacy and isolation.

This mistake of never letting them know about the importance of how to produce money and what self-sufficiency feels like, we are spoiling the financial habits of our kids. In this way, the child and then adult personality is driven to a state of comfort where kids will be looking at them throughout their life for their financial needs. And, once parents are gone, instead of making money, they will be looking around the surroundings.

Finally, you will be leaving a child behind, who is emotionally crippled, and financially helpless. And, when will be asked to face the shock of reality, they are going to find it more likely a death-death situation.

I know, there are parents who will still prefer to avoid talking to a young adolescent about the subject “how to make money”. Moreover, there are some parents who reject this possibility, as a teenager to earn money with their own efforts. Parents think they are performing their duties as a parent. But, in reality, you are taking them far from the real world.

Instead, parents should encourage the child to learn, how to make money. Support may start from within home; telling them to do have something, they need to do something. As parents, you need to develop your kid’s financial intelligence.

The financial intelligence to our children must develop early, so give them a better start in life. Give them a weekly budget. So that they can learn to distinguish between needs and wants and can prioritize budget.

When the child wants to do something involving financial resources, it is our duty as parents to the support. If you are supporting your kids financially, tell your kids that you have borrowed the some from someone for them, and they need to support you. This will help them learn the value of goods and money.

If you do not approach the subject of money in the family, children will find it “forbidden fruit” and try to get hold of them. This way they can get the wrong idea about the value of money and their importance.

And finally, do not forget, children are our faithful mirror. In addition to what you learn, watch and your attitude towards money because they will learn from the example that they offer it.

SAY WHAT YOU NEED TO SAY.