Teaching Children Financial Responsibility: Do It Before They're Born

Today's world is one in which resources of all kinds are increasingly drying up. Overpopulation is an issue that we must seriously consider. Although many still follow through with unexpected pregnancies for various reasons, a smart couple would certainly wait until they are financially and emotionally secure to begin one of the most difficult tasks we'll ever have to endure--raising kids.

Once you have decided that you've reached the point where it would be beneficial and manageable to raise healthy, happy kids, you should also consider carefully what wisdom you want to instill in the future products of your bloodline. One of the most important lessons, in my opinion, is financial responsibility. This is one lesson my parents did not properly teach me, and so I had to learn the hard way--by trial and many, many errors.

Teaching a lesson successfully, however, always begins by leading by example. People work very much like animals in this respect. As the saying goes, "Monkey see. Monkey do." If your children hear you saying constantly, "Don't spend. Save. Learn the value of a dollar", but they see you spending indiscriminately, then the lesson will not be learned. Actions speak louder than words.

Another issue that parents-to-be should think about before their children are born is knowing how easy it is to want to spoil your progeny. Especially if you worked hard for your financial security, you'll want to give your kids everything. This impulse, of course, is only natural. Children are perhaps the greatest joys we'll ever experience, and it is a common human tendency to express your love through giving and generosity. To resist this temptation, first recognize the impulse, then know when to bring out the giving you appropriately. Gifts are one thing, but spoiling is completely different. Speak with your partner before the kids come into the picture about future allowances, savings, college expenditures, and other potential money issues. It's never too early to start talking.

While teaching financial responsibility to the single greatest objects of your love will be inevitably difficult, it's not impossible. Doing it the right way will aid your children in becoming financially responsible, happy adults as well. All it takes is a little planning.

This guest post is contributed by Jena Ellis, who writes on the topics of Online Certificate Programs. She welcomes your questions and comments at her email Id: jena.ellis20 @gmail.com.

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