Financial Independence for Your Kids and Relief for You!

Kimberly Watson, Editor in Chief
June 29, 2012 /

One of the biggest and concerning issues confronting patents today is how to get financial relief, helped by weaning your kids off your expense account. The problem related to this situation, is that they adopt the habit of skimming off Mom and Pop and it then becomes a way of life for them.

This could be directed at the parents for not imposing financial awareness and discipline in the past, which is now coming back to haunt them!

However, many “Wanna be seen to be good parents” are going to have to learn some not so difficult lessons the hard way. Many of them apart from allowing their adult offspring to move back home with them, further condone an apparent guilt complex, by allowing them to live rent free! Probably many readers are now thinking of ways as to how they can also have an economically easy life like this?

Nevertheless, it does not stop there! These angels of parenthood, of which you could be one, instead of encouraging financial independence and weaning your kids off your expense account, are further supporting them with their college tutoring and car payments.

Although, one of the greatest advantages and sources of pride today, is financial independence, most American parents instead of concentrating on their retirement plans, are sacrificing their financial security, because they want to be seen as their kid’s best buddies and believe it gives status in their community.

Parents seem to forget, that part of providing education and security for their families is to weaning your kids off your expense account as soon as you can. Teach them the basics of financial management, or if you do not want to be seen as the “bad guy”, employ the services of a qualified teacher. Give the offspring a determined period, generally recognized as one or two years, to attain their financial independence and ensure they understand that the process is designed for weaning your kids off your expense account,

It is a lifestyle experience for them to realize that nothing in life is free and if they want to achieve something, or get the best from their lives, they must earn it. On their own imitative, they can visit various online sites and receive education in the basics of budgeting and obtain easy-to-use financial tools.

As parents, you do expect and are prepared to make sacrifices for your children, but a free ride for them on the life-train is a journey to financial disaster!

 

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