Are you a mentor to your children’s spending lives?

As it is universally agreed, money is a requisite in spending for all that a person would want to have, like the basic needs.

Money in days of inflation such as in this year 2009,families need to realize that it is changing hands swifter than ever, and the same way people must learn to curtail overspending.

The children that we bring up will experience the same with their own incomes and this is why parenting should be inseparable with financial mentoring for instance.

Another show I watched on Tyra show concerning little girls, who are given princess lives by their mothers, was really inspiring and so informative.

For a moment I envied these little angels and wished it were so easy for my parents to give me this kind of high maintenance lifestyle.

Then I wondered, what such children’s lives would be like if by any tragic chance, they found themselves alone in the remotest of all places like in some parts of Africa where life is simply hard and unbearable?

They would not know how to survive without their fabulously loaded mothers because they would be acquainted with nothing about poor life.

If you are a mother of young children now, start financial mentoring now so that they do not fall in the big percentage of those adults who struggle to find one and wish so one taught them earlier.

You may not deliver anything if you are also a spendthrift especially with credit cards because your children expect you to practice what you preach.

Kids may push you to the verge of collapse financially if they are of the spoilt type, because parents make them believe there are periods of lack in life.

Some parents lack the courage to say no to their kid’s request because just like everybody else, they believe that kids should never experience the life their own parents (grandparents to the kids) gave them.

But overspending even when there is money struggle is not the way to do this, but it is making them understand that money is not grants from banks but an earned asset, at times the hard way.

It is not even many children who understand why they have to catch the school bus so early every morning, endure the pulling of their ears by the teachers, earn good grades if their parents has a lot of money.

They cannot be blamed for this misperception of education and money only their parents or guardians should.

In such cases, parents need to create a situation of lack for such kids or simply put limit on how much they can spend on their credit cards for instance.

If children are not progressively mentored financially as they grow up, their parents cannot even trust them to manage all the assets they worked so hard to achieve.

Overspending may wipe all of it within no time and even though their parents thought such children would never need to know any tips of surviving hard life after their demise, they would proven wrong.

Financial mentoring to the children is the only sure way that parents would feel that they mastered their own finances even after they died, got mentally incapacitated or so severely sickly to do this anymore. Start this now!