Our Children Appear To Have Good Intuition When It Comes To Controling Cash.
In Credit Score of CreditGuru (September 1, 2010 8:16 am)
I came across an piece of writing that revealed something remarkable. A topical study shows that our children look to have good instincts when it comes to managing cash.
The study which was undertaken by YouGov and backed by the Bank and Personal Finance Education Group shows that around 80 per cent of children may prefer to save than enter debt.
Though it would seem that children have good instincts, as Wendy van den Hende from the pfeg remarks, when they become adults those instincts needn’t always stay.
Therefore where are our children getting these good habits from? Perhaps they’ve some inbuilt method that we are all born with; the sense of right and wrong, good and bad. Therefore it becomes common sense not to amass needless expenses just like Credit Card Debt.
children are especially discerning. Regardless of what we seek to hide from them they’ll constantly pick up on bad environments and troubled moods. Perhaps they see the way we control our cash, the lack of good Debt Management and the ensuing sadness we go through. Our children note more than we apprehend and are deeply affected by the way we are.
It may just be that they see our actions and are affected in a affirmative way. They see the chaos and lack of fulfillment in obtaining something that has to be paid for later. children are sensible; they think logically and very easily come to a rational conclusion despite their early years.
The other side of this study though implies that after they become adults it often all goes out the window. So what on earth happens?
Well in a word - Life.
Seeing their mum & dad running up sizeable amounts of Credit Card Debt without a concept of how it’s going to be paid back for sure will not give them a good start. Practicing bad Debt Management is in no way going to be a first-class thing for our children to learn from us.
If by some miracle they stay wise in the face of our influences, once they get to maturity they can surrender to the stresses all-around them and follow us in our path.
Do we truly want our youngsters to go through what we are going through? How many of us are having to apply of[/spin] plans such as Debt Consolidation as we did not think things through, were careless, or overstretched ourselves. How many times have we held our head in our hands and kicked ourselves for being so slow. Is that the life we wish for for our babies?
There is certainly often situations where we may well need to go into debt but what we must inculcate into our children is the insight to handle it well.
Doing so will help them to stay away from the pitfalls that we have thrown ourselves into. They will discover other pitfalls but at least we might have the peace of mind that they might take care of themselves.
As for us, well there is always hope. If we if truth be told have made a pig’s ear of it and have to utilize Debt Consolidation to get us back on track then we are able to educate our children the significance of money by being judicious from now on. They will also discover that we are not faultless and we do make errors. The idea is to learn from them.
If all else fails maybe we might learn something from our children!
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