et us Declutter our Lives this Diwali
The moment we become parents, our dimension of life change. A parent is their child’s first teacher and should remain their best teacher throughout life. The proper role of the parent is to provide them all necessities along with sound knowledge of surroundings. They should provide encouragement, support and access to activities that enable the child to master key developmental tasks.
But one day as they grow up , they need some advice on money and life too, like how we seek from our parents.
So here I am sharing 9 most important lessons on Life and money,which as a parent I feel – best gift that can be given to them.
1. Don’t underestimate the role of chance in life.
The situations and circumstances play a very important role in our lives. Simple things like family, values, countries and even generation we are born into or people we happen to meet along the way all impact our outcomes. We should be thankful and pay gratitude for all the opportunities n favourable situations with which we are blessed . While you should believe in the values and rewards of hard work but at the same time it is also important to understand that not all success is a result of hard work and that not all poverty is due to laziness. So keep this in mind when forming opinion about others, including yourself.
2. The highest dividend money pays is the ability to control time
We know that money and time never go hand in hand as when we have time, money was less and when we have money, we have shortened of time.So the lesson here will be Achieving Independence is our ultimate goal in life i.e. being able to do what you want with whom you want where you want and for as long as you want. How we can achieve this independence- By saving money. Every rupee you save is like owning a slice of your future that might otherwise be managed by someone else.
3. Don’t count on getting spoiled
We as a parent will always do our best to support our children but we are not going to spoil them, even knowingly no one does. There is a very fine line between needs and desire. We have to teach them that they can’t have everything they want. This in turn will teach them about budgeting, saving and valuing what they already have. Basically to bring in their habit ,how to be Frugal i.e be careful to use only as much money as is necessary – without it hurting them.This is an essential life skill that will come in handy during their life’s inevitable ups and down.
4. Success doesn’t always come from big actions
No one will be successful in one day , it requires Discipline and consistency in whatever you do. Managing money and life are also the same, we have to teach them that they don’t have to do amazing things to end up in a good place overtime, they just have to consistent for long period of time. Success will automatically fall in place.
5.Live below your means
Its very important to teach our children the ability to live with less, once they have a control on it i.e they know how to live in limited and required means, automatically they are going to save money and this saving will give them confidence which in turns make them happy.
6. Its okay to change your mind
We should always support and guide our children by giving them faith that no one has their life figured out by age 18, so it is not the end of the world, if you pick a major that you end up not enjoying or get a degree in a field that you are not 100% passionate about or work in a career and later decide you want to do something else. So its okay to change your mind. Progress is impossible without change and those who can not change their minds can not change anything.
7. Everything has a price
This is a very strong note and we all should admit to it – Right. The price of busy career is time away from family and friends. The price of long term market returns is uncertainty and volatility. The price of spoiling kids is them living a sheltered life. Everything worthwhile comes with a price and most of those prices are hidden. So the lesson which we can gift them is right from the starting value and appreciate whatever they have in their lives. This will help them to start view things like time, relationship, autonomy etc as currencies that are just as valuable as cash.
8. Money is not the greatest measure of success
Money is important but not everything. True success in life is when the number of people you want to have love you, actually do love you. And that love. caring, respect comes from how you treat people, rather than your level of Networth. No amount of money can compensate for a lack of character, honesty, genuine empathy towards others. This is the most important Financial advice we can give.
9. Don’t blindly accept any advice you’re given
We all know that there is and will always be a generation gap. Things what we had in our time are not same with today’s scenario neither it was in our parent’s time. So no one is exactly the same and no one has all the right answer. We as a parent have to provide them a platform where they are free to think and discuss about anything without a framed pre perceived notion So lesson here is ‘Never take anyone’s advice without analysing it with your own goals, values and circumstances’. We, parents always love our kids and their biggest well wishers . We should also not forget that our children observe us, we are their role models, so our actions speak and teach a lot. Hope this gift of 9 lessons will enrich your child life.