When I was younger, I had school mates that came from rich backgrounds and others from humble means. There were those that had to steal money from their parents to feel among, and those that had the silver spoon. And in between those two, there were those that didn’t have much, but sold the few candies they had. These were the ones that struck me.
It was definitely not easy for them to sell those candies they had while other classmates were enjoying themselves. So, I wanted to learn that from them. I know it was such attitudes that later helped them to build their investment mentality. Well, they held those childhood principles closely.
Background
In a world of consumerism, the desire to produce keeps declining. Everyone wants to consume, when in effect majority are producing nothing. Unlike those children mentioned the onset that had already fought consumerism, many today prefer things to be handed to them.
Here are some factors that helps to build an investment mentality: one’s education, environment and to some extent the exposure.
Education
I think education plays a bigger role than the environment and exposure. Well, education and environment are closely related. When I say education, I do not necessarily mean the education received in school. I’m talking about informal education as that tends to do more.
For example, children learn from elderly ones, peers, religious teachers, and not only the teachers and tutors that are in a defined environment for learning. Such informal education could pass a greater message to a child, than he could learn in a classroom.
When parents make mistakes, children are there to learn from them. That is why it is best to explain to children when you are wrong, and how you can try to correct thing. A child is simply a reflection of his parents. Both the good and poor decisions.
When kids learn to manage money properly, it is as a result of what they have learnt from parents. They tend to follow suit even without the parents telling them to.
Children are like sponges, they absorb what is around them. A parent would determine if the child would be around water or if they would absorb oil. When there are positive decisions around them, it is likened to water, while when there are mostly bad habits, it’s more like oil. And you know oil stick more than water.
When a child sees that his/her parent take unnecessary loans to finance their flamboyant lifestyles, the children would assume that is what is right. In the future, you may see the child doing exactly the same. Children tend to follow suit so easily.
It is really hard for children to break such pattern that have been set by such parents. It takes hard work and years of exposure for children from that kind of background to finally break free. Well, that’s when the child sees that there is a better way of life. So, it is best not to send a false sense of reasoning.
Conclusion
Everyone in life have to make personal decisions. However, parents can make the lives of their children better by setting a fine example. There’s responsibilities in the hands of parents and other respectable ones in the society that have children looking up to them.
Researches has shown that the better a child’s savings/investment foundations, the better the child would manage money. It may not be easy to set such a good example, but it is very possible.
Extras
However, if you intend to have a saving plan for your child, you can make use of Capitec Bank and contact their customer care. Well, if you are in the United States, then the Bank of America may be more appropriate. The important thing is to think about your children, and make plans for their future; both with your example and with your funds.
If you have problems saving for a child, you can use an app like Zelle to transfer the money to an account that you currently do not have access to. Probably one not connected to credit or debit cards.
Sometimes I look back at my early childhood stage and I begin to regret that had I know I have make some valuable decisions towards my life.
How much better my life will be now. But ignorance was what was really affecting me then
Hey mate, it’s never too late. We all have made one or more wrong decisions that influenced our lives. However, there’s the need to help other younger ones around us forge on a better path than we did.
@tipu curate
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