Healthy FInancial Responsibilities of a Dad.
As a new dad, I had plans on how I wanted to take care of my Son and still have my savings in check, working extra hard and putting everything in check, I couldn't be more confident that all would go as planned. But, over here things keep getting expensive every day, you think you have a good amount of savings somewhere until it is time to re-stock on groceries, then you will find out the money you went out with is nothing at all and you may just need to touch from your savings.
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Unpredictable things will inevitably happen from time to time, you are now a parent and you are no longer living for yourself alone, and since that little champ needs to be as comfortable as possible.
These kids come with everyday expenses, the more they grow older, the more the expenses, which are not usually easy to pay even when it is easy to remember. Of course, it is impossible to predict the future, but we can anticipate that some form of expenses including unexpected ones may come up at some point in the life of a child and that is the most important reason why you need to learn to set emergency funds somewhere, any amount you can start with is going to help you a lot.
As a father who is trying to be a provider, you also need to learn to find a balance and get involved with your family in terms of communication. As a father, you may be so consumed by the pursuit of provision that you lose your family in total.
Teaching your kids how to handle money can never happen too early, it is important to begin to speak with your children. A good approach to this is through sharing financial matters with the entire family, there is no better way to teach them about money than when they watch you make decisions yourself.
There are so many life skills and lessons associated with finances, the goal is to ensure your kids have a great knowledge about money from a very early age, these principles may help your children want to learn about money;
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DiIligent earning: When your children understand the importance of earning, it provides them with a great sense of worth. Children have to understand that they can make a valuable financial contribution even if their current market is only you as a father.
Consistently save: Teach your kids the importance of saving, and teach them to set aside little amounts each month, they will be surprised at how much their account is growing and get inspired to do more.
From that early stage, begin to teach your kids the importance of giving cheerfully, and let them enjoy the satisfaction of helping others
While they learn to give, they must also understand it is not a bad thing to receive. Teach your kids that receiving gifts is never a sign of weakness.
Teach your kids the need to invest more than spend. When it is their own money, you will be surprised at how fast they will learn the difference between spending lavishly and investing.