We Filipinos are very well known for our close ties as a family unit.
This is a Filipino characteristic that is admirable and needs to be preserved. However, it also has its downsides.
If you are a parent, you need to be able to train your children to be independent so that when the right time comes for them to live on their own, they know how to survive.
Unfortunately, some children tend to depend heavily on their parents in order to survive. This is true even for those who already have families of their own. And because of our close family ties, it is unthinkable for a Filipino parent not to support an adult child in distress.
In reality, this is a very unhealthy set up. It may also be an implication of the failure of some parents to train their children early in life that someday, they would have to live separately from them.
Here are 5 things you need to teach your children before they become adults:
- You will not be around forever to provide for their needs.
Equip your children for survival purposes. You will not always be around in this world and they need to be able to build a life of their own without relying on you every step of the way. - They need to learn to manage their finances well.
Teach your children the importance of saving money, budgeting and investing at an early age. - You will not be solving their financial problems for them when they become adults.
Teach your children to take responsibility for their actions. When they encounter problems, counsel them. If you decide to lend them money, make sure that they pay you back. - You are not an ATM.
“Pa, can I have money. Will be going out with friends. Kulang ang budget.”
“Mom, please let me borrow money. I want to buy the latest smart phone. I’ll pay you when my 13th month is released. Sayang ang promo.”
Tell your children that you are not an ATM. When they start working someday, they need to be able to pay for their own expenses. They cannot just run to you anytime they need money for unimportant things.
Early in life, teach them to set their priorities and save for something they want to buy. Teach them not to BORROW money - Your financial obligation as a parent ends when they graduate from school.
When your children complete their studies, it’s time for them to make a life of their own. Do not allow them to continue to rely on you for finances. Encourage them to find a job and start building a career or start a business they can grow.
THINK. REFLECT. APPLY.
Are you preparing your children for life in the right way?
How can you prepare your children for the future?
What will you tell your children the next time they ask for money to buy something they don’t really need?
Prepare your children for LIFE. START THEM YOUNG.
If you want to start them young, please grab my latest book “My Ipon Diary” so you can teach them how to save their money at a young age. Visit chinkeetan.com/ipon
