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Family Money

Written By: admin on October 10, 2009 No Comment

Day in and day out we tell you that it is important to save but maybe you are one of those people that have rich parents and you think that you don’t need to save because one day you will inherit their money. Well, think twice! I believe that the right to inherit parent’s estate is always superseded with your parents right to enjoy life. Family money is not an excuse to start being wasteful and expecting that something will magically solve all your problems.
Money is the obstacle to family peace in many families, whether the family has money or if the family is extremely poor. And it really shouldn’t be so. In order to avoid problems related to money in your family, there are some very simple rules that you can follow:
1) The best gift that your parents can give you and that you can pass on your children is to know how to save money and how to earn money, in that precise order. Your priorities should always be in that order, because if you are extremely wasteful, you can make great investments and earn plenty of money but it might not save you from financial problems.
2) Possessions that your parents have belong to them and you should not count on them. First of all, do you really want to build your financial future on waiting for your parents to die or give you money? The most important thing is to build your own financial security and if it happens that you will inherit something one day, so be it. It will be only one more gain for you and one more reason to be thankful!
3) Every parent should have only one goal, and that is to help a child to become a confident, responsible and independent individual that is able to provide for himself. Naturally, it includes having financial stability and ability to make money and to save money, all in order to make money work for you by investing… It sounds very simple and it really is. Parent should be there for the child when the child is growing up, provide a stable and safe environment for the child, but once the child becomes an adult it has no business asking parents to provide for them anymore. If the parent voluntarily helps and upgrades child’s lifestyle because it is within their means, that’s fine. But, only if it happens voluntarily and does not influence your relationship.
4) Have confidence and don’t go through life waiting for things to happen. You can do everything that you set your mind on! Family should mean love and protection and not money quarrels and ugly relationships due to money problems.

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