Every parent wants to give the best to their children. Sometimes, too much of a good thing can be harmful — especially when it comes to material things.
It’s ok to give toys and gifts to kids. But young as they are, children need to learn delayed gratification, or the ability to resist an immediate desire in order to receive a bigger reward. For example, when a child asks you to buy yet another fast–food freebie, what if you tell them that by cutting back on eating out, you can save up instead for a trip to Disneyland next summer?
This sets them up for success as adults, because they understand the value of hard work and sacrifice in return for the fulfillment of a dream.
Learning this also encourages children to save and invest. When they develop the habit of holding off a small whim for a bigger prize, they have a better chance of becoming financially secure when they’re on their own.
It’s important to give children fun experiences in the present, but it’s also crucial to think about how you’ll prepare for the years ahead. The question is, are you taking the right steps to secure their future?
Maybe it’s time to rethink how you define “providing” a brighter life for your children. To find out more, watch this video from Sun Life Financial below. — Rappler.com
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