ET Wealth
12,129.5073.7
Stock Analysis, IPO, Mutual Funds, Bonds & More

How financial training in childhood impacts money behaviour of adults

If you are facing a financial crisis and explain it to children, they will not only learn how to deal with emergencies but also how to prevent them, without running to you.

, ET Bureau|
Last Updated: Nov 25, 2019, 06.30 AM IST|Original: Nov 25, 2019, 06.30 AM IST
0Comments
Getty Images
sn
If you are too generous with them, they could become spendthrifts.
How you train your child as a kid will determine how he behaves as an adult.

ET Wealth explains how your kids will behave in adulthood if you will do these things with them in their childhood.



If you do this when kids are small...
  • If you keep bailing out kids when their pocket money finishes mid-month...

…Kids will do this when they are adults

  • They’ll use you as crutch as adults and demand your help during every financial crisis.

Also read: How to resolve financial differences with adult children

If you do this when kids are small...

  • If you are facing a financial crisis and explain it to children...

…Kids will do this when they are adults
  • They will not only learn how to deal with emergencies but also how to prevent them, without running to you.

Also read: These emotional decisions to help adult children financially are bad

If you do this when kids are small...
  • If you don’t let them make spending decisions or criticise their choices...

…Kids will do this when they are adults
  • They are likely to lose self-confidence and turn to you for every financial decision, big or small.

If you do this when kids are small...
  • If you allow them to make mistakes...

…Kids will do this when they are adults
  • They will not harass you about your financial mistakes in old age. In fact, they are likely to help you...

Also read: How to make your child grow into a financially self-reliant adult

If you do this when kids are small...
  • If you are too frugal or too generous with them...

…Kids will do this when they are adults
  • They could become spendthrifts or have a high sense of entitlement. Either way, they will run to you for help.

Also Read

Understanding Chaikin Money Flow Index

Investors pour money into arbitrage funds

FPIs pumped money into these 10 smaller stocks, too

Foreign companies will be taxed for money earned by Indian arms

Am I allocating money to the right mutual funds?

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service