teach your kids the habit of investment

Be involved, but not in control. Advise, but do not decide. Support, but do not dominate.

Parents play a substantial role in designing their child’s future. How the child grows up to be or how he/she takes on life, majorly depends on parents. While a strong foundation can help the child in leading a fulfilling life, a weak foundation can make them struggle for very small things. Starting from ethics to education as well as success, parents are responsible for everything in a child’s growth.

They also serve as a significant influence in their children’s development and decision- making. Every parent wishes that their kids find success and happiness in life, and the one decision that affects these things is a good career choice. A research study indicates that students who feel supported by their parents in their decision making and career choices are likely to be more successful than those who are not. When parents support children in their decisions, the children start having more confidence in their abilities and skills. They start thinking of taking risks which can lead to a bright and successful career.

Now as we have stated above parents should always allow their children to choose the future they want. However, there are some tips that parents can give their children for excellent holistic development. Some of which are listed below.

Tips For Your Child’s Development
  • Inspire your children to get as much schooling as possible.
  • Help them in finding their distinctive skills and talents.
  • Advance their knowledge of the workings of the world.
  • Help them improve their decision- making skills.
  • Teach them the value of cultural diversity and gender equity.
  • Make them aware of the career resources/ education and training opportunities.
  • Observe the effects of work experience.
It is Also Vital To Assist Them

While allowing your child to make career choices is a good and valid decision, parents should also look out if their children’s approach towards that dream. Many times even with high potential students are unable to live up to their capabilities. This majorly happens when their approach towards their goal is wrong. Therefore, parents should immediately talk to their children if they see signs like:

  • Excessive procrastination
  • Unrealistic expectations.
  • Promises to work miracles without any hard work
  • Excessive mental pressure due to high-level subjects
  • Lax approach to homework.
  • Refraining from any sort of physical and social activities
  • Selection of a course on the basis of money-making and not on the basis of likeness
  • Help them in finding their distinctive skills and talents.
Lastly, Finances are Important too

Every child has a right to decide his/her future and live out their dreams. However, with the growing costs, this may come out as a heavy burden on the parents. The costs of education are increasing day-by-day, and simple savings accounts are too short to cut on those expenses. Which is why it is crucial for parents to start investing in child education plans. These plans help in covering the mammoth costs of quality education that can help in paving a path to their child’s success. One can calculate the amount of sum assured that will be required for their kid’s education on child education plan calculator and purchase a policy accordingly. Moreover, by buying a child plan parents can also claim a tax deduction up to Rs. 1.5 lakh under Section 80C.

Summing Up

Parents have a significant influence on the level of training and education their kids receive. The knowledge a child needs to know about the different occupations; the beliefs and ethics they will need to follow while working, and the motivation they have to succeed are all provided by parents. Therefore, it is vital for parents to teach their children everything that can help them in making the right decision.