{"id":266,"date":"2019-04-12T12:28:51","date_gmt":"2019-04-12T12:28:51","guid":{"rendered":"https:\/\/staging.daris.io\/?p=266"},"modified":"2022-04-26T14:46:16","modified_gmt":"2022-04-26T14:46:16","slug":"the-little-emperors-how-soon-is-too-soon-2","status":"publish","type":"post","link":"https:\/\/www.wfan.in\/blogs\/the-little-emperors-how-soon-is-too-soon-2\/","title":{"rendered":"The Little Emperors \u2013 How soon is too soon"},"content":{"rendered":"

I recently attended a parent workshop at my toddler\u2019s school, \u2018How much is too much \u2013 help your child by understanding how to manage screen time and create healthy boundaries with digital devices and content.\u2019<\/p>\n

One of the key factors, explained the expert facilitator, was to start early! When the child is young, it is easier for parents to set boundaries, say \u2018no\u2019 and offer alternate modes of engagement; make agreements, wean away and train on better habits, than when the child grows into the pre-teens and teens.<\/p>\n

Isn\u2019t it the same when it comes to understanding finances? I could draw so many parallels between Ms Fathima Khader\u2019s workshop around gadget management to wealth management for kids.<\/p>\n

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Most of us had that hundi\/ gullak (piggy bank) while growing up where coins given by our relatives were lovingly saved. That clink! clink! of dropping coins into our hundi put us in the most ecstatic state. Such a simple pleasure of life \u2013 to have money to spend at the street corner tuck shop.<\/p>\n

The generation of\u00a0little emperors<\/a>\u00a0today might need many dozen piggy banks to fund their branded demands for toys, gadgets, video games, birthday treats, social activities and for whatever their peers show off to them. They also seem to be born with a 9th sense (according to my 75 year old spiritual guide, this is a reality) and absorb all types of learning superfast!<\/p>\n

Isn\u2019t it then an essential life-skill, to equip ourselves with workshops like \u2018How soon is too soon \u2013 help your child by understanding how to manage their finances and create healthy agreements over spending and saving.\u2019<\/p>\n

Remember\u00a0<\/strong>Money is a powerful energy, a lot of energy! It is not simply a piece of paper or gold. No one crushes it and throws it somewhere. This piece of paper carries with it tremendous power as something that is alive and can do things!<\/em>(https:\/\/yourlifeandmoney.com\/yes-you-can-be-rich\/<\/a>)<\/p>\n

Our children should be able to learn and understand this as early as possible in life, to use wealth as a means to an end and not to let it shroud life and living itself!<\/p>\n

Conscious way to build your child\u2019s healthy relationship with wealth<\/h3>\n

Think about<\/strong><\/p>\n

1.\u00a0\u00a0How you, as parents relate to money \u2013 thrifty, spend thrift, emotional spenders, hoarders, investors.<\/p>\n

2.\u00a0\u00a0How does money work in your home? Is it a tool used to display your affluence to friends; is there a balance between saving and spending; does everyone get equally served by money; do you take care of senior members\u2019 needs with your money; do you share money via philanthropy and such questions.<\/p>\n

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Life & Money<\/a>\u00a0in collaboration with\u00a0The Garrett Planning Network<\/a>\u00a0in the U.S.A will enable parents to plan for their children\u2019s education and life\u2019s milestones though their\u00a0Women Financial Advisers Network in India<\/a>, being launched shortly.<\/p>\n

Through this holistic approach, the Advisers will offer fee-only financial life planning and investment advisory services to their clients. This will also enable their clients and the clients\u2019 families to lead a\u00a0\u2018healthy, wealthy, happy and meaningful life.\u2019\u00a0<\/em>To know more, please see our\u00a0brochure<\/a><\/p>\n

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As parents, what could you immediately adopt to help your children build a healthy relationship with wealth:<\/h3>\n