A Father’s Role in the Family’s Money Matters. Fathers are the pillars of the home. A certain sense of strength and stability come from the head of the family. When it comes to a household’s budget, what do fathers usually impart to their children?
It is known that even in pre-historic times, it is the man who brings home what has been hunted. Today, there is an equality when it comes to work opportunities, but there are still expectations from men in particular. Men may no longer literally hunt nowadays, but that pressure of being able to provide for the family is always there. Because of this, values such as responsibility, integrity, and taking care of those who rely on you (physically and in any other possible ways) are usually the lessons a child can learn from his or her father––some of these lessons are driven home even harder especially during father to son conversations.
But what if the father in a family isn’t one to talk? That’s a bit of a snag right there, and this does indeed happen. Men, after all, are scientifically proven to talk less than women. To be fair though, sometimes, (both) parents don’t talk about money and while this may be acceptable during the earlier years, there comes a time when money talk should be given serious time and attention.
The Importance of Money Talk in Families — How to Ease Into It
Sometimes, adults may rely on the expression or thought that their children “will figure it out when time comes”. While this can be true, not all children—who ultimately turn into adults who go through most of the same things parents do—figure it out. There are times when not being told what to do in certain situations lead to complications further down the road. This is why talking about money is important, and this task sometimes falls on the father’s shoulders
Individuals who grew up in households where money wasn’t talked about can, in hindsight, identify where they could have handled things better had they been taught how. Learning the hard way is better than not learning at all, but would YOU want to pass down a similar financially hard situation to your child?
The all-important money talk doesn’t have to be a dreadful topic and it shouldn’t be skirted around. Parents can start small. Teaching a child the importance of money can start in the household, so a child can be more prepared for practical uses in the outside world. Budgeting can be taught by letting a child know that his or her allowance won’t be replenished until a certain date, and if they want to buy something, they should know how to save. From these little lessons at home, a certain sense of financial responsibility and accountability for one’s money can be instilled.
Sometimes, talking a little bit about money in front of the kids can help them understand and have a grasp on what’s being spent on the household or their own needs—clothes, school, and even the items they ask for. This isn’t to make them feel indebted, but to make them realize that they are fortunate when they are being provided for and that ultimately, they may find themselves in a similar situation. Opening their eyes early on can have a huge impact on their financial habits in the future, and this may lead to good money management skills.
When Things Don’t Work Out
Times can get tough, and when things don’t work out, another thing that can fall upon a father’s shoulders is throwing in the towel. Knowing when the household’s finances aren’t in a good place and making that call to ask for professional help is a strong, rational, and responsible thing to do. When you make this choice, know that we are here to help you and your family out. Allow us to take some of that burden off of your shoulders and open a path of less resistance when it comes to dealing with your finances.
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