NURTURE, NOT EXPOSURE

Training a child is one of the hardest things to do as an adult. The thing is that these kids make you want to act mature because you wouldn't want it to be like you are incapable of training them. They expect you to have all the answers even though you know that it's not possible, but then you try to push yourself to be knowledgeable enough to give them the right answers at every point and pray they do not get curious and mischievous enough to experiment things they are not supposed to. This is where the part of nurturing comes into play. Nature here is carefully trying to groom them into people that would be relevant tomorrow and this is a lot of work, majorly because the work starts with you.

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To teach a child financial management, you must first be financially stable as proof that you manage your finances appropriately. A lot of us who spend money recklessly have grown up always having it with nothing to do with it. This is the first thing that I think every child needs to learn from a very young age. If I had learned this in time, perhaps I would have saved some money for rainy days. From my childhood, I always liked saving my allowances and financial gifts. But then my mother, like a lot of African mothers, would borrow and not pay back. This was when I learned to use my money before someone used it for me or someone else, I'm talking about my mother. When the money comes I would tell her I need to get probably a game or something at that moment so that I know I have my money worth at hand.

At a point, my mother realized that it was her duty to help me manage my finances and that was when she opened my first bank account for me at age 12. But then she did not keep up with the saving habit because from age 12 to age 20 when I withdrew the money she was only able to save 18,000 naira which I can't even remember what it was used for. So when I think about this, I tell myself that when I become a parent I would teach my kids how to invest before they spend. This is because I would like to incorporate the habit of investing money into them so it becomes easy for them when they grow up. The world system is moving at a very fast pace and children are learning at a very very fast rate. I believe parents can teach them young how and why to make financial decisions.

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Instead of buying a toy for $100 for that 5-year-old kid who will end up spoiling it at the end of the day, tell them if they put $50 in shares they could buy 10 more toys and ice cream and any other thing they want and make them press those buttons so they feel they bought it for themselves and like the idea of buying more in future. I think if a parent continues with this practice with their kids, the child will grow up learning to invest before they spend. Instead of giving them 1000 Naira for extra lunch, tell them to use 500 nairas and save the remaining 500 naira and by the end of a given period, they will get a gift if they can save up to a minimum amount of money that you've set as target.

Also allowing them to use part of that money for fun so they don't feel it's all about saving and investing. But the ultimate goal is they would have learned to save, invest, plan, set goals and hit targets even before they are teenagers. And they will always have their own money which for the parent is another saving mechanism that would be practised through the children. Hehe, let me keep this advice for when I become a parent 😂.

THIS IS MY RESPONSE TO HIVE NAIJA'S PROMPT FOR THE WEEK