# Parents, do you stress financial independence as a goal to your children



## NextTimeAround (Dec 15, 2011)

for when they become adults while continuing to bankroll your relatives?


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## jld (Dec 1, 2013)

NextTimeAround said:


> for when they become adults while continuing to bankroll your relatives?


We stress financial independence, but we don't bankroll any relatives.

Something going on, NTA?


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## Toshiba2020 (Mar 1, 2012)

Never really got a lecture from my parents but it was discussed openly how to be financially responsible and i used my parents as a milestone for how i wanted to live my life. They retired by mid 50's, no debt, house and cars paid in full and plenty of 401k and retirement money. I dont need the money but they do give me some from time to time, im sure ill do the same for my kids when i get older.

if you have kids that are being dependent on you into their adult years they need to be cut off and taught to live on their own(assuming they have no mental or physical disabilities). if they cant figure it out, just giving them money wont solve it. its a tough to admit it but some people just wont EVER be responsible when it comes to finances. i have a brothers who makes more money than i do but somehow manages to be horribly in debt and cant get his life figured out and hes going on 40 years old, at this point its pretty obvious he never will.


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## keepontrucking (Sep 26, 2014)

My Wife and I have always stressed the importance of financial stability, credit worthiness, and not living beyond your means (credit card debt). I had no one to teach me this, so early on i wrecked my credit, had cars repossessed, utilities shut off, bounced checks etc. I have since repaired my credit and bought my first home 2 years ago at age 47. Now heres the kicker, I guess our teachings have paid off, my son is now 23 and owns his own home and I couldn't:smthumbup: be prouder, my 19 year old is currently house hunting so we will see how that goes.


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## Thor (Oct 31, 2011)

Yup, we have stressed financial responsibility to our kids. While they were never given all the details of our finances, they were aware that we were constantly making choices about priorities and that we were being very careful about avoiding debt.

I gave all my kids Dave Ramsey materials. The girls were in college when I gave them books. My son was a senior in high school when I gave him the kit for teens which talks about avoiding stupid mistakes as a college student (don't buy pizza on a credit card, avoid student debt, etc).

The girls really soaked it in and are in great financial shape for early/mid 20's. S18 never read the booklet or watched the dvd. Seventeen is the wrong age, and he had already decided to take on significant student loans and I think he avoided watching the video to avoid being told he was making a financial mistake. Ideally I think a teen should get the material before they get started looking at colleges.

Both of my girls have mentored friends on the concepts they learned. e.g. using cash envelopes and having a budget.


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## EleGirl (Dec 3, 2011)

NextTimeAround said:


> for when they become adults while continuing to bankroll your relatives?


This is a curious statement. I get the impression that you are not really asking if anyone stresses financial independence... instead you are upset about someone who is bankrolling their relatives.

So what's going on?


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## jorgegene (May 26, 2012)

EleGirl said:


> This is a curious statement. I get the impression that you are not really asking if anyone stresses financial independence... instead you are upset about someone who is bankrolling their relatives.
> 
> So what's going on?


yah, what?


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## WalterWhite (Sep 14, 2012)

A person's credit standing is very often a reflection of their character.


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## unbelievable (Aug 20, 2010)

Grew up on a farm and I've been working as long as I can remember. Made absolutely sure my kids worked and respected the sweat that went into a dollar. Taught them to keep their word, to live within their means, to treat everyone with respect, and to not covet wealth or the useless crap of this world. The most valuable things in this world don't cost a cent. A man who has he love of his family and the respect of decent people is rich. None of us are taking the trinkets of this world with us when we leave.


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## OhGeesh (Jan 5, 2010)

Yes, but more the tools to be able to be financially independent. That means a viable trade or preferably a degree that is worth the paper it's printed on.

I believe strongly in education, but not going just cause only certain majors.

One daughter already screwed up.............I have 3 more kids to go all teens. All honors, all in a lot of activities, all seem well rounded, but so did the oldest.

We will see


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## RandomDude (Dec 18, 2010)

It's imperative education. My daughter is still young but I try to make sure she's not spoiled at an early age (I'm not doing a good job at it however admittedly) so by the time she reaches her teens she's able to learn what I have experienced throughout my life.

I do not want her to be dependent on a man for security. Yes, I'm a strong advocate for equality even I would definitely not consider myself a "feminist". 

But for me, I won't just stress the importance of financial independence, or stability/security. But freedom; financial freedom. Right now I hardly ever "work", and most of the "work" I do is seizing opportunities and putting them through my cash machines 
I have a lifestyle where I'm free, I want my daughter to live the same, to do what she wants in life without being forced to work.

As stable as I am and my ex's wealth due to her family I do not wish my daughter to grow up spoiled and lacking of the skills, knowledge, and mentality that has provided her security all this years. Making money is easy, you simply need the knowledge, experience, a competitive edge - and the ability to impress the right people. The competitive edge isn't difficult when you understand this saying:










For years I worked 84 hours a week, sometimes more. Wasn't simple labor either, had plenty of responsibilities that got loaded onto me. If my daughter learns this, I would be the proudest daddy in the world. However, time will tell.


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## Yeswecan (Jul 25, 2014)

Yes. We always have stressed financial independence. 

I have known a few to bank roll relatives. My favorites are those that circle like vultures waiting on a relative to pass so they can get inheritance. Trifling.


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