When should you turn off the "financial tap" to your kids?

Jump to Last Post 1-4 of 4 discussions (4 posts)
  1. Avamum profile image84
    Avamumposted 8 years ago

    When should you turn off the "financial tap" to your kids?

  2. kookoo88 profile image59
    kookoo88posted 8 years ago

    I honestly believe that a parent's job is to raise their kids then set them loose upon society.  Once they graduate high school, they should have the tools to suceed.

    After that, the parent has to let them live their lives.  Talk to them and be supportive, but don't intervene anymore, financially or any other way.  They're going to have hard times and they might even fail, but a parent has to let them work their way out of it.

    An important note is that there are times when it is okay to intervene, financially or otherwise.  A child can sometimes go out and get into some pretty serious trouble.  An abusive spouse or other bad situation can be difficult to overcome.  In that instance, rescue them, get them back on their feet, but let them give life another shot.  Don't try to hide them from the world, it won't work.

    I'd like to add that my financial tap only has a drip coming out of it.  *laughing*  My wife and I have already told the kids they need to figure out how to make it on their own . . . oh, and if they do become successful, they are more than welcome to move us into their mansion. big_smile

  3. wychic profile image85
    wychicposted 8 years ago

    Personally, I believe the best way is to never start...even when kids are very young, it's important to instill in them that money doesn't come for nothing. Even at young ages, children can be given opportunities to do extra chores and things that will earn them a little bit of money for the things they want. As kids get older, fewer and fewer things are provided to them without them expressly working for it. I really like the way my mom did it with my sister and I...once we were old enough to have jobs, she provided a roof, food, and sufficient clothes from the local thrift shop. Anything we wanted beyond that, we had to work for. As a result, by the time we had our own bills to look after we already had a good work ethic, and it was just a continuation of something we were already used to. There was never any talk of parents paying for cars, college, or anything else...we had to work hard and make our own way through loans, scholarships, and more. We learned the value of a dollar well, and have never even been tempted to fall into the credit card traps and such that so many fall into who learned financial management too late.

    That said, I'm guessing by the wording in your question that your kids are already older, so my personal opinion is that it's time to start drying up that tap right away. Once they're used to it, it can't just be taken away all at once, but gradually let them know what you won't be providing anymore while giving them the advice and tools they need to learn how to provide it for themselves.

  4. Avamum profile image84
    Avamumposted 8 years ago

    Thanks for the answers...the question is one that I have revisited many times in regards to my clients rather than my own kids.  I am still amazed at the attitudes of people in their twenties, thirties, and even forties who don't think twice in assuming their parents will fund their entire college education, first car, first house, etc.


This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)