Becoming a parent doesn’t mean that you need to immediately upgrade your home and car.
Your kids won’t notice what you don’t have, but they will always notice how much you love them. It’s amazing to think that the simplest things can create a happy childhood.
Children just want to play, eat, feel safe and be loved. If you can provide those things, your children will likely recall a childhood filled with sweet memories. You’ve probably come across stories of successful people who grew up in poverty and you may have heard them say, “We didn’t know that we were poor.”
A child will never know what they don’t have until you tell them or show them.
Children only know what you teach them and what they experience.
For a window in their childhood, children have a tendency to be carefree believing that things are fine just the way they are.
It’s important for millennial parents to know this because so many feel that they must provide their child with the latest and greatest — the biggest and the best.
You may feel the pressure to buy a new home that’s big enough to raise your children in or an SUV that will comfortably fit the whole family. But the reality is, what you have now will suffice.
To a small child, a small and humble apartment is a cozy home, it’s big enough for them, and it’s a place filled lots of memories.
You may fill cramped, but children likely won’t.
Our children feed off of our words and or actions; they are constantly watching and listening to us. When they hear us complain, they suddenly realize that something is less than desirable.
They may even repeat the negative things that we’ve said.
It’s important to stay positive about what you have and what you are yet to have in order to create an environment that your child can thrive in.
So while you are building your dreams, stacking your emergency fund, getting out of debt and paying off student loans, remember that your kids are ok.
They are fine with the home you live in, they don’t mind the car, and they don’t really care if you have to eat the same foods all the time, as long as you give them an occasional treat.
Don’t feel pressured to provide the best of everything for your kids right away, communicate with your financial coach about when to make these milestone purchases.
Stay focused on the long-term goal of leaving a rich financial legacy, and a wealth of money knowledge.
We all know that our kids will eventually face peer pressure and learn about the latest trends, just like you did, but your love, support, and commitment to their well-being and financial security will be something that they will thank you for later.
Don’t despise your humble beginnings, they are something that will give you the wisdom to share later.