Spoil your kid with love, not money

[bjl584]

Here's a short little article about the dangers of financially supporting your children too much. The book, "The Millionare Next Door" pays a lot of attention to this very subject.

News Headlines

[jamesparker100]

Agree with you,it goes against your child in future if you keep on spoiling with money...

[couchrobt]

This is just but normal. Most parents tend to spoil the kids with the material things due to the reason that parent's time are getting harder and harder to 'avail'. Sad but true. More time are spent at work than at home. But this should not be left unfixed. Try to instill love more, find time everyday, even the shortest time possible as long as it is spent on a daily basis.

[Frugal]

My parents did not spoil me, and made me pay for all my college. However, I think they should take into account that their kids may come out of college without any money, and should be a little more lenient and understanding, if that kid is doing the best they can and working the whole time to support themselves.

I think it is good to teach children good financial habits while they are young. "Train up a child in the way he should go, and when he is old, he will not depart from it" (paraphrase of Proverbs in the Old Testament). I think this is very wise advice, and I will use it someday myself.

Have seen a lot of children I grew up with get spoiled, and have many problems later being financially accountable.

[canada94]

I agree with some of the comments, but at the end of the day, children are not asked to be brought into this world, when they do, they should be provided what they need, and sometimes a lil of what they want.

[adyboy]

It's so hard to follow the advice that is given on the article. But there is a flip side to this too. Watching kids struggle is one thing, but then you also start thinking that you do value some things only at a certain age. Like a new cellphone doesn't really matter in older age but it does when you're young. I don't know but sometimes i feel like my kids should'nt have to struggle too much.. Of course a little bit is fine..but too much?

[shanecurran]

I think it is a good idea to have your children see the effect of the college they choose. If you have set aside money for college put them on a stipend. If they are able to save money in the process, it is worth more than you would have payed for a "better school". They will learn life lessons. It will make them think twice about going to that out of state school. It forces children to internalize the cost.