10+ Mistakes Every Parent Should Avoid for Their Child’s Financial Future

Fearing for their children’s futures, parents search for universal parenting techniques that will put their kids on the route to a prosperous job and a happy life. But times are changing, and the old principles of success are no longer relevant. Sometimes, parents’ actions, intended to be helpful, can actually create challenges for their children’s future.

1. Not allowing their kid to fail

Perfectionist parent often strives for perfection themselves, leading them to expect increasing levels of perfection from their child as they grow older — from the child’s artwork never being good enough to their bed not being made perfectly or not studying hard enough. The child faces constant criticism and reprimands but is never allowed to learn from their mistakes. Children of perfectionist parents may grow up to be perfectionists themselves or develop low self-esteem and lack confidence. Both outcomes can negatively impact their future careers.

  • Anna’s mother always compared her to Mary, saying, “Look how tidy Mary is compared to you, Anna!” Despite Anna’s efforts to emulate Mary, she never measured up, and her mother’s criticism only intensified. Anna’s mother never allowed her the chance to improve her habits and learn basic skills. Now at 25 years old, Anna still compares herself to others and always comes up short in her own eyes. Needless to say, this constant comparison has taken a toll on her self-esteem.

2. Paying a child for good grades

This topic remains a subject of debate, but consider this perspective: imagine yourself as a contractor continually paying more for a product or service, with the child as the supplier providing it in exchange for money or rewards. It doesn’t sound like a good idea, does it?

  • Alexandra’s parents sought to motivate their daughter to excel in her studies by offering money as an incentive. Initially, Alexandra’s grades improved, suggesting the approach was effective. However, her parents later discovered that she had been fabricating stories about an imaginary illness and sharing them with her teachers. She even falsely claimed that her parents constantly criticized her for poor grades. The sympathetic teacher then raised Alexandra’s grades out of pity. Following this incident, Alexandra’s parents discontinued the practice of paying for grades and sought guidance from a child psychologist.

3. Preventing their child from expressing their feelings

Sometimes, adults dismiss a child’s feelings as wrong — insisting that bruises don’t hurt, feeling anger toward a child who hit them is shameful, or being sad even with a valid reason is incorrect. Parents often do this with good intentions, wanting to teach their children proper behavior. However, it’s crucial to recognize that a fundamental skill for modern individuals is the ability to acknowledge and manage their feelings, emotions, and needs.

  • Kate, now 37, vividly remembers how her mother forced her to give away her beloved doll to another girl, admonishing her for being “greedy” and scolding her for getting upset over a “stupid toy.” Kate never got her doll back. Over the years, she has worked hard to assert herself, learning to say “no” to demanding people, including her boss and coworkers. Despite this, Kate often feels guilty whenever she refuses to comply with their requests.

4. Failing to support their child in front of strangers

Every child needs the assurance that their parents will stand up for them in any conflict, regardless of the situation, and won’t blindly trust the words of authority figures like teachers, principals, or neighbors. When parents allow their children to speak up for themselves when they are ready to take responsibility for their actions, it helps them develop healthy self-esteem and a sense of personal accountability.

  • Maggy was raised by her grandmother, who often said, “But what will other people think?” Although her grandmother loved Maggy and wanted the best for her, she constantly emphasized the importance of public opinion. As a result, Maggy struggles to make her own decisions and even relies on her friends’ opinions when choosing something as simple as dessert.

5. Drawing inspiration and comparing to successful people

Each generation has its own set of heroes whom young people aspire to emulate. In recent decades, the tales of personal success from wealthy and influential individuals have become widespread. However, it’s not as simple as learning their life story and achieving happiness. If it were that easy, everyone who reads their books would have solved all their financial problems by now.

  • Alex developed a passion for computers from a young age. Inspired by the story of Steve Jobs that his dad shared with him, Alex immersed himself in learning everything about Apple. When it came time to choose a university, Alex initially believed he didn’t need higher education because Steve Jobs succeeded without it. Eventually, Alex realized the importance of education for his path and pursued college to advance his career. Now, Alex jokes, “What worked for Steve Jobs is just a waste of time for an ordinary guy like me.”

6. Pressuring their child to decide on their future career

The notion that a person should stick to one career for their entire life is likely outdated and impractical. Many modern occupations didn’t exist a decade ago, while others have already become obsolete.

  • Since childhood, Max had a passion for exploring computers and understanding various software programs. Despite his parents’ concerns, he pursued this interest and eventually discovered online courses in software testing. Now, he is thriving in this field, leveraging his potential and skills.
  • Laura, at 37, worked as a sociologist for a major consulting firm but found it challenging to maintain her career after having her son. During maternity leave, she rediscovered her love for photography. Starting with unique photos of her child, Laura progressed to offering photoshoots for friends’ and acquaintances’ kids. Over time, she opened her photo studio. Laura now earns as much as her husband and successfully manages her professional life while caring for her family. This shift exemplifies the evolving nature of careers and the importance of embracing new opportunities.

7. Arguing about money

Since children may absorb long-lasting messages from these circumstances, it’s crucial to avoid arguing about money or other matters in front of them. Instead of one-on-one conflicts, which can cause youngsters to take sides and become distressed, talks should be led in a way that promotes involvement.

  • Chris grew up witnessing his parents argue about money. When he went to college at 17 and moved away, he struggled with managing his finances and spending on unnecessary items. He now fears starting relationships, believing that money is the root cause of his sadness.

8. Prohibiting the child from using social networks

Social networks have become today’s equivalent of the yards and neighborhoods where we used to play as children. Kids can learn valuable skills through computer programs integrated with social media platforms. While parents should remind their kids about online safety rules, depriving children of this experience can be harsh.

  • Aria’s mother was surprised to discover that her 10-year-old daughter had learned to create cool videos. Even more surprising was the realization that Aria had learned this skill from using TikTok. Now, creating short videos has become a family hobby for them.

9. Teaching the kid that they have the stuff at home

Many of us recall times when we asked our parents to buy us things, only to hear, “We already have that at home; we don’t need it.” Some parents repeatedly expose their children to such situations, unintentionally discouraging them from getting what they truly need. This pattern can significantly impact their financial habits as adults. On the other hand, constantly satisfying a child’s every need can also have negative effects.

  • Jan’s mother often tells him they have things at home and they don’t buy them from the store. Jan has learned to overlook his needs, and with each subsequent request, he withdraws more, knowing not to ask. When Jan grows up and earns his income, money will go towards trivial things because that’s how he’s learned to live.

10. Preventing children from getting into conflicts

The ability to engage with others is perhaps one of the most crucial professional skills one can possess. It’s important not only to help children make friends but also to teach them how to engage in healthy arguments. People often hold differing opinions, and there are various ways to express emotions. The sooner children grasp this concept, the easier their interactions with others will be, including in professional settings.

  • Michaela spent her life avoiding conflicts, preferring to agree with others rather than engage in disputes. She believed that someone always had to be the “smarter” one, but this approach proved more harmful than beneficial. One day, Michaela learned about active listening and decided to apply this approach in her professional life. She excelled at paying attention to others’ perspectives while also expressing her feelings when others attempted to take advantage of her. Initially, people found her communication style unconventional, but conflicts with coworkers became more constructive, leading to mutually beneficial resolutions.

11. Helping their child learn to save money

The world is always changing, and old ways of making or saving money might not work anymore. We can’t predict what skills will be valuable in the future economy. That’s why it’s important to teach kids to be flexible and ready for change, not just to save money.

  • Emily’s grandfather saved money his whole life “just in case.” But when that “case” finally happened, a financial meltdown made all his investments lose value. Emily saw this while growing up, and now she’s worried the economy could collapse at any time. She believes the best investment is in her skills and knowledge.

12. Trying to build a strong character with the help of sports

While there’s a widespread belief that sports are beneficial for discipline and character development, excessive competitiveness in professional sports can be detrimental to a child’s physical and mental health. This competitiveness can be fueled by both fellow young athletes and coaches. Only a few individuals become champions, and coaches often prioritize these select few, neglecting the rest of the team. Coping with this unfair treatment at a young age can lead to low self-esteem and confusion about alternative life paths if a child must stop playing sports.

  • Tom’s mother pursued rhythmic gymnastics as a child but had to abandon her Olympic dreams due to a leg injury. When Tom was three, his mother enrolled him in gymnastics classes, hoping he would excel. However, Tom struggled in this sport, leading him to lose interest in school, feel like a failure, and struggle to identify his strengths. Now, Tom is studying to become a child psychologist to help parents navigate the challenges of raising children without making the same mistakes.

Being protective of your children is natural, but it’s important to set boundaries. Respecting their privacy is crucial for a healthy parent-child relationship and their personal development. Violating their privacy can have serious negative effects, especially on their mental health.

I Invited My Colleague to Secretly Introduce Her to My Single Grandson – My Heart Stopped as They Saw Each Other

Elsie just wants Josh, her grandson, to meet someone with whom he can consider settling down. When a young new teacher enrolls at her kindergarten, she thinks that she has hit the jackpot. But when Josh meets Allison, Elsie learns that they already have a connection.

I’m a meddling grandmother. Not in a bad way — I just want my grandson Josh to move along with his life. He’s 27 and spends most of his time at work or gaming.

During weekends, he stays at home, working on something around the house, or gaming.

“You need to get out more, Josh,” I said. “I want you to live your life to the fullest! Don’t you want to meet someone?”

“I get it, Gran,” he would say, pausing his game. “But I’m just not interested in that at the moment. Work is taking up all my time and energy, and I don’t think that’s a bad thing.”

“You’re not getting any younger,” I said, handing him chips to snack on.

“It’s because you’re surrounded by kids all day, so you just want great-grandchildren,” he laughed.

Josh wasn’t wrong. I was a kindergarten teacher, and I loved every moment of it. But I was done with the life of raising children away from their homes. Now, at 70, I wanted a quiet life of knitting and baking — a soft life, as Josh put it.

I’m leaving my position at the school at the end of the year. And maybe it’s just maternal instinct, but I wanted to know that Josh would be okay and not so alone.

A few months ago, we welcomed a new teacher at the kindergarten, Allison.

She was a few years younger than Josh, and I loved having her around during the day. So, of course, I thought about setting her up with him.

But I knew my grandson — Josh would never agree to an arranged date. He probably wouldn’t even show up.

The next best thing was to invite Allison over for dinner, where Josh would be forced to meet her.

“Alli,” I said to her one day during school. “Would you like to come over for dinner?”

“Yes! Of course, I would, Mrs. Barnard,” she said. “Since moving here, I’ve really missed family dinners. This will be great.”

I arranged for Allison to come over for dinner on a Friday evening. She went on and on about coming early to help with the cooking or bringing things over.

“Please just let me help, Mrs. Barnard,” she pleaded, as she helped me put the toys away one afternoon.

“You can bring dessert,” I told her. “And call me Elsie.”

I loved her.

And I knew that she would complement Josh well.

But nothing on earth could have prepared me for the connection between Josh and Allison.

That evening, as I was setting the table, Josh walked in.

“What’s this about?” he asked, nodding to the table.

“We’re having a new teacher over for dinner, okay?” I said, putting the cutlery in place.

“Sure, do you need me to help you?” he asked.

Allison arrived, her presence a breath of fresh air, carrying a cake with her.

She hugged me at the door and made herself at home — while Josh was still in his bedroom.

And then, the entire evening was turned upside down.

“Allison?” Josh’s voice came from the doorway, a mix of disbelief and an inexplicable hint of recognition.

“Josh?” Allison answered, her eyes wide. “Mrs. Barnard, this is your grandson? Josh?”

Confusion wrapped the room like a thick fog.

“Wait, you two know each other?” I asked, my heart racing at the possibilities of their connection.

“Yeah, Gran,” Josh said, sitting down.

“How?” I pressed on. We were past the niceties; I needed to know more.

“Allison is my sister,” he declared, each word resonating with the weight of a thousand unspoken stories.

The room fell silent.

“Explain, please,” I told Josh.

Josh isn’t my biological grandson. In fact, I had spent years of my life wanting a child, but I struggled with personal relationships. So, when I was 48, I took the plunge and went to an orphanage.

That’s where I met Josh. He was 5 years old and was a survivor of an accident in which his parents had died.

“Elsie,” Mandy, the social worker, said. “He’s a great kid! He’s curious, charming, and polite as ever. He just needs a chance to get out of here and live.”

When I met him, he was a scared little boy who had lost the most important people to him.

“What about the rest of his family?” I asked. “Wouldn’t they come looking?”

“There isn’t anyone else,” Mandy said. “We’ve searched. Which is why he had to be separated from his sister, too. She was adopted three weeks ago.”

“And the family didn’t want to take Josh?” I asked.

“Sadly, no,” Mandy admitted. “They just wanted the youngest child we had, so that they could have as much of her childhood as possible.”

In the end, despite my asking for more information about Josh’s sister, there was just no way such confidential information could be given out.

I adopted Josh as his grandmother because I was already going gray, and I didn’t want anyone to ask him why his mother was so old.

Eventually, on his 15th birthday, I told him the truth about the adoption — but nothing about his sister because I just didn’t have the information.

So, Josh has known the truth — or as much of the truth as possible.

“Tell me,” I pressed on.

“Gran, after you told me the truth about me being adopted, I felt settled. I mean, you had chosen me, after all. But I just felt that there was more to the story, you know?”

I nodded. I didn’t want to interrupt him. But I would choose this boy every single time.

“So, a few months ago, I went back to the orphanage, and I was told about a sister — Allison. And they were able to give me information because we were biological siblings.”

“And then, Josh found me on Facebook,” Allison chimed in. “We’ve been talking for a while. Although, he didn’t tell me the truth at first.”

“Well, I didn’t know if you knew the truth or not,” Josh retorted. “I couldn’t just say that I found your details in an old file at an orphanage.”

“I didn’t think that our first meeting would happen here, in your home,” Allison said.

“I think we need some dinner,” I said, waking up to get the food.

As we sat down at the table, I silently observed Josh and Allison’s reunion. I had absolutely no idea that there was a possibility that they could have known each other, let alone be siblings.

Josh ate quietly, processing his thoughts while he chewed. Allison’s eyes were glazed over — I wondered what she was thinking, and whether she was okay.

“Gran, why did you invite Allison over?” Josh asked, pouring more wine.

“Because I wanted to play matchmaker,” I said honestly.

Allison started giggling, and soon the room echoed with laughter.

The sense of awkwardness that had initially overwhelmed me transformed into a profound joy — I had hoped to bring love into Josh’s life, never imagining it would come in the form of a sister’s bond long severed by fate.

But their roles in each other’s lives were restored.

Later, when Allison took it upon herself to do the dishes, Josh and I stood outside.

“I can’t believe this,” Josh whispered, his voice cracking with emotion as he turned to me.

“I’m as surprised as you are,” I said, looking at the night sky.

“You’ve given me so much,” he said. “And now, you’ve unknowingly brought Allison back. We’ve been talking, but neither of us had the courage to actually meet.”

The rest of the night unfolded with stories of childhood memories lost and found, of heartaches and hope, and the unshakeable bond of family.

As I lay in bed that night, the house quiet once more, I couldn’t help but feel that their meeting was predestined by some other force.

At least now, Allison will be in Josh’s life, in some capacity or another.

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