This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
1 thing parents need to stop doing with their money
I never desired to have to move in with my parents unless it was by choice. Growing up, I asked my parents how I could earn money by completing work. My worth ethic put me over the edge financially. I never had to ask my parents for money because I made it a point to work for it and always have it.
Financial independence is underrated, and many people take it for granted. If you’re a parent, you not only have yourself to care for but your children.
Though I’ve never been a parent of human children, I’ve watched several parents dig themselves into early financial burials.
How do they do this?
Parents Prioritize Others Before Themselves
They prioritize taking care of others over taking care of themselves. A perfect example is parents who pay for their kid’s college.
It’s a noble effort, but I don’t believe parents should pay for their kid’s school – even if they have the money to do so.
Though many kids who have their school paid for are successful, it is their responsibility to seek an education and better their future.
Getting handouts can be debilitating.
My parents didn’t pay for my school. I did. And I was jealous of the kids whose parents did pay for their school that were around me during college. But I also noticed something different; I took school more seriously than some of them and had healthier financial outcomes than many.
I paid for my schooling with my money and with student loans. My mother took out a parent-plus loan for me, which I’m forever grateful for. But I never had her pay a dime to it. I also paid the loan off early, so she wouldn’t have that debt lingering on her shoulders. But it was also for me; I don’t enjoy owing people money.
An Alternative To Helping Your Kids With School
If you want to pay for your kids’ school, let them take out student loans, seek out scholarships, and work as their schedule allows.
After they graduate, gift them by paying any of their student debt off. That’s a natural gift.
Parents Prioritize Others Before Themselves
Parenting is a selfless act. It’s a dedicated lifetime of putting someone else before yourself, but it should never be to your detriment.
Parents should never avoid investing because they’re putting away money in a college fund or taking their kids on vacation somewhere they’ve never been.
It’s all about balance. There is a way to offer your kids the world without sacrificing yours.
The Most Important Action For Parents
Start investing and never stop investing in anything or anyone. Do not sacrifice your financial future even when you don’t know how to make things work.
Too many parents in their 50s, 60s, and 70s don’t have any savings because they gave all their money to their kids or everyone and everything else.
You might think giving to everyone else is noble. It is, but it’s also financially irresponsible behavior. If caring for someone else hurts you, it’s time to rethink your strategy.
Once you hit that retirement age, your children shouldn’t have to bear the financial burden of your care. It should be optional because you consistently prioritize your financial well-being.
Parents Shouldn’t Pay For Their Kid’s College
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.