Planning for the child’s tomorrow

Michael

Staff member
Administrator
UF Member

Having a child particularly in African setting is one of the yardsticks for measuring a successful marriage. Therefore, couple who do not have one, in some cases go extra mile to achieve that, but the cost of raising these children remains a very critical issue.

The costs of raising a child seem exorbitant and it has really posed a great difficulty for parents in developing countries such as Nigeria where poverty, lack of education and unemployment persist.

Despite the situation you do not need to be caught in the web of financial extravagancy. To some parents, they believe in spending excessively for them to successfully raise their children perhaps to suit their standards. On the long run reverse might even be the case.

These spending are mostly witnessed often in the area of education, residential choices, food choices, choices of clinic (especially for new couple) and amongst others.

More than a few parents are of the opinion that when they keep pumping quantum of money on their children in a bid to making the best out of them they tend to achieve positive results.

The same thing is applicable to food choices; they also believe that when their children eat a well balanced food, a good result too is achieved. This may be true or not because there are factors that could prevent or make it happen, but it is advisable to plan, spend wisely and keep records of financials.

Whatever the case may be, there must be a carefully mapped out spending technique by any parent to ensure that a fair spending pattern on children’s upbringing.

Parents should take into be able to note of those areas that usually drive away their income, take cognisance of these factors and properly channel their income to it.

Further, the life quality you give to your children is a key which is supposed to be traded with caution. This does not mean depriving your children some goodies of life, the fact remains that caution should be applied in every spending. You can still give a qualitative life to your children by spending wisely.

Conclusively, it is actually the future that matters, and there is no better future if today is not being properly financially planned. That is why; it is very important parents save any little amount of their income by compelling themselves to do so irrespective of the situation. Parents do not have to spend unwisely in raising their children even if the financial power is unlimited.



Wriiten By: Justice Godfrey Okamgba
 

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