“How parental divorce can make a child financially independent?” This was the topic which I always wanted to write and share with the readers. I can focus on the topic much clearly because I have gone through such phase during my childhood when my parents were about to file a divorce. To be very honest, that time I was upset and broken hearted. But, now I can understand that, they had lots of problems, from communication to financial views. They were simply different from each other. Since, they were not happy with each other, separation was the only fair solution to them.
Parental divorce has some negative impacts as well. It highly affects a child's behavior, individuality and thinking; especially, if the child is too young to understand the complexity of a relationship. Well, a psychologist can discuss the subject more clearly than me. But, I can only share those lessons which I learnt after my parents got separated. Parental divorce is quite common these days and I know my article will help those people who love to keep the problems at bay.
The first thing I learnt, “bad times are blessings in disguise”. Below are some other lessons that I had learnt.
It is very important to take time out for discussing "finance" with the person whom you’re planning to get married. Sometimes, I wonder if my parents would have got pretty good savings, then, they would have been a happy couple. But, before settling up their own financial condition they got married and the problem started. I, really don't want the same things happening with me. So, I decided to confirm my own financial security first, before tying knot with my partner.
Don’t think that “money topic” will play a role of villain while you're dating a person. “Money” itself is a vital topic and very important along with other discussions. I’m not telling you to discuss about your financial goals and whether or not your partner is following a strict budget, on the first date. But, knowing each other’s views on finance can help in future.. Remember, being on the same page about financial matters is very much required in a relationship. Try not to take the relationship into the next level, if both of your opinions clash on this subject (finance).
Such quarrelsome and unpredictable parents made me self dependent during my childhood. And when I left school and got admission into college, I had only one thing in my mind, that is getting good grades, scholarships and internships. So, I worked hard in a very disciplined way during my college days. I knew, I had to earn scholarship because no one else was there to fund my higher studies. Yes, I took out a student loan during my college days which I am trying to pay off these days.
“I have money, I can use it anywhere and for anything”. This attitude can only make you proud, nothing else. Household chores are not that tough.If you are in good health, it would be better to do your own household chores as this helps you save lots of dollars.
“Needs are expensive”. So, if you want to build a secured life, you need to be happy as long as all your basic needs are fulfilled. Lavish trip, frequent dining out can only reduce your paycheck. But if you live a frugal life, then you can make a big difference to your savings account.
You should learn about investments and other savings options in order to grow your money. Investment can help you accelerate income and savings. So, never miss out any opportunity to use this option and boost your savings. Read books on investment hacks. This will help you secure your financial future in the long run.
The most prime thing you can learn from your parents' separation, is the need for savings. Savings in every form is extremely necessary for securing the future. Try to save as much as possible on shopping, cooking, traveling, etc, through different offers, deals, coupons and budgeting.
The sooner you start saving money, the earlier you’ll become financially independent. There’s no need to depend on inheritance once you get financial security of your own.
For my parents, “debts” and “credit cards” were the most common topics to fight with each other. My mom was a believer of frugal life, but my dad loved to lead a life full of luxury. Starting from his cigar to his night wear, he used to maintain a signature brand, which was enough to ruin the financial condition and the relation too. My mom had failed to make him understand.
My parents’ separation helped me to grow a positive attitude towards life. I can adjust with the ups and downs easily. At least I can accept them as part of life. This attitude actually helps you move forward.
Finally, keeping a positive attitude towards life is very important and this helps to find happiness in trivial things. Thus, you can energize yourself to live the life in your own way. Also, keeping a secured and financial back up is needed. You need to calculate at least 12 months of savings before making any changes in life, such as: marrying, quitting a job, buying a car and so on. The more you can calculate, the better will be your financial future.