When many of us hear the word “money” it triggers both a practical and an emotional response. On the one hand, one may think about what one is earning, the bills one has to pay or what one would like to buy in the future. That’s practical isn’t it? There is also the emotional reaction to money. One might just feel overpowered, overwhelmed or feel the need to be in control. On the other hand you may feel comfortable or in charge.

Whatever you may be thinking or feeling about money can and will very well influence how your child will view and at long last handle money. Sometimes in 1998 a survey was carried out on Teens and Money and it showed that 77% of those between the ages of 12 and 18 learned a lot about money matters from their parents, either consciously or unconsciously. This is one of the reasons why we need to ensure we get it right as parents so our kids can learn the right things from us.

Today let’s look at how our thoughts affect us with respect to money. As parents, we continually face the demands of paying the rent, housing loan or maintaining our house, paying the hospital bills, buying foodstuff and ensuring that the family is fed, pay monthly bills such as DSTV, telephone bills, water rates, electricity bills, etc. In addition to all these we are also planning for future disbursements such as vacation, our children’s university education, retirement, etc. All of this we have to do whether we like it or not and whether we are comfortable or distressed. It’s just our responsibility and we try our best to handle it.

As much as possible we need to map out how we’re going to get the money we need, decide what we must or would like to spend it on and how much we can save for the future. As we can see being practical dictates our actions here. Being practical is important because it allows you to deal with your money responsibilities every day in the right way. Once preparation meets opportunity, the sky is the starting point. We only become overwhelmed when we are not prepared. And like the cub scouts motto says, I encourage you today to “BE PREPARED” for all your money responsibilities. There is capacity in you to do anything you choose to do. YOU CAN DO IT! YES YOU CAN!

Do have a restful weekend!

– Gbonjubola Sanni