Lisa Simpson
Jun 8,2010
In: Foreclosure

Bringing Up Children in the Post Recession Period is Challenging

The foreclosure crisis has brought about a total change in the socio-economic scenario and parents are facing the problem of bringing up children in the post recession period. The task is proving to be challenging especially among the affluent and the upper middle class. In changed times, without jobs many children are returning to the parental home.

The parents want the children to learn the value of work and not to take everything for granted. They feel that the children should know how far the dollar can be stretched and how much work has to be put in to earn it.

From the very beginning for the long term welfare of the children the parents should take a stand – the adult children would have to pay a rent for staying with their parents. Secondly tight regimentation of the summer schedules of the children should be avoided so that they get a chance to independently make choices. Thirdly parents should not give undue focus on formal education as this causes neglect of social and financial education. Last but not least the parents should get out of the habit of solving all the problems of the children and stop spoon feeding them.

Then how can the child be helped to get to face the outside world – with a job or career? It could be a difficult task said the CEO of Independent Means, Joline Godfrey. A year ago this problem was confined to the slackers but today it is about educated kids who are facing difficulties in finding a meaningful path to walk on – something that will help them to maintain the standard of living they are used to.

She advises that two goals should be set for the children who are not on subsidies and need to put on a proper track. There should be a discussion between the children and the adults but mostly it is the parents that have to understand that apart from educating the children there is much more to be done. So far the middle class families have reasoned that by investing in a good education for the children they have done their best and now the kids should stand on their own feet. But today the question is not about how much dollars they have but the network of their connections.

It is good to take the advice of a career counselor but it is not good to pay out monthly cheques as doles to the children.

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