​​How to ensure your kids become financially independent? Mrin Agarwal answers

economictimes.indiatimes.com:

«There are websites where for example, teenagers, like kids who are in high school can look for internships. Of course, they are not going to be like highly paying, but I think this is a very-very good way to build responsibility,» says Mrin Agarwal, Founder Director, Finsafe.How do you ensure that in the long run your kids do not become financially dependent on you?Well I think a lot of this honestly happens through two ways; one is through our actions and second is talking about it. Unfortunately, I think both of these things we are not doing these days as parents.

So if you see typically one does not really talk about money matters at home and whatever the financial difficulties the parents are going through they will still ensure that they are paying for the child's education. But apart from that they are also paying for all sorts of expensive courses and tuition and stuff like that. And parents are also taking loans or mortgaging their property to ensure that children get the best quality of education and rightly so.

But the point being that somewhere I think these conversations should also include the children because the children need to be aware as well of the difficulties that the parents are going through and in order to also value the amounts that are being spent. I do see sometimes that that children take it for granted that we will go to let us say abroad or let us say an expensive education right. So I think this is really important.