If you are a parent then you will know how tricky parenting can be. The fact that you love your children so much can mean that you will want to help them out in all sorts of ways. As babies they will rely on your completely but as they get older, they will get more independent. However, even when they are grown up parents will still have a tendency to want to look after them. This means that whenever the children are in trouble, they will want to help them and this includes in financial trouble. Therefore, when something happens, such as them getting a payday loan, parents may want to step in and help. Sometimes this can be a good idea but sometimes it may not be. It is worth thinking things through quite carefully.
Will they manage alone?
To start with it is wise to check whether they will be able to manage on their own. It can be best to just leave well alone and if they are managing let them do so. It can be easy to offend your children if you offer to help them when they do not want help. It can therefore be better to leave them to it. Sometimes even trying to give them advice on what to do can be difficult and you might be greeted with defensiveness or they may even get offended. Therefore, it is best not to consider offering any help unless they ask for it.
However, even if they do ask for help you should think hard about whether you are going to give them any. It may sound very mean but there are some very good reasons why you might consider not helping them.
Will they learn?
Firstly, you need to think about whether they will learn if you help them out. If you rescue them from financial difficulty, whether that means repaying a payday loan or anything else it might mean that they do not learn from the experience. They may feel that it does not matter if they do not worry about looking after their money as there will always be someone who can come along and help them out. This is fine if you know that you will always be there to help them but this is unlikely. You will be likely to not be around as long as them and so there will be a point when they will no longer be able to come to you for help and they will not know what to do. They could end up getting into serious financial trouble without you there and so if you can teach them now how to manage their money properly, this situation could be avoided. It can be hard to help in this way, but if you are able to carefully explain the situation and why you
Can I afford it?
It is also really wise to ask yourself whether helping out is something that you can afford to do. You might think that if you have the money available now then you can afford it, but it is wise to look into the future as well. Think about whether you might regret helping because you might need the money in the future. You might be better off putting that money aside so that you can use it to fall back on. You might need to replace items that wear out, do repairs, move apartments or pay to study new things. You might need healthcare, holidays, a car or all manner of things and everything you need will cost money. It is therefore really wise that you make sure that you take care of your own needs. If you do not do this then you could regret helping them out financially and it could have a negative effect on your relationship with them. You will also need to think about whether they might start to rely on you more and more. Once you help them once they might keep asking for more and more help. This could mean that you will run out of money and not be able to help them again. This could be a big problem as they may be reliant on you and suddenly have a lot of financial problems and no longer be able to get any help for any of them.
So as much as you might want to help, it could be wise not to do so. It might be that you will be causing more problems than you solve. It would be ideally better if you can help them to manage themselves or allow them to learn from the situation. This might keep your relationship better with them in the long run and will mean that you will have more money if you need it in the future. It may seem very hard but it could be the best thing that you can do for them.