Creative Parenting Expert Nikki Bush was in studio with #WeekendBreakfast host Phemolo Motene to talk about teaching children financial independence. Bush brought with her colours and toys, making it a safe space for Phemolo to be a child again.
Bush shared a conversation she had with a mother who took out a RA (Retirement Annuity) for her child when she was 8. The mother stated that her daughter is currently 22 and responsible for her RA. Bush goes on to say that the child values what her mother started as she is more financially secure then most of her peers.
It's one thing to earn money. It's another thing to save money and it's another thing to grow money.— Nikki Bush, Creative Parenting Expert
There should be a conscious action when it comes to money because children tend to think that there is an endless supply of it.
Bush tells Phemolo a personal story of how she bought her son a plane ticket to Cape Town for a 21st Birthday. She goes on to mention that her son missed his plane which made him responsible for buying another one.
How else do we learn if we don't sometimes feel a little bit of pain?— Nikki Bush, Creative Parenting Expert
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This article first appeared on 702 : Bringing children up to be financially independent