One of the things that I have become increasingly aware of when I became a mother is my mortality and how it affects my children should anything happen to me. Growing up, the most I’ve been taught about preparing for my financial future was to save a portion of my money and put it in the bank. No one explained to me how it works except that it would be something I can withdraw in cases of emergency.
I guess, one of the things that contributed to my ignorance on these things was my youth. I lived quite rebelliously and recklessly, after all, I was young and only cared about myself and no one else. When you’re young, it’s easy to get lost in the moment and think it’s always going to be the same. And you tend to think there’s always tomorrow to worry about the rest of your life.
Motherhood and Mindset shifts
But motherhood changes you. I know it changed me. Life was no longer about me alone. The minute my eldest child was placed in my arms, I knew that I would do anything in my power to ensure that he will have all the opportunities he deserved, and more. And I feel just as strongly for my two other children.
But here’s the thing – my poor financial decisions in my past had boomeranged on my adult life. My husband and I struggled for years and it’s quite a fight we have to put up to be able to give our children the same opportunities other kids have.
Dealing with sudden death
Then, about 7 years ago, my brother unexpectedly died of a heart attack in the middle of the sea, while scuba diving in Batangas. He was only 47 years old. He left behind three children, one of whom was still a baby. I saw the quality of legacy he left to them when he passed.
It was a wake up call for me to get my act together.
So, if there’s anything I’ve learned from this journey, it’s these 3 things:
1. Manage our finances wisely.
Money comes and goes. I think the Pandemic has sealed this for us. A lot of people lost businesses and sources of income during this time. So it is best to wisely allocate our finances when they come so that we can be ready for the rainy days.
2. Sacrifice, if we must, to ensure the future of our children.
What would happen to our children if Jay or I will get into an accident and become disabled? Or if one or both of us suddenly die? It all sounds so morbid, I know, and it’s so hard to talk about it. But the truth is, not dealing with it doesn’t make the realities of this life go away. The only thing avoiding it will do to you is make you lose time and delay you from preparing for what may happen.
It will take some sacrifices on our part, but if we love our children, we will do whatever it takes to ensure their financial future before it’s too late for us to do so.
I think this video gives us a clearer picture of what it’s like to truly love our children:
3. Pass this wisdom on to our children while they are still young.
Our children earn their own money from professional projects, so we teach them how to save them and invest them. And this early on, we teach them about insurances and the benefits of investing in these insurances while they are young.
Like I said earlier, I didn’t know any better because no one taught me these things while I was growing up. To stop the cycle, I must pass on the things we’ve learned to our children. Teach them the value of investing in their future and the future of the people they love early in their lives.
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