Having a child particularly in an African setting is one of the yardsticks for measuring a successful marriage. Therefore, a couple who do not have one, in some cases go the extra mile to achieve that, but the cost of raising these children remains a very critical issue.
The costs of raising a child seem exorbitant and it has posed a great difficulty for parents in developing countries such as Nigeria where poverty, lack of education and unemployment persist.
Despite the situation, you do not need to be caught in the web of financial extravagance. To some parents, they believe in spending excessively for them to successfully raise their children perhaps to suit their standards. In the long run, reverse the might even be the case.
This spending is mostly witnessed often in the area of education, residential choices, food choices, choices of the clinic (especially for a new couple) and others.
More than a few parents think that when they keep pumping quantum of money on their children in a bid to make the best out of them they tend to achieve positive results.
The same thing applies to food choices; they also believe that when their children eat well-balanced food, a good result too is achieved. This may be true or not because there are factors that could prevent or make it happen, but it is advisable to plan, spend wisely and keep records of financials.
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Whatever the case may be, there must be a carefully mapped out spending technique by any parent to ensure a fair spending pattern on children’s upbringing.
Parents should take in to be able to note those areas that usually drive away their income, take cognisance of these factors and properly channel their income to it.
Further, the life quality you give to your children is a key that is supposed to be traded with caution. This does not mean depriving your children of some goodies of life, the fact remains that caution should be applied in every spending. You can still give a qualitative life to your children by spending wisely.
Conclusively, it is the future that matters, and there is no better future if today is not being properly financially planned. That is why; it is very important parents save any little amount of their income by compelling themselves to do so irrespectively of the situation. Parents do not have to spend unwisely in raising their children even if the financial power is unlimited.
Justice Godfrey Okamgba
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