Inspired by the recent thread on what lives their children will be able to afford...
Pretty outing so I'll spare some details, but I had a horrendous childhood. Raised in a run down, neglected council home by a SAHP on benefits with huge mental health issues. Did most of the housework/raising of my younger siblings, including worrying about budgeting the few ££ left after alcohol spends and how to make it stretch to actual meals. Well versed in convincing bailiffs to leave us alone etc.
Fast forward 20 years, I've left that life behind (mostly! Said parent is now living with us for various outing reasons, but it's fine). I've climbed the corporate ladder, had an unplanned but wonderful DC solo, brought a house, have savings. Life is good!
I'm going to have savings for DC to go to Uni/gap year/whatever they want to do, as well as a hefty house deposit, and I plan to take great joy in providing them with whatever they need (provided they keep a sensible head on their shoulders!)
However... how do I ensure they doesn't turn into an entitled, arrogant rich kid? Honestly I've never worried about this because I've been so focused on making sure the money is there should they need it. Currently they get whatever they ask for within reason (sometimes waiting til Christmas/birthday, but oftentimes not) - they're primary aged and so far don't seem insufferable, actually the opposite - thankful and kind and generous with the things they have! But I am suddenly ultra aware this could change 😂
So... if you have/had enough money to 'spoil' your kids but they turned out ok, how did you make sure it didn't get out of hand? What financial lessons did you teach? Did you deliberately not help when they got into sticky financial situations so they could learn?