This is a collaboration
For regular readers who have perhaps noticed the long list of educational and professional pursuits stated on my site, you’ll know that I’m a fan of following dreams and getting stuck in. A degree, a masters, and something of a varied career putting my brain to good use was once my lot in life.
Now I find myself taking a step back from ‘me’ to focus on giving my children the best possible start. This made wonder about how to actually go about giving them a great start.
I mean, it’s all very well and good to sit at my keyboard and tap out the words that life is on hold while I put my children first, but what am I doing to ensure that my words turn into actions? I thought about it. Then I thought about it some more. Then I wrote down my best ideas.
Here’s how you can ensure that your child is prepared for adult life.
Money money money
Whether your little one is looking more likely to become an artist, an Olympic rower, a banker, a graphic designer, or an astrophysicist searching the universe for answers to the big questions, the chances are that money will be useful in getting them started. An ISA from Wealthify is the answer. These tax free savings accounts offer great flexibility and anyone can pay in. Why not ask for a small contribution from birthday well-wishers each year, and watch the funds grow with your child. I was attracted to the idea of opening an ISA because the account will automatically mature into an adult account when your child turns 18. This eliminates the need to shop around for a replacement adult account and ensures the tax free savings continue. There’s no easier way to save for your child’s future.
Higher Education or Apprenticeship?
Not all children are suited to higher education. Not all children are suited to an apprenticeship, either. But in this day and age of uncertain jobs markets, there’s every reason to have the conversation with your child about the prospect of qualifications or on-the-job experience as a way of getting ahead. Of course, if your little one goes a separate way and becomes an entrepreneur millionaire before their twentieth birthday, encouraging them away from that dream is obviously a bad move. The chances of that happening are slim, however. So let’s assume they’re going to need to get by with a job like the rest of us. Speak to your children about these two paths so that they can prepare for the choices ahead of them…
Does your child have an ideal career in mind?
…having a good idea about whether higher education or an apprenticeship is more appealing to your child is a good first step. Next, chat about what your child actually wants to do in life. Nobody knows your child as well as you, so don’t leave the careers advice to the limited services that may or may not be available through school. Perhaps encourage your child to see a hobby as a future career? Whatever they choose, research the career path that could lead towards that goal, and speak about it regularly. By making these conversations common place, the barriers that stand between your child and their future career will soon begin to break down.