As a single parent, finding a financial threshold that is secure enough to support a family can be a daunting task. Having only one parent as the main custodian of a child takes twice the amount of love, time, and money in order to provide the comforts and support of two parental figures. Fathers who are alone and supporting one or more children find fewer supportive resources that are geared towards themselves, unlike single mothers who are often targeted for such support. This can make the challenges of raising a family on their own difficult for fathers, but it is only one more obstacle to overcome. Government grants are available for single fathers, just as they are for single mothers, and fathers only need to find out where they should look for them. While most grants do not have to be repaid, the grantor will require personal information and documentation as proof. Often the process is lengthy and may even feel intrusive, but do not become discouraged and remember that the main reason the grant is requested is to take care of the child in the home.
Estate Planning for Dads
Insuring your children are provided for after your death is the right thing to do. This isn’t anything you don’t already know, or you wouldn’t be reading this article. Planning the manner in which your children are provided for is another matter, and takes some decision making on your part.
How to Teach Kids About Money Management
Money can be one of the most difficult subjects to cover with your kids, but it’s one of the most important. Many dads find it tough to talk to their kids about money because they don’t have it all figured out yet. Even if you’re not perfect, you still have a responsibility to teach your kids how to manage their money. But how do you accomplish this? How do you get kids to understand ideas like saving, investing, and making frugal decisions? There are many different techniques that may work, and much of it depends upon your child and what tactics they respond to.
Helping Teens Make Wise Money Decisions
It’s probably a good thing that we were all teenagers once, because it helps us to remember just what it was like being that age. Doesn’t it all seem rather silly now? Our biggest financial concerns may have been whether to spend our hard earned money on fixing up our beater car (if we were lucky enough to have one) or taking our girlfriend to the movies. And it sure wasn’t dad who was going to make the decision for us!
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