Swapna Mirashi
Bringing up a child and managing finances are perhaps two of the most crucial and challenging activities in the life of a married couple. Bringing up a child in itself, is a financially challenging activity. As you think and plan about your child’s development for a bright future, you also need to think and plan about the future of your money. Whether we like it or not, in the today’s world, how you manage your money for current and future needs is arguably directly linked to a bright future for your children and yours. In this issue we explain all that a parent needs to know about parenting and personal finance through a simple story and an inforgraphic.


The story of 5 easy mantras for raising ‘Honey’ and ‘Money’ together

This is a story of a king named ‘Dad’ and his queen named ‘Mom’. They ruled the kingdom of Parenting. It was a land of happiness, fun, responsibilities and opportunities and everyone in this kingdom was called a Parent. Dad and Mom had a young prince (or princess) named ‘Honey’. Honey meant the world to them and promised him all their love and attention, for his development and glorious future. Honey was a talented young child. “He’ll grow up and be a highly successful king and the entire world would know and respect him”, told Guru Future-Rishi to the king. “But that’d require your best effort as a Parent. Besides your love and time, Honey would need the fruits of a magical tree. You’d get the seeds of this tree from a land faraway. The road to this land could be long and challenging but the journey can be enjoyable if you will”.
So Dad and Mom happily went to WORK, the faraway land and won lot of praise, satisfaction and the seeds of ‘MONEY’, the magical plant.
“Well Done! Now sow these seeds in your kingdom. They will grow up into plants and give fruits, which would take care of you and Honey’s development”, said Future-Rishi. The Parents were thrilled. “The fruits of this plant are very tasty”, Rishi continued, “but remember, the plant does not give lots of fruits and in some seasons it might not give any fruits at all. So you can’t eat all the fruits you have. You have to preserve them for future use. This can get increasingly difficult for you if Honey demands them often. Take care of Money, like you’d take care of Honey, raise them together and see how they grow up and become friends”
The guru gave Mom and Dad, 5 mantras for making the process of raising Honey and Money together, effective and fun. “Follow this panch-a-mantra for both Honey and Money. Give them love and time and you’d, without worries and problems, be free to rule Parenting”. The mantras are even now regarded as classic lessons in Parenting
1. Security
Assure Honey & Insure Money, of a safe and secure present and future.
When you say, “I am there to take care, you don’t worry at all”, Honey will hear “There’ll be hurdles in the way, some accidents, some failures as you walk along, with your values and morals intact. Put your best foot forward minus any apprehensions as I am there with you, your guardian, your friend and guru; all in one.” This ASSURANCE at every step would infuse confidence and enable risk-taking.
Spare Money of all the worries and pinches of the present and future. Give it INSURANCE, so that your Money plant doesn’t collapse during accidents or other contingencies, but it stays as confident and willing to take risks.
2. Fitness
Regular Exercise is a tool to keep Honey and Money fit and alert.
Balance the physical, mental and spiritual activities for Honey. Honey must have a fit body, a fit mind and a fit soul to rule the world, which he deserves to. REGULAR EXERCISE is the key to achieving this. While Honey gets into the fitness regime with yoga, sports, meditation and brain puzzles, get Money to exercise as well, regularly. Let Money run regularly to the bank and keep fit through REGULAR SAVINGS
3. Nutrition
A balanced diet will make Honey and Money healthy and wealthy.
You’ll have to use your time and attention to follow this mantra. Spend time to plan a BALANCED DIET routine for the entire family, a diet with necessary proteins, lipids, carbs, vitamins, minerals and energy in right proportions, that will boost Honey’s health, ensure proper growth of the body parts and provide energy to do all his activities. Spend time to do a health check-up from time to time. Moreover pay attention to Honey’s eating habits in and outside home to ensure that he does not have junk food far too often.
Have a balanced diet – a BALANCED PORTFOLIO for Money as well. Spend some time to include the necessary nutrients – the cash, debt, equity, assets, for financial health and growth, in right proportion. Do regular financial health check ups. Keep tab on unnecessary expenses and debts.
4. Education
Educate healthy Honey and wealthy Money to become wise.
Take Honey to SCHOOL, a place that can open the doors of opportunities for Honey, that can guide and groom Honey to develop his conscience, capabilities and understanding about self and the world, beyond his little palace and Mom and Dad and Money.
While Honey goes to school, let Money take lessons from the ADVISORS on income, growth, funds, inflation, Sensex, security, real estate and tax planning. This would expand the scope of your Money plant and assist the well-being of your Money.
5. Freedom
Give Honey and Money freedom to be themselves and explore ‘their’ skies.
Listen, your Highness! This might seem easy, but this is the trickiest mantra. While you shower your love and dedicate your time to Honey, it is extremely crucial to respect Honey as an entity. He might grow into a very different person than you. Through the upbringing you’d anyway ensure that Honey grows up with right values and principles that would never leave him. When you say “I’m there”, realize that you are saying “when and if you need, as a support” and not “as crutches”. Give him that FREEDOM – to choose his life, explore his skies with your love and support.
Free Honey of your EXPECTATIONS and ‘STRINGS’. And free Money of LOANS and CREDIT CARD DEBTS so that it can also explore its skies, free of obligations, confusion and pressures.
“Having cited the mantras, I’m sure you’d succeed in raising Honey as a marvelous human-being & an achiever like yourselves and Money as his best friend.” The guru concluded.
Today Mom and Dad are regarded as worthy and wealthy Parents. Honey has grown up into a healthy, able young man. He, now as a King of the world he chose, is respected and loved all over. Money has also grown up into a huge ASSET tree and is his best buddy. Mom and Dad generously share the fruits of Asset tree and the rajguru’s Panch-a-mantra in Parenting