Giving Back To Your Parents in Shape of Financial Assistance

It is really a must giving and paying back reward by any child to his or her parents when a child is grown up and feels him or herself financially adult to assist his or her parents as well. One must not put oneself under burden of any debts to assist his or her parents to its full.

Financial Assistance to the Elderly Parents, a Moral Responsibility Indeed:

It is indeed a moral responsibility of every single male adult child to financially assist his elderly parents especially in case of his father’s retirement. Most of the time , in our Asian societies where the elderly persons don’t have any social security plans or cover by their respective Governments side , most of the parents naturally do require their male children to support them financially ,morally ,ethically and in all means. Most of the time, in Asian Societies, our parents do spend their all monthly salaries for the better lifestyle of their kids, especially they personally do take care at its full for the routine check- up and nourishment of their smaller kids first of all .And normally when their children reach at the age of 3 or 4, they strive their best to provide them with good and quality education to secure their future prospects in all means. In order to achieve the above mentioned tasks, most of the parents do remain savings less (empty pocketed) till the time they get retired of their services /jobs/businesses so far. 

Financial Savings are must even at a very Young Age

Our present topic is really very interesting and needs special attention of every single individual towards it. In our Asian Societies, normally the younger generation is not guided traditionally in an appropriate manner how to secure and ensure their respective careers properly. Most of us as parents and children both normally discuss to achieve certain financial status simply. But afterwards there is always a black hole we come across with. This very black hole mostly takes our younger adults to nowhere but leads them to a state of confusion only. To them, career means mostly to become a medical doctor or becoming chemical or mechanical engineer. In some areas of Pakistan, for young male adults, career only means to get settled in abroad. These are all normally our traditional tendencies in our third world countries most of the time. And this is really a very unfortunate situation as both parents and children are miss-guided or under guided in setting up their financial goals. Financial goals do require proper savings of money by the end of the day in all cases. If we are empty –pocketed even after attaining certain financial position, we are simply driving to some place reaching nowhere (no destination) so far. The proper planning of life is to secure our money and finances at a very early stage of our lives. A youngster of just early 20s should be in a habit of saving his finances. Our marriage expenses should be lowered down to its lowest as well. The real achievement in our professional and personal life is to get ourselves redeemed of social taboos like unjust expenditures on marriage ceremonies which always last with heavy financial losses only. These are some very important tips which can secure heavy financial losses in our early 20s. These kind of wise and bold steps can help our youngsters make their life a real success story indeed.

This would certainly make them able to save their finances to its full. And coming back to our topic, a youngster with a strong financial savings in his bank account would be in a stronger position to assist his parents at its full.

Financially and Economically Strong Young Boy, an Asset for His Parents

Once a young boy of just early 20s who has acquired his Master’s Degree by 22 years of age, ideally should have grabbed an opportunity to build his career line at earliest. He should not waste his money for social taboos like extra spending for marriage ceremony, buying some expensive automobile whereas an average automobile/vehicle may also accommodate an individual.

One should try to invest in buying some cheaper property/land to secure his family members (parents /spouse /kids). Once a boy at his early young age secures his land/property, vehicle and other necessary belongings, he really becomes a potential asset for his elderly parents as well. Because a financially weak youngster can never ever think of supporting his parents so far. As the weak financial background compels a youngster only to strive for his own financial betterment which leads him with no space for planning for his grown old parents who already are on the very mercy of their respective adult male children most of the time.

This is but a very natural point that a strong individual can only benefit his or her dependents so far. Otherwise a weak individual would always look upon others to help him or her uplift in his or her life/career.

Having Full Knowledge about one’s Parents Financial Sources

This is the responsibility of every single male child at least to have a full knowledge about his parent’s financial sources as it may not lead him to some miscalculations. Because, most of our problems and miss handlings in lives do occur due to the incomplete information or lack of knowledge. We cannot cure any disease till the time we do not have relative diagnosis of that very disease at our hands.  Most of the youngsters do think in illusion that their fathers are financially very sound and have got several means of financial incomes in their careers which is again most of the time just nothing more than a miss conception.  Most of the time, in our Asian societies, the generation gap factor is not properly addressed in most of the cases. Side by side, a proper communication and understanding is also lacking in most of the families among parents and their kids. 

That is why, it is strongly recommended for a young adult to kindly enhance his full knowledge about his or her parent’s financial sources so that he may easily can address their financial worries with all comfort. Otherwise he would not be in a better position to help or facilitate his or her parents financially as he or she has a less knowledge about their financial status in true means.

Buying Health Insurance Plans For Your Parents

A capable and competent, worthy son or daughter of some parents should always look for some reliable insurance companies firstly. Those reliable insurance companies normally do offer very smart plans as Health Insurance covers for your parents as well. In the weaker societies where the government does not cover its elderly /senior citizens at that sufficient level. The role of insurance companies become vital in all terms.

Not every single individual is capable of meeting medical expenses of his or her immediate family whenever it is required so. Thus, a wise citizen of modern world always contacts some reliable insurance company in order to fully meet the expected medical requirements of his or her grown old parents. These type of companies usually have a strong financial back up and are enlisted with top hospitals/clinics of the respective town/city. They provide top level qualitative medical treatments to all and sundry with no discrimination. No doubt, approaching such a medical /health insurance plan would ensure the medical care of your parents in upcoming future.

Raising the Morale of Your Parents

Not in every single case, the financial assistance is required for the parents by their children so far. But what our grown old parents require in their growing up times is to get encouragement and moral backing as well. Nobody can provide more encouragement than a child to its parents. They need morale boosting on every single step of their lives. But with the passage of time, the requirement for moral encouragement grows higher and higher. We all need to back our parents in raising their morale by all the time.

Because financial assistance would always be considered as materialistic assistance which may not ever be sufficient for any human being. A human being always requires moral backing to him or her to fight with life’s cruelties.  So, a child should try at his or her level best to encourage and pamper his or her elderly parents in keeping their energy level higher and higher by all the time.

Ensuring Your Parents Self Savings Mechanism

If an adult’s parents were or have been failed in developing some savings plans for themselves. In such cases, an adult child is expected to encourage his or her parents to develop savings habits even at old age times. As a human being always needs to have some bank balance to fight with his or her bad patch /circumstances. In this context, the clear guidance of Holy Quran came in reflecting and pointing out the very significance of financial savings: “ (oh the people) Eat (well ), Drink (well ) but do not exceed in spending your money ( means save your money )’”.

So, side by side with the financial assistance provided by an adult child to his or her parents. The gentleman should also encourage his or her parents to develop savings habits in their lives to cope up with pathetic days.

Encourage Your Parents to Make Right Choices

An Adult child should become a trusted, wise, competent, capable and matured adviser to his or her parents in all manners. In this regard, one should guide or advise his or her parents to make right choices for themselves. As if they are living in some bigger house, they should try to get some smaller house for themselves. Besides it, if they had borrowed some loans earlier in their lives, they must now have to plan to get rid of those loans to unburden their financial liabilities.