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How Can I Prepare for the Future?

As a parent, you may often wonder what the future might look like. While your child is currently small, and your responsibility, there may come a day when they want to become more independent. This may mean that, eventually, they leave the family home altogether. Rather than trying to pretend that this day will never come, you may want to think about the ways that you can prepare for the future. This can include making it more feasible, helping them to grow as people, and even preparing yourself for the fact that, one day, you might have an empty nest.

For your child to move out of the home, they may need a bit of financial backing. While they could rent with their friends, you may want to teach them about the expenses required for renting versus homeownership. It could also be a good idea to educate them on living costs, including how difficult it might be to save for a deposit while attempting to pay rent. 

Alongside this teaching, it could be useful for you to start your own Wealthify savings account to give them a bit of a boost in reaching that goal. While you may not want to give them everything they want and need, to teach independence, a little helping hand could make a big difference, meaning they might not need to struggle as much while attempting to find their own feet within the world.

You may find it helpful to give your child little bits of independence as they grow up. This can include age-appropriate chores that teach your children about some of the tasks they may need to do for themselves on a daily basis when you no longer live together. Not only could this help to take some of the weight off of you, but it may also help them to appreciate some of the things you do. Giving your child more trust and, when they approach their teenage years, allowing them to go out before curfew without an adult, might also help them to figure out the world while still sticking within your limitations. These limits may become fewer as your child gets closer to being an adult.

Even if your child leaving home is years away, you may still feel a sense of separation anxiety at the thought of not seeing them on a daily basis. You might want to spend the years coming up to this time building on your relationship with one another, so that you still spend time, in-person or on the phone when they live elsewhere. This could also help them to learn that, should they ever need to come back for whatever reason, the doors of their family home will always be open to them.

Preparing for the future could help it to be less of a shock when the time comes. In addition to this, good preparation could also equip your child with the skills and money they need to be able to live independently without hassle.



Jeff Campbell