If you are 25 or older, you need to read this!

Written by
Written by

Deolu Akinyemi

If you are 30 years old and above and haven’t begun to budget for your parents monthly, you need to update your financial education. Yes! I’m coming out with swords and daggers today, and if this goes against your beliefs, change. Fathers may not have the courage to send this to you, but mothers will. Don’t I love mothers.

Again, but more clearly, if you are above 30 years of age and you are not paying your parents a monthly allowance, your financial education is faulty. The above statement is particularly important if you are of African descent, and there are a few cogent reasons why.

1. While most Americans and Europeans finish school with debt from their unpaid student loans, African parents slug it out to ensure their children graduate debt-free. If you schooled in Africa, in a public school like mine, you have your parents and your government to thank. If you went to a private school, you have your parents to thank, and if you schooled abroad, you probably owe your parents a lot more than you would ever be able to repay, so you probably owe your children too.

2. Children’s Education is a Legacy investment for African parents. African parents skimp on fashion, cheat the trends, and basically grab a buck from every aspect of life just to ensure their children go to school. Sometimes the fathers are not so committed, but the mothers will ensure that they either personally provide the balance or nag it out of their balling husbands. Parents actually do these without expecting anything in return; they do it for the pleasure of giving their offspring a leg up in life. Don’t you think it’s only deserving to show some honour?

3. Most African parents don’t have any social security, insurance for pension backup. While their mates abroad were focused on their 401ks, they were focused on you and your siblings. They are going to be stranded in the future unless they were smart enough to have a backup plan outside of you. Some do, most don’t.

Yes, I know this can make you feel pressured, but what is this life if we don’t have a little pressure here and there? After all, a diamond is carbon under pressure. The difference between charcoal and diamond is pressure, meaning, you are more valuable under pressure.

There is a way to manage your pressure, however; start small and increase your budget for your parents (and Guardians) as you can afford more. Some of these parents are also your only real source of spiritual support as they keep on praying for you. Also, don’t forget Mark 7:11 – it doesn’t make sense for you to be faithful in giving to God and neglecting your parents. Yes, many parents can do without this, but there is a blessing no amount of money can buy that you get from being faithful and consistent in doing this.

Your Financial and Business Intelligence Coach

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