Thursday, July 6, 2023

Joseph Cianciotto: Protect Your Kids from Poverty

 

Joseph Cianciotto: Build a Financial Base for Your Kids

indiatimes.com
Most parents' primary responsibilities are guiding their children and preparing them for life. To achieve this, Joseph Cianciotto explains that parents must examine the many factors that affect the future. One of the most significant and impactful of these factors is finances. 

Today, Joseph Cianciotto shares his insights on financial management and how you can build a financial foundation for your children.

The fact is that many adults today are struggling because their parents never really took the time to be aware of their financial situation. Not that Joseph Cianciotto is pointing fingers, and not that he's accusing parents of previous generations of being lazy or negligent. They couldn't have secured finances for many reasons, but according to most financial advisors, the lack of financial awareness was the culprit for many of these parents.

As parents, we always want what's best for our children, which sometimes means spending money. From clothes to extracurricular activities, the list of expenses can go on and on. However, as Joseph Cianciotto points out, this spending is acceptable and unavoidable. After all, there will be countless moments in our kids' lives when we must open our wallets for their education or entertainment. Still, it's crucial to ensure these expenses fall within our budget. As long as we keep that in mind, there's nothing wrong with showering our little ones with the care and attention they deserve.

Joseph Cianciotto gives birthday parties and other festivities as examples. Birthday parties are really for the people celebrating their birthdays. It's easy to make children excited and happy. An intimate party with the immediate family and grandparents, a trip to the nearest mini-golf or go-kart park, and a few gifts will more than make for an unforgettable birthday.

Knowing that more affordable options exist is just part of financial awareness. Joseph Cianciotto recommends that parents schedule an appointment with a financial consultant or advisor to learn more.

Can you think of ways to build a financial foundation for your children?

Joseph Cianciotto works as an executive creative director and lives in Long Island, NY, with his wife and two daughters. Read more posts on parenthood when you visit this page.