Parenting is a challenge for even the most careful, hard-working adults. The best way to begin the journey is to avoid typical mistakes. Of course, every mother and father will make errors along the way. That’s human nature. But it is possible to side-step several of the frequent pitfalls by learning about them in advance. After that, fulfilling the duties of parenthood becomes a bit easier. What are the potential pitfalls?
There are dozens of them, but most dads and moms soon discover a rather sobering fact. Children use adults as role models for behavior, attitudes, and habits, whether the grown-ups realize it or not. Not knowing that you are in the spotlight 24/7 can mean inadvertently passing on bad habits to youngsters. Other errors include cosigning on student loans without thinking ahead, ignoring obvious signs of alcohol and drug impairment in children and teens, giving sons and daughters too much unsupervised time online, and neglecting to get enough life insurance. Review the following details to learn more.
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Think Twice Before Cosigning on Student Loans
Students usually need cosigners to get approved for education loans. When their parents don’t sign, they find themselves with few options. Many parents wonder whether they are legally obligated to offer financial assistance to youngsters. There’s no law that compels moms and dads to cover the cost of college or anything else for children over the age of 18, nor even to cosign on their loan applications. Fortunately, youngsters can ask other adults to serve as cosigners, or they can apply for scholarships and work-study programs to offset the expense of getting a degree. If you append your signature to a child’s loan application, the lender can come to you for payment when the primary borrower defaults, is late with payments, or can’t be located.
Supervise Young Kids’ Social Media and Chat Activity
If your children are younger than 13, be diligent about overseeing their social interactions in chat rooms, discussion forums, and especially on social media sites. Predatory adults target pre-teen children via the internet, which means parental oversight is a must. Safety-based apps and automated controls only do so much. There’s no substitute for a real pair of eyes. Have periodic talks with kids about who they interact with on game platforms and elsewhere. Let them know that they should tell you if anyone tries to get them to meet in person for any reason.
Don’t Overlook Life Insurance
Keeping the family budget in good shape is a major task. When doing so, ignore the need for life insurance. How much do people need? The exact number depends on several factors and should be the subject of a discussion with a licensed agent. However, the main thing young adults have on their side is age. Coverage costs much less for 20-year-olds than for anyone else. Buyers should consider higher policy amounts if they intend to have families or just want to provide a substantial payout to loved ones. The only way to figure out what the right amount of life coverage is for you is to consult an expert who can provide an accurate figure.
Disclosure: This is a collaborative post.
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