Your first obligation is to your loved ones

Tuesday, July 7, 2009, 5:53 AM | Leave Comment

In ethics as in financial planning, we must satisfy our needs first than our wants. We are in the shittiest of deepest recession we have ever been in. [This is the consensus of the economists and financial gurus]. No matter how painful a decision you make, it must be for the overall benefit of your family especially your kids. But what happens when you have to decide which needs to fund and which not to fund?

  • Family comes first
    As concerned as you may be about your house-cleaner or your favorite charity, your first obligation is to the loved ones who depend on you.
  • Opportunity is priceless
    Sell your jewelry, sell your car – whatever you need to do to be able to invest in your child’s future.

In a Nutshell
Decide what is best for your family. Talk to other families, your relatives and some experts in personal finances and then make a plan and more importantly stick with it.

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