By Zankhana Shah

IT'S amazing how kids are brought up today. Fed on a diet of Mac Donalds, exposed to 24 hour TV, armed with the latest gizmo’s and traveling with their personal car and driver! All because their parents are either too busy or too rich to think of any other way of raising their children.

Is it any wonder that these kids are geared for failure because they have no understanding of the concept of money and immature money related behavior. This lack of understanding plays a very important role on how they interpret life experiences and how they link life and money. This can have a profound impact on their quality of life.

New age parenting
All our new-age problems come with new age solutions. In this case, with both parents working today it may make sense to establish a sounding board during the impressionable years for your child.

The youth need direction, self-clarity and an objective analysis of themselves. And, finally they need confidence to go on the road they choose, whether a career decision, work-related issues or financial decisions. A sounding board is the perfect device to give them this confidence.

So what is a sounding board?
A sounding boards is a group of people with whom your child can meet regularly to monitor their commitments and progress towards goals in various areas of life -- personal, physical, career and finance.

How can this help:
a. A sounding board can encourage them to communicate around money in healthy ways. It will help them identify their dominant talents which they can replicate effortlessly.

b. It will help find their true passion and values and articulate their life goals by combining their passion, talents and values.

c. The sounding board can help them define the best use of money based on their personality and life goals.

d. A sounding board is also a fun forum to share successes. It provides a support network for challenging moments that the young experience.

But like all good things, a sounding boards need to have a pre defined paradigm and set rules for it to be successful. The work of your sounding board should include:

1. Identifying your goals -- the ones you want to share.

2. Sharing commitments you are prepared to make.

3. Identifying potential blockages that could sabotage your success.

4. Setting times for meeting and sharing progress.

5. Sharing things that are important to each board member so that everything gets done.

Eventually remember, that there are no right and wrong ways to rear children. Everyone has their own methods and kids somehow turn out alright no matter which route you take. But staying away from 24 hour TV and McDonalds is always a good idea!

Photograph: Kapildeo Singh

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e-mail: Zankhana Shah

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