The pain of saying “no” to your children: Debt and everyday life

As a parent, we only want the best for our children, to make them feel happy, safe and loved.

Unfortunately, when your household is burdened by unaffordable debt, it can feel like you constantly have to explain why you can’t afford what your children want. It breaks our hearts to say “no” to our kids over and over again.  Debt is a massive financial strain; it can weigh heavily on your emotions as well as have devastating effects on your family life.  

In this blog article, we will discuss how debt affects the everyday parent, and how debt review can offer a legal solution to get your family’s finances back on track.  

A life of “No”

Debt can force parents to constantly juggle household priorities, making difficult choices between paying a debit order, or putting food on the table. In some cases, a lot of parents can’t afford to buy their child food, let alone a new school bag, or even just a pair of shoes. 

In South Africa, where household debt is alarmingly high, many parents struggle to cover the most basic needs of their family. Between rent, or homeloans, car payments, fuel, electricity, groceries, clothing, school fees and uniforms, it is really a battle to stay afloat. 

When you can’t provide for what your children need or even want, any parent will feel like a failure. This emotional turmoil impacts your self-esteem as a parent, as well as your relationship with your children. 

The emotional impact on children

While children often understand when you explain why certain things aren’t possible, hearing “no” constantly can also be difficult for them. A child who feels they have less than others may start asking questions like, “Why can’t we ever afford anything?” These questions can make any parent feel overwhelmed by the situation.

There’s also the risk that children might take on financial responsibility for the household. They may try to ask for less or even offer to give up their needs to help you. While this shows empathy and love, it can force them to grow up too soon, potentially neglecting their own emotional needs.

How debt affects parents

Overwhelming debt can severely impact every part of your life. Adding unwanted stress, strained relationships and even depression. When parents constantly worry about the next payment and where the money is going to come from, this pressure leaves little emotional energy for their children. It truly is a heavy burden. 

Saying “no” all the time can make you feel like you are really letting your children down, even when you are doing your absolute best, to keep the family afloat.  You want to give them everything their hearts desire, but how can you if you can barely pay all your mounting bills?

Debt Review is a real solution for parents struggling with debt

Debt Review offers a legal solution to help parents effectively manage their financial responsibilities while protecting what matters most, their household. Debt Review consolidates all your debt into one reduced monthly payment. This provides immediate financial relief for your family. 

One of the greatest benefits of debt review is the protection you receive from any legal action by your creditors. 

As a parent, this is a huge relief to know that you are no longer harassed by debt collectors, phone calls, and the most stressful, threats of lawsuits. 

A registered Debt Counsellor works closely with you, to create a sustainable and affordable repayment plan that suits your budget.  This helps you pay off your debt over a period of time without ever compromising your family’s daily needs. 

At Debt Rescue, we really understand the unique everyday challenges that parents face. We believe with our services you will have a DEBT-FREE FUTURE for you and your family. 

Tips for managing the word “No”

While your financial situation improves, here are a few tips to reduce the impact of saying “no” to your child. 

• Honesty is always the best policy: Children understand way more than we give them credit for. Explain your financial situation to them, in an age-appropriate way. 
• Spend time with them: Children hardly remember the toys they didn’t get, but they will always remember and cherish the time you spend together as a family. 
• Teach them the value of money: Use this time to teach your children basic but important financial skills, like saving and for them to really understand the value of money.

Your New Future

We really do understand how unbelievably difficult life can be, and at Debt Rescue our main goal is to secure your family’s future. 

It is never too late to make a change, to take the leap, to take charge of your finances. With our support and guidance, you will get your family back on track. 

Find out how we can help your family.