Opinion
Even in very wealthy households, value-setting can produce grateful and hard-working children.
Dear Ms Wise, how can we help out our kids without spoiling them? With HECS indexation up to 7 per cent, Id argue its well worth paying down this debt for them. But wife disagrees and says they need to find their own way financially. Rob
The wisdom: Financial planner Marisa Broome agrees its worth helping out when HECS [which is now called HELP] indexation is this high [rising inflation has pushed debts 7.1 per cent higher] but says a way of getting your kids to understand its not a handout is to treat it as a loan perhaps from any inheritance.
A sense of fairness is paramount not all your kids wil…
Read the full article at: https://www.afr.com/wealth/personal-finance/are-we-spoiling-the-kids-by-paying-off-their-help-debt-20230912-p5e3yw