Bangalore: Whether it’s social, educational or financial matters, Parents play the most important role in any children’s life. They are indeed the first teacher of their children. And being the first teacher, parents are meant to be free from any kind of flaws.

However, when it comes to finance related matters, even the parents commit mistakes. These mistakes are very common and can bring financial crisis to their lives and to their children’s lives too. Jody Robbins from MSN Money has listed these 10 common mistakes. Let’s have a look on them.

1. Financial Help towards Education

Children’s education is one of the primary concerns for every parent. Even the Government is equally concerned about children’s education in India and is offering several types of scholarships to the students. Under several acts of the Indian government, the parents can avail plenty of scholarships for their children; most of which consists of financial help.

But unfortunately, most of the Indian parents are seen, ignoring these scholarships which are wholeheartedly meant for the children’s education.

2. Time to Invest on a New Vehicle

Along with the arrival of a baby, the family of two gets to three and it’s the call for the parents to think about their ride. In case, they have a two-wheeler, they change it to a four-wheeler or if they already have a four-wheeler, they upgrade it. This brings the parents closer to a financial blow.

Most of the times, it is seen that the parents opt for the wrong choice while deciding the new ride for the family. This can give rise to a serious financial problem in the family.

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