Many families today are entangled in relentless disputes that continue to create animosity amongst the members. With economic issues taking tall due to global economic situations, many parents find it hard to cope with the financial aspects of family life. It is critical to highlight that many families are concerned with how to live a satisfactory life despite the numerous economic challenges (Lauderdale & Huston, 2012). Given many households, finance has become their primary concern. While people continue to add children to their families, financial challenges have meant settling for the low lifestyle to help preserve some cash for sustaining the families. It is critical for every family head to provide and care for children. However, dependency ratio has also grown making it difficult for breadwinners to sustain the growing need to provide for other members of the family who has been rendered dependent either through misfortunes on their bread winners.
Therefore, it requires that this new breadwinner must work extra hard to be able to meet the family needs. And cater for needs of the dependents too. The financial challenges have been aggravated by unemployment rates that have increased over the recent past thus making it difficult to be cater for even the necessities. Finance is also a major concern for families due to the growing cost of living and escalating commodity prices (Lauderdale & Huston, 2012). The food prices have escalated thus making it hard for families to put the food on the table. Today, necessities have also increased as many aspire to better education for their kids. It requires that a lot of money has to be paid as fees. It might require that particular needs have to be forgone to enable satisfaction of others that are most fundamental in their order of preference.
References
Lauderdale, M., & Huston, S. J. (2012). Financial Therapy and Planning for Families with Special Needs Children. Journal of Financial Therapy, 3(1)
