CYP Now - Why a legacy of financial organisation is essential for our children with additional needs

If your child is to live the life they want (and you want them to have), they must have financial security. We need to organise their financial affairs to give them as much security as possible for when we are not around to support them.

Graham Caldow is an author who supports parents to enhance their children's life skills. Picture: Ambition PR

We developed a way to make a life plan for our daughter and our life plan can work for you too. We created the Red Giraffe Route Map by dividing the main aspects of her life into four categories which we liken to train lines: The Daily Living Line, The Relationship Line, The Purpose Line and The Financial Line.

Everyone needs money for their long-term security, but our young adults may rely more heavily on others to help plan and manage this security. For this reason, careful planning of the financial line is imperative.

Understanding legacy on the financial line can be confusing. Even if you don’t consider yourself well off, you can still leave a significant financial legacy because it’s not the money you leave them, but rather it’s their relationship to money and the organisation of their finances. Everyone has money come into their lives and we all make choices about how that money is used and spent. Your legacy to them should be instilling good money habits.

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