In the traditional model children receive love and nourishment from their parents. This is usually broken up into more psychological love and caring from mum and more worldly assistance from dad. Traditionally dads went out to work to support the family materially and mum stayed home to nourish the kids close to her breast. Of course, modern society has turned all these things on their head in many instances. Women work more often, and kids derive some of their emotional sustenance from figures at childcare and schools. Mum and dad both work to pay off the house if they are fortunate enough to be gainfully employed and do not have serious substance abuse problems. Once kids have left the nest they are faced with record level high property prices and a real struggle to get into the market as a first home buyer. In this day and age they often turn to their parents for financial support in getting a loan or buying a house.

Single Mums Are Faced with An Unrealistic Load

Bank of mum & dad realities: Sometimes it’s only mum, as in the case of single parent families. Many women chose badly in their choice of life partner and had to turf out the bad rubbish early on. This, then, left them with the serious challenge of raising a family on their own. The consequences of this is the kid who leaves the nest and has only mum to call on for any financial help in getting a home loan. Single mums are faced with an unrealistic load from beginning to the never ending. These heroic figures have been lauded in the lives of leaders like Bill Shorten and Anthony Albanese. Economically life is tough for single parents whatever the gender.

Buying a House is Never Easy

Getting into the best position to buy a home is never easy, but some good advice can really help. You need as much practical knowledge from trusted sources as you can muster. In Australia the bar is being raised every day to make it much harder to enter the property market. The rich are getting richer, and the rest are getting shafted royally. Those with the material resources are using them to boost their own financial position and those without are being left behind. The Liberal National Party Federal Government is firmly in the camp of the ‘haves’. The crazy thing is that when you punish sections of society by neglecting their welfare you only create expensive problems down the track in terms of crime committed by the children of the poor and the health costs involved for parents and kids in poverty. We are talking billions of dollars every year. Economists at the World Bank have figures to show this clearly. Whereas if you invest in taking care of all of your citizens it is a win win situation for everyone. The economy is boosted by the participation of all Australians and not just the wealthy. Hopefully the global pandemic is teaching us a lesson or two in this regard.