I Asked ChatGPT the Biggest Money Mistakes Parents Make — and Why They’re So Costly

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You’re their first role model in money matters, which only compounds the pressure to get things right. But the decisions you make about your own finances can also have long-term consequences for your children, often in ways that are easy to miss.So what is a well-meaning parent to do? For starters, you can learn about the most common money mistakes parents make — and why they tend to be so costly over time. While a financial planner can help you build a strategy tailored to your family, tools like ChatGPT can offer a high-level explanation of mistakes you’ll want to avoid.When I asked ChatGPT to share the biggest money mistakes parents make and why they’re so costly, its response struck a surprisingly empathetic tone. It acknowledged that it’s hard to be a parent and that these mistakes are often driven by good intentions.“Parents often make money decisions under pressure, love, fear or guilt — so the mistakes are understandable,” it wrote. “But some are especially costly because they compound over years or shape children’s lifelong money habits.”For You: I Asked ChatGPT How the Average Person Can Make $100K From Home: Here’s What It SaidRead Next: How Middle-Class Earners Are Quietly Becoming Millionaires — and How You Can, TooThe AI noted that parents often prioritize their kids’ needs — such as college, activities and housing — while assuming they’ll “figure retirement out later.”ChatGPT was blunt about why this can be costly both financially and emotionally: “There are no loans for retirement.” Just as they can’t turn back the clock to their grown children’s precious baby years, parents can’t recover the time their investments and contributions to retirement accounts could have spent compounding.Parents who can’t support themselves in retirement often end up becoming a financial burden on their adult children.“Helping kids at the expense of retirement often hurts both generations,” the AI wrote.For parents who grew up with financial instability, giving their children an easier life can feel like an expression of love. But there’s a difference between providing your children with stability and spoiling them — while inadvertently preventing them from learning money management.“Kids don’t learn budgeting, trade-offs or delayed gratification,” ChatGPT said. “Adult children may struggle with debt, dependence or entitlement. 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