Kids Fly Economy, Parents Luxe: The New Parenting?

Wealthy parents are increasingly adopting a 'tough-love' parenting strategy, where children are denied luxuries they could easily afford. This includes flying economy while parents use business class, or using basic phones while parents have the latest models. The intention is to teach children the value of money and prevent comfort from being perceived as an entitlement.

Celebrities like Farah Khan and Archana Puran Singh, along with many non-celebrities, are implementing these rules. Mumbai casting director Shruti Mahajan, recalling her own upbringing, aims to ensure her daughter understands that privileges must be earned through hard work and study.

However, experts like Shristhi Gupta and Dr. Upasana Chaddha Vij express concerns. They note that children might view these restrictions as unfair or punitive, especially if not explained properly. Gupta suggests that involving children in budget decisions, allowing them to save for desired items, and earning pocket money through tasks could be more effective.

Psychologist Dr. Vij emphasizes that the explanation behind such decisions is crucial. A punitive approach can be shaming, while framing it as a lesson in restraint and gratitude can be more beneficial. She also advises against making withheld luxuries seem more alluring through constant denial. Experts suggest that teaching financial discipline can also involve allowing children to make choices within a budget and save for more expensive items.

Alternative methods for teaching financial discipline include giving children a budget, allowing them to save for larger purchases, and earning extra pocket money for commendable tasks, not basic chores. Experts recommend encouraging children to articulate their desires and find sustainable ways to achieve them, fostering persuasion skills.

Some parents, like Jesse Pujji, are implementing systems where privileges and allowances are linked to homework and chores, with savings and giving components. Others, like Mayank Arya, have found that flying with children in economy, despite being able to afford premium cabins, fosters better family connection and avoids dulling children's ambition to earn such comforts themselves.