Yes, some benefits of having a wealthy family are obvious. But what many people don’t understand are the deeper and more subtle consequences of poverty. Being poor not only can affect your children’s physical capability to learn, but also their future measured intelligence.
The Theory of Family Investment
The theory of family investment covers the entirety of a families’ socioeconomic status. Throwing money at a situation as serious and intricately woven as the one we are discussing isn’t as helpful as you may think. That’s why it’s the effects of wealth on learning and not the effects of money. Wealth takes time, and usually generations. The family investment theory is based on the idea that there are three critical factors or currencies/capital that affect a child’s learning. Financial currency, Human currency, and Social currency.
Financial Currency
Financial currency or capital covers the money aspect. Everything that has to do with monetary investments and what they can purchase that would result in greater or lower educational benefits for the children in a family.
This can be as obvious as being able to pay for tutoring or as subtle as being able to purchase a home in a neighborhood that has better quality air and water. The effects listed below are based on countless studies done on the matter and are not meant to induce shame or panic. Only to inform.
Parents from a lower socioeconomic status have fewer funds to invest in their child’s education. Oftentimes, computers, tutors, supplies, books, and other necessary learning tools are inaccessible or access is limited. This becomes even more important as the child gets into the later grades where technological advances are needed to properly fulfill learning requirements.
College prep courses, practice SAT’s, college application fees, and even school activity fees and club dues are just a few of the necessary funds that are often overlooked and underfunded in a low-wealth family home.
The birth mother has a high probability of having poor health care or limited access to health care, which often results in the child having a low birth weight. Low birth weight children are at high risk for having cognitive disorders.
Additionally, birth mothers from non wealthy backgrounds are more likely to drink during pregnancy and introduce fetal alcohol syndrome. This also results in a wide range of cognitive deficiencies in an infant.
The birth mother also has a higher risk of suffering from poor nutrition and once born, her children have overall poorer health which has a long-term impact on the child’s education
The children themselves usually suffer from poor or inadequate nutrition and poor access to health care which puts them at risk to developing more serious health issues and suffering from chronic illnesses. This equates to more time spent missing school, which directly impacts their learning.
Because of their financial status, the parents of these children are unlikely to find housing in more affluent areas and have a higher chance of living in areas that expose their children to lead. Even trace amounts of lead in a child’s blood has serious effects on cognition.
Additionally, because of their financial situation and the neighborhood they live in, the children are more likely to go to schools that offer substandard education. Indeed, even the teachers in these types of schools have been shown to under-deliver when it comes to math and reading. According to studies, children in poorer schools are more likely to be paired with teachers that only teach basic computations in math and withhold advanced techniques(whether intentionally or accidentally).
Children who live in smaller homes or overcrowded environments are more likely to share a room. Interestingly enough, studies also show that sharing a room, whether because of the stress or noise, has a correlation with poorer cognition.
Even before starting regular school, poorer children are more likely to have daycare providers that offer substandard care, are harsh and less sensitive to the children’s needs. These types of daycare providers are associated with poorer math and reading scores in elementary school.
Human Currency
Human currency is defined as the investment that parents make into their children’s education and future by sacrificing their own time. It also includes the type of human interaction a child receives. It’s inclusion in a wealth based study is necessary because of the educational benefits afforded to children whose parents are better able to afford better quality and quantity of time spent.
Studies show that wealthier parents speak more often to their children (starting in infancy), with a larger vocabulary, while poorer parents often speak less, usually giving orders, with a limited vocabulary.
The mother’s speech is tightly tied to the growth of a toddler’s vocabulary. There is evidence that the difference in parenting may be tied to the parental knowledge of child development. Parents who know and understand how children learn are more likely to speak to their children in complex ways and solicit ideas and opinions from their children.
In homes that are overcrowded, parents are less likely to hold conversations with children, giving orders instead
Children in poorer homes are also read to less often by their parents, watch more television and play with fewer educational toys.
And although income is a weak predictor of how much time a parent spends with their child, wealthier parents do spend more time with their children. This may be tied to the amount of time poorer parents have to spend working.
It is known however, that better-educated parents do tend to spend more time with their children.
Social Currency
Social currency cannot be overlooked as wealthier parents have (statistially) better connections that afford their children better access to education as well as environments that are more conducive to learning and to children making social connections that increase or maintain their educational growth.
Poorer parents are also involved less with their children’s schools. It is unclear whether this is due to a lack of trust that parents have in teachers and administrators.
Children from poorer families tend to become friends with other children who have low school performance and interest.
Wealthier parents are more likely to have connections (family, friends, acquaintances, and coworkers) that can create educational opportunities for their children or speak on their behalf.
The Theory of Stress
The introduction of stress into the lives of children has been proven to have less than optimal consequences. Consequences that negatively impact brain development are manifested in cognitive impairments.
Poorer families suffer more stress, that’s just a fact. Poorer families go hungry more often, worry about having enough food, worry about employment and financial problems more often. Live in neighborhoods with higher crime rates and health worries.
Parents living under a mountain of stress are more likely to be harsher with their children and inconsistent with their parenting.
Parents suffering from depression and stress have been tied to children with behavioral issues and emotional control difficulties.
Even pregnant mothers under high stress are more likely to have children who will develop slowly and show impaired mental development.
There are abnormalities in the white matter tracts of the brains in young adults who experienced verbal abuse as children. All of which proves that stress physically changes the brain anatomy
Conclusion
This isn’t about whether rich parents love their children more. That’s ridiculous! This is about how poverty influences more than just the clothes on your child’s back. How parenting involves more than just getting by.
You may be saying to yourself that your child is a straight A student and you’ve struggled your whole life. But ask yourself this. Knowing what you’ve read and thinking about your situation. In a better financial situation, would your child have become the next Stephen Hawkings instead of just regular genius level? Can we afford to keep creating stagnant generations of children who will struggle like their parents did?
The potential for these young minds is boundless, but it takes forethought and planning to do it right. Being wealthy for your children isn’t about spoiling them. It isn’t about giving them the nicest clothes, or even about sending them to the most expensive private schools. It’s about creating a world for them where they can reach their highest potential. So please remember that how you prepare yourself financially in life will directly impact not only your children’s education, but also what type of parents they will inevitably become. Start now! Build wealth!
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