subject: 3 Important Lessons To Teach Your Kids About Money [print this page] 3 Important Lessons To Teach Your Kids About Money
The psychology of money is something that most people brush off as something unimportant but no matter which super rich or super successful person you listen to, there is one theme that stands out more than anything else. Money and wealth is an idea and the thoughts and beliefs we have about money is one of the determining factors in your level of financial success in life. What makes it particularly difficult is the fact that most of these ideas and beliefs are things that we are not even consciously aware of. Its ideas and beliefs that has become part of our consciousness and our view of the world.
So, where does these ideas come from? For the most part they come from your parents and from your upbringing. The way your parents feel about money and how they treated money will largely determine your beliefs and your ideas about money. This explains why most welfare recipients are 3 or 4th generation welfare recipients - children grow up believing that about money. Similarly, most millionaires are fourth or fifth generation millionaires.
So, what can you do to help your kids be smart about money and learn to think the right way when it comes to financial abundance? Here are 3 great tips.
1. Teach your kids to love work. If you as a parent hate your job and complain about it in front of your kids then it sends all the wrong signals. It teaches your kids that working and earning a living is a painful thing and to earn money you have to do something you hate. Instead, teach your kids that they can do anything they want in life and make a lot of money doing it.
2. You can afford it.
So many of us grew up with parents constantly telling us "we can't afford it" - a recipe for creating a poverty consciousness. Even if it may be true, never tell your kids that you cannot afford something. Instead, teach them that they can have anything they want. Find a different excuse - no matter what it is but make sure you always tell your kids that there is a way to afford anything they want.
3. Money is good.
Did you grow up hearing things like "money is the root of all evil"? Who wants to be evil? That's right, we;d rather be poor than be evil. This is just absurd to believe stuff like that. Money is good and where there is wealth and abundance there is prosperity. Poverty is what brings out the worse in people - not wealth. Teach your kids that and let them understand that by using money wisely, wealth can do a lot of good in almost any area of life.
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