If you are like most people you have probably been raised and taught in school to get a good education and to go get a good high paying job.
I am not saying that there is anything wrong with this solution but it is important to realize that it is not the only way to live.
The problem for most of us and I believe it is one of the reasons that so many people are struggling is that it is the ONLY way we know how to make money. Our schools and our parents haven’t been able to teach us anything else… but I have a suggestion that you can use to help your kids (and yourself) from ending up in the same situation. At least they should have an alternative to getting JOB, right?
Budget and Money Making
When your kids are old enough let them budget the weekly grocery expenses. Tell them that they have e.g. $100 and that they will need to figure out how to get food on the table for all meals and still shop for things that the family would like to eat.
They might fail at first but failing is an important learning experience. As long as you encourage them and guide them, they will become good at it. Not being foolish with money and learning how to budget is an important first step to become financially educated (most adults STILL don’t know how to do this).
If you make this into a game your kids will quickly learn how to do this and you can give them the second “game” to play. Give them e.g. $10 and tell them that the game is to double that money. Instead of working for money they will learn to have money work for them.
It doesn’t matter how they double the money as long as they get their creative brain started thinking in these patterns. Once they have done this a few times they will become better and better and eventually they will see the benefits (and the point behind it) of having money work for them instead of working for money.
Do you think your life would have been different today if your parents had taught you these skills at an early age? – I know my life would have been very different!
And remember that by teaching others you are actually the one that will learn the most as teaching things yourself has been proven to be the most effective way to learn.
To Your Success,