Teach your kids the things about money you were never taught by your own parents. The 3 parenting money tips will change your children’s future, right away!
00:00 when we become a parent, take these steps
Most of us, when we are in our 20s and 30s, we will have our family, and with that does not only come with the responsibility of raising your child, but also with the responsibility on teaching them on how to utilise money. When you think about your own past, how much did your parents teach you on money?
00:49 parenting tip #1: money is a tool
The first tip you should take along is that money is a tool. Let kids play with money, and let them understand what the value of money is, but don’t let them hang out to it too much. Money is something we need to exchange and pay for certain things. But it doesn’t have to be a precious item, because. It isn’t. The better you know how to use money, the better you become in earning in and spending it, and letter money work for you. Money is like a tool… And that is really true.
04:18 parenting tip #2: having more money doesn’t make you better
There are so many people out there, who might have a lot of money, or who seem very rich, and yet.. Does it not make them a better person than you. If you want to compare yourself, compare the current self to your future self, what difference is there going to be. To do that, I teach my kids a game of money. I give my kids allowance, 2 euros per month. And the moment they get the money, I give them 3 choices.
Choice 1: save the money
Choice 2: invest the money
Choice 3: spend the money
And with this game (for all details, watch the video or read my book) my kids learn how to play with money and start learning the value of it.
09:54 parenting tip #3: let your kid dream (financially) big
Money has no ceiling, there is no limit to money. Like jeff bezos, mark zuckerberg, bill gates, but even past figures like john d. Rockefeller. They were never hold back by the amounts of money you could earn. And that’s what they did, they continued to make money and no limit ever stopped them from making a ton of money. So there is only encouragement from you as a parent to support your child.
13:44 your task as a parent
In the end, you are the first person your child will learn from, be aware that it is your responsibility to teach them how to work with money and how to work it well. Teach them to make passive income, teach them to enjoy life without any money worries!