10 secrets about money parents should teach their children

The impact of successful parenting

  • How to stay healthy
  • How to make money
  • How to succeed in life
  • How to treat each other
  • And so on

Most of us learn how to handle money at home — from interactions with our parents and siblings.

When my daughter Dayana arrived in the UK, she was barely 13 years old. I gave her six months to improve her English and get used to the new place. Not long after, she began showing interest in my business. She found the entire thing fascinating and wanted to learn more. Naturally, I was happy to oblige. Of course, I took my time in showing her the ropes. After all, there is only so much business information you can pour into a teenager without overwhelming, or risking to bore them. As the years passed, however, she didn’t show any signs of getting bored. Quite the contrary — she was actually more and more engaged in the whole adventure! And, since I could really use a hand with my marketing campaigns, it was a great and useful experience for both of us.

Back then, a friend of mine suggested that I start rewarding her for her efforts, and I took his advice. I was giving her a sizable portion of additional “pocket” money that she could spend on whatever she liked. I believe that this can be extremely beneficial in teaching young children responsibility both in terms of work and handling money. She’d help me during the weekend, she’d learn about marketing, creating websites and SEO alongside me, and she’d get additional funds to buy stuff.

Getting your children involved in things that you do is a great way to not only strengthen your bond but also convey valuable life lessons. With younger kids, something simple, like making them an active participant in taking care of the house is more than enough. As they grow older, however, you can do a whole lot more than that.

Here’s a list of 10 things that you should teach your children to help them succeed in life:

Teach your children patience

Don’t encourage behaviour based on instant gratification. Encourage them to set small goals and work towards them. Celebrate their successes together. Show them the value of dedication, and they’ll be happier for it.

Teach your children how to be productive

Teach your children the importance of money

Teach your children to manage money

That you should “just let the kids have their childhood” free and unrestrained by adult worries. Sadly, this type of successful parenting usually leads to disaster. Any responsible parent (even those guilty of the above mentality), will naturally want to do everything in their power to prepare their offspring for what awaits them further down the line. By disconnecting your child from the process, you’re not doing it a favour. As a matter of fact, you’re doing it a disservice — you’re essentially forcing them to learn things the hard way on their own.

Teach your children how to earn money

These practical demonstrations serve to teach the children that you can make money in a myriad of ways and that you aren’t limited to working for someone else. More often than not, these children will then go on and create businesses of their own, using what they’ve learned.

Teach your children the difference between assets and liabilities

Teach your children that nobody owes them anything

It doesn’t fall out of the sky, and it doesn’t come to you just because of who your parents are. And while children coming from a successful background will generally have a much easier time getting through the early stages of their lives, they will eventually need to develop themselves as well. Unless they’d rather lose their fortune, that is.

Teach your children social skills

A vast number of people today perform most of their “social” interactions online, and this takes a significant toll on their ability to hold a conversation face-to-face. Don’t let your children fall into this trap and encourage them to lead a balanced and healthy social life.

Teach your children to always aim higher

Then, as you build up your experience and gain confidence, you will start taking longer strides or even leaps forward. Eventually, you will feel as if your progress has slowed to a crawl. This is natural. It’s nothing to be afraid of or get discouraged by. Teach your children this simple truth and make sure that they don’t give up when faced with the inevitability of it.

Teach your children that helping others is the best way of making money

Everyone has problems and pain points. By focusing on dealing with them, you’re paving your road to success. And by teaching your child about the logic behind is, you’re essentially helping it set the foundation for its future success in life.

And what about you? Did your parents ever share such ideas with you? Were you taught anything about building wealth, or did you have to learn it all by yourself? Are you doing it for your kids, or do you believe that first-hand experience is the best teacher? Leave me your thoughts, opinions and experiences in the comments below — I always love hearing from you!

Thank you all for reading and I’ll see you next time!

Stay green and motivated!

© Lifestyle Tips by Antoaneta

RESOURCES:

Entrepreneur and eco-friendly enthusiast. I’m on a green mission to clean up the way we live. Share the passion — follow my journey now! http://bit.ly/2FloQoQ

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