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Financial freedom starts in childhood
If my parents didn’t teach me about money, would I be where I am today?
I’m unsure.
My whole financial trajectory easily could have been delayed or negatively impacted.
Start with your kids early. Not only are you investing in their lives, but your life. Financially independent kids are less financially dependent on their parents for money, housing, food, and transportation.
Where Kids Typically Learn About Money
Kids aren’t learning about personal finance in school, with their friends, or in the media. Most of the time, kids learn about finance by watching others or through the school of hard knocks, which often happens in college when credit card companies bombard kids with credit card offers.
Most kids are graduating not only with credit card debt but with student loans. Jobs aren’t a guarantee after you graduate, so what happens? You’re faced with debt and little to no income, and you must learn how to navigate that.
15 Things My Parents Taught Me About Money
Here are some of the things my parents offered as financial lessons early on in life:
My Parents
Gave me an allowance for services rendered, creating a drive to work and maintain my financial independence.
Taught me to start my own business at the age of 10 and 14.
Introduced me to ROTH IRAs and set me up with one at 14.
Paid me money to read books on personal development and finance.
Employed me in all of their businesses, which exposed me to earning upwards of $400/hour.
Kept introducing me to millionaires and billionaires, which exposed me to new knowledge.
Read financial books with my siblings and I at the dinner table each night.
Gave me a piggy bank with three sections: giving, spending, and saving.
Preached the importance of having a budget.
Exposed me to Dave Ramsey’s seven baby steps.
Introduced me to Robert T. Kiyosaki’s books, which highlight investing, real estate, and living with a business/entrepreneur mentality.
I didn’t learn about personal finance in school. Not once. I learned about personal finance outside of traditional academic settings and had to invest my time into learning the subject in detail, which I still am doing today.
Learning about personal finance never ends. There is always more to educate yourself about to take your finances to an elevated level.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.