Here are the Best 10 Financial Lessons to Teach Your Kids...

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It still blows my mind that personal finance isn’t taught in schools.

If schools won’t teach your children about money, you need to take matters into your own hands.

Here are 10 lessons about money you need to teach your children:

(so they don’t learn the hard way)

𝟭) 𝗡𝗲𝘃𝗲𝗿 𝗳𝗶𝗴𝗵𝘁 𝗮𝗯𝗼𝘂𝘁 𝗺𝗼𝗻𝗲𝘆

Relationships > money.

Without people to connect with, money is meaningless.

A child who knows the value of relationships has the potential to create exponential income.

That’s priceless.

𝟮) 𝗖𝗼𝗺𝗽𝗼𝘂𝗻𝗱 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁

A child who understands compound interest will understand the value of patience and delayed gratification.

They’ll want to save money early knowing time is on their side.

This will put them decades ahead of their peers.

𝟯) 𝗦𝗮𝘃𝗶𝗻𝗴𝘀 𝘄𝗼𝗻’𝘁 𝗺𝗮𝗸𝗲 𝘆𝗼𝘂 𝘄𝗲𝗮𝗹𝘁𝗵𝘆

Savings are important but they won’t make you wealthy.

Your child must understand they need to invest if they want to fully take advantage of compound interest.

Show them the risks of ONLY saving.

𝟰) 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴

Compound interest works best when money is invested for long periods of time.

Once your child understands you CAN save too much…

They must understand what to do with extra savings.

The answer is investing.

𝟱) 𝗗𝗲𝗯𝘁

There’s good debt and there's bad debt.

Good debt is leveraging someone else’s money to purchase income-producing assets.

Bad debt is using someone else’s money to buy liabilities you don’t need.

Not all debt is bad, only poor usage of it is.

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𝟲) 𝗖𝗿𝗲𝗱𝗶𝘁 𝗰𝗮𝗿𝗱𝘀 𝗮𝗿𝗲𝗻’𝘁 𝗲𝘃𝗶𝗹

Teaching your children how to use credit cards the right way will:

• Help them avoid debt

• Let them travel for free

• Increase their credit score

They will also qualify for cheap debt which they can leverage when they’re older.

𝟳) 𝗘𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲𝘀 > 𝗧𝗵𝗶𝗻𝗴𝘀

Experiences bring more happiness than possessions.

When you make a purchase, the “high” will wear off after a couple days.

When you have great experiences, you create memories that last a lifetime.

Spend money on experiences, not things.

𝟴) 𝗦𝗮𝗹𝗲𝘀

You don’t need a job in sales to understand its importance.

You are always selling yourself to others.

• Resumes

• Interviews

• Relationships

Every interaction you have is a chance to “sell” who you are.

This will show your child appearance and behavior matter.

𝟵) 𝗕𝘂𝗶𝗹𝗱𝗶𝗻𝗴 𝗮𝗻 𝗔𝘂𝗱𝗶𝗲𝗻𝗰𝗲

In today's day and age having an influential audience opens doors to many places.

Having an audience allows people to gain feedback and experiment with marketing with no overhead costs.

Help them use this skill wisely.

𝟭𝟬) 𝗔𝗱𝗮𝗽𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆

You're not always going to win and not everyone will always like you.

And that's okay.

Adapting to changing situations and being open to new experiences as time passes will set you up for success.

The same can be said for your children.

There you have it!

10 money lessons to teach your children so they don't learn the hard way.

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