Episode Description:

Welcome to another episode of The Disruptors Podcast! Today, Rob explains three fairly simple concepts that can make a big difference in ensuring your kids grow up to be self-sufficient and money-savvy. And while the tips are simple, the things they require can be tough, like not simply giving them an inheritance, or having to let someone else inspire their entrepreneurial spirit. But in the long run, it’s more than worth it! 

Key Takeaways:

1. Don’t just give your kids money in the form of an inheritance or other lump sums, as this is not going to be useful in helping them learn how to master money responsibly, and could even lead them to a poor financial situation.

Instead, use the money as an opportunity to get them involved in business and enterprise early. Offer them the money with conditions or restrictions that will teach them about managing money properly.

1. Paying your kids pocket money for household chores they should be doing anyway is basically the same as handing out gifts, and it doesn’t teach them anything. Teach your kids the value of real work by paying them for jobs like gardening or car washing.

Take it a step further by offering to pay your kids to read a fiction or nonfiction book with good life-lessons and examples of success in it and then write you a book report on it. Your kids will be regularly reading and learning useful lessons from the books as well as instilling them with the knowledge that it pays to learn.

 

1. Obviously, every parent wants to be able to inspire their kids to seek success and start practicing good life skills as soon as possible. The problem is that your child is very likely to resist these lessons if they come from you. After all, you’re their parent and you tell them what to do all the time.

As a sneaky way to get around this, find a successful family member or friend to act as a godparent or mentor for your kid. This gives them someone to look up to and be inspired by so that they can reach the idea of striving for success on their own, which can take some of the pressure off of you!

Best Moments:

“Money without the knowledge, the experience, and the responsibility of knowing how to manage and master it can be a curse as well as a gift.” 

“You pay your kids to learn and to learn how to get paid.” 

“If you take yourself out of the equation, you take the resistance out of the equation.”

[Business, mindset, entrepreneur, disruptors]

VALUABLE RESOURCES

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ABOUT THE HOST

Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “Disruptors”

“If you don't risk anything, you risk everything”

CONTACT METHOD

Rob’s official website: https://robmoore.com/

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LinkedIn: https://uk.linkedin.com/in/robmoore1979

disruptive, disruptors, entreprenuer, business, social media, marketing, money, growth, scale, scale up, risk, property: http://www.robmoore.com