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Tapping into the “How” in Raising Money Smart Kids

In the Little Book of Talent Daniel Coyle talks about how most people’s problem with taping their talent or the talent of their children revolves around the word “how”.

The word “how” comes into play in just about everything we do in life. Daniel has collected 52 tips in the Little Book of Talent, which he put into three categories.

▪   Getting Started – ideas for igniting motivation and creating a blueprint for the skills you want to build.

▪   Improving Skills – methods and techniques for making the most progress in the least amount of time.

▪   Sustaining Progress – strategies for overcoming plateaus, keeping motivational fires lit, and building habits for long term.

I love this book, because it can apply to so many other areas of life, including money.

Below is the same idea of how you can practice the “How To” in terms of teaching your kids about money.

Getting Started

Children love learning in the early years. They love when you read to them, and they love being part of the storyline and they believe everything you teach them!

You can ignite your child’s curiosity with Money Mama and The Three Little Pigs. We have it available in digital format for your iPad and hard cover for those who love the physical book.

Money Mama gives your child the blueprint for building their financial future. She explains what to do with money and gives your child a plan of action they can follow into adulthood.

Many adults will not teach or talk to their children for fear of teaching the wrong thing hence waste the most valuable learning years of a child’s life. Money Mama takes years off the learning curve and sets your child on a successful path of understanding money.

Whether you have your money right or not, you can break the cycle and give your kids the head start you didn’t have.

Improving Skills in the Learning Years

We would never wait until our children are in school to teach them their ABC’s and 123’s. Why do we wait to teach our kids about money?

The 10/10/10/70 concept is a simple technique for teaching kids what to do with money for the rest of their lives in the least amount of time.

The more kids understand the 10/10/10/70 the more excited they get about all the options that money can offer.

Most importantly this builds strong money habits for the long term, and makes the 10/10/10/70 as natural as learning how to read and write.

Keeping the Motivation

Money is a natural motivator. Kids love money and love learning about it.

Stop thinking that it somehow makes you selfish if you focus on money. It doesn’t!

After years of practicing this with my own kids, I must say they are extremely savvy with money.

They enjoy saving just as much as spending, which is a gift in itself.

They have compassion for things they care about, give and donate without expecting something in return.

They know that money is earned and doesn’t fall from the sky or handed to them. They understand that if they want a lot then they will have to give a lot.

It’s a choice and they have full control over their destiny.

As my mentor Warren Buffett has said, give your kids enough to do something, but not enough to be comfortable.

That is a gift all parents can give.

Below is the latest Money & Me Activity

The 10/10/10/70 Activity

Spending 100% of what you have leads to being broke!

Figure out the real equation to wealth!

Click here to download the 10:10:10:70 activity sheet.

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