According to the book, The Millionaire Next Door, seven out of ten American Millionaires are first generation. Unfortunately, this means that 70% of the time, the money mindset that made them rich never got passed down to continue the financial winning streak.
That’s why in this episode of the podcast I decided to discuss how people can communicate money matters to their children and teach them lessons that will increase the likelihood that they will continue on to financial freedom in adulthood.
In this episode you will learn:
- How to start the conversation with a child as young as 5
- Talking to pre-teens about money
- Getting your child to think like an entrepreneur
- Getting your child financially ready for life
Links & Resources
- Top 5 Money Lessons for Kids as Young as 5 Years Old (CNBC)
- How the Super Rich Teach Their Kids About Money
- 10 Money Lessons for Your Tween and Early Teenager
- Five Ways to Teach Your Kids to Think Like an Entrepreneur
- What is Mind Mapping?
- Mind Mapping Basics
- MindMup: Free Online Mind Mapping
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