Here Are The Best 10 Financial Lessons To Teach Your Kids

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.

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.