3 Ways To Teach Your Kids About MONEY - How To Build Sustainable WEALTH!

All the different things. When it comes to money, you need to know what your values are and then find a way to instill those values in your children. With all the opportunities that exist today, why haven't you reached your next level of income, life and wealth? In most cases, we've been lied to. We've been told that if you find the right opportunity and you work hard, you can be successful. And that's simply not true. Millionaires, billionaires, and successful people have realized you need the foundation for wealth, the habits. And that's the exactly what you'll be learning on the Millionaire Success Habits podcast. All success starts here. So I get this question all the time. People ask me, how do you teach your kids about money, especially if they don't grow up in poverty or they don't grow up needing anything? So I want to give you three ways to talk to your kids about money. Now, if you don't have any kids or you're not going to have any kids for a while, or your kids are all grown up, then maybe this is a good way to talk about it to yourselves or to your employees or to your spouse or to the people that you surround yourself with. See, here's what I believe. I'm going to go upstream again, like, you know, I always do. First off, welcome to the Millionaire Success Habits podcast. This is the podcast where we go upstream to anchor in the foundation for wealth, abundance, happiness, joy, magic money machines are temporary. You want sustainable wealth, sustainable happiness, and to do that, you need the Millionaire Success habits. So let's talk about the three things to start talking to your kids about money. Here's what I believe. Like I said, going upstream, I believe rules. Even though rules are good and you need rules as a parent especially, you need rules in a relationship, you need rules when you're in business. I get all that. But rules don't stick without one important word, and that's values. It's funny, I'm recording this on a Sunday, and today I try to do it every Sunday. I've been lacking a little bit, but I try on every Sunday to have a family meeting with my two children. And today our family meeting was about values. Because here's what I said, without values, nothing sticks. For example, my kids get a $10 a week allowance for doing their chores. Out of that $10, the deal is 20% goes into savings, 10% goes in to help others. So we have savings, 10% help others, and the rest, the 70% that's left, is fun money. They do whatever they want with it. My daughter tends to save more. My son blows every dime of it. But at least that's how we start. Now, that could be a rule, and it is a rule. You do your chores, do what you're told do. There's weekly chores. There's a things they're supposed to do every day, and for that they get $10. And it's broken up that way. We have three Tupperware jars that they split their money in. And. And that's part of how they do it. That's their rule. But if they don't have the right values, that rule will never stick. I'm going to get back to that, but let's just talk about this. My daughter plays softball, and I would love to set the rule that you have to practice two times a day or two times a week. I would love to set the rule that you need to see a pitching coach. She's a pitcher. You need to sit a pitch, see a pitching coach. But here's the thing. That rule, just like the money rule, will never stick unless the values aren't there. Now, let's just talk about honesty. Now, I told my kids they're gonna have the easiest. They're 10 and 12 now. They're gonna have the easiest teenage years out of any kids. They know their dad's gonna be really easy on them if they do one thing. If they tell me the truth, they don't compromise the truth. They talk to me openly and honestly. They can respect and trust that the will not get them in trouble, but it will spark a conversation and maybe adjustments. I said, if you don't tell me the truth, if I catch you lying, unfortunately, making up once you lose, break trust. Lose or break trust, it's really hard to get it back. Then I'll be the dad like everybody else, with lots of rules and penalties and all that stuff. But even if I tell them not to lie as a rule, it won't stick unless that's a value. So here's what I believe at this age of my life, when it comes to my kids telling their father the truth, it is something I've instilled in them since they were little. When they were little, like 2 and 4 years old in the back seat, I said, what can you tell dad? And they knew. Literally almost every day I drove them to school, they'd say, anything. I said, that's right, anything. You tell me, even if it's something that I'm not happy with, even if it's something we did wrong, the truth will be so much easier. And I'll be able to have an open conversation and I'll trust you when they're older. I have never gone back on a promise I've given my kids. Literally, when I'm tickling them, they'll say, stop. And I'll say, I'll stop. I'll stop. And I tickle them. Stop, stop. I tickle them. If my kids go, promise you'll stop tickling me. They know they could lift up their arms. They can taunt me. I won't touch them if I promise. So I showed that to them, I expressed that to them, and now they have this value. It's part of their culture that telling the truth gets rewarded and not telling the truth will take away this relationship ease they have with their father. Now, going back to my daughter, when she wants to pitch and she likes to win, she knows that my ethic is find someone who's doing it great and practice hard, practice often. Pay, cut a check for somebody who's doing really well. A pitching coach. Use your allowance money. I'll partner with you on it. Learn from somebody. Doing great hard work and practice will get you there. But if that was a rule, it's never going to stick. But what I do is I tell them stories all the time that Graziosis, my last name, Graziosis. When they do something, they do it full out. I say, bri, if you don't like softball anymore, that's okay. You don't have to play anymore. But if you're gonna play, we don't dabble. Don't go out there and practice once a month and go out there and get frustrated at the games because you don't win at games. You win when no one's watching. You win when you're practicing at night, when your friends are doing something more fun, you win when you're. You and I are out there with a pitching coach and your hand and your arm hurt from throwing so much. That's how you win. So as a Graziosi, you win by playing when no one's watching. As a Graziosi, if we're going to do something, we go all out. We don't dabble. And that's been something I've been telling them since they were little. Now I don't have to give my daughter a rule to practice. If she's going to be on the team, she wants to be the starting pitcher. She knows she has to play full out. She has to do what Graziosis do. That's her value now, is it perfect? No. Are my kids absolutely stunningly amazing? Yes, in my eyes. But are they perfect? Heck no. But that's their value. So now I circle all the way back around with money. How do you create a family or children that money is treated the right way? It's got to start with values, all the different things. When it comes to money, you need to know what your values are and then find a way to instill those values in your children. Listen, if you just tell them, save your money, don't blow it so much. That's a rule. Rules are meant to be broken. They say, sorry, I'm in a garage, underground garage, going to a restaurant and I just got to finish this audio. If you're listening, it doesn't matter if you're watching, it got a little dark. But here's the thing. My kids again. Are they perfect? Heck no. Am I a perfect dad? No way. I mess up all the time. But here's what I know. When I talk about the mortgage in my house, I say if I don't work hard and create a way to save money properly. If I don't pay the mortgage, they come take the house. If I don't pay the electric bill, they shut the lights out. I literally will pull out an electric bill, I'll pull out the mortgage, I'll pull out expenses and let them know when dad, dad's out working hard. It's so we can have this great life. But money doesn't come on its own. And those those who don't value money the right way end up struggling. Those that give up and work for someone else. I talk about entrepreneurship non stop in my family. I talk about how you can step up and go to another level if you. If that's what they sold, if that's what their soul desires and create their own thing, have their own business and work for themselves. Create and work for your own dreams, not somebody else. I created values around money, so the rules are easy. So when people ask me, how do you start to teach your kids about money? I gave you a long answer. Work on their values and then the rules will be rules that they could make on their own. That's my message for today. Sorry for the in and out of the dark, but if you're just listening, it doesn't matter. And if you're watching, who cares if it's dark? The value is there. Appreciate you all. Remember one thing, all success starts right here. Listen, if you like the video, make sure you click. Subscribe right now so you never miss an episode and while you're there, click the notification bell so you'll know when the next one goes live. You can always follow us on Instagram, and if you don't already have millionaire success habits, you can grab it for free@deansfreebook.com Remember, all success starts here.