Kareen MillsFounder & CEO, Friendsgiving Live® · Most Influential Filipina ’23 🏆 Founder of the World’s Largest Friendsgiving Festival for Women | Angel | Keynote | Sugar Mommy™ Media | Psalm 25:1 ✞

Hand Your Kids The Money Manual, Not The Money 💸 #moneycoach #parenting #financialliteracy

23 Jan 2024 · 1 min

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This content was created by Kareen Mills. This content was uploaded by Kareen Mills. This is a YouTube clip titled "Hand Your Kids The Money Manual, Not The Money 💸 #moneycoach #parenting #financialliteracy" (created 2024-01-23). It contains a short English monologue in which a single speaker addresses parents about generational wealth, arguing that without financial literacy even large sums (e.g., lottery winnings) are quickly lost, and urging parents to teach money management skills to their children rather than simply handing them money.

Chapters

Hey guys, what's up? Here's my message for you today. If generational wealth is about leaving your family and your next generation money, lottery winners would still have their money, but in average of 5 years they lose it all. And here's why. It's because nobody taught them how to handle it. Generational wealth then becomes financial literacy, passing on the tools and the education to your next generation. Therefore, moms and dads, teach your kids how to fish. Don't hand the money over to them because you are robbing them, definitely robbing them from the ability to learn. Teach them.