Nick PerryFounder and CEO of 7 Figure Cartel

This Is How the Wealthiest Families Raise Their Kids and Why You Should Do the Same

31 Aug 2026 · 1 min

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In this video, Nick Perry outlines a parenting strategy used by the wealthiest families to teach children financial literacy from a young age. Starting at age five, children are given simple household chores (e.g., cleaning their room, taking out the trash, folding laundry) and are paid $10 per week for completing them. The $10 is then split into three purpose‑driven “jars”: 1. Charity Jar – $2 each week is set aside for donation, teaching that wealth has a purpose and encouraging generosity. 2. Baller Jar – $4 each week is reserved for the child’s discretionary spending, fostering autonomy, choice, and the enjoyment of money. 3. Investing Jar – $4 each week is placed into an investment fund, and the parent matches it with an additional $1, turning $4 into $5, to demonstrate the power of compounding and the habit of investing. By the time the child reaches ten, they will have experienced earning, giving, enjoying, and growing money, laying a foundation for lifelong financial competence.

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This is how the wealthiest families raise their kids and why you should do the same. When they're 5 years old, give them a job, something like cleaning their room, taking out the trash, or folding the laundry. Then pay them $10 a week. But don't stop there, because this next thing is what separates the rich from the poor. Take that $10 and divide it across 3 jars. Jar 1 is the charity jar. $2 go in here every single week, and at the end of the month, Your child has to give it to someone in need. This teaches them that wealth actually has a purpose. Then comes Jar 2, the Baller Jar. $4 go in here weekly, and at the end of the month, they can buy whatever they want using it. This teaches freedom, choice, and autonomy. And finally, there's Jar 3, the Investing Jar. $4 go in here, but here's the magic— you match it with $1 buck of your own, so their $4 bucks become $5. Now, by the time they're 10, they won't just know how to earn; they'll know how to give, enjoy, and multiply money.