Should Parents Encourage the Many Ways for Kids to Make Money?There are numerous ways for kids to make money, and it begs the question should parents encourage their kids to make money or even think about money? After all, in one way or another our entire adult life revolves around money. Whether it's money we have, money we need to spend, or money we want, or money we lost money plays such an intricate part of our life now why should we "burden" our children with thoughts about money? Most experts agree that teaching kids money management and teaching kids about making money, spending money, and saving money all play a vital role in how financially healthy they are as adults. Being financially healthy doesn't necessarily imply having enough, it implies having a good relationship with money. Did you ever wonder why, in a typical upper class family of four, there always seems to be one child who grew up to be financially sound and stable and the other child grew up to be bone scraping poor despite their parents' considerable wealth? In almost every case, the younger child has problems making money. This is because neither child developed a healthy relationship with money. One child felt the responsibility that went along with being the older child, which included growing up successful. The younger child found that money didn't make for a loving home and they actually fear money no some level. Having a healthy relationship with money allows kids to grow up without fear of having money and without the fear of not having enough money. Developing these healthy attitudes toward money starts young and even if you don't have the picture perfect attitude about money, you can teach your kids to have an independent relationship of their own. This often leads to healthier decisions when they have money. It also leads to better decisions during those years when they don't have enough of it. One of the greatest gifts we can give our children is the ability to weather the inevitable storms that the financial responsibility of being a grown up will bring. We can do this by encouraging their entrepreneurial spirit when they are young but not pushing them to dig the family out of debt. When your little guys are coming with ways for kids to make money, they are often self motivated because they have a want that the parent won't fulfill or they have a curiosity about making money and growing up. Either way, encouraging this side of them and encouraging them to find out some answers on their own allows them to succeed or fail without harsh consequences. This leads to a much healthier monetary relationship with the world around them. Helping the next generation discover the many ways for kids to make money in an upbeat and positive way is far from a burden, but a gift. |
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