TEACHING KIDS THE VALUE OF
MONEY.
ONE WAY OF DOING THAT IS TO
ENCOURAGE THEM TO FIND A SUMMER
JOB.
WHAT DO YOU WANT TO -- TO WHAT
YOU WANT TO DO SO THAT KIDS
KNOW THE VALUE OF FINANCIAL
INDEPENDENCE.
HERE ARE SOME TIPS.
WE ARE TALKING ABOUT
FINANCIAL INDEPENDENCE ON
INDEPENDENCE DAY. OKAY.
AVOID MICROWAVE THINKING.
WHAT DOES THAT MEAN?
IF THE GOAL IS TO TEACH YOUR
CHILDREN ABOUT HAVING FINANCIAL
INDEPENDENCE, DEPENDING ON WHAT
WIDGET THEY ARE INTO THAT THEY
ARE SELLING, WHAT THEIR CORE
INTERESTS ARE, ALL THOSE
THINGS, IT WILL TAKE TIME.
A LOT OF THE TIME I AM COOKING
FOOD.
I TRIED OUT THE MICROWAVE
THINGS JUST TO PUT MY CHILDREN
IN THE MINDSET THAT SOMETIMES
YOU HAVE TO WAIT FOR SOMETHING.
THAT ALONE IS PREPARATION FOR.
IF YOU THINK IT WILL BE
INSTANTANEOUS AND CREATING
MASSIVE DOLLARS -- DOLLARS YOU
ARE GOING TO BURN DOWN.
BE PATIENT.
I LIKE SPORTS.
I AM NOT A SPORTS KIND OF
PERSON BUT I LIKE IT FOR THE
NETWORKING COMPONENT.
I'M NOT A BIG FOOTBALL PERSON
OR BASEBALL PERSON.
THERE ARE A FEW SPORTS THAT,
DEPENDING ON THE INDUSTRY YOU'RE
IN, GOLFING, TENNIS, IT MAKES
IT A LITTLE BIT LESS OF A WALL
TO CLIMB WHEN YOU ARE PLAYING
SPORTS WITH THAT PERSON.
THAT HELPS OUT.
IT ALSO TEACHES TEAMWORK AND
LEADERSHIP.
AND RUBBING ELBOWS.
OKAY.
WATCH WALL STREET AND MAIN
STREET.
YES.
AS SOON AS YOU CAN INTRODUCE
YOUR CHILDREN INTO FINANCIAL
JARGON, DO THAT AS SOON AS
POSSIBLE.
HAVE THEM LOOK AT WALL STREET
AND LOOK AT FORBES MAGAZINE.
YOU CAN PUT THE MAGAZINE AT THE
TABLE.
THE FIRST TIME THEY HAVE TO
DEAL WITH MONEY IT IT IS NOT
WHEN THEY ARE WITH COLLEGE.
BRIDGE THAT GAP.
WHEN WE ARE TALKING ABOUT
INDUSTRY, HAVE THEM TALK TO THE
MANAGERS.
HAVE THEM TO TALK TO
ENTREPRENEURS AND ASK
QUESTIONS.
WHEN YOU SEE THE CURIOSITY AT
FIRST CREATIVITY.
LEARNING TO INTERACT WITH
ADULTS.
I LOVE THAT IDEA.
YOU ALSO SAY LEARN TO LAUGH.
YES.
IF ALL YOU'RE THINKING ABOUT
MONEY, YOU BURN OUT.
IT IS GOOD TO LET YOUR CHILDREN
SEE WHAT MONEY CAN DO.
EVEN, DEPENDING ON WHERE YOU
ARE FINANCIALLY, YOU MAY WANT
THEM TO LOOK AT DIFFERENT TYPES
OF CARS.
WE GET OUR CHILDREN IN THE
MINDSET THAT MONEY IS FOR
SURVIVAL.
IN FACT, IF YOU HAVE TO HAVE
MONEY MOTIVATION.
A LOT OF US USE THAT TO LAY OUT
OUR GOALS. YOU SAY THIS HAS TO
DO WITH MONEY?
YES.
IT HELPS WITH MONEY AND
CHILDREN.
HERE IS A COOL THING YOU CAN
DO.
YOU CAN HAVE THEM WRITE A
LETTER TO THEIR FUTURE SELF.
YOU CAN ASK THEM TO TALK ABOUT
THINGS THAT THEY WILL EXPERIENCE
. WHERE THEY WILL TRAVEL, WHAT
THEY ARE GOING TO DO TO EARN
MONEY.
THEY CAN SEE THE END RESULT.
SOMETIMES WHEN YOU TELL YOUR
CHILDREN KNOW, THEY CAN'T PUT
IT INTO POSITION.
IF YOU CAN TIE IT INTO THIS
ULTIMATE VISION, WE PUT MONEY
TO THE SIDE FOR YOU TO GO TO