Hello Aluxers! Many of you are already parents and for those of you who aren’t there yet,
it might not be that far into the future.
For many families, money is a taboo subject.. But why is that considering that most of us
will have to use this tool for the rest of our lives?
Most parents don’t teach their kids about money because they don’t know much about it themselves.
As an aluxer, you’re already way ahead of the curve of everyone else
So in this sunday motivational video, we decided to give you a hand and break down 15 Things To Teach Your Child About Money.
And even better, part 2 is already live on our NewParents channel with another 15 once you’re done with this... link is in the description.
But let’s go through it shall we?
Many grow up with this idea that the pie is limited; that there’s a limited amount
just enough to go around and if you take a bit more, then someone else gets a little bit less.
This is one of the scars of the agricultural and industrial age: this land can bare this fixed amount of crops..
You could never 10, 100, or 1000x the production based on the same raw input.
Today, we create value by solving idea problems.
Your child will grow up in the world of the internet 2.o,
where his opportunities will be dramatically different than the ones you had for yourself.
Teach him or her early that there are no ceilings but the ones we set for ourselves!
It used to be that money was a linear outcome.
You chopped wood for 10 hours, you got paid for 10 hours of chopping wood… linear.
Your child could write a piece of code, write a book, create a song, create the next uber,
airbnb or amazon, and the result will be non-linear.
The more help you can provide, the more money the market will give you as thanks.
Teach your child to not have an emotional relationship with money
and see it for what it really is: a tool.
like paying the bills and buying other material things.
Only a fool would expect money to make him happy,
to buy him quality friends or aid him in finding his life purpose.
This doesn’t mean you shouldn’t want money, for there are many problems where money is the perfect fix.
In the words of Kendrik:
Effort and intentions are not enough,
and if you’re a smart parent you will instill this in your child early on.
You won’t get ahead without working hard, without effort,
but just as important is the direction you’re heading in.
And the truth is, no-one can be happy unless they’re free.
Only once one achieves freedom they can begin to work on happiness.
How many times have you seen people with money that are miserable?
How many are so obsessed with playing the game for an imaginary high-score that in the process
end up sacrificing everything that brought them happiness as collateral damage?
Fundamentally, there are 3 things your child should pursue in life:
Freedom from chains - which in our case comes in the form of money
Happiness - which comes from introspection usually
aided by meditation and our understanding of the world
Health - which comes from our understanding of the body and its role in the ecosystem.
Without these 3, one can not have quality relationships,
one can not help those in need, one can not make himself or the world better.
If you are looking for the perfect mix of meditation and focus,
we recommend you go to alux.com/meditation and check out mind mastery.
We designed it for people just like you!
Basically, teach your child to not be a dingus.
As much as society likes to rank people based on their
place in the social hierarchy, your income is not correlated to how decent of a human being you are.
As a parent, you want your child to understand that everyone should be treated with respect,
from the janitor to the ceo of the company.
Teach your child to see beyond the curtain people put on display,
it will help them tremendously in picking out quality friends that will be there for them when they need it.
Because your mind will give up a lot later than your back.
Society rewards added value: the amount of value you can add with your back will always be limited.
Teach your child early on the importance of using their minds as a competitive advantage.
Teach your child to differentiate between real and pretend.
Teach your child to see real value outside of marketing. If done right, your child will never feel the
need to play Status games or at least they’ll have the feeling under control.
You want your child to be wealthy, to have more than they’ll ever need so they don’t have to worry,
you want your child to be rich in experiences, in friendships,
not in the latest off-white sneaker or whatever overpriced bowler hat supreme is trying to get you to buy.
Expanding on the previous point,
did you know you can be paper-rich and still be very close to being broke.
We know people who earn in excess of a million a year and spend almost just as much.
These people are rich, but they are not wealthy.
If they got hit by a car tomorrow, their family wouldn’t be able to afford their current lifestyle.
Wealth is money coming in while you sleep. Wealth is not having debt breathing down your neck.
Wealth is having time to spend with your child because you can afford not to go to work today.
Don’t fall prey to the illusion of wealth disguised in the richness of golden handcuffs!
Teach your child to learn in the age they’re living in.
Fundamentally, the educational system has failed because they were simply
unable to catch up, much of it still being too stuck in the past to see it.
School can’t teach your child to build the next SpaceX or Tesla.
and because of it they won’t know how to nurture it to blossom.
We are the first generation to experience both before and after the internet.
Your child will grow up in this world AND in virtual worlds.
You grew up commuting to work, while your child might never have to set foot in an office cubicle ever in their life.
In order to build a retail store, you used to have to find a location to rent,
invest in the interior design, in the tech, uy products in bulk and then sell it to the local customers.
But, right now, you can go to alux.com/sell and before the end of the day
you could be selling products to anyone in the world thanks to shopify.
Allow your kid to play video games,
for games are the future of media.
Allow your kid to build technology, for what he’s building is the future tech his children will be using.
The trap in modern technology lies exactly in this.
You have people who have achieved fame that are not wealthy.
You see them every day in your Instagram and TikTok feeds.
Teach your child to build wealth silently
and then decide for themselves if they want to add fame to the equation.
We read this in one of Trump’s books when we were a lot younger.
He’s not the president of the United States… So, I guess it worked for him.
The leverage comes from your creative ideas and your ability to solve problems.
Keeping up with the previous example, chopping wood has zero creative leverage.
Teach your kid to use leverage to achieve bigger goals for the same amount of work.
When you’re poor you think that if you had a lot of money you would just give it away to those who need it.
Then you educate yourself and learn that that is not the case.
As the old tale goes: Give a man a fish and you’ll feed him for a day,
teach a man how to fish and you’ll feed him for life.
Money should go towards teaching people how to fish and eventually buying or teaching them how
to make their own fishing rods, only then people are free of the trap of uncertainty.
Teach them to be better and bring people up with them.
These are big questions that fundamentally dictate the path a child will take in life.
You want your child to have real skills and abilities.
Most people never realise just how expensive money is..
Mostly because they never took the time to understand how to value it.
There comes a point in someone’s journey where no matter how much is on the table
the cost of getting the money is higher than the payout.
Maybe you would and that’s ok, because for some of you right now, 1 million would be
life changing money, it would dramatically improve your life and that of which you love…
but let’s say you already have 200 million in your bank account…
1 year for 1 million? Of course not..
Would you trade the relationship with your children for whatever amount of money the market is throwing at you?
Would you trade your soul or peace of mind?
Some things are too expensive!
If this is something that resonated with you hit the like button on this video,
it helps with the algorithm and don’t forget that part 2 of this video is already live.
All of these are incredibly valuable which raises the question:
It would be a great discussion for us to have in the comments.
For those of you who’ve made it to the very end of the video, you’re getting a secret gold nugget:
Your children will have a relationship with money even before they become adults.
Almost every fundamental idea people have about money comes from observing how their parents managed it while they were very young.
Some kids see their parents blowing it on fancy tvs but struggling to pay the bills.
It isn’t enough to teach your child the good lessons about money,
they’ll forget or disregard them if they see you not practicing what you preach.
This is a call to you as a parent or even future parent to live life in a way that’s beneficial to the next generation.
and right now you have the power to shape them, do it with grace, wisdom and kindness.
If this video inspired you to improve your family, please go to the part 2 of this
video and write FAMILY in the comments. NewParents is like ALUX for parenting,
so maybe you’ll consider subscribing if this is something you’re interested in.