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15 Things To TEACH Your CHILD about MONEY — Part 1

hello elixers many of you are already

parents and for those of you who aren't

there yet

it might not be that far in the future

for many families

money is a taboo subject but why is that

considering 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 alexer 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

welcome to alux.com the place where

future billionaires come to get inspired

if you're not subscribed yet you're

missing out

and even better part two is already live

on our new parents channel with another

15 once you're done with this

the link is in the description but let's

go through the first list shall we

15 things to teach your child about

money

part one number one there are no

ceilings to how much

one can earn many grow up with the idea

that the pie is limited but there's a

limited amount

just enough to go around and if you make

a bit more someone else gets a bit less

this is one of the scars of the

agricultural and industrial age

this land can bear this fixed amount of

crops you could never

10 100 or 1000 x 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

internet 2.0

where their opportunities will be

dramatically different than the ones

you had for yourself teach them early on

that there are

no ceilings but the ones we set for

ourselves

number two the more people you help the

more money you'll make

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

money is the reward people give you for

helping them overcome a problem

the more help you can provide the more

money the market will give you as thanks

number three money doesn't solve all of

your problems

but it solves all your money problems

teach your child not to have an

emotional relationship with money

and see it for what it really is a tool

tools solve problems they were designed

for money

solves money problems like paying the

bills or buying other material things

only a fool would expect money to make

them happy

to buy them quality friends or to aid

them in finding their 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 kendrick money trees is

the perfect place for shade

number four you will be rewarded based

on result

not your effort effort and intentions

are not enough and if you're a smart

parent you'll instill this in your child

early on

if hard work is all it took to be happy

and successful

then the kids mining cobalt in the congo

so you can have your new iphone would be

the richest of us all

you won't get ahead without working hard

without effort

but just as important is the direction

you're heading in

spend half of your time figuring out

where you want to go

and the other half working toward it

number five money doesn't buy happiness

it buys freedom and the truth is no one

can be happy unless they're free

only once one achieves freedom can they

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 three things

your child should pursue in life

one freedom from chains which in our

case comes from the money two

happiness which comes from introspection

usually aided by meditation or our

understanding of the world

and three health which comes from our

understanding of the body and its role

in the ecosystem

without these three one cannot have

quality relationships

one cannot help those in need one cannot

make themselves or the world better

if you're looking for the perfect mix of

meditation and focus we recommend you go

to alex.com

meditation and check out mind mastery we

designed it for people

just like you number six

having money doesn't make you better

than those who don't have as much as you

basically teach your kid not to 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 a company

teach your child to see beyond the

curtain people put on display

it'll help them tremendously in picking

out quality friends that will be there

for them when they need it

number seven make money with your mind

not with your back

because your back will give up a lot

faster than your mind

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

ideas are just multipliers for your

actions

number eight some people look rich and

some people are rich 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

little money is always loud while true

wealth

whispers number nine

you don't want to be rich you want to be

wealthy

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 comes from being comfortable

outside of your daily activity

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

number 10 use the tools of your

generation

teach your child to learn in the age

they're living in

fundamentally the education system has

failed because they were simply unable

to catch up

much of it is still being too stuck in

the past to see it

school can't teach your child to build

the next spacex or tesla

schools have no idea what brilliancy

might lie

inside the mind of your child and

because of that they don'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 buy products in bulk and then sell

it to local customers

but right now you could go to alex.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

because what they're building is the

future tech that their own children are

going to use

number 11. you want to be wealthy and

anonymous

rather than famous and poor the trap in

modern technology

lies exactly in this you have people who

achieved fame

that are not wealthy you see them every

day on your instagram and tick tock

feeds

teach your child to build wealth

silently and then decide for themselves

if they want to add fame into the

equation

number 12 if you're going to dream might

as well dream big

we read this in one of trump's books

when we were a lot younger

he's now the president of the united

states so i guess it worked for him

take this idea to actionable insight and

we end up with the following

it takes the same amount of work to make

one million per year as it does to make

one hundred thousand dollars per year

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 so teach your kid

to use

leverage to achieve bigger goals for the

same amount of work

number 13 you can't help the poor

if you're one of them when you're poor

you think 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

it's not the case

as the old tale goes give a man a fish

and you'll feed him for a day

teach a man to fish and you'll feed him

for life

money should go toward 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

how do you expect to help anyone else

when you can't even help yourself

teach your children to be better and

bring people up with them

number 14 the real measure of your

wealth is

how much you would be worth if you lost

all of your money

who are you when you strip away all the

glitz and glam

what is your skill set what are you

really able to do

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

nobody can take away what you know how

to do

teach her to be strong all on her own

and she'll take the world by storm

number 15 sometimes more money is

just too expensive most people never

realize

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

would you trade a year of your life for

one million dollars right now

maybe you would and that's okay because

for some of you right now one million

dollars would be life-changing money it

would dramatically improve your life and

those of which you love

but let's say you already have 200

million in your bank account

would you make the same trade then one

year for one million dollars

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 for peace of

mind some things

are too expensive teach your children to

understand

value versus cost if this is something

that resonated with you

hit the like button of this video it

helps with the algorithm

and don't forget that part two of this

video is already live

all of these are incredibly valuable

which raises the question

how many of these did your parents teach

you and how many did you have to learn

on your own

it would be a great discussion for us to

have in the comments

now for those of you who made it to the

very end of the video you're getting a

secret golden nugget

your bonus relationship with money

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 working hard

and saving money 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

your children will inherit the world and

right now you have the power to shape

them

so do it with grace wisdom and kindness

if this video inspired you to improve

your family please go to part two of

this video and write

family in the comments new parents is

like a lux for parenting

so if you're interested maybe you'd

consider subscribing over there

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