Tue. Jun 25th, 2024
Nadeem Qureshi

What you believe about money might not be true. Our beliefs about money making as big of an impact on our prosperity are what we actually do with it. What we think and what we say about money has a huge effect on what shows up in our lives. And many of these thoughts and beliefs are rooted in what we see hear and experience as children. What’s your earliest Money memory? Mine is a three-year-old me asking my mom mommy where’s daddy going? And she’d say daddy’s going to work. Why is daddy going to work? She’d say to make money. Why is daddy make money? and she’d say to buy your toys. He thought it was cute I liked getting toys.  We’d say this over and over again. My dad went to work my mom stayed home. She was well educated and sometimes had jobs but her activities really didn’t have anything to do with our family finances. Powerful money message for me whether I was aware of it or not and whether they intended it or not. When I was in my 30s I had an MEd (Masters in Education) and got job in a private organization as a teacher educator fascinated with understanding people’s money personalities. And I realized that I was carrying around the belief that making money was my job just like it was daddy’s and that I mean this made absolutely no sense. We begin to imprint our children’s prosperity programs from the day they’re born. How do we usually teach children about money maybe through allowance or helping them save? Maybe you’ve even discussed investing. And chances are you’ll learn money lessons this way yourself. Most of us try to teach our children to be smart with money. We think we’re doing the right things by focusing on facts and figures and the tactics of being good with money. These financial literacy lessons are necessary. They’re great and here’s what’s missing. If these concepts are all that we focus on. We’re missing the opportunity to truly cultivate those skills to help our children grow up to be prosperous adults. They also need to have a healthy relationship with money. What money messages are your children receiving that may be unintentional? Children hear how we talk about money, they see how buying decisions are made, and they notice how we react to financial situations. They’re always watching absorbing our stress and our attitudes. Even if we don’t talk about them. For instance, if growing up you got the idea that rich people were selfish and dishonest. Be really hard to build wealth as an adult, if you feel like you’re a nice honest person. Money is a source subject in your house constantly fought over. What are your children taking away from that? That money’s something to fight about that money’s power. I’m not going to talk about money when I grow up because I don’t want to have fights like that in my house. What we can’t control would they take in. We do know their prosperity programs are forming. Knowing what a huge impact the leaves have on our personal prosperity wouldn’t it make sense to nurture supportive beliefs in our children. Now how can we intentionally foster a healthy prosperity program? Well here’s one thing: picturing prosperity is something children excel in. So the next time you’re inclined to tell your children to stop daydreaming ask them to picture exactly what they want instead. Now, what is at the same time we’re doing our allowances? We ask questions like: What would you like your life to look like in the future? and how do you see making this happen? It’s well established that mental rehearsal is a powerful tool. Certainly, elite athletes know this and if you’ve ever pictured yourself having the perfect golf swing or tennis shot or even giving a powerful presentation you know that this works. Asking your children questions to help them imagine all the details of their future vision. Ask them how they’ll feel when their vision is real this can be really exciting. Have your children draw pictures of their goals and dreams. Have been pre collages of what they desire basically creating vision boards. You know this is where you take images from magazines that represent your goals and dreams and put them on poster boards for inspiration. If you ever considered using this is the basis of a visual financial plan. To do this organize the images based on time frame and amount of money it will take to reach your goals. What if instead of the family game night we had pictured your prosperity night? Encouraging your children to picture prosperity creates excitement and just may inspire them to take the actions they need to turn their dreams into reality. There’s something I’ve learned from experience that may be surprising. Even really wealthy people are often worried about not having enough or losing what they have. Study after study shows that one of the top things keeping us up at night is worrying about money. But worry is a really bad financial planning strategy. One of the best ways to lower anxiety levels about money is to focus on what you’re thankful for. Why? Well it moves our attention towards what we want as opposed to what we don’t want. And directs our thinking from scarcity to abundance. Knowing this we started a daily gratitude practice when our children were small. Each night before they go to sleep which are five things that we were grateful for.

You see money is like love the more you’re open to giving the more that flows back to you. Many people see this world as having a limited amount of money or resources or opportunities available but just like with love this isn’t true there’s abundance all around. One of the best ways to be open to this abundance flowing to you is to loosen your grip on money. See if you’re hanging on so tightly to what you have afraid you won’t have enough how can you possibly receive? On the same hand if you’re always giving giving giving giving that doesn’t work either. Has anyone ever heard it’s better to give than receive? Oh, if you did it’s not true! They’re both important. Studies and happiness have shown that giving boosts happiness levels. So if you’re not open to receiving you’re hurting somebody else’s ability to be happy. Encourage your children to volunteer. Teach them to take a portion of their money to use to help others or for causes that are important to them. This begs the question. Can giving make you rich? But one study showed that as people’s charitable contributions increased. They actually made more money. So imagine two families with the same number of children same education level same income level. The difference is that one family gives Rs,1000 more to charity this year than the other family. But the research showed was the family that gave more money actually made three lac and seventy-five thousand more income that year. If this is true what could they do with that money? What would you do with it? This can make a powerful difference for you and for your family in your community. Focusing on giving and gratitude moves us from seeing money as an obstacle. Keeping us from getting what we want to see. It is a helpful tool to affect positive change. Can you imagine a world where people are confident instead of fearful when they talk about money? Where we’re focused on what we’re thankful for instead of what’s lacking in our lives. A world where all children are brought up to believe that to be successful you need to be a good giver. What could happen? So many of the world’s problems could be solved if we saw the process of growing wealth as helping others then receiving. Then taking a portion of our own bounty to help others again. Let’s move past the concept of financial literacy this is way too low of a bar. The greatest impact happens not from how you manage your funds. But from how you manage your beliefs. We want our children to grow up to be prosperous. Visualizing prosperity gratitude and generosity nurture the beliefs that cultivate happy prosperous children who will grow up to solve the world’s problems.

3 thoughts on “Teaching our Children how to be Smart with earning Money”
  1. Dear Qureshi Sb.,
    You clearly show your concern about the materialistic approach in society. The motive of life to be happy and safe is missing in the education system. We as a community need to reflect on our practices and allocate essential resources to everyone which is one of the important jobs of the welfare state. There are a few more questions that need to be reflected. Do we have enough seats in universities to fulfill the dream/passion of every growing child? of course not. They have to compete in terms of marks and to get marks they could not enjoy their studies or college days. Stessful day to score the highest marks to beat other students.
    overall you initiated good debit to have happy children at home or children who have stress to be successful in terms of getting more and more resources from this competitive world.

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