#252 "No Job for Our Teens" How We Teach a Wealth & Entrepreneur Mindset

The EXTRAORDINARY Family Life Podcast

A member of my 28-Day Challenge coaching program asked:

"I'm curious: what do your kids do for work or how do they learn work ethic? Our oldest is almost 16 and starting a job this summer which is flexible (thank goodness) but as much as she and our family go places we are trying to make sure we're home for part of the summer so she can get hours at that job and earn some money!

I know there are ways to earn outside a typical job: do you have a list of ideas for me? We considered selling some of her crafty works on Etsy and she's done babysitting jobs, but I don't see those online options really "paying off". When we consider doing yard work for others or house cleaning etc, I wonder how safe that is for her to go into homes alone...

...and I feel like our summers will be eaten up soon by our older kids trying to hold down jobs. My spouse feels it's so important for them to learn how to work for someone and they can work during the school year, but it would have to be a REALLY flexible employer. ;) I'd love any insight you (or others!) have."

And...

"Greg said once that his children WILL be wealthy when they grow up. What is it that gives him that kind of confidence (without of course giving them the money!😄)?

What books have you read and are teaching concepts to your kids or having your kids read? I know you guys do things the "non-traditional" way, so maybe there's more there that I don't know about...

It seems that most parents send their kids off into the world and tell them they have to work hard and hope they survive financially. I imagine our kids will struggle at times but that provides good and healthy lessons for them - do you include that part of growth on their own as something they will experience before they reach "wealthy"?

And if they don't go the traditional route with jobs, what are they doing to create that wealth? Wealth isn't everything, but money is a necessary tool in our world and his comment just got me thinking...

Along these lines, what are your thoughts on Dave Ramsey's teachings, like 'The Total Money Makeover'? (It's not on Greg's list under business/money.) Tell me more! :)"

Fantastic and very relevant questions for anyone who is raising children, which we answer in this episode in surprising ways -- such as discouraging our children from getting jobs, encouraging them to BECOME, buy, and acquire assets, and teaching them money psychology, wealth and abundance mindsets, and how to be entrepreneurs and investors.

We also address the potential dangers of youth going into homes alone -- and how to protect against it. PLUS better ways to teach children and teens 'work ethic' and to do hard things.

And we talk about how programs like Dave Ramsey's are geared toward obtaining or maintaining the middle class -- not toward creating generational wealth.

Don't miss this powerful episode that could alter your family's finances for generations to come.

RESOURCES:

• The Science of Getting Rich by Wallace Wattles ("You have a moral obligation to be wealthy")
• Money: Master the Game: 7 Simple Steps to Financial Freedom by Tony Robbins

Get our recommended book lists (including more on money psychology, abundance, and wealth):

• Rachel’s ⁠Must-Read Booklist for Well-Read Moms⁠
• ⁠Greg's ⁠Recommended Reading List for Parents & Youth⁠

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