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Ever wondered what age you should start teaching your kids about money? Or how to do it?
Sharon Lechter, co-author of [url=http://www.re-tek.co.uk/abercrombie.html]abercrombie uk[/url] Rich Dad, Poor [url=http://www.buynflticketsonline.com]NFL Tickets[/url] Dad, which has sold over 27 million copies worldwide, believes you can start as young as age 4.
"At what age do you think a child knows the difference between $1 bill and $20 bill - or a ?1 and a ?20?" she asks. "Invariably, by the age [url=http://www.vivid-host.com/barbour.htm]barbour uk[/url] of four they know which one to take. You offer them $1 and a $20, they're not going to take the $1! They know the difference. They know that one has more value."
Sharon understands the need to teach kids about finances early. She says kids are bombarded with marketing messages from an early age. Too often, they are with us when we 'charge it' [url=http://www.rtnagel.com/louboutin.php]louboutin[/url] to our credit cards. But they are seldom with us when we pay those bills or earn that money.
She realized [url=http://www.getconversational.com]hollister france[/url] how important it is to teach children about finances after her eldest son went off to college and accrued a huge amount of credit card debt in just a few months. She watched him struggle but didn't bail him out, because she wanted him to learn from the experience.
Now she focuses on teaching children before they get into [url=http://www.achbanker.com/home.php]hollister france[/url] a mess like that, through her new brand, YOUTHpreneur.
"It's about igniting that entrepreneurial spirit in our young people, getting them to be excited again, to learn about finances through experiential learning," Sharon says. "You don't learn to ride a bike by reading a book. You learn to ride the bike by getting on the bike."
Sharon Lechter is one of 12 multi-millionaires I interviewed for my new book. All of them said the same thing: the messages we receive about money as children affect us for the rest of our lives. Get negative [url=http://www.mansmanifesto.com]www.mansmanifesto.com[/url] messages and you create poverty consciousness. Receive positive messages, and you create abundance and a 'prosperity consciousness'.
Sharon advises all parents to explain the economic world to their children every time they're out. Explain how everything costs money, even that little box their McDonald's Kids [url=http://www.sandvikfw.net/shopuk.php]hollister sale[/url] Meal comes in. Tell them that business [url=http://www.re-tek.co.uk/abercrombie.html]abercrombie and fitch[/url] owners hire managers to run their stores for them. Explain that gumball machines create passive income.
The whole world turns on money, and everything has a value. If you can instill this mindset [url=http://www.1855sacramento.com/peuterey.php]giubbotti peuterey[/url] into your children early, you'll have very money-smart kids when they get older.
Stephanie J Hale is millionaire mindset expert, trader and wealth coach. She is organizer [url=http://www.getconversational.com]hollister pas cher[/url] of the annual Women Millionaires [url=http://www.eastscotinvest.co.uk/mulberry.html]mulberry outlet[/url] Bootcamp in London.
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