All parents want nothing but the best for their kids, and that includes growing up to be successful in life. But when it comes to money, many parents struggle terribly to teach their kids about it. The good news: even parents who haven’t been financially successful themselves can teach their kids everything they need to know about money including how misunderstood it is by the masses.
Steve Siebold is author of the new book “How Money Works: Stop Being a Sucker,” and is a self-made millionaire who has interviewed more than 1,300 of the world’s wealthiest people over the last 35 years.
His 8 tips to help parents teach their kids how money works:
Teach your kids to dream big: The self-made rich are the biggest dreamers in the world, and parents encourage their kids to dream beyond what they think is possible. The truth is that not all their ideas are winners, but that doesn’t discourage them from thinking about it. Encourage you kids to dream about whatever it is that motivates, excites and drives them.