Hello, gorgeous. Let me ask you a question about kids.
Do you have any influence on kids in your life on the moment? Maybe you have kids or your own or maybe you’re an auntie or a grandma or whatever.
I would like to talk today about what your kids are learning from you about money.
It’s going to be pretty juicy and I’m coming at you live from Willow’s room.
Prefer to listen? Click below.
Lucky Bitch Video Transcript – 3 Ways You’re Impacting Your Kids Money Mindset
I’ve spoken about this a few times on my blog. But, I want to go a little bit deeper today because I think it’s really interesting for us to be really honest about what our kids are learning about money from us right now.
It can be a little bit eye opening, a little bit confronting, but I think it’s an important discussion because it also impacts how you’re thinking and feeling about money right now.
That is, obviously, a hugely important conversation.
First of all, what are our kids learning about saving right now?
This is a tricky one because maybe you don’t save any money at all. That was me just a couple of years ago. We were just living paycheck to paycheck. There was never any extra money.
I really encourage you to look at your own savings here and see if there are any money blocks behind them.
Are you worried about having excess money in the bank? That might sound really dumb. It’s like, “Why wouldn’t I want to have more money, Denise?”
Think about any time when you’ve had extra money in your life. Do you feel like you’re going to blow it all or do you not trust yourself or do you actually even feel guilty for having extra income in your life?
That’s one of the very first things I want you to think about: how you’re imparting that wisdom of saving for your kids.
- Do they have a savings account?
- Are they putting money away?
- Do they have a piggy bank?
- What happens to their pocket money if and when they get pocket money?
- Do they save some of it?
It’s obviously a rainy day here, but teaching kids that concept of saving for a rainy day is really, really important, but only really if you’re walking your talk and you’re saving for a rainy day as well.
How could you have that discussion with them?
You can talk about upcoming things and why you’re saving money for them. Or, maybe you’re saying,
“We’re not going out tonight because we’re saving for Disneyland,”
“We’re saving for Christmas,”
“We’re saving it for a special occasion.”
You can do those things without giving them that sense of, “Oh, we’re broke. We can’t afford it.” It’s like, “No, we’re saving that and we’re really excited about that for later.”
That was my first question to you: What are you doing for savings at the moment?
The second juicy question is: How do you talk about making money right now?
Are you constantly saying things like, “Money doesn’t grow on trees?” Or, “You have to work hard to make money.”
It’s really important here to really look at what you’re saying about money and how easy or hard it is to make. If it’s like, “Oh, we’ll just go out and get more money,” that’s kind of a bit weird as well.
But, if you’re like, “Okay. Here’s how we make money. Here’s how mom makes money. Here’s how dad makes money. Here’s how entrepreneurs make money.”
Just get them to see that there is a link between effort or inspiration or creativity and income.
It’s not always about hard work or sacrifice or another day another dollar.
The third thing is: How do you talk about rich people?
You might be a rich person yourself. But, you still might say negative things about rich people.
You might be not quite along on your journey as you want to be and that’s even more important for you to talk positively about money and wealth.
We know from our own money work that a lot of our stuff came from our childhood and a lot of our thoughts and feelings about money and rich people have also come from TV and movies.
If you think about some of the movies you watched as a kid, you know the rich bitch always had her big shoulder pads on and they’re always shown to be quite ruthless or mean or calculating or greedy. There aren’t that many good, nice depictions of just nice rich people who are normal and just like us.
It’s up to us to shape that for our kids as well.
Maybe a movie comes on and there is a crazy rich person, like Scrooge McDuck or Mr Burns from The Simpsons * – take the opportunity to say, “Oh, wow. What do you think about that rich person? What do you think about rich people in general,” and see what comes up because that is their money blocks; that is their money future.
We know from the thousands of women we’ve worked with in Lucky Bitch, often, we’re holding ourselves back because we don’t want to be that rich bitch that we think we’re going to be when we’re healthy.
Now is a really perfect time to not only change your own language about money.
Stop using ‘rich bitch’ and greedy bastard and ruthless whatever.
Change your own thoughts, but then also point out hypocrisy and point out negative portrayals of rich people when you see them.
Take that time to have that conversation with your kids and challenge their viewpoints so they’re not being entrenched as rich people are this and poor people are that.
Have that conversation. It’s really important.
There are three really juicy, juicy things to talk about with your kids and how you can help shape their money futures.
I’ve actually just created a brand new free workshop. This is actually one of the bonus modules in my Lucky Bitch Money Boot Camp.
But, I’m opening it up today because I am so passionate about this topic and I want to get this free mini kids workshop — Kids and Money Workshop — into as many hands as possible, especially parents.
You can get access to this today. There’s a handout and there’s a couple of videos as well. It’s really fun and cute. Willow takes a little appearance as well — a little cameo at the start.
You can get that today at LuckyBitch.com/kids. It’s only going to be available for a limited time, but make sure you share it with your moms’ group, your parents’ group and share it with other mompreneurs that you know.
This is a hugely, hugely important conversation and we can really help our kids avoid some of the money blocks that we have had in our own life.
Remember, their money story is being shaped now by you, which is both amazing and scary.
But, they’re in absolutely amazing hands with you and all the stuff that you’re learning about money can absolutely filter down to create amazing things for them as well.
Once again, if you want to continue this conversation and get that free mini workshop, it’s at LuckyBitch.com/kids.
I’m so excited for the next generation and I’m so excited for you and your money journey, too. Bye!
Did you miss last weeks video? Check it out here: How to Break Through an Income Plateau.
* Correction – I originally said Mr Smither’s from The Simpsons. Totally meant Mr Burns!