You’d like your kids to be smart about money. For many people that means teaching kids about money and the value of things, teaching them to understand how much things cost, and teaching them to save and to budget for the things that they want. Many parents are worried about “spoiling” their kids by giving them too much stuff that they haven’t worked for. The word “entitled” is one that I think most parents would not want to have other people using in describing their kids.
Most of us want to raise kids who have a sense of gratitude, and are willing to work hard if that’s what’s called for. But wouldn’t you also like to help pave their way to an abundant and satisfying financial life in the future? A life of unbounded possibility? A life where hard work is not seen as the only way to get ahead?
We all grow up with a model of ‘what works’. Often it’s based on our parents’ model of ‘what works’. That model then becomes the basis for what we believe to be true about the world. We then tend to seek and accept evidence that supports our belief, and we tend to discount evidence that doesn’t. This is a well-known cognitive bias.
The thing is, what worked for our parents didn’t necessarily work for us. We might have found that out the hard way. We might still be finding that out the hard way, if we haven’t already adjusted and updated our beliefs. In some cases, we are not even aware of how our own limiting beliefs are holding us back.
And what worked for us, won’t necessarily work for our kids. The world is changing rapidly. It’s estimated that we’ll see as much technological change in the next 5 years as we’ve seen in the last 20 years. Take a moment to let that sink in… Everything is speeding up. What that calls for, more than anything, is not an outdated formula for getting ahead, but a mindset that is flexible, allows for lots of possibilities, and can quickly adapt to change.
Because of this, there’s a lot more to teaching our kids about abundance than teaching them to budget and spend wisely, says Julie Ann Cairns, author of The Abundance Code: Busting The Seven Money Myths for a Rich Life Now (Hay House, September 2015).
In fact, in some cases the count-your-pennies approach may even sabotage possibility by passing on fears that “money doesn’t grow on trees” or “there’s never enough.”. We have to be careful not to create beliefs that limit what kids feel they can strive for and attain.
Deeply-rooted beliefs about money tend to be self-fulfilling prophecies, says Julie Ann. So one of the best tools you can give kids is a mindset that’s receptive to opportunities for creating abundance.
She offers 4 simple tips for achieving this:
- Try not to make the concepts of lack and scarcity dictate money conversations with your kids. When these topics do come up, keep them in perspective by balancing them with stories of hope and progress.
- Talk together about technological innovations and how they can help increase abundance and well-being throughout the world. Magazines like Discover , New Scientist and Scientific American are rich with examples.
- Brainstorm about creative ways to make out-of-reach or wish-list budget items accessible rather than saying, “No, we could never afford it.”
- Encourage kids to be generous by sharing and giving, emphasizing that what goes around comes around and that participating generously in our interconnected ecosystem helps make it — and our own lives — much better.
Above all, be mindful of how certain language such as “you have to work hard for your money,” “we can’t afford it” or “money won’t make you happy” can instill fears, anxieties and limiting beliefs that your children will internalize. This will shape their expectations and behaviour in ways that could potentially undermine their prospects for financial success.
Ultimately, you really can’t help but pass on some of your beliefs to your children, in ways that are both subtle and overt. So… the best thing you can do, is to do some work on yourself to remove belief limitations from your own subconscious mind. Exactly how to do that, is something that is covered in Julie Ann’s book The Abundance Code.
Once you remove the limitations to abundance in your own subconscious mind, not only will that support your own wealth creation abilities, you will then automatically pass on a a more abundant belief framework to your kids, without even having to think about it consciously.
About The Abundance Code (Hay House, September 2015)
Are you frustrated in your efforts to succeed and create abundance in your life? Are you exasperated even though you may have set goals for yourself, gained knowledge, and worked hard? Are your financial dreams just not working out the way you’d like them to, or as fast as you’d like them to? Are you wondering what is standing in your way, preventing you from accessing the life of freedom you’ve been dreaming about? The Abundance Code is here to provide the answer you’ve been searching for.
There is a hidden yet crucial element to success and abundance that most people are unaware of—because that essential element is buried in their unconscious minds. The Abundance Code (Hay House Publishing, September 2015) is about how you can (and must!) rewrite your subconscious programming so that you can effortlessly achieve the rich life of abundance you deserve.
Julie Ann Cairns takes you through the “7 Money Myths”—an extremely common set of subconscious barriers put up between you and your attainment of abundant wealth and freedom—and helps you overcome them, so that your subconscious “code” can come into alignment with your conscious goals for financial freedom. If your underlying programming does not support your goals—and it probably doesn’t—then The Abundance Code will provide the breakthrough you’ve been waiting for, showing you how to get out of your own way and finally access the life of financial freedom and luxury of choice you have always wanted.
About Julie Ann Cairns
Julie Ann Cairns’ life mission is to empower people to live an abundant life free from false beliefs. In this spirit, she wrote The Abundance Code: How to Bust The 7 Money Myths For A Rich Life Now (Hay House, September 2015), and has spearheaded The Abundance Code Documentary (April 2016) to help people everywhere make a shift to the abundance mindset and seek joint solutions to the most pressing challenges facing our planet.
Trained as an economist and statistician, Julie Ann began her career in Japan, where she received a post-graduate scholarship from the Japanese Ministry of Education (Monbusho) to study the stock market, and co-founded and ran an English school. She then worked as a financial markets analyst at the Reserve Bank of Australia, Macquarie Bank (also in Australia) and in 2001 co-founded Trading Pursuits Group, a financial markets education company, where she is currently managing director. Julie Ann has over 25 years experience in financial markets and wealth creation. She lives in Sydney.
How do you approach money conversations with your kids?
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