When I started teaching my kids on how to create a financial mindset – they asked me what are the secrets of getting rich dad? I said there are no “secrets of the rich”- just basic financial education and knowledge – by changing what you know – this will change your circumstances – I said to both my kids that our path to wealth will be an adventure in personnel learning and growth. By including and understanding new words and concepts into your vocabulary – you will be able to appreciate what the concepts and words mean and then notice these things in your daily life. It is like when you are looking for a new bicycle – you will start noticing bicycles wherever you look – this is why it is so important to get the mind and vocabulary in place first. By actively pursuing financial education – this in itself will create opportunities for you. By following basic steps that I will be outlining- your kids will be develop a financial mindset and be aware of the fundamentals of finance and then use these building blocks to actually understand why they need to build a balance sheet which will show their financial position.
I said to them that we need to read as much as possible about finance and this will give them a financial mindset throughout their entire life.
Jolee reading Warren Buffett books