The Money Mistakes of Our Forebears And Their Failure to Set Us on The Path to Financial Literacy
Money has been one of our race’s most elusive goal. And it continues to remain so till this day.
This is because money is a consequence of a permutation of factors that remain high-ceilinged to the average human.
A spiritual mentor told me once, and rightly so, that surmounting the vicissitudes of livelihood, is the achievement of a greater share of whatever success definition exists out there.
I can relate with that on a profound level. I encounter a lot of people, even during small talks, struggling to drive home the point that success sprawls far beyond money.
That is indisputable in so far as they realize that money occupies the central and larger portion of the success pie.
Whatever notion of success, achievement or happiness you hold still hinges on money.
It is a disservice on a personal level to treat money issues with levity and to not hold them with the firm grip they merit, giving the central role money play in our every day existence.
That is where our money problems mostly find their roots. When it comes to money we live perpetually in self-denial.
Basically, schools were not meant to provide all our educational needs. Leastwise, they ought to provide the torch and set the tone for all our future undertakings and aspirations.
Parents and schools have been largely inept in setting their children and wards on the path to financial literacy and entrepreneurial success.
The game of money is more of a sprint than a marathon, as is business success. The earlier you start the better your chances of reaching the finishing line stronger and ahead of time.
Hence, parents are in a better position to hand to their kids the necessary head start.
When their own financial literacy is on life-support, you can’t expect a grain of guidance from them. Little wonder the crass financial ineptitude of kids born of such parents.
The accumulation of money follows the entrenchment and practice of certain habits. Much like manners, parents are duty-bound to instill successful money habits on their children right from the primal years.
Parents have masterminded many a career failure of their children.
In a self-defeating attempt to guide them on the path to a lucrative career, they push their children into fields to which they are not cut out for.
The backlash is a gross limiting of the child’s potential.
Without due analysis of the child’s nature, gifts and interests, fathers (more than mothers) deprive their sons and daughters the rare chance of gaining mastery of the field where their chances of reaching the zenith through tapping into their innate abilities are highest.
Two Ways Parents Can Guide Their Children To Financial And Career Success
1. Keep a keener eye on your child as they grow. Scanning for inclinations and natural talents. Identify objects, subjects and interests that sways them and holds their attention unusually longer.
Therein lies their best career choices. Your job as a parent is to guide them along the path of fully exploiting their natural gifts and talents. Your task is to spur them to make career choices around the fringes of their innateness.
Done rightly, such guidance will lay the necessary footing for success in their career, business and in how they handle money.
2. The more we know and apply the more we may earn. Since knowledge and skills grants us the ability to fulfill more of our world’s needs. A devotion to continuous learning is by this note a valid financial advice.
Set the pace for your children by becoming an avid learner yourself, consuming information and absorbing knowledge of your field, its allied areas and beyond.
They’ll pick up the cues with little or no effort to persuade them on your side.
Your learning must be organized, coordinated and specialised if it must yield the desired result.
Reading everything that comes your way will amount to not mastering any specific area. Your efforts and time leading to little or no appreciable progress.
Same applies to gaining certifications and training in varied fields that are not directed towards a specialisation.
If you are a father and have succeeded in putting your children on the right footing to financial success, please share with us the strategies that worked for you.
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