Family Matters

Posts Tagged ‘money’

From time to time, we get a knock on the door and someone asks for a donation to charity. The amount of money is up to us and the minimum is typically small. The person is pleasant and often seems like one of the people who would benefit from our donation to this charity.

But to me, this is money for nothing. Sure, research shows that people get a sense of generosity and feel good about themselves when they give money at the door, in the office or secretly in some other way. I still think this is a short-lived feeling that keeps injustice and bad management in our society long term.

I believe that the fundamental ingredient missing from the charity model is self-respect. When a person cannot provide for themselves and relies completely on others for food, shelter and clothing, their sense of identity changes and they begin to see themselves as dependent and incapable of supporting themselves. If this goes on long enough, they end up feeling worthless.

Even if you have never been poor, maybe you have lost your job at some point or your partner has. The feeling of loss of self-worth can be debilitating. When it goes on for long enough and when the loss was big enough (like a top executive being laid off at an age that makes finding another job unlikely), some people even kill themselves. Standing in line for a social security handout is humiliating for anyone used to productive employment.

Money for nothing makes the recipient feel worthless.

When I was about 15 years old, I learned the hard way that sometimes you want things and only when you get them, you realize they were not what you wanted. Addiction is like this too – you want something and shortly after you get what you want, you realize it was not what you wanted.

As a life coach, I talk a lot about wanting. I believe wanting is essential in life. It is the driving force of our existence. But today, I want to tell you about a session on my life coaching deck that reminded me again why the question “Why?” is as important as the question “What?” Chris, one of my wonderful clients, taught me a wonderful lesson about what happens when you do not know why.

All I knew about Chris was that he was a businessman in his early fifties, married, with no kids and a lack of motivation who was looking for a life coach. Nothing special. We all have those periods in our life when we just find it hard to get up in the morning.

This is what I told myself when I prepared for his session. The first time he came, when I opened the door, I saw from the corner of my eyes a classy Mercedes Benz parked outside. Well, the first thing I could think of was “Oh my god, what a beautiful car”. I have to say it made me more curious about the reason he came. I thought that car was the result of lots of motivation.

“Why are you here, Chris? What do you want?” I asked him.

He looked confused. “I really don’t know. I think something’s wrong with me”.

I had my first business at the age of 25. I finished my Special Education studies and opened an Early Childhood Center that became a very successful business within a short time. I was a mother and a wife and had a mortgage, a car and a personal loan for my business.

If you hear parents tell you that kids are an obstacle for them, I can tell you that having kids is a bad excuse for not doing business. When the kids grow up and leave the house, they will be left with their excuses. So when they have to explain why they have never done what they have always wanted to do, they will start saying, “It’s too late now”, which is just another excuse.

If you are thinking of starting a business and will need to juggle business and family, it is a good idea to discover what you will have to do to succeed at it. Some people are not cut out to own and operate a business. Others do not know how to balance a home and a business. Managing your business, your home and your parenting well requires some skills and attitudes that will determine the success of your business, the quality of your family life and even your health.

Unlike people who do not have kids, business parents risk a lot more than their own time and money. They risk their relationships with their partners and with their kids, as well as the quality of preparation their kids get for life. You go into business because you want a better life for your kids, not to destroy your relationship with your kids, so do it right!

The first thing you learn about starting a business on the Internet is that everyone can do it. I remember the first seminar I attended. You may have had the same experience yourself. It is a free event that makes hundreds of thousands of dollars in sales in one day. The food, the venue and the free gifts are nothing compared to how many suckers come to those events for the promise of sitting on the beach in a swimsuit with a laptop, sipping cool drinks and watching the dollars appearing on the screen every day and every hour.

Gal and I went to our first event as life coaches. It was an awesome weekend. It was a great seminar and I learned a lot. For 2 days, they promised the world “Be your own boss! Work 3 hours a day! Money will be coming out of your ears!” and … “Everyone can do it!”

I have to say I almost believed them. I wanted to believe them with all my heart, but because our life coaching course had promised exactly the same thing, I had the suspicion there was a pattern there. Luckily for us, it was not a test of our trust. We just did not have $10,000 to buy the product on offer. We were shocked that our fellow coaches spent so much money just weeks after they had spent thousands of dollars on the life coaching course.

If you have ever heard these slogans about trying to build a business on the Internet, be warned, someone is convinced you are a sucker and might be taking you for a ride.

One of my clients runs a drug and alcohol rehabilitation program. Personally, he has been through every drug and drink known to man and suffered emotionally before, during and after his addiction periods.

He describes a drug user’s life as the chase of highs that never ends. He says that highs last less and less time and the in-between periods become more and more difficult and stressful.

That made me think about the way life seems to be going for many people these days and about how we are being encouraged from every direction essentially to live the life of drug addicts or alcoholics. Our drugs are legal, but we are no less dependent on them and they do us a very similar amount of harm.

Our drugs are money, fame, gadgets, brand names, number of followers on Twitter, number of fans on Facebook, trophies and grades, our kids’ trophies and grades, rank or title at work, the size of our house, the model of our car, being up to date with the latest gossip, our highest level at some video game and so on. They may not be chemical, but they are all addictive. We chase them, they give us a short “high” and then we need to go after the next “hit”.

People who live like this are never happy. Not really. They are very happy occasionally for a little while, but most of the time, they feel frustrated, stressed and depressed.

But is the way to happiness not through reaching a comfortable life with all the trimmings?

This week, I ran another Happy Parents Raise Happy Kids program at a local primary school. I had been in contact with that school for over three years now and had run various programs for students and teachers. For three years, ever since our first program, the principal, Cherie, had been trying to organize this workshop and looking for funds to make it happen. While most schools have a parent body that pushes for the workshop, Cherie had had to do it on her own.

As you can imagine, I started the day feeling frustrated with the time it took to arrange the workshop, but here is the story of what happened to the parents and me that got me to a completely different feeling in the end – gratitude.

8:30 am

I set up everything in the beautiful Resource Center next to the Junior Playground. Cherie said she was not sure how many parents would come. In some of the events she had organized for parents, only one or two of them had come. For this workshop, she had personally contacted each of the parents who had been struggling with their children.

“Ronit, we have many struggling parents”, she said to me several times. The school’s academic achievements had been low for many years and the last professional development with the teachers had shifted something in the dynamic of the school and in the academic achievements, so Cherie thought the parents were the next piece of the puzzle.

Every parent wants to raise kids who will be wealthy and manage their financials well. The best way to raise kids with a wealth mindset is to be a family in which good financial management is part of daily life. It is best if your family is also wealthy, but it is not necessary.

I grew up in a very simple family, you could even say a struggling family, with 5 children, and most of us are in a very stable financial status. My dad, who worked very hard all his life and was the money manger it the house, taught us very well. My family is proof that you do not have to be rich to raise kids with a wealth mindset. I think that if my dad could do it, you can too.

Here are my parenting rule about money, saving, investing and raising children who know their way through financial management.

Our highly commercialized world pumps us with the idea that being rich and famous is a good thing. Even things “mere mortals” find difficult to deal with, like going on a diet or breaking up with a partner, are leveraged to create more fame and more fortune for the celebrities. Scandals are just useful ways to sell the next movie or the new album. So useful, in fact, that some of them are manufactured.

In their song Lifestyle of the Rich and the Famous, Good Charlotte sing about how celebrities complain all the time and say their life is hard, even though they have money, mansions and other things money can buy. By contrasting fame and fortune with living on the streets, this song reflects general public sentiment very well.

But it is not true.

If you have been anywhere near a TV set in the past few weeks, read any newspaper or even glanced at a magazine at the checkout line, you have seen them – Prince William and Kate Middleton. Their lives and upcoming wedding were covered from every angle and then, their wedding was covered in even more detail. Anyone who had anything to do with them at any time was interviewed ad nauseam and every bit was replayed over and over again.

It is Christmas season. Yay!

Actually, for most people, the reaction would be a sinking feeling at the pit of their stomach, caused by the idea of the excessive (some say insane) shopping set in motion by the coming holiday. Previously a European-style Christian celebration of the birth of Jesus, Christmas has been transformed by massive retail chains into a worldwide shopping frenzy observed by followers of pretty much every possible faith.

On the face of it, all this buying and sharing of gifts is intended to increase the happiness of both givers and receivers and create a festive and generous atmosphere. But in reality, people spend hours agonizing over gift ideas, finding out where they can buy them without mortgaging their clothes, actually buying them, wrapping them, hiding them, keeping the secret of what they are and wondering how they will be received by loved ones and those we just had to buy gifts for.

On the receiving end, people (especially kids) spend months waiting to get the special things they put on their wish list for Christmas, only to be disappointed with what they actually get, because nobody ever gets everything on their list, even if they get some of it.

Can you see the level of happiness going up here? I sure don’t.

Some time ago, the kids and I discovered a song about being a billionaire by Travie McCoy (sung with Bruno Mars), most of which goes like this:

I wanna be a billionaire so [beeping] bad
Buy all of the things I never had
I wanna be on the cover of Forbes magazine
Smiling next to Oprah and the Queen
Oh every time I close my eyes
I see my name in shining lights
A different city every night oh I swear
The world better prepare
For when I’m a billionaire

Call me a pest, but after hearing them sing it many (many) times, I thought it might be a good chance to bring up the topic of money. Ronit and I believe that kids should be exposed to various topics at different ages simply because they are part of life. They may not “get it” every time, but they “get” a little bit more and develop their understanding over time. This way, they have fewer surprises when they become adults and have to take care of themselves.

The issue of money is no different.