Sabrina did not believe it when she overheard the school librarian talking about the days her grandfather had been so poor he used to walk 45 minutes to work to save the money required for a bus ticket. “He made all his money from the jar”, said the librarian to her friend. Sabrina thought he had made his money from building houses and was very surprised.
Read The Magic Money Jar »
I hope that by now you are convinced it is better for you to be a happy, wealthy parent and all you need is some knowledge about the way to get there. As strange as this seems, not all people want to be wealthy and, sure enough, they are not.
For many years, I have been writing about the quest for happiness and, as you may now, I believe that focusing on good is the best way to make it expand. However, there are (many) people who find negative examples more effective, so I am going to try some humor (taking a cue from my kids, who flattered me this month when I bought a funny birthday card and said I was developing my sense of humor) and talk a little bit about the dark side of life.
Read The Art of Misery »
Many people, when I talk to them about making money and being rich, come up with good “reasons” why they do not need to be rich. They tell themselves that rich people are sad, miserable, stingy and, most commonly, corrupt, and they do not want to be rich to avoid fitting these descriptions.
These beliefs were made up by poor people looking for ways to feel good about not having enough money or the skills to get it.
Read Rich Thoughts, Poor Thoughts »
Financial struggles can put a lot of strain on family life. When I talk to people about the challenges in their life, many of them say that shortage of money is the main source of their difficulties. In this new series, I am giving you tips on how to be richer, starting with why to be richer!
“We don’t spend enough time with the kids, because we have to go to work and earn money”, they say.
“We can’t give our kids what they need, because we don’t have enough money”, they complain.
“We can’t even take time off for proper vacations to rejuvenate, because there is just not enough money to fund them”, they are ashamed to admit.
“Our kids can’t engage in hobbies and extracurricular activities, because they are too expensive for our family budget”, they tell me in despair.
There are many other versions of the same challenge. If you have ever heard yourself saying any of them about your own family or if you have ever caught yourself thinking like this, then you are at the right place. If you have ever wondered if it is possible to have a family and be wealthy and happy at the same time, keep reading!
Believe it or not, arguing about money is one of three main causes of divorce. Difference in priorities are a main cause of arguments in marriage and when divorce is considered an option, it is more likely that the couple will waste much of their energy on their biggest argument ever about money.
Chances are that partners in marriage have their own ways of spending and saving money. They bring their perception about money from their life before the marriage and many of them find it hard to strike a balance between what he wants and what she want, between what she thinks it is best and what he thinks it is best for the family’s future.
Here are some of the common conflicts around money:
1. What is necessary (food, clothes, jewelry, big screen TV…)?
2. Who needs to contribute more money (many high expectation from men and sometimes too high expectation by men themselves)?
3. Should homemaking be considered equal to financial contribution (try hiring a nanny, a chef, a cleaner, etc)?
4. Should we save for the future or enjoy life today?
When getting married, it is hard for a couple to estimate what their financial requirements will be. Every time they face a financial challenge, it hits them straight in the face and many couples, having poor money management skills, feel that there is just never enough money for what they want in life. Financially, the difference between single life and married life are huge.
Yes, if both husband and wife earned similar salaries, agreed on every cent they spent and the ways to save, many of them would not consider divorce so easily. There is a slim chance for you both to agree on every financial decision. Therefore, in marriage, it is wise to choose your financial battles.
Read Marriage and Money »
Kids need to learn money management long before they leave home. When their friends have brand-name shoes or a computer game and your kid wants them too, understanding money is going to be very handy. So if you wonder when it is the right time to learn about money, my answer is: the minute your kid can count to 10.
Unfortunately, handling money is not something we learn at school. Just like many other life skills that we find necessary in adulthood, money management is also neglected while lots of energy is wasted on high levels of math.
Children can be taught at a young age that money is their way to get the things they want in life. It is, after all, your way of getting the things you want in life.
Here is how…
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