I have had the opportunity to travel and talk to high school and college students about exactly what it takes to be financially successful. In these conversations I always ask the following three questions related to poverty habits:
1. How many of you want to have a life full of financial success?
2. How many of you think you are going to be financially successful?
Almost always when I ask these two questions, most of the students raise their hands. That’s when I ask the magic question:
3. How many of you have taken a course on how to be financially successful in school?
No one has ever raised their hand. Clearly all students want to be successful and believe they can be, but none have received any kind of education in this regard, either from their parents or from the educational system.
Furthermore, there are no courses that teach the basic principles; neither are structured courses on financial literature. We are raising children to be financially illiterate and to fail in life.
Does it surprise you that most people live from day to day waiting for the next payment? Do you think it’s strange that most people accumulate more debt than assets? Do you find it curious that most people have such a hard time paying college tuition and that student loans are currently the largest type of consumer debt?
What’s worse is that children are learning from the education system, politicians and the media. They have also been taught that the rich are corrupt and greedy, that they have too much wealth and that it must be redistributed.
What message do you think we are sending to future generations? They are being taught that seeking financial success is a bad thing.
You will find below some statistics from the study that I carried out for 5 years about the habits of the rich, which separates them from the poor.
Habits of poverty that you teach your children without realizing it.
1. 72% of the rich know exactly their finances compared to 5% of the poor.
two. 6% of the rich play the lottery compared to 77% of the poor.
3. 80% of the rich are focused on at least one objective compared to 12% of the poor.
Four. 21% of the rich are overweight, compared to 66% of the poor.
5. 63% of the rich invest a maximum of 1 hour a day in the recreational use of the Internet compared to 74% of the poor.
6. 83% of the rich attend school events with their children compared to 13% of the poor.
7. 63% of the rich read or listen to audio books on their way to the office compared to 5% of the poor.
8. 67% of the rich watch less than 1 hour of television a day compared to 23% of the poor.
9. 9% of the rich watch reality shows compared to 78% of the poor.
10. 73% of the rich were taught the 80/20 rule vs. 5% of the poor (Live on 80%, save 20%)
eleven. 79% of the rich network 5 hours or more per month compared to 16% of the poor.
12. 8% of the rich believe that wealth comes from luck or chance compared to 79% of the poor.
13. 79% of the rich consider themselves responsible for their financial circumstances, while 82% of the poor believe they are victims and not responsible for poverty.
Before looking at the relationship between parents and poverty habits, we would like to ask you a favor. Simply vote from 1 to 5, to see how you have found this article so far. Thank you!
What do parents have to do with poverty habits?
The fact is that the poor are poor because they have many bad habits. The best parents teach their children to think of success, while bad parents teach habits of poverty that keep them from wealth.
There is no wealth gap, there is a gap between parents. We don’t have wealth inequality, we have parent inequality.
Also, both parents and schools need to work together to teach children good habits. There are specific habits and below you will find some examples:
What can you teach them to correct the habits of poverty?
1. Set TV, social media, video game, and phone limits. Reduce the time to a maximum of one hour a day.
two. Have them read a book weekly and write a summary to review.
3. Get them to do aerobic exercise for 20 to 30 minutes a day.
Four. Limit your junk food intake to less than 300 calories a day.
5. Encourage them to dream and pursue their dreams.
6. Teach them to set long-term goals.
7. For those of working age, have them volunteer at least 10 hours a week.
8. Teach them to save 25% of what they receive to eat at school or money gifts they receive on birthdays.
9. Teach them the importance of calling family, friends, and teachers on special dates.
More tips…
10. Show them that making mistakes is not bad. They need to understand that the main structure of success is built through the lessons of our mistakes.
eleven. Discipline children when they make scandals. It is important that they understand the consequences of not controlling their emotions. Anger is one of the costliest emotions. It gets people fired, divorces couples, and destroys relationships.
12. Teach them that pursuing financial success is a good thing.
13. Children need to know how to manage money. Open a savings account for them and teach them that they can’t have everything they want just for asking. If they want it too much they can use their savings. Additionally, it will teach them that they must work to obtain what they want.
14. Require them to participate in at least one extracurricular activity (Non-sports related) at school or outside of school.
fifteen. Parents and children should put everything aside at least one hour a day just to talk. No Facebook, no phone, just face to face. That is the only quality time you will have with your children.
16. Teach them how to manage their time. Show them how to create a to-do list and help them stick to it daily.
Do you want to know which of these tips will be applied by others? You just have to click on “BEGIN” and slide the images with the tips that you would YES apply to the right, and those that you would NOT apply to the left.
This is a swiper quiz, swipe right for yes, swipe left for no.
Set limits of television, social networks and others to less than 1 hour a day. 1/9
Teach them the importance of calling family and friends. 2/9
Parents and children should put everything aside at least one hour a day just to talk. 3/9
Show them how to create a to-do list. 4/9
Teach them to save 25% of their allowance. 5/9
Teach them that pursuing financial success is a good thing. 6/9
Limit junk food consumption to less than 300 calories a day. 7/9
Have them read a weekly book. 8/9
Teach them to set long-term goals. 9/9
results
338 136
362 112
376 98
374 100
372 102
379 95
369 105
356 118
372 102
Are all these recommendations necessary?
Obviously it is very complex to follow all these recommendations. Through my research, I learned that just taking one or two of these habits will completely transform your life.
In conclusion, the single habit of reading can boost the success of your child. The saving habit can help them find financial independence. The habit of exercising will give you the possibility of a long and healthy life.
Choose only 2 habits and follow up for 6 months. After 6 months poverty habits will be a thing of the past.
And remember, if you are really interested in creating your own business and want to find more information on this subject, buy our book “How to create a company while you work. Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
This article was originally published on richhabits.net. Its translation and publication in ModoEmprendedor has been authorized directly by the author and cannot be reproduced by any other means.
