The rich minded parents always treat and grow their children differently. Rich parents always teach their children those qualities which help their children become rich and live a happy and prosperous life. In a study, it was found that 90% rich people are born to rich minded parents. In this article, I will be teaching you some lessons that rich parents teach their children.
8 lessons rich parents teach their kids right from their childhood:
1. How money works:
Rich parents always tell their children how much they earn and how much they spend. Whenever rich parents make financial decisions; they include their children with them so that they can learn and grow. On the other hand, poor or middle-class parents never reveal their income to their children and tell them to focus on studies and get good grades.
Watch this video to see how money works:
2. Difference between assets and liabilities:
The poor do not know the difference between assets and liabilities and that’s why they remain poor all their life. The rich know the difference between the two and teach their children accordingly. The simple difference between the two is that assets put money in your pocket and liabilities take money out of your pocket. To know more about assets and liabilities; I suggest you to read the book ‘RICH DAD POOR DAD.’
Watch this video that summarizes ‘Rich Dad Poor Dad’: