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Tag financial education

Who wants to think like a millionaire?

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They’ve got an aggregate wealth of $6.4 trillion. Forbes 500 richest people on the planet and at $76 billion Bill Gates is back on top.

What’s a few bucks between friends?

But when you read their bio’s, you might notice something.

Almost all of them made their fortune through business.

Did I mention there’s a bit of money to be made in beer?

And while some on them did, yes, inherit their millions, most of them are self-made men and women who simply had an idea. And did something about it.

Take Keiichiro Takahara. He made $3.5B out of nappies. Nappies full of **** you throw away! Couldn’t have done that in the days of cloth. Or the Mars duo. They have a combined wealth of $40B out of the humble lolly (and because we’re talking US dollars, AUD$ it’s even higher). Then there’s Mark Zuckerberg. He was probably wearing Takahara’s nappies when he made his $28.5B fortune with an idea about bringing people together. In case you haven’t heard, it’s called facebook.

But when you’re talking that much money, it really doesn’t matter, does it. What’s more important is an understanding that it can be done. And people, young and old, do it ALL the time.

I wonder how many of those businesses started as a great idea around the kitchen table? Or a thought kicked around over a game of pool? Or just something that popped into their head while catching a train? J.K. Rowling knows what I’m talking about. Or as Einstein said, he got his best ideas while shaving.

But what we don’t see on the list is the blood, sweat and tears, the guts and stamina, the determination and drive, the investment that it takes to pull something like this off. Not an overnight success, but sometimes years in the making. Persistence. Passion. Vision. Strategy. Single-mindedness. Wisdom.

And an entrepreneurial mindset.

But they didn’t do it alone. They knew when to ask for help.

Learn what you can.

Buy what you need.

Apply it all diligently.

It’s a winning formula.

What will YOU do with your next great idea?

“Money never starts an idea; it is the idea that starts the money.” – William J. Cameron

Programmed Poverty

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They get their claws in early. Programming our kids for a life of debt. Online games that get kids younger than 10 already in the mindset of shopping for stuff they don’t need, and on credit. The crime is it’s legal. And while the legal age for a real credit card is 18, they hand out virtual credit cards from the age a kid is old enough to read and work a mouse. And that’s the perfect age to programme them.

How about this game…

This young stylista feels like going shopping today, but there isn’t enough money in her wallet! She will have to work first, so how about giving her a helping hand? Play the “Gain Money For Shopping” skills and dress up game and help this cutie gain enough money to buy all those designer clothes and stylish accessories catching lovely flowers and yummy fruities falling from the sky. Good luck and have fun!

Bet you’re rushing to sign up. Tragedy is the kids are. And there’s another one that’s caused a stir in the office. This one hands out credit cards to kids with budgets of almost $1000 to blow on.. yes wait for it… more designer clothes! Not a down payment on an investment property. That would be too smart. One of the mums in our office freaked when she saw what her kids were playing. And the filters don’t stop this online threat from reaching our kids. In fact they allow it. And while the games don’t even resemble real life for most people, they easily succeed in brainwashing a young mind into a lifetime of debt and misery.

And because most parents are similarly programmed, they hardly even notice what their kids are playing. Or what they’re learning.

What if instead we taught our kids about the importance of business skills? Of investing. Of growing passive income.  And we made it fun. If you don’t have a family business, you could create one, even if it’s just on paper. Spending a bit more quality time with them playing the game of money. Perhaps that is the type of homework our kids should be doing. So much more relevant to the real world ahead of them than some of the homework they get now. True survival skills.

I often wonder how many lives could be made happier with a good financial education? How much happier we would all be with a sense of financial control. Understanding how to make money work for us instead of selling our soul for money just to survive. But if we are to teach our kids something different it starts with us. In order to teach our children, we need to learn something different for ourselves.

How much do you know about getting money to work for you?

What about your business skills?

How will you develop your own financial intelligence to create a better future for your kids?