I think I was very lucky as a child of primary school age. I can remember sitting up in the Headmasters office (no, I hadn’t been naughty) counting the dinner money under his guidance.
My parents were my main guides where finances were concerned and their attitude helped me build a healthy respect for it. Yet in my youth, personal experiences left a bruised area in my emotional makeup, which I have uncovered in recent years, developed into a compounded fear of lack (I wish it had developed into a lack of fear!). Although I would like to say, that the combined experiences have constructively developed within, an understanding of its value in my life.
Travelling through Australia on a road-trip from Darwin to Sydney. We discovered the ideal location to encourage our children to step out of themselves and step into some financial learning, literally on our doorstep each day.
When you travel out of tourist season,(note the rain in Coloundra above) there opens up before, you an opportunity to negotiate room rates (try in season as well, its always worth asking “Can you accommodate us at a better rate,”) our secret weapon-our children, who in turn were developing the ability to negotiate.
For our daughter who needs more time to warm to people, it was a challenging task, but one with constant support and encouragement she was able to grow through, especially in Bryon Bay – one of the most magnificent places I have ever stayed in the world – where she negotiated a great deal on the apartment shown below, when we stayed at The Crest, only a couple of minutes walk from town. Gradually building stepping stones in confidence, approaching different individuals at the tender age of 11 and on a daily basis. A very courageous act, we thought.
For our Son, a little older and bolder at 13, it enabled him to develop the negotiating skills, which he now uses in building his own business as a FreeRunner at 20.
For us as parents, we were able to consciously impart the skills needed to allow our children to gain financial acumen at a young age, which in turn will build, develop, stretch and grow through their lives.
Take a look at the post on the blog raising miro to discover how someone else earns a living and learns about finances on the road. I found it very enlightening and thought provoking when considering the issue of trust.
What financial lessons would you like to teach your kids?