Redeem your children from financial slavery A primary issue affecting many people all over the world is poverty inflicted by mental slavery. My fellow parents must redeem themselves, and by extension their children, from poverty by creating and sustaining wealth. Musician Bob Marley said,emancipate yourself from mental slavery. I have proposed in many previous articles that parents should teach children wealth lessons. This is because I believe these lessons are first transmuted passively through parent-to-child dependence and play the biggest role in their financial wellness when they eventually become independent. Most parents were brought up by poor parents in their formative years. They lived in poverty stricken backgrounds that reinforced poverty mindsets prevalent in such situations - just like fingerprints. Growing up without solid financial habits from these primary influencers is a sure way to start out with deposits of poor behaviour in the mind. Upon receiving a commencement income, the young one immediately starts to develop earning, investing, spending, saving and borrowing patterns from mental imprints. For most people from poor families, past debts such as money parents borrowed to pay their school fees and the responsibility of paying for the education of their siblings become the first line of responsibility. The issue is not the fact that these bills exist, but rather that the kind of choices people make towards applying their little income to settle the bills are emotional rather than logical, and informed by poverty-sustaining family beliefs and values. Having been ushered into a new world of making decisions and using a faulty operating manual imprinted in their subconscious by parents, key decisions like starting small investments with the first income take a back seat to give way to social consumption that form the family poverty legacy. Parents need to develop new wealth beliefs, values and attitudes. This would form a new.........
Posted on: Wed, 24 Dec 2014 19:46:14 +0000