The difference between the type of information rich and poor parents feed their children
I grew up in a society where children are contended with simply being average, they do not desire any atom of success more than the height their parents have gotten to and that is the way their minds have been channelled they are simply contented with being average simply because their parents have thought them not to desire anything more in life than their parents have, the information the rich feed their children about finance is surely different from the poor. The question is, what is it that the rich teach their children about finance that the poor fail to do?
Rich kids from a young age are usually feed with information’s pertaining to the relevance of money, their parents tell them about they need money to live a good life and they remain concerned about their finance all the time but poor kids are usually feed with the information that money is not important in life and this makes the poor kids contended with just making enough for the day.
Truly rich parents take it as a duty to educate their children about the difference between an asset and a liability, the wealthy parents are concerned about how they can constantly increase their wealth so they stay away from liabilities they cannot afford currently but the poor love to live life to show their peers how well they are doing and in the long run spend majorly on liabilities. Poor parents even go to the extent of telling their children about how the rich do not know how to enjoy life.
Do not get me wrong, the rich also knows how to enjoy their money properly but what makes them different is they use the money generated from their asset to live the luxurious lives they desire while the poor spend all they have or even get into debt in order to live in luxury.
Depending on the type of mind-set we have, it is very possible for someone who comes from a poor home to also make wealth, all that is required is a great mind-set, I have previously heard stories of two people who work in the same company and earn the same amount and while one person eventually gets rich the other person keeps working for years and has nothing to show for it, it all boils down to being a disciplined person and having a great mind set.