Recently, my son and I were asked to take care of our neighbors dogs while they went on vacation. My son was diligent about going over every day at the same time to feed the dogs. He was proud of his responsibility and worked enthusiastically to make sure the dogs were fed and well taken care of.
When our neighbors returned from their vacation, they brought my son a $20.00 bill to pay him for taking care of their dogs. When my son took the bill, he looked at it and examined it thoroughly. He did not believe it was money and was more fascinated with the writing and pictures on the bill.
I use this story to illustrate the innocence and naivety of children with money. From a very young age, kids have no idea about the concept of money and how money works. It’s not until they are older that they realize the importance and necessity for money. Kids do not naturally learn or pick up concepts about money. It’s a concept that is taught. They need someone of influence to teach them about the importance of money.
If you are a parent or grandparent, take some time with your kids and grandkids and teach them the importance of money. Teaching them these valuable lessons will prove to be invaluable for their future. If you would like to learn more about how to protect your own wealth and the wealth for future generations, please contact us!