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Could your child become a millionaire?

My son is a millionaire.

The other day, I told my son that he could be a millionaire by the time he’s 25. He thought about it for a second and then he agreed. You should’ve seen the smile that spread across his face.

That’s because he has a lot more confidence about his money potential than I had at his age. Thank goodness for that. I refuse to project my old money story on to him. As far as he is concerned there’s plenty of money available to him…and he’s right.

Today, my son is 12 years old and he goes into the bank weekly by himself and deposits money. Sometimes it’s just $5, sometimes $20, sometimes more.  It doesn’t matter how much, what counts his HABIT of saving.

So how do you cultivate a positive money mindset in your kids? Start by talking to them about money in an affirmative way. Tell them they can and will be RICH and what that means. Talk about how rich they already are!

Avoid talking about money from a place of lack… saying things like “we can’t afford it,” or “money doesn’t grow on trees,” etc. Don’t make them feel shame or guilt about money even if you have not yet manifested the money abundance you desire. Instead, plant good seeds about money starting today. Start a savings or investment account for them. I don’t care if they are 9 or 29, it’s never too late! Now days you can start with as little as $5.

Get your children excited about saving and setting money goals. Cultivate a mindset of gratitude for all they have. Purchase a wallet for them. If they are entrepreneurial or have a special talent, help them start a business. When you do this, even as you expand your own money mindset, your children will most certainly have the potential to become young millionaires…now imagine how THAT would change the family money legacy.

FEEL FREE TO SHARE THIS!  JUST BE SURE TO ADD THIS BLURB: Monique is an award-winning TV & Radio personality, a Money, Lifestyle & Influence Expert and a certified coach.  Using her nearly two decades as a producer and on-air personality and 10 years as an entrepreneur, she specializes in transforming the way women leaders create wealth, happiness and success.  Visit her website at www.MoniqueCaradine.com  

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