Sometimes my mind wanders. Sometimes it is a pleasant daydream reliving good times, thinking about my kids or designing a new and exciting project. Other times it is not so pleasant. I start thinking about the future and the world we are leaving for our grandchildren and it scares the hell out of me.
The generations after us need to recover from the damage we have done to this planet. They need to face a growing population that is overloading the globe, develop ways to deal with the extraordinary amount of waste we generate, and manage the impending food crisis. Future generations will need to protect animals from extinction and farmland from destruction so that simple basic needs can be met and the world continues to turn. They need to be able to create new technology and drive scientific discovery to accommodate new problems, requirements and threats that have not even surfaced yet.
Sound a bit gloomy? Hopefully the reality is nothing like that and our worries were the same as our ancestors but simple maths and ratios show that the population is growing at a rate not compatible with the capabilities of the planet. I am sure I am not alone in wanting the best possible chance for my children and their children?
Our governments are limited in what they can provide and already people are working way into their 70’s and beyond. Gone are the days of retirement and a gold watch at 55! There are many things we cannot impact as a solo crusader. There are causes we can fight for and the more of us that can fight for them, the better and more effective it will be. All these campaigns cost money. Purely living costs money. There is no way out of the fact that to be a human on this planet in this day and age is expensive. I figure I can’t change the world but I can help those around me and arm my children with the skills required to protect themselves and fight for what they believe in. I can give them the skills to create wealth that will allow them to help those around them and make a difference to their world. Our children deserve the best possible chance and a solid financial base is a critical part of that.
What messages do we send to those around us about money? Forget kids for a minute, how do WE feel about money? Do we live with an abundance mentality or do we feel unworthy of wealth? Is money a taboo subject? Are we living with old programming from childhood thinking money is scarce or evil, or that money changes people? Does it have to? Can’t we put our wealth to good use? I’m sure we could find a way to do that. Whatever we think, rest assured that our thinking is impacting our children.
In their book, Real Money Advice for Your Kids, Analaura and Wilson Luna say that having a financial plan is critical and even though money doesn’t grow on trees, it can grow. They say kids with a millionaire mindset will know what it is they want to achieve, be focused, watch and learn from successful people, be consistent and learn for life. All great general traits for success in anyone’s language! The authors also encourage giving back to the community which is number one in my book for encouraging gratitude and generosity. Just watch the head switch in a troubled teenager who gets involved helping others. Truly remarkable.
Money management is as much about mindset and discipline as it is about numbers and bank accounts. Surely if we encourage our young people to approach financial literacy with a mindset of responsibility, strength and solid goal setting then these values would trickle over into other areas of their lives. Showing our kids that they are worthy of wealth and giving them the tools to learn about and create stable income streams can only be a good thing.
There are so many things in this world to be frightened of and so many things to be grateful for. I am determined to make money one of the grateful things rather than one of the scary things for my kids. I am sure it will be a challenging process but we will learn and grow together. I still may drift off on a daydream from time to time but at least I should be able to sleep a little easier.