LESSONS TO TEACH YOUR CHILDREN

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Have a Plan: Write down where you want to be in 6 months or 1 year from now and track your progress. 

Get Up Early: Start on goals early, have a HW assignment? Start the day it is assigned, not the day before.

Be Tenacious: Never give up, keep taking steps forward, weather its 1 step or 10, just keep moving.

I found this example the easiest way to explain the difference of  need and want, to my son.  When you are hungry, it is good to have a good healthy lunch because that is what you need.  An example of what you want is to order a dessert because you still shouldn't still be hungry.

The best investment you can make is in educating yourself, why is that?  Because no matter what happens at work or in business you can carry those skills with you to your next opportunity.  You will never lose knowledge or experience.

If you make $100 a week, save at least $10 of it to invest or put in a savings account and the remainder for bills and fun.  Keep track of your money and if you see you are spending more than you make, then get a new job or cut your expenses.  It gets easier as you earn more money, unfortunately most people who make more money start to spend more, there is nothing wrong with spending more but you should also be saving more. Take that increase in salary and at the minum add half of that increase to your savings/investments.

If you have your health, are contributing to society and have some good friends and family that loves you, be grateful because you have everything you need to be happy in life.  Remember, "Happiness is wanting what you already have".

 The man who makes no mistakes does not usually make anything.  

 Failure, disappointment and discomfort are great learning tools .

The faster you are able to save $100,000 the faster and easier you will become a millionaire.  For example, buy an econimical car and put some money towards your savings/investments, instead of buying that new car which is a depreciating asset. It is also one of the biggest reasons you will not become wealthy.

Question everything you spend your money on, will it help you grow your money or will you lose money on it?  Not everything you spend money on should grow but you should try to minimize losing money.

Have an emergency fund for thos unexpected expenses, once you've done that then just smile, work hard, invest and enjoy life :)