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Top 3 Lies We Teach Our Kids About Money

Is the way we speak and think about money harming our children? Whether we realize it or not, we’re constantly teaching kids what to believe about money, themselves, and the world.  We do this with our own actions, words, and behaviors around money.  Personally, what I learned about money growing up as a kid was mostly wrong.  Why? I adopted my parent’s antiquated money mindset.  

Are you doing the same to your kids? Let’s check!  These are the top 3 lies parents teach their kids about money….

#1 – “We Can’t Afford It”

Kids hear this all the time! Parents love using this phrase but telling your kids you can’t afford it is basically saying  “We’re poor, we’re not one of them, and you’re not going to be”.  

When I was growing up, I heard “We can’t afford it” so much that I began to believe I could never be “one of them” – one of the rich kids. Essentially, it built a belief that low or moderate income was my place.  It took me decades to break that in order to be successful. 

Yes, this may be somewhat true – but not fully true.  Let’s say little Chris wants some Jordan sneakers that cost $125 – this is clearly not in your budget and you don’t see why anyone needs to pay $130 for sneakers a kid will outgrow in a couple of months.  So you brush it off and say “We can’t afford it”.  Let’s be honest, if little Chris needed an asthma pump that costs the same price, you would afford it.  You would find a way to afford it!  So perhaps the statement should be “Jordans are not a priority at the moment”  

#2 – Money Brings Problems

First off, don’t ever say this to your kids.  Just don’t.  Money doesn’t bring problems.  The humans dealing the money are making problems, so let’s that sh*t straight.  Money is an inanimate object and people bring emotions to it. Period. 

Perfect example: You and your wife have an argument about money in front of the kids.  This is subconsciously teaching them that money creates problems rather than peace.  They won’t want to make money because they’ve seen it create problems firsthand. 

#3 – “Work Hard For Your Money”

This is bullshit. Yup, I said it.  Do NOT teach your kids this lie.

When I was a kid I watched my dad work two jobs. He would come home every night and only get about 4 hours of sleep at times. He worked really damn hard and yet, he didn’t make much money. How surprising!  Why? Because working “hard” doesn’t equate to being rich.  There are plenty of people that work hard every single day and still don’t make enough.  

Instead of telling your children that they need to work hard, tell them they need to think smart, take action, and believe that they can and will make money.

Begin listening to what you’re teaching your children about abundance so that they don’t grow up with limiting belief systems.  And while you’re at it, start realizing what negative belief systems YOU have about money 😉 

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  1. Good post. I learn something totally new and challenging on blogs I stumbleupon every day. It will always be interesting to read through articles from other writers and use a little something from other sites.

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