Smart Money Parenting Mirror the Environment that Your Children Will Mature Into
How can you prepare your kids for the real world after leaving the nest? In today's episode, hosts Scott Donnell and Chad Willardson discuss why you must create a home environment similar to what your kids will find in the real world.
- Scott starts the conversation by describing when and how parents should start preparing their kids for the real world.
- Chad reveals the most important lesson he learned growing up.
- As a parent, your kids need to know that play never comes before work. We work first, and the rewards come later.
- For Scott, the worst thing you could ever do as a parent is to raise your kids in a bubble.
- Scott and Chad explore ways parents can create a home economy that mirrors the real world.
- Give your kids love and show them that you care, but don't protect them from struggle and sacrifice.
- Scott and Chad agree that we need to raise kids two years older than they are. Teach them the future and give them responsibility earlier than what society says their age deserves.
- Scott describes how mimicking the environment of the real world at home will do your kids a lot of good in the future.
- According to Scott, you're not loving your kids more by cuddling and pampering them. You're just preparing them for shock and failure once they leave the nest.
- For Scott, your kids will become entitled when they get whatever they want without working for it.
- Shockingly, 80 to 90% of parents never make their kids pay for anything. According to Scott, kids need to start covering some of their expenses from age six to eight.
Mentioned in This Episode:
What's in It for Them?: 9 Genius Networking Principles to Get What You Want by Helping Others Get What They Want by Joe Polish
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell