As a parent, I’ve always believed that education extends far beyond the walls of a traditional classroom. This belief has been a driving force behind our decision to homeschool our 7-year-old son, giving him the freedom to learn in ways that suit his interests and needs. One area that Mahal and I are particularly passionate about introducing to his curriculum is financial literacy. In today’s ever-changing world, the importance of understanding money, saving, and investing cannot be overstated. I grew up with a poverty mindset… that feeling that we’re always lacking… that belief that I’m not worthy of the good kind of life… and it took years of reading self-help books, and wealth-related books, and listening to Oprah and Tony Robbins before I was able to fairly say I that I’ve somehow overcome my poverty mindset and started my journey towards abundance. I want Tuz to have the right kind of thinking when it comes to money and wealth so that he will be able to live a more abundant, rich, and fulfilling life.

So just recently, I embarked on a unique journey with my young scholar, as we delved into the world of personal finance through the book, ‘The Rules of Wealth’ by Richard Templar. I was excited to see how my son would respond to this grown-up topic, but I also knew that we had to make it accessible and engaging. To accomplish this, and because he loves to read everything he can read, I decided to have him read and explain to me the first ten rules of wealth from Templar’s book. This wasn’t planned at all. I am independently homeschooling him so we don’t have a very strict curriculum. But he is tasked to finish 15 workbooks and/or activities every weekday + 1 hour of internet on the phone and 3 hours of internet on his computer (watching educational videos, playing Roblox, playing online games, learning about coding, watching Youtube videos of his favorite shows, etc). There are times he finishes all his activities for the week even before Friday which was what happened here. So I had to quickly think of other activities to give him. We are usually on US Time Zone so going out for an outdoor activity at dawn here in the Philippines is out of the question… Then, I just suddenly thought of finally introducing him to my books. I have a ton of self-help, success, motivation, and money-related books in our cloffice especially after our recent Big Bad Wolf adventure, and I just decided right then and there to have him read the first 10 rules of wealth in Richard Templar’s book, The Rules of Wealth. He immediately obliged and I left him to read. Once he’s done, I just asked him questions to see his level of understanding about what he just read. This is my way of putting in his RAS (Reticular Activation System) or at least introducing into his consciousness topics about finances, money, and wealth. 🙂

I candidly recorded the whole thing. This is the raw video of it:

Rule #1: Anybody Can Be Wealthy

We started with the first rule, “Anybody Can Be Wealthy.” My son was intrigued by the notion that wealth isn’t reserved for a select few; it’s attainable for anyone with the right mindset and knowledge. He felt inspired to learn more.

Rule #2: Decide on Your Definition of Wealth

The second rule, “Decide on Your Definition of Wealth,” was a thought-provoking one. We discussed how wealth means different things to different people, and my son started thinking about what it meant to him personally.

Rule #3: Set Your Objectives

Rule number three, “Set Your Objectives,” made him realize that achieving wealth requires a plan. We brainstormed some objectives he could set for his future financial goals, like saving for a new toy or a special vacation.

Rule #4: Keep It Under Your Hat

The fourth rule, “Keep It Under Your Hat,” taught him the importance of not bragging about one’s financial success and understanding the value of privacy when it comes to money.

Rule #5: Most People Are Too Lazy to Be Wealthy

Rule number five, “Most People Are Too Lazy to Be Wealthy,” sparked a conversation about the importance of hard work and dedication in achieving financial success. My son even saw how this connected to his own efforts in school.

Rule #6: Get a Reality Check

We discussed rule number six, “Get a Reality Check,” and he realized the importance of evaluating one’s current financial situation to make realistic plans for the future.

Rule #7: Understand Your Money Beliefs and Where They Come From

The seventh rule, “Understand Your Money Beliefs and Where They Come From,” led to a meaningful discussion about the influence of our beliefs on how we handle money.

Rule #8: Understand That Wealth Is a Consequence, Not a Reward

Exploring rule number eight, “Understand That Wealth Is a Consequence, Not a Reward,” opened his eyes to the idea that wealth is a result of certain actions and decisions, not just luck.

Rule #9: Decide What You Want Money For

We delved into rule number nine, “Decide What You Want Money For,” and he started thinking about the purposes of money, whether it’s for security, experiences, or helping others.

Rule #10: Understand That Money Begets Money

Lastly, we discussed rule number ten, “Understand That Money Begets Money.” He realized that wise investments and saving can lead to financial growth over time.

MY TAKEAWAY

Our journey through the first ten rules of wealth from Richard Templar’s book was an enriching experience for both of us. Though he may have answered “I don’t know” to some of my questions, still, my 7 year old son not only grasped the fundamental principles of financial literacy but also saw how they related to his life and future aspirations. This adventure taught him the value of hard work, planning, and understanding money as a tool to achieve his dreams.

As our homeschooling journey continues, I’m excited to explore more aspects of financial education with my son as well as topics about success and motivation. We’ll delve deeper into these rules and introduce new concepts that will prepare him for a financially savvy and successful future. In a world where financial literacy is crucial, I am determined to equip him with the knowledge and skills to navigate the complexities of money confidently and responsibly. Together, we’re embarking on a journey that promises to be as rewarding as it is enlightening.

How about you? Do you have young kids? Do you want to start introducing these grown-up topics to them too?