Money Mindset

It had been a while since I last wrote my blog. Today I am here to share with you about the words we parents use that can influence the children money mindset or we money blueprint. I learn this from my guru called T. Harv Eker.

What is a money blueprint?

This is defined by T. Harv Eker in his book called “The Secrets of Millionaire Mind” - as your preset program or way of being in relation to money. This is like a plan or design to your particular home. It is the programming of our past in relation to money.

Our financial blueprint consists of a combination of your thoughts, feelings, and action in relation to money.

WEALTH PRINCIPLE:

Thoughts lead to feelings

Feelings lead to actions

Actions lead to results

How our money blueprint is formed?

All these are formed through the information we received as a young child. Let us take a look at our own childhood experiences, how our parents taught us how to deal with money.

Every one of us was taught how to think and act in relation to money. Where did this information about money come about? It comes form our parents, friends, authority figures, teachers, religious leaders, media and our culture.

Do you agree that different cultures have different way of thinking and different approach with money? Do you remember what did your parents teach you about money when we were young? All these teachings become our conditioning.

What did we hear about money, wealth and rich people when we were growing up?

Do you remember these phrases like money is the root of all evil, money doesn’t grow on trees; money doesn’t buy happiness, the rich get richer and the poor get poorer, save your money for rainy days, money is hard to come by, must work hard for money?

All these phrases will be in our subconscious mind and it will remain in our file throughout our entire life unless we do something about it. Our teenager’s money beliefs come from all this conditioning.

Our subconscious conditioning controls our thinking. Our thinking determines our decisions and our decision determine our actions which will eventually determine our outcomes.

We have been subconsciously programmed from young with limiting beliefs that are working against us. Do you know that our subconscious mind determines your behavior and the results we are getting out?

Now we know that our teenagers have these limiting money beliefs and we must reprogrammed our teenagers financial blueprint or money mindset.

The next round I am going to discuss how do we going to reprogram our teenagers mindset.

Your money teen buddy
Christina
www.realsmarteens.com

Lessons I Learnt From T. Harv Eker, "Secrets Of The Millionaire Mind"

This week I was in a seminar and was listening to this great guru from USA, T. Harv Eker the author of the best selling books, “Secrets of the Millionaire Mind”.

He is an awesome speaker and trainer with high energy. T Harv Eker came from a childhood where money was scarce throughout his childhood. He was a self made millionaire by the age of 30. Now he is a multi, multi, multi, multi, multi, multi, multi millionaire.

I learned a lot more about money from his seminar that day. I just wanted to share what I have learned so that we can share our thought and belief so that we can teach our children to manage their money habits.

What I learned that day was why we must understand our roots of money which is very important. Our parents teach us that money is the root of all evil. I am sure most of us have heard this saying before. Does it mean that all of us have the same parents?

As a parent, we must teach our children that our roots are very important. How does this affect our money habits?

If a red apple tree does not have strong roots and we never fertilize it well, what kind of fruits does it bear? The fruits could be small and sour.

This is the same thing if we do not educate good money habits to our children from young. What money habits do you think they have when they grow up? Our children are going to have bad money habits if do not educate them young.

Do you agree that we must focus to build a good money habits roots to our children NOW? But as parents we tend to forget that the roots are very important.

Like what T. Harv Eker taught in his seminar, we tend to focus on the fruits but we forget our roots. We must set the root right then the trunk which then bear us good and abundance fruits.

So parents let us remember that we must nurture the money habit tree in our children now. We want to have good nurturing fruits to come to the world.

Let’s plant a good seed in them. So what we say to them is very important. In my next blog I am going to share with you the words we say to our children that affect their thoughts. How this thought is going to create result of their money habits?

Your teen buddy

Christina

http://www.realsmarteens.com

www.ChristinaHue.com

Is Money A Necessity?

Have we ask ourselves this question; how much money does one need?

Money is always and has been a big deal in our society. It buys us what we need and what we want. It defines who we are.

Most teenagers depend primarily on their parents for support in terms of their house, food and even clothes. No matter where your money comes from, it’s a necessity need to get through the day.

It’s easy to overlook how much you spend during an ordinary day on things you don’t even think about – a can of coke, bus fare, and food. Little things add up; if you think about it you might find that you spend more than you realize.

We the teenagers occasionally think about what it would be like to move out of Mom & Dad house and get a place of our own. Wouldn’t it be great! A little apartment somewhere far from your parents place with nobody tell us what to do, to clean up our room and what time we need to be home and best of all to what we want.

Maybe life on our own is fantastic but it would be super expensive. What are the expenses we will incur if we support ourselves?

RENT - Take a look at the classified advertisement in the newspaper and find the section that lists properties (house & apartment) for rent. You will read something such as “2R 1 bath apt fully furnished for rent. Rental – $700.” Sounds cool, right. You can look for somewhere cheaper and but the place might not be so desirable.

FURNITURE - Assuming you wouldn’t want to rent with a fully furnished apartment. You‘ll need a furniture. Like a sofa, couple of chairs, a coffee table and maybe a TV. Of course you need a bed. All this will cost a thousand dollars. Fortunately there are a lot of used shops so you can get everything for maybe a Thousand.

PHONE & CABLE TV –Unless you want to walk to a pay phone, you need a telephone or a handphone. Cable TV is great but expensive. Figure about $50 a month for a basic package plus $100 to install it.

Electricity and water- Usually this is not included in the rent, we need to add this cost of living.

OTHER STUFF –Sheets and blankets for the bed, towels, a couple of lamps, dishes to eat from, silverware, pots and pans, some glasses, toilet paper, toothpaste… you need a lot of stuff and it will cost money.

These are only some of the cost if you live on your own. There are other important to think about like food, clothing, entertainment, etc.

Now, think about it and ask ourselves does it cost us a lot if we live on our own?

Your teen financial consultant

Christina

www.realsmarteens.com

The Importance of Financial Education

Education is not restricted to school. Reading and training are part of your education. Set your mind to making money and you will succeed. Right now you have no idea how much money you will make in your life so don’t put any limitations on it. Get into the habit of building a positive image about money,

It may seem a silly thing to do but the results may impress you. Thoughts are things put them to use for you. Think good thoughts and good things will happen

Recently I read a very interesting book from two famous authors; Donald J. Trump and Robert Kiyosaki called Why We Want You to Be Rich. Both of these gurus feel that lack of financial education is the cause of the world economic problem.

In this book he shares about vision that most people never see. Both of them share what they think and why they think the way they do, through their eyes you will gain additional insight how one can improve your financial future.

Your education fund is the first priority in your goal setting we want to give you a tip on how to make it grow. Once you have set up an account with either your local bank you need to plan how to put money into it.

One of the best ways is make deals with your parents. Tell them college is a big dream of yours and that each month you are going to put $20 into your account. Ask them to match it. Your parents will like that you are helping pay for your education and it shows that you are willing to work for it, suddenly you are getting twice as much money and your account is growing faster than it otherwise.

In the first year you will put $400 into your account and with interest you could have saved over $500 at the end of the year.

Financial education is very important to everyone who wants to seek a better life at a time when we all need to be financially equipped for the future we face.

Your Teen Buddy
Christina

www.RealSmarTeens.com

The power of money

I was watching this movie on television the other day about this man who does whatever it takes to get money. To him money is power. He killed his own brother and even his wife to get what he wanted. This man didn’t allow anything or anyone to stop him.

Money is a source of power and status. People who make a lot of money also have a lot of money to spend. We always considered this to be a powerful people. A lot of money allows people to control other people as well.

Do we as parents realize that at an early age that kids recognize that having money to spend provides them with a feeling of power? It allows them to take control of a situation.

Teens learn this feeling of power from adults when they observe parents showing off their purchases or talking to neighbours about their new BMW. Teens quickly associate money with success and power.

Who are the most powerful people in the world? Bill Gates? President George Bush? Take a look at the well respected business magazine, Forbes. Each year Forbes releases a list of Top CEOs: Corporate Most Powerful People. The list is based on how much money each CEO makes during the preceding year.

Do you know that not all powerful people are rich; some have been very poor. Like our dear Mother Theresa, the nun who worked tirelessly to care for the world’s poorest and most desperate people. She did all these as it came from her courage and conviction and most importantly from the love of her heart.

So does money and power goes hand in hand? Is money powerful? What do we want to tell our teens? Let’s give a good thought about this.

Your teen buddy
Christina
www.RealSmarTeens.com

Want & Need

During one of our recent camp our students were taught the topic about Want & Need. All of them were enlightened after our camp as they know what are their want and need.

What is a Need?
In Wikipedia it is define as “A need is the psychological feature that arouses an organism to action toward a goal and the reason for the action, giving purpose and direction to behavior” . To put it simply a need is something that you have to have.

What is a Want?

This is how it is defined in Wikipedia, “A want is something desired, distinct from a need which is something that is necessary”. A Want is something that you would like to have.

Most teenagers spend their money on things that they want rather than on things they need. This is because we as the parents have been providing their basic needs for them. Today teens do not have to worry about most their needs and they probably get a lot of help in their wants too.

When our basic needs are satisfied, we tend to escalate wants into needs. For example if we haven’t had a meal for three days because you have no money to buy food, you absolutely know that a food is a need and the latest CD isn’t. But if we get food everyday and never have to think about being hungry, you probably will put great importance on the CD.

To me there’s nothing wrong with buying things we want as long as we do it moderately and keep it to a reasonable limit and keep our spending habits in perspective.

Let us think carefully about what we want and need. You will realize that most of the things we say we need are really things that we can live without.

Make a list of everything you think you need at this particular time. Then go over each item and really ask yourself if it’s a need or a want. Chances are you’ll discover the majority of the items on your lists are wants and not needs.

Thank you.

Christina Hue
www.RealSmarTeens.com

Teaching the value of money in this festive season

Gong Xi Fatt Chai. Today is the second day of the Lunar New Year. This is a festive season which is celebrated in most Asia countries especially in China.

This celebration marks a new year to the Chinese calendar.

During this festive celebration, the children would be the most happy as they will be receiving a red packet called ‘hong bao”. What is ‘hong bao’? This red packet contains money inside which is given during Chinese New Year, weddings, birthdays or any other auspicious events.

Why the red packet must be red? The purpose of the red packet is that the red symbolizes good luck and prosperity.

The cash amount contained is not important but the amount contained has to be in even numbers. The numbers are auspicious and odd numbers are perceived as loneliness. Usually those who are married can only give out “hong bao”. Any unmarried person is eligible regardless of age.

I believe that during this Chinese New Year it is also a good time to teach children to appreciate the meaning of our traditional values. We as parents must teach them the significant of the “hong bao” .

The amount value is not important. I have seen children open up the ‘hong bao’ and say to the parents that the amount inside is very small. It is not whether they receive $20 or even $2. Children must know the custom of receiving “hong bao” as it signifies good wishes and good fortune.

It is also a good time to teach the children to give. Teach them the joy of giving and sharing. Bring them to the orphanage or any charity homes, ask the children to use part of their “hong bao” money to buy some gifts to give and share. It makes them realize where they are and how fortunate they are to have what we have.

This Chinese New Year is a good time to teach the children that money is a valuable tool that can use to help others. By giving part of their ‘hong bao” it can make someone else happy.

We can teach the values of money to our children in any occasion. As long it is fun the children will always learn better.

Gong Xi Fatt Chai to all who celebrate this festive season. Happy collecting 'hong bao' and Happy learning.

Christina Hue

www.RealSmarTeens.com