Think back to when you were growing up and what your parents taught you. Try to recall what morals they taught you. For example, how did they teach you to handle money? Perhaps you received an allowance for completing chores and you could spend the money as you wished. Maybe they made you save half of your allowance. The values that your parents gave you as a child helped shape who you are today. For instance, if they taught you to save, you’re probably better at saving than your friend whose parents didn’t teach them about saving.
This doesn’t mean that your parents were better than anyone else’s parents. It merely means that they felt that if they taught you the value of saving, you would save money as an adult. They hoped that you would grow up and not live paycheck to paycheck as they did. When it comes to teaching values, each parent is different. But, some parents naturally teach their children specific life lessons that other parents don’t – which is the case between rich and poor parents. So we decided to take a look at the valuable pieces of advice rich people only share with their close families.
15. Don’t Tie Income To The Hours You Work
Your parents probably taught you that you need to work a full-time job to make enough money to cover your expenses. In fact, this is the main reason they pushed you to go to college – so you can spend hundreds of thousands of dollars to get a degree and then find yourself deep in debt when you go out into the world. The problem is, unless you find a good-paying job right away, you will continue to build debt. This isn’t to say that college is the wrong choice. The factor you need to look at is how you think about making money and the number of hours you work.
Wealthy parents will tell their children not to tie their income into the number of hours they work because they will find themselves continually working up to 50, 60, 70, or more hours a week just to afford a better house or a newer car. Instead, they are to think about raising the value of their work. They need to get paid for what their job is worth, not what someone tells them their worth. Instead of working more hours, you need to make more per hour.