HOW TO MAKE YOUR CHILD A MILLIONAIRE IN 10 YEARS

Here’s what rich men and women won’t tell you; Most of the things they learn in life weren’t gotten from School or by being the best students, but from experiences and situations they picked up along the way.

Robert Kiyosaki, a Money expert, recognized globally, wrote a book called “Why the A Students Work for the C Students and the B Students Work for the Government”, and in that book, Robert carefully explained why the brilliant students with Good Grades end up working for those students scoring a little above average

I didn’t say having our children score 1st in class is wrong, I also am not saying it’s okay for your child to take the last position in class because it means he’ll be a millionaire in 10 years, But what if I told you there's a secret ingredient to success that goes beyond scoring 1st position in School?

Picture this: Your child has the opportunity to be The CEO of a million-naira company, that provides jobs to thousands of people or Your Child works every day and collects a salary at the end of the month. Both Choices are good but it's important to provide our children, with the skills and mindset to succeed in whichever path they choose.

So How Do We Make Our Children Millionaires?

• Employ your children:

When your child returns from School, Employ them to work for you, whether it's at your shop or home. Having them work for money helps them see how important it is to earn money. It also reduces the chance of them wasting time later in life.

Having a job teaches our children how to manage their time while handling chores, work, and school without falling behind. Putting off tasks delays success. By guiding your kids to overcome this habit, you're teaching them to use their time wisely to advance in life.

• Now that your child is working for you, it's time to let them spend their money

Once your child earns money, give them the chance to spend it. They won't learn about money if it's just sitting there.

Teaching children how to spend money might seem simple, but it's not always easy.

It takes practice to learn the millionaire art of spending money.

Sometimes, our children might overspend because they didn't plan properly, or they confuse wants with needs.

The key is learning to plan and budget wisely, ensuring they have enough for what they need. When children learn to save and spend wisely early on, they'll be better off financially as adults. Saving money teaches them to plan and be patient.

• Avoid letting your child borrow money:

Getting into the habit of borrowing money can be hard to break. If your child borrows from friends or family, they might rely on loans more and more in the future, leading to more debt.

Home isn't the best place to learn about borrowing because as Parents, we are usually more forgiving than businesses. We might let them take longer to pay back or not charge interest. But this can make our children think borrowing is safe.

The truth is, borrowing doesn't give you freedom—it traps you. Instead of being strict about payments or charging interest, teach your children to stay away from debts and loans.

Good money management means spending wisely. Don't let your children fall into the trap of wanting things now and paying for them later. Teach them to save for what they really need.

• Build your child’s mindset by reading books 

Mindset and habits are more important than inheritance when it comes to personal financial success.

And one of the ways to build a healthy mindset for our children is by reading books. They'll learn valuable lessons about life, money, and general success simply by reading.

Books like; Rich Dad Poor Dad by Robert Kiyosaki, Think and Grow Rich by Napoleon Hill, Think Big by Ben Carson etc, etc. Start by giving them small opportunities to learn, and once they've mastered those, they'll be prepared to succeed on a bigger task.

Have you read any of these books?? Please share them in the comment section. For more tips on raising your child to be a millionaire, Click HERE to follow us on Instagram and HERE to follow us on facebook.

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