At the foundation of your children’s financial intelligence should be this undeniable truth: It is not the amount of money you have but what you do with it that matters.
This is true for a child managing a $5-a-week allowance or a corporate executive with a $5,000-a-week salary.
For the better part of my life, I didn’t know this truth. On the contrary, I believed that more money was the answer. I was convinced that if we would just make more money, win the lottery or receive some unexpected inheritance, all of our money problems would vanish. But the more we made, the worse our problems became. Because I didn’t know how to manage what we had, more would have never been enough. We didn’t save. We didn’t give. We didn’t plan. And we had no idea where all the money went….