Finance lesson at age 7? Yup, It’s never too early to start!

Recently my seven year-old daughter and I went to New York. We had a blast, but I had to deal with her “Mommy I want this, I want that, can I have this, can you buy this… Mommy pleeeeease (with the puppy dog eyes/lower lip tremble), I really need that…”

I mean it didn’t end – I found myself constantly saying “NO” to her but without any solid reason.

Obviously I don’t want to spend all our money on nonsense toys but how do I stop the asking? Because the mind of a seven year-old child can never have enough toys – the same way us girls can never have enough shoes, right (haha)? And she thinks that if she tells me she NEEDS it, then mommy will get it….

I definitely don’t want my kids to have limited thinking about anything, to hear “money doesn’t grow on trees” or “we can’t afford it” – or or any of those terms that our parents used on us. Because the truth is…we CAN.

It’s all planning, prioritizing and having the right attitude. It doesn’t matter if you have a dollar or thousands of dollars. And I need to be smarter than my parents were with me – we are in the 21st Century 🙂

I’ve read this book called Secrets of the Millionaire Mind and I learned how we all have a blueprint about money and how it affects us for our whole life – how we see money, or feel or act around it.

My life coach Heather Hayward   recommended me the book and even though I read it cover to cover I didn’t know how to apply it to my child so she can have a better blueprint. So I called her – she always has an answer for everything, she is kind of a big deal for me… I trust her so much and I was willing to listen and learn, because even though I knew i needed a new way, I didn’t know what to do.

So Heather said “Julyet, this will come to you naturally once you change your blueprint, but in the meantime why don’t you try giving Rain a budget. Twenty bucks a day, let’s say, and don’t use the word “spent” – use the word “INVEST” instead, and see how she reacts.”

I said, ok I will try anything, I told Rain, “Honey, here’s twenty bucks for you and how you invest your money is totally up to you.”

You had to see her face… priceless!! She lit up like she won the lottery :-0

So now we’re walking around on Canal Street and Rain is going into every store she sees – she wants to buy it all, but now she knows she only has $20 to invest. So she starts consulting with me and our conversation made a turn for the better – instead of her saying, “I want , I want, I want …” now she is saying, “mommy I need help, should I invest money in this toy? Or that one?”

Than we started matching prices and thinking where to invest, and at Canal Street if you ever been, you will know that sales people always ready to give you a deal, as long as you are a buyer. Rain was in heaven. She was excited and she made smart purchases all day. In the end she had $7.44 left and she was so happy with how much money she had left over. I was happy for her and so proud of her, and I was thanking Heather for the idea.

Later that day, we were in Times Square and there are many gift shops there, and of course Rain is high on toy shopping again – but this time her budget is $7.44….

We were in this one store, looking around and I turn my back for a second – then I saw Rain front of the cashier holding up a gold Oscar statuette for “Best Mom” in her hand. Awww… The price was $24 and I heard her saying, “Sir? I really NEED to get this award for my mom but I only have $7.44 left in my budget, will you give this to me? And the guy was laughing and shaking his head and said “No I can’t young lady, but there are little ones for ten bucks, you can have that one.”

I was so touched by her wanting to give me a Best Mom award but even more impressed that she was learning how to manage how her money… and that she was learning the true value of a dollar.

The point is we don’t want to raise our children with a glass ceiling over their heads – as long as you know how to manage your dollar, the sky is the limit.

OMG, she was so excited, I just watched the show basically at this point, I was smiling with joy.

First of all, she didn’t come to me crying or begging for me to get the toy, she handled her own money; she fought for the toy she wanted, she didn’t get what she wanted but she got a smaller version of it.

She was a winner and I was a happy mother. She felt good about herself and felt like a responsible adult. From now on, wherever we go, I give her a budget for her to invest, and I don’t hear anymore “I want this or that”, I think she knows know that if you invest well and plan, you can have anything.

The reason I am sharing this is because I know how frustrated most parents gets on constant want want want….you can’t even walk through a store without a breakdown that a kid wants something, and in order to avoid drama we end up giving in and buying more and more, and the kids don’t learn anything about how life works.

It’s kind of a vicious circle.

So I figured maybe this will help some parents and they can create a better blueprint for their children so they can be successful in life in every area.

Thank you Heather Hayward, and thank you T. Harv Eker

Until next time –

with love,


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