Instilling entrepreneurship into your child’s education

Show Notes

• 01:04
  Recognizing entrepreneurial potential

  Genius and brilliance can be found in unexpected places. For instance, a drug dealer's business savvy, rechanneled, could fuel legal success. Environment influences outcomes, so recognizing and nurturing potential is crucial, regardless of an individual's background.
• 05:07
  Credit scores and financial independence

  Credit scores have a direct impact on the opportunities available to individuals, and consistent monitoring is crucial. Typically, a credit score below 700 disqualifies individuals from getting a prime car loan, mortgage, or small business loan, hindering financial independence.
• 06:28
  Cultivating financial literacy in the digital age

  Real-life experiences, such as handling cash, are crucial for instilling financial literacy in children. When children have constant access to their parents' credit cards, without financial education, it's difficult for them to understand the distinction between cash and credit.
• 08:54
  Financial awareness in the digital age

  In an age dominated by digital transactions, it's easy to lose track of where your money is going. For instance, checking the number of subscriptions you're currently paying for via your phone could reveal several expenses that you weren't even aware of.
• 12:14
  Entrepreneurship and financial literacy for young people

  Young people should be exposed to entrepreneurship as it builds resilience, character, and a winning mindset. Entrepreneurship instills valuable life skills like determination and grit, and parents who coddle their children from challenges are setting them up for failure.
• 17:15
  Essential financial lessons for young adults

  Allocate 10% of every dollar earned to savings or investments and build wealth through stocks, bonds, entrepreneurship, etc. Adopt a mindset of building vs. living, keeping a budget, living within your means, and understanding the difference between money and credit.