5 Valuable Non-financial Lessons the Rich teach Their Children

Having money doesn't make you a better person

Rich people know this, and make sure that they teach their children this.

They also know that to preserve wealth, there are some values they need to instill in their children. So they take their time to teach them these things.

This prepares them for a life of riches and abundance.

They teach them how to be a better person, and live a fulfilling life, before having money.

These values and skills make it easier for their children to be successful. It makes it easier to guarantee that their families will remain rich.

Here are 5 non-financial things that rich people teach their children, that the poor don't.

1. How to be sociable

Rich parents make learning social skills a number one priority in their household. They understand the importance of getting along with others.

So, they make sure that their kids are out socializing with others before the age of four. If they play well, the parents of the children will always like to have them around.

They will get more 'social time' than other kids.

When they go to school, they will know how to interact with others. They will also have an easier time with teachers.

Teachers will like them more and give them more guidance and attention. This will develop a level of confidence that will translate to other areas of their lives.

They teach them how to read social cues. They train them in ways that make it easier for people to be comfortable around them. This makes them more likable.

Rich people understand the importance of having pleasant conversations with other people. They understand that in life, your network and connections contribute to your success.

2. They are not entitled to anything

This may sound contradicting, because I'm sure you can think of a rich, selfish little snob. We all can.

Rich families teach their children that they are not entitled to anything. Families that don't, usually lose their wealth after about three generations.

See, the rich know and understand how hard they need to work to make or keep money. They understand the things they need to learn. They also understand the importance of protecting their wealth.

They know the importance of educating themselves about finances. If this is not done, they could lose everything in the blink of an eye.

So, to preserve their family's wealth, they teach their children to work hard. They create real life scenarios for their children to work for their money.

They expose them to the possibilities of losing everything. They teach them that they are responsible for the outcome of their lives.

This instills a sense of responsibility into the children. It removes the ever present mentality that the world is to blame.

It also makes them see that they can turn any situation around. They can create the outcome they want. So they need to be conscious enough to decide if that outcome will be good or bad.

3. Not to expect immediate results

We live in a society of instant gratification. We are now programmed to expect immediate results. What the rich realizes, is that this does not go hand in hand with success.

Success does not occur immediately. Instead, it is the result of constant, repetitive hard work. At least lasting success is.

See, poor people expect to win the lottery or get lucky to improve their financial situation.

The rich teach their children that they are responsible for their own wealth.

They teach their children the importance of starting a skill and working hard to get better at it. They show them that they can become good at anything if they work hard and long enough.

They teach them that slow progress is better than talent. That hard work can outperform talent, because talent is usually taken for granted.

This prepares the children for the long game that success is. It helps them to develop resilience. It helps them to stay in the game, even when things get hard.

They develop a mindset of constant improvement. Instead of a short term mindset of perfection or quitting.

4. How to create daily habits

Habits transform our lives. They determine how successful we are, and the road we end up on.

Learning how to create habits is a skill. It requires self discipline in the start, to make sure that it sticks. It also requires self awareness. The idea that you need to know where you want to go, and then decide on the habit you want to develop.

Habits teach children how to be proactive instead of reactive.

See, poor people let their children go with the flow.

Rich people teach their children how to identify a goal. Then, how to create habits that help them to achieve that goal. They teach them the importance of doing things even when you don't want to do them.

This is a great determinant of success. Think of how many adults you know that want to do something, but are not disciplined enough to stick to it.

Now think of how much easier it would be for them, if someone helped them as a child to learn how to develop habits. They could use that same skill to apply to anything they wanted to do today.  After all, habits take about 66 days to become engraved.

5. Knowledge is more valuable than money

Choose between $10,000 or a $3,000 dollar course in graphic design.

See, most people would take the money. It's more than 3,000. It's also money that you can use now. And it doesn't need a lot of effort to get.

The rich can see that the course is the more valuable option. They can understand that after you complete it, you can use the knowledge that you got to make more than $10,000.

They understand that what you know is more important than how much money you have.

See, I have heard stories of many rich people that suffered some misfortune. People like Tony Robbins who lost all their money, and received advice to file for bankruptcy. Yet, because of the confidence they had in their knowledge and skills, they trusted that they could turn it around. Which they managed to do.

So teach your kids to be curious and learn as much as they can. Encourage them to try new things. Encourage them to learn as much as possible. Share life experiences with them.

Teach them to crave knowledge. And they will be on their way to riches.

The challenge

This week reflect:

Were these lessons things that your parents taught you? Are these things that you are teaching your children? Remember, being rich actually happens in your mind first. So you can program your mind and your children's minds to set them up for financial freedom. Even if you aren't there yet yourself.

Remember that your children will learn from what you do, not what you say. So if these are not lessons you learned as a child, now is a good time to start learning them.

You just have to start.