Raising Wealthy Children Starts With One Simple Habit

As parents, one of the greatest desires my husband and I have for our child is for him to grow up to be financially successful in life. But wanting this for him goes beyond just having that desire. Cultivating a positive money mindset in our child begins with us as parents. 

Our children are always watching…absorbing our attitudes, habits, and behaviors around money. That is why we must embody the values we want them to adopt, starting with our own belief in the possibility of achieving wealth.

You have to first believe in your potential for financial success. 

When you think of money with a scarcity mindset, that thinking can unconsciously pass on to your children. Conversely, when you believe wealth is achievable and take consistent steps toward it, you create a model for your children to follow.

Part of this journey includes showing up for ourselves, even when it’s difficult. Success requires effort, discipline, and sacrifice. There will be times when we don’t feel like doing the hard work—whether it’s managing our finances, making strategic investments, or sticking to a budget—but it’s essential to push through. Our children will witness these moments and learn that perseverance is key to achieving wealth.

You also have to be intentional in creating a life that your children will want to emulate. If we model a balanced approach to earning, saving, and spending, they’ll naturally gravitate towards that as they grow. They need to see us making thoughtful financial decisions, delaying gratification when necessary, and planning for the future. By building a financially responsible and purposeful life, we instill in them the desire to do the same.

And don’t worry if it seems as though they don’t quite understand it now. Your responsibility is to lay the foundation. They’ll catch up eventually. 

Ultimately, cultivating a positive money mindset in our children isn’t just about teaching them, it’s about living the example. When we show them that we believe in wealth, work toward it, and embody the values that lead to it, they’ll be equipped with the tools to follow in our footsteps.

For a deeper dive into how your mindset shapes your financial reality, watch the latest Money Classroom episode, where we have a heart-to-heart discussion with Dr. Swaby on the powerful correlation between mindset and money.