Video of the Day: 15 Lessons Rich Parents Teach Their Kids

15 Lessons Rich Parents Teach Their Kids That The Poor Don't

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1. Understanding How Money Works

2. The Difference Between An Asset and A Liability

It's simple, an asset makes you money, while a liability costs you money. 

3. They're Not Entitled To Anything

Remember "growth mindset, growth mindset, growth mindset." 

4. How To Be Sociable and Connect with Other People

5. Stop Expecting Immediate Results and Avoid Magical Thinking

Basically stay away from social media and the immediate impact it has. 

6. How To Create Daily Habits That On The Long Run Give Them Incredible Advantages

7. Money Is A Tool and It's A Good Thing

8. Increase Income Instead of Lowering Expenses

9. Knowledge Is More Valuable Than Money In The Long Run

"Invest in yourself, it pays the best dividends." 

10.  Don't Work For Money, Have Money Work For You

This goes back to the first lesson and having an understanding of how money works. Money likes to work, so have it work for you to make more money. 

11. Solving Problems Is The Quickest Way To Get Rich

Be a problem solver. 

12. Not To Waste Time On Things That Don't Correlate To The Real World

13. How To Use Good Debt Instead of Bad Debt Like The Poor Do

14. 80% of Results Come From 20% of the Effort

15. Having Money Doesn't Make You A Better Person, It Just Solves Some of the Problems

BONUS

16. To Raise Their Expectations