Money Management for Kids

Money Lessons

The Most Important Lesson I learned that allowed me to free myself from bad debt and rat race … and earns handsome passive income every month!

3 Money Laws

The money lessons only involve three steps:

Law#1 – Pay Yourself First
Law#2 – Make Money Works For You
Law#3 – Seek Experts’ Advice

By just strictly following the three steps, everyone can achieve financial freedom.

Having said so, I realised the struggle I had experienced. As the old saying, “habits die hard”. I struggled to change my mindset on how I save, spend, or invest. I also feared I invest in the wrong area. What made it more difficult was the people around us constantly questioned and doubted me, out of “love” and “care”.

Reflecting my experience, and while reading on childcare development since I was having two preschoolers, I realised I do not want to miss out the special window for my children.

#1 Pay Yourself First

Just save at least 10% of your net earnings every month into another bank account and never, NEVER spend it for anything, be it your favourite food or toy, loan to best friend, donation, etc. (Use the rest of your 90% to help others.)

This saving is reserved for use by the 2nd Money Law only.

#2 Make Money Works

If you have persisted in the 1st Money Law, you can proceed with this step.

Money management is not about mere saving and limits on your spending.

A complete money management skill includes smart investment, which must include the generation of passive income.

#2 Seek Experts' Advice

The world is changing very fast especially with the latest technology evolvement. No one knows everything.

It is important to stay open and constantly seek advice from experts.

Always start investments in an area that is safe and you are most comfortable with. Before you invest in any new area, invest time, attend lessons, and even seek professional assistance first.