Teach Your Kids Making Money ASAP

In most countries the official employment age starts at 18 years. Most of us don't make a step into career before getting at least the Bachelor's degree. Even then, with no work experience we lose a few more years blundering around. Most can't find a job that is relevant to their academic degrees or their personality. Job-hopping to find the match for the best job that fits us and brings a suitable income usually takes a few more years.

As a result, most start moving up in their career path only when they are around 30. The stress of maintaining a family and of being late to start a career doesn't let us to make brave decisions.

I've been talking to fellow entrepreneurs whom I regard as more successful than myself. I was wondering how they could reach what they are now in a short period. The answer was simple:

1. Start early
2. Be consistent

Most of people that have gotten themselves into the business since childhood are from small business owner families. They've started helping parents and were "thrown into the pool" rather than being taught.

My father gave me some cash and told me to go buy some bagels to be sold in the streets. I was 12 years old, that's how I started my own business.

(In his 40s, now he owns 4 big restaurants and one successful catering business in the city with about 70 full time employees).

I remember selling my post stamps to my classmates when I was 8 years old. Since they were giving out their lunch money for stuff that they actually did not need, I can be proud to be a good "kid" marketer too. The only thing stopped me from doing my own business that time was my family value. My parents would not appreciate what I was doing that time.

Child psychologist Adem Güneş suggests that male kids should start "working" at the age 11-12.

Summer vacations should be used wisely. Closely mentored summer internships in different areas of business such as sales, service, production, etc. will give your kids an understanding of what they really like and are good at. Later on, this will play a crucial role in what they want to study at college.

Of course, this should also be controlled by parents, but earning their own cash will teach kids to spend wisely. Even more important gain would be the self confidence and intuitive grasp of the business opportunities. This should sound familiar to most of the entrepreneurs, as these a few skills are vital for start-ups.

MBA programs do not teach such behavioral skills, they should be there when you apply for a degree!

Please, share your story: At what age did you make your own first cash and how do you feel about that?

(Photo courtesy to http://www.thecso.co/teaching-your-kids-about-money/)