Every parent would like to teach their children to grow up to become happy, successful and wealthy adults and a key way for this is to teach your child rich habits. What happens to make some children turn out to be the opposite of this picture? Habits play a big part in how our lives play out.
Is it possible that children become who they are as adults based on the habits that the learnt from their parents? If rich parents have certain habits that they pass on then they are more likely to raise rich children, perhaps poor parents who have counterproductive habits then pass this on and are more likely to raise poor children. Could it be that the rich teach their children rich habits and this is the reason that the wealth seems to recycle itself among a certain group.
Being rich means having lots of possessions and wealth, but it also means “having or supplying a large amount of something that is wanted or needed” definition from merrian. Having rich habits means having habits and taking actions that lead to a successful life, which includes the accumulation of wealth.
According to Rich Habits, our daily habits determine our success or failure in life. The benefits of having Rich Habits accumulate over time and we are rewarded for these good daily habits in the form of valuable relationships, career success, financial success and good health. The detriments of having Poverty Habits also accumulate over time and we are punished for these bad daily habits in the form of damaged relationships, career failure, financial ruin and poor health. The idea that our habits ultimately determine how we turn out suggests that there are good and bad habits.
Daily habits are the cause and financial condition, the effect. A big portion of our daily activities are based on habits. This means that if we are able to train ourselves to have good habits then we can hope for positive outcome and the ensuring effects in our lives. If we are able to train our children from a young age to have good habits then we are setting them up to grow up to be happy, successful and wealthy adults.
There are certain habits that are considered rich habits, these habits are habits that when imbibed from a young age help the children to be rich in all areas of their lives. We all have a mix of good and bad habits but we can train ourselves and focus on making sure we are operating majority of the good habits. In addition when these rich habits are part of our lives then our children can more easily imbibe these habits, children learn more from your doing than your telling.
Some Rich Habits include
- Exercising daily – this habit is a discipline that eliminates overeating and poor health which comes from lack of activity.
- Setting goals – there is a difference between a goal and a wish. A goal is a wish with an attainable and achievable plan to make it a reality.
- Learning – forming the habit of learning is invaluable. Children should learn the habit of being curious to learn, to find solutions and to keep reading.
- Relationships – form the habit of managing relationships as having a healthy relationship and network is a “rich habit”. The people around you are the ones who will encourage you to flourish. Teach children the importance of healthy relationships and not only to use people for what they want to get from them. (Note the way that social media is eroding relationships)
- Moderation – living in moderation is a habit to learn early, this makes it unlikely to engage in any particular activity in excess. Moderation is key for a balanced life. Too much work and no play, or too much play and no work does not work.
- Positive Thinking – Learn the habit of positive thinking, life will always have its ups and downs how you react to situations makes all the difference.
- Financial discipline – Rich people know to pay themselves first and save a minimum of 10-20% of their income and live on the balance. This is why it seems sometimes that their money works for them and continues to grow, they invest and they plan for the future.
Getting rid of a bad habit does not happen with a magic wand, a focus on stopping all bad habits can lead to frustration. Rather focus on what you want to do right and start forming these new habits by doing these things. So pick one bad habit and look for a corresponding “rich habit” then start implementing. For example stop saying you never find the time to exercise, rather decide to start going for a walk down the street or introduce 10 mins of exercise at home, you can also do this as a family.
It takes time to form good habits so crowd out bad habits with rich habits. Rich habits truly make you rich! Children are like sponges and it is highly recommended to introduce positive habits young. For example what eating habits are you teaching your children? Are they on a junk food journey or are you teaching them the invaluable habits of healthy eating, drinking water and eating vegetables and fruits.
As my DIL will say learn to do things in moderation so that you do not have to eliminate things later in your life.
Originally culled from RichHabits.
Photo source: profitandpossibilities