What does today's financial environment present for your child? In an advertising frenzy of iPods, iPhones, branded objects and label hopping examples of seemingly never ending desires financially expressed by your children, how does a parent convey the good measure of entrepreneurial leadership needed to set a course for financial freedom and overall success for your greatest asset, your child?
The primary goal and the key to successful entrepreneurial leadership for your children lies in the ability to purchase a lifestyle to sustain the highest level of well-being and transfer this knowledge to your children.
One of many groups concerned with children's financial literacy, The South Carolina Economic Council, which focuses on teaching children about finances, reports that "teaching children about money and finances has moved to the front of the educational agenda."
A considerate and careful approach is relative to desires for real life achievements. Parents who seriously consider the financial success of their children are reasonably prone to present their own money management acumen as a clear example. Parents develop their own standards of "parental marketing" geared towards their own children.
Primarily winning formulas that have worked for good'ole dad or mom will be valued by children who have been directed along those same paths set by practical examples. Clearly, parents must devote the same attention to financial education as applied to other areas in the life of healthy, emotionally sound and attune young minds.
While a motivated and well educated entrepreneurial parent should grasp the time tested concepts of balance sheet affluence vs. income affluence and actual wealth, these concepts will not translate to your child's individual success without the practice of entrepreneurial leadership extended by the parent. As with other areas of successful life skill sets, parents have no less obligation to teach money management, budgeting, and investing than they do to neglect to teach a child to walk.
The whole consideration of today's economics should not be entirely focused on mere cost. For example, times were different for grandad, but the valuation of the purchasing power of a dollar has changed in the course of any lifetime. Enduring entrepreneurial leadership in any lifetime encompasses winning formulas of economic care and the willingness to take financial risks only worth the reward.
So, as a parent of an intensely important child, the question today is, what will tomorrow's financial environment present for your child?