Debunking the 4 Absurd Lies Poor Parents Tell Their Kids about Money

Introduction:

Being a parent is one of the toughest jobs in the world, and when your family is living in poverty, it gets even tougher. Poor parents often tell their kids all sorts of things, even if they are far from the truth, when it comes to money. In this article, we will explore four common lies that poor parents tell their kids about money, and why these lies are absurd.

Lowering expenses will increase your money

Poor parents often teach their kids to lower their expenses, while the rich focus on increasing their income. They instill the bad mentality that you should always save the last coin, to the point that life isn’t almost worth living. The reality is, if you focus on radically increasing your income, there’s always going to be a large amount of cash left at the end of the month.

 This doesn’t mean you go about toiling 24/7 either. The smarter you are from a financial perspective, the less effort you have to deploy into the real world. That’s why Wall Street brokers earn so much more than miners.

Misfortunes are brought by the lack of money

Poor parents who are constantly teaching their kids that money is the root of all evil create the notion that their misfortunes are brought about by the lack of money in their lives and attribute an element of negativity to the concept of money. This is such a shallow narrative because, even with all the money in the world, not all problems can be solved. 

Research shows that even when poor people get money, it leads to more problems that they don’t know how to tackle. Worse yet, mismanagement and abuse may lead them to deeper black holes. The lack of money also leads to some tacky misfortunes, so you do need money in your life for some comfort.

Talking to someone about your financial situation is shameful

Poor parents teach their kids that it is shameful to talk about finances with other people, especially because they come from a less-privileged background. They would condone the kids sharing with their friends about the real situation at home to avoid neighbors getting in their business or being judged. However, financial literacy is very important, and learning the basics from home is a great kickstart. 

The vast majority of the poor never talk about money at home; it’s usually a secret how much money the parents earn or how that money is spent. On the other hand, rich parents usually make it a priority to talk about the value and importance of money in their household as soon as possible.

The work of your hands will make you rich

If anything, a poor parent will tell their kids that the work of their hands will make them rich. It will also make them extremely tired and unmotivated along the way because hand-to-mouth labor gets monotonous over time. There is a huge difference between working hard and working smart. Poor parents need to teach their kids how to work smart and not just hard. Working smart means learning new skills and working on projects that have the potential to generate more income.

Conclusion:

In conclusion, these are some of the absurd lies that poor parents tell their kids about money. It is essential to debunk these lies and teach our kids the right mentality about money. Money is a tool that can be used to make our lives better. We need to teach our kids how to be financially literate, how to increase their income, how to communicate about money, and how to work smart. These lessons can make a significant difference in their lives and set them on the right path to financial success.