Rich Habits Poor Habit Episode 45 | Can Your Child be Rich or Poor?
15 Poverty Habits Parents Educate Their Children
Tom Corley travels the country talking to high school and college students about precisely what they need to do to become financially profitable in life he always begins his presentation by asking three questions…
“Exactly how many want to be fiscally successful in existence?”
“How many think they’ll be financially profitable in your life?”
Virtually every time I request the first two questions each hand rises in the atmosphere.
He then asks the magic third question:
“How many have taken a class in college on how to be fiscally successful in life?”
Not 1 hand rises in the atmosphere , ever.
Certainly every student would like to succeed and believes they’ll be successful but none have been educated by their own parents or their college system how to be fiscally successful in existence.
Not merely are there no courses on basic financial success fundamentals but there aren’t any structured courses teaching basic financial literacy.
We’re raising our kids to be financially illiterate and to neglect in life.
Is it any wonder that many Americans live paycheck to paycheck?
That most Americans collect more money than assets?
That many Americans shed their homes when they shed their job?
Is it any wonder that many Americans can’t afford college for their kids and student loan is now the greatest type of debt?
What is worse is what our kids are being educated by their own parents, the college system, politicians and the social networking.
They are teaching our kids the wealthy are corrupt, covetous, have an excessive amount of prosperity and this prosperity needs to be redistributed.
What type of a message do you think that sends to America’s future generation?
It is instructing them that seeking financial success is really a bad and bad thing.
Here are a few statistics out of his five-year study on the daily habits that distinguish the wealthy from the bad?
- 6% of those wealthy play the lottery 77 percent of the poor.
- 80% of those wealthy are focused on at least one goal vs. 12% of the bad.
- 62% of those wealthy floss their teeth daily vs. 16 percent of the bad.
- 21% of those wealthy are overweight by 30 pounds or more vs. 66% of the poor.
- 63 percent of those wealthy spend less than one hour every day on recreational Internet use. 74 percent of those poor spend more than an hour every day in the Internet.
- 83% of the wealthy attend back to school night to their kids vs. 13 percent of the bad.
- 29% of those wealthy had more kids who made the honor roll vs. 4% of the bad.
- 63 percent of wealthy hear audio books within their commute vs. 5 percent of the poor.
- 67 percent of their rich watch less than one hour of TV every day vs 23% of the bad.
- 9% of the rich watch reality TV shows vs. 78% of the bad.
- 73 percent of those wealthy were educated the 80/20 rule vs. 5 percent of the poor (live off 80% save 20 percent).
- 79 percent of the wealthy system 5 hours or more . 16 percent of the poor.
- 8 percent of those wealthy think prosperity comes from arbitrary great luck vs. 79 percent of the bad.
- 79 percent of those wealthy believe they are liable to their financial conditions. 82% of the bad feel that they’re victims and not responsible for their poverty.
The truth is that the poor are poor because they have too many Poverty Habits and too few Loaded Habits.
The top parents teach their kids good habits that result in success and the worst parents teach their kids bad habits that result in poverty.
We don’t have a wealth gap in this nation we’ve got a parent gap.
We don’t have revenue inequality, we’ve got parent inequality.
Our colleges will need to work together to instill good daily success habits.
They need to be teaching kids particular Loaded Habits that result in success.
Here are a few examples:
- Limit TV, social networking, video games and mobile phone use to no longer than 1 hour each day.
- Require that kids read only one non-fiction book a week and write a 1 page summary of what they discovered to their parents to assess.
- Require kids to aerobically exercise 20 — 30 minutes each day.
- Limit junk food to no longer than 300 calories each day.
- Teach kids to fantasy and to pursue their own dreams. Have them write a script in their ideal, future life.
- Require that kids set yearly, yearly and long-term goals.
- Require working age kids to work or volunteer at least ten hours each week.
- Require that kids save at least 25 percent of their earnings or the monetary gifts they receive.
- Teach kids the importance of calling familymembers, friends, teachers, coaches, etc, in their own birthday
- Teach kids the importance of calling familymembers, friends, teachers, coaches, etc. when anything good or bad happens in their own lives. Examples include deaths, births, awards, illnesses, etc..
- Teach kids to send thank you cards to individuals who aided them in any way.
- Reassure children that errors are great and not bad. Kids will need to understand that the cornerstone of success is determined by the lessons we all learn from our errors.
- Discipline kids when they lose their temper in order that they understand the outcome of not restraining this exact expensive emotion. Anger is the most pricey emotion. It gets people fired, raped and destroys connections.
- Teach kids the pursuit of financial success is a fantastic thing.
- Kids will need to learn to control money. Open a checking account or savings account for kids and force them to use their own savings to buy the things they desire. This teaches kids that they are not eligible for anything. It teaches them they have to work for the things they want in life, like mobile phones, computers, and fashionable clothes, video games, etc..
- Require kids to take part in at least one non-sports-related extracurricular class at school or out of college.
- Toddlers and kids will need to set aside at least an hour per day to speak to one another. On Facebook, not on the mobile phone, however, face to face. The only excellent time is amount time.
- Teach kids how to control their time. Teach them how to create a daily “to do” list. They can put their own “to-do” set in their bedroom door so parents can check it each day.
Clearly, it’s not possible to stick to each Rich Habit recommendation I recorded above.
From my research, I learned that it takes is two or one Loaded Habits to fully transform a lifetime.
The reading custom, by itself, can set your kids up for career success.
The savings habit, by itself, can set your children up to be financially independent. The exercise habit, by itself, can set your kids up for a long, healthful life.
The joyful birthday or life event calls, in their own, may set your kids up to forge strong relationships. Pick two habits to teach you kids and keep on top of these for six months. Following six months the habits should adhere.
YOU MAY ALSO BE INTERESTED IN VIEWING:
Tom Corley understands the difference between being rich and poor at age nine, his family went from being multi-millionaires to broke at just 1 night, due to a devastating fire that destroyed his Dad’s thriving company. For fourteen years they struggled with poverty. There were twenty five in Tom’s family, and they lived in constant fear of losing their home.
Inspired by the desire to unlock the keys to success and failure, Tom spent analyzing the daily actions of 233 rich people and 128 bad individuals. He discovered there was an immense difference between the habits of the rich and the bad. During his research he identified more than 300 daily pursuits that separated the “haves” from the “have nots.” Tom decided to compose a book to discuss what he heard. That book, Rich Habits: The Daily Success Habits of Wealthy People (1st Edition), went on to become the Amazon Bestseller in the United States twenty occasions over a three year interval. To give you some perspective, so as to be a real Amazon Bestseller in the USA, where you truly receive a specific Bestseller designation from Amazon, then you have to be at the top 100 of books sold by Amazon from the USA at a day. Rich Habits did that for nearly thirty straight days, climbing as large as #7, eclipsing such Bestselling authors like Stephen Covey, Robert Kiyosaki and J.K. Rowlings. Imagine that – an anonymous, first time, self-published author selling more books than J.K. Rowlings!
Tom now travels the planet, sharing his Rich Habits and inspiring audiences at industry conventions, corporate events, universities, multi-level marketing team events, and international sales organizations’ presentations and finance conventions. He has spoken on precisely the identical point with famous entrepreneurs and private development experts, including Sir Richard Branson, Robin Sharma, Dr. Daniel Amen, and several others.
Tom has shared his insights on various national and international network, cable, and Internet television applications like CBS Evening News, NBC News, Yahoo Financially Fit, Money.com, India TV, News.com Australia, and a slew of others. He has been interviewed on several prestigious nationwide syndicated radio series, including the Dave Ramsey Show, Marketplace Money, and WABC.
Tom was featured in numerous print magazines–like Money magazine, Inc.. Magazine, SUCCESS Magazine, Entrepreneur magazine, Fast Company magazine, Much More magazine, Epoca Magazine (Brazil’s largest per week) and also Kiplinger’s Personal Finance magazine–and many online publications, including USA Today, CNN, MSN Money, SUCCESS.com, Inc.com, and the Huffington Post. Tom is a frequent contributor to Business Insider, Credit.com, Bankrate.com and some other media outlets.
National promotion has gained international press attention for Tom and his Wealthy Habits research spanning 23 nations. Broadcast networking, online publications, and television across Asia, the South Pacific, Europe, the United Kingdom, and Central and South America have shared his powerful message.
In a bid to assist parents, parents, teachers and adults become success mentors to the younger generation, ” Tom released his second novel, Rich Kids: How to Raise Our Children to be Happy and Successful at Life at 2014. This book was the self-improvement class winner of the 2015 New York Book Festival and Runner-up in the prestigious 2015 Writer’s Digest Self-Published Book Awards Contest. In 2016 Tom released his third book, Change Your Habits, Change Your Life. This book provides the latest science on custom change in addition to much more of Tom’s unique research on the specific habits that helped alter 177 ordinary individuals into real time millionaires.
Apart from being a writer, Tom can be a CPA, CFP, and also hold a master’s degree in taxation. As president of Cerefice and Company, CPAs, Tom heads among the greatest financial firms in New Jersey.
Telephone Number: 732-382-3800 Ext. 103. Mail Tom | Download Media Kit
Sign up for the Rich Habits site (it’s free!)) And receive notifications of new articles by email.
the Most Recent from the Rich Habits series now available!
Learn about the habits that helped transform everyday individuals into self respecting millionaires.
Literary Awards for Rich Kids!
Learn the strategies that will assist your kids to shine in life.
Runner up for prestigious 2015 Writers Digest Self-Publishing Awards Competition
Winner of 2015 New York Book Festival
Did you know 85-88 percent of American millionaires are more self explanatory, first-generation rich? Learn the secrets of the wealthy and turn your luck around!
Research Tom Corley’s Rich Habits: The Daily Success Habits of Wealthy People: