My wife and I have 3 kids (12, 7 and 2) and we refuse to pay them for chores like taking out the trash and cleaning their rooms, etc.
“Why? Don’t you want to teach them work ethic?” You ask …
Allow me to explain.
There’s 2 main reasons I refuse to pay my kids for chores.
Number one … they live in my house. I put a roof over their head. I feed them and buy their clothes.
Doing chores is simply expected as a fundamental part of chipping in and being a contributing member of this home.
But the more important reason I don’t pay them for chores is this …
I don’t want to implant a mental connection that causes them to associate money with menial jobs.
In other words I don’t want them thinking that taking out the trash is the kind of activity that will produce income for them in the future (so I’m not going to pay them to do that kind of work now)
I’ll tell you in a moment what I DO pay my kids for, but first, consider this …
When I analyze the real foundation of what’s created happiness and substantial income and financial success in my own life …
It certainly hasn’t been routine jobs or manual labor.
Rather, it’s been Knowledge … Skills … Courage … Confidence (to name a few)
And the way I developed those attributes was through personal development (primarily by reading books)
In fact every book I’ve read in my life
… from How to Win Friends and Influence People
… to Rich Dad, Poor Dad
… to Think and Grow Rich
…. to Secrets of the Millionaire Mind
…. to every marketing course and business book I’ve consumed…
These have made me much more wealthy, happy, self reliant and successful than chores and menial jobs ever did.
So recently, I made a deal with my 12 year old daughter and 7 year old son (and I’ll make the same deal with my 2 yr old when he’s old enough)
For every chapter he reads in a self-development book
(which must be approved by me) …
And subsequently writes down at least one takeaway or “nugget” that they got from that chapter …
I pay him $5.
So if he reads 20 chapters and writes down 20 takeaways, I pay him $100.
(now of course, you and I both know he’s really earning MUCH more than that. He’s developing his mind for success. He’s learning the power of personal growth. He’s learning to think outside of the box. He’s getting inspired by stories of people who’ve faced similar challenges to what he will inevitably face in his life and ultimately, he’s developing earning potential for the future)
I honestly cannot think of any other investment that will pay him higher dividends!
I know because nothing has ever paid me higher returns than the investment I’ve made in my own mind.
In fact, I believe it was Benjamin Franklin who said, “Empty the coins of your purse into your mind and your mind will fill your purse with coins”
So let me ask you …
How committed are you to self-development through reading and studying (and hopefully implementing that information too)?
If you’ve made it to the end of this lengthy email, chances are you’re doing pretty good.
But if you feel like you can do better …
The good news is that it’s never too late to start, and even 15 minutes a day to read a single chapter will transform your mind and your life over time.
(hey, if my kids year old can do it, so can you)
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