1 Oct 2014

How Important Do You Think This Is To Future Business Success?



This week has been a fascinating week that has turned into a "Perfect Storm Karma" story that I would like to share with you.

It's all based around the importance of making our children financially intelligent.

Let me set the scene for you - earlier this week I got involved in a LinkedIn discussion about the importance of making our children financially intelligent.

A member of a LinkedIn group I am involved in posted an article about the importance of making our children financially intelligent and asked for comments on the article.

Well, I got on my soapbox, because this is something I am very passionate about - I believe that it's imperative that our children become financially intelligent and I think our schools do a poor job of providing this education to our children.

Let me give you a real life example of what I am talking about - I have a 21 year old step-son and when he was around 11 years of age (my wife and I have been together since he was 6) we started buying houses that needed some "tender loving care" - we would then renovate them and later sell them for a healthy profit.

Tom (my step-son) was always included in our discussions on the buying, renovating and selling of these properties because we felt that it was important that he understood what we were doing and why we were doing it for when he grew up.

Anyway, in his last year of primary school he was asked to become part of what is called a S.H.I.P. class - S.H.I.P. stands for Students of Higher Intelligence Potential - and as part of this class all students were asked to come up with ways to generate income for the school.

Well, he came home from one of these classes quite confused one day because when he was asked what ideas he had to generate income for the school his response was "Why don't we buy some cheap houses, do them up and then sell them?"

Guess what the teacher's response was - "If you are going to make ridiculous statements like that, I won't bother asking for your input again"!!!

Tom - being Tom - just kept quiet and said nothing for the rest of the class, but when he got home and we talked about what happened he said "I don't understand what I said wrong - you and Mum have been doing this for ages".

Needless to say I was upset (mild understatement!!! LOL) and it just so happened that the following week the S.H.I.P. co-ordinator was having a parent/teacher meeting to rave about how good their curriculum was.

Guess who attended - had his say - and was never invited back to another parent/teacher meeting again?!!! LOL

Anyway, after this little debacle I made it a point of making Tom financially intelligent myself, because I had (have) little to no faith that he would get this education in our schools and it looks like what I taught him has paid off!!

Yesterday we had dinner with Tom (he lives away from home now) and he was all smiles because he has negotiated a "deal" with a hotelier he knows that will make him and his mate some nice "coin"!!

The hotel is having some kind of festival/celebration "thing" in a couple of weeks and Tom has arranged for him and his mate to set up a food stall out front of the hotel to cater for the patrons at this event.

Tom is in his last year as an apprentice chef and to hear him describe how he can get the food from their suppliers at "cost" and then make a fantastic "mark up" when they sell it to the patrons at the event warmed the cockles of my heart - financial intelligence in its rawest form - "Buy Low - Sell High" and make a healthy profit!!!!

Anyway, for the rest of the night I just sat their with this silly grin on my face, because it was so heartening to know that those lessons taught all those years ago had paid off.

What are your thoughts on the importance of our children becoming financially intelligent?

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