Yesterday, I shared with you some of my notes from a seminar I attended (Raising Money Smart Kids). Today I would like to share one more thing that encouraged me as I sat through the seminar. More than the practical tips and financial advice I got, what I actually appreciated more was the fact that the whole family was involved in the event. As you sit there and listen, you would know what their family stood for. Of course, saving and making money grow were obvious interests that ran from the parents to the children, but more than financial values, you could tell that the Faustos stood for family— that family was a priority. I appreciated the fact that they not only brought their children with them to listen, and perhaps offer moral support, but all three children were actually present to also contribute their ideas on the topic.

Their eldest son, Martin.

Their second son, Enrique.

The youngest Fausto– Anton.

(I just edited and added this. Thank you Rose, for sending me a photo!:)) 

Eep! I can’t believe I wasn’t able to take a picture of their youngest son! ….But this is a cute picture of the couple, don’t you think?

I seldom see this nowadays, and so it quite refreshing and encouraging. I wish to see more parents and children involved in each other’s lives (in a positive way)— even beyond their teenage years. I hope to see more of the next generation rise up as a response to the mentoring and discipleship that occur in their homes. I am believing for more children who will grow up to embrace the values that their parents would teach them.

Of course, I also pray for the parents, that we will be the first ones who will lovingly guide and shepherd our children’s hearts. I pray that we will not need to shove our values down their throats, but that as we live our lives with integrity, they would want to embrace our faith and values as well. I pray that the things we love and believe in, would be a family affair— in agreement with our spouse, and owned by our children.

We attended a seminar last weekend on Raising Money Smart Kids by Rose Fres Fausto, author of Raising Pinoy Boys. Coming from a family who didn’t talk much about money matters, this was very helpful.

Here are some of my notes:

1. KNOW YOUR OWN MONEY VALUES.  Your values serve as the foundation for all your decisions. If what you do with your money do not agree with    your core values, there will still be no joy there.

2. HAVE CONSISTENT MONEY VALUES WITH YOUR SPOUSE. You cannot teach anything if you are not united.

3. START YOUR CHILDREN’S FINANCIAL LITERACY JOURNEY. The best time to start is as soon as they are born. The second best time to start is now.

4.  TEACH THEM THE DIFFERENCE BETWEEN NEEDS AND WANTS. Live within your means.

5. TRAIN YOURSELF TO BE SAVERS. Pay yourself first.

6. GO BEYOND SAVING. INVEST FOR GROWTH. Teach children that you don’t just save so you have something to spend. We don’t want them to think that as soon as they have the money they can just spend any way they want. Try at the very start to expose them to things where they could earn money.

7. MAKE SAVING AND INVESTING REGULAR AND AUTOMATIC. Our objective is to accumulate real wealth, and real walth doesn’t happen overnight. It is a fruit of regular, consistent, small steps. We want saving to become second-nature for our kids in terms of handling money. The idea is to make it automatic so much so that it becomes harder not to save.

8. USE EVERYDAY THINGS AS TEACHABLE MOMENTS.

9. TEACH THEM THE VALUE OF HARDWORK AND PATIENCE.

10. TEACH THEM HOW TO MAKE THEIR BALANCE SHEET (Statement of Asset, Liabilities, Net Worth).

Some extra notes:

• Work on a healthy self esteem in our children. Then the peer pressure to have the latest or nicest things will not matter that much.
• Show them that money is a tool for helping others.
• Do not overgive to your children.

What I love about attending seminars that have anything to do with teaching our kids is that it forces me to assess my character and habits first. I cannot give what I do not have; I cannot teach what I do not know; I cannot impart what I am not. I thank God for giving me tools that sharpen me and my character, helping me to be more effective in training my children.

Thank you and congratulations to Rose and her boys on a successful seminar!

Dennis and I with the speaker, Rose Fausto