[00:00:00]
Genecia Alluora: Hey, gorgeous. Welcome to this episode. Now, this episode is all about the children and money. Yes, children and money. Raising the next generation of soul rich kids.

[00:00:17]
Genecia Alluora: So your kids are forming the money beliefs now. They are soaking in everything like a sponge as you are teaching them about money consciously or unconsciously. How can we ensure that they have a better money mindset than we do? So today we are going on a treasure hunt.

[00:00:39]
Genecia Alluora: What do you want to teach them? Get clear on what you want to teach your children about money. What values do you want to instill in them? Make that vision a part of your F-word life.

[00:00:54]
Genecia Alluora: Put together a "Be" do have list for your children. I mean, these aren't necessarily the things that they would want at that age, but these are the things you want for them. For example, I want my children to be global citizens. Comfortable mixing with people from all backgrounds, ethnic and income levels. Accepted into music, orchestra, team, band, the soccer, the dance, the swim team this year.

[00:01:28]
Genecia Alluora: So that's "Be," right? "Do" is do participate in regular hobby and have enough money to buy them all the proper gear tuition and give them all the extra trainings they need. Or go to Disneyland next year. Get a tutor so that they can pass their test. Have a warm comfortable home to allow them to grow up comfortably their own bank account and ask their grandparents to transfer their birthday money in each year.

[00:02:07]
Genecia Alluora: Or some of these goals will inform your own. So there are fun things to teach your children. I think this is pretty cool. There are a couple of categories that I've come up with. I hope that is something that can inspire you to put them in the right place.

[00:02:28]
Genecia Alluora: And of course, enjoy teaching your children as well. The first category is discernment and then the second category will talk about entrepreneurship. The third one will be money, income and expenses. The fourth one will be the personal development tools. So let's get started.

[00:02:49]
Genecia Alluora: So under discernment, talk to them about buying quality. About how to choose between things that last and things that give them momentary pleasure. Learning how to delay gratification will be something that you can share with them as well. Role model that behavior by decluttering regularly and only bring things into your life that brings you joy. Talk through advertising and teach them about deceptive.

[00:03:23]
Genecia Alluora: Confusing, convincing marketing techniques. Avoid over giving at Chinese New Year birthdays, special occasions, Christmas to keep buying them stuff perfect rather than of course, avoid also buying all those cheap presents to unwrap. You can buy them something really more quality and avoid buying them like all the cheap bull stuff, right? Now, have that conversation with relatives too. Sometimes it's easier than done.

[00:04:00]
Genecia Alluora: They don't even understand what we're talking about if they don't go through upgrading, watch documentaries together to see where the rubbish ends up. And they can also learn about how to deal with their life and the things with them, like the Marie Kondo series as well. Yeah, even though it's a little bit boring for the kids.

[00:04:23]
Genecia Alluora: But hey, you can watch such shows together to discuss about stuff, right? Also talk about how cheap items are mass produced and can sometimes be made unethically. Well, there are a lot of plenty age related documentaries for you to share with them via Netflix or Disney Plus, Next is entrepreneurship. Now, under this category, you can encourage your kids to start their own small business.

[00:04:53]
Genecia Alluora: For example, they can sell some of the stuff that they no longer use and form like a garage sales or put on platforms like Carousel to sell their stuff online. Consider taxing them or introduce simple accounting like charging for cost of goods. Practice playing shops and start tricky conversations like a customer asking for a refund or negotiating prices. Tell them about your business, what you do, and how you make money. Let them watch your videos and show them your books.

[00:05:35]
Genecia Alluora: Show them, let them hear your podcast, or read your blog, or even take a look at your new photo shoots. Explain that some people go to work for others and some people work for themselves. The next category is money, income and expenses. You can play Monopoly with them and talk about money.

[00:06:01]
Genecia Alluora: Talk to them about what you choose to spend your money on at home and in your business. Visit the bank to set up their own bank accounts and when they're old enough, then they can have it on their own. Explain how credit cards work. Challenge them to a coin finding competition. Encourage them to put their money into the Safe, Give and Spend buckets.

[00:06:31]
Genecia Alluora: Sometimes you can teach them to put their money into the Financial Freedom Fund, into the Education Fund and Play Fund and things like that. Teach them about delayed gratification and how they can save up for things and feel really proud of by buying their own stuff with their own money. When they see a typical greedy rich person on TV, ask them what they think about it. Have a conversation about rich. The fourth category is personal development tools.

[00:07:11]
Genecia Alluora: I feel that you can share with them and send them to programs like Psychology of Vision, Money and You. At a young age, maybe during the time when if they are teenagers, you can bring them and let them attend NLP Neuro Linguistic Programming. You can even bring them to attend Tony Robbins programs. Date With Destiny, enlighten Warrior Millionaire Investor Mine program. Allow them to be exposed at young age for their personal development.

[00:07:44]
Genecia Alluora: Would definitely allow them to be exposed about healing their money, their mindset at a younger age. I exposed myself when I was in my teens. I had someone who introduced me some programs and literally that transformed my life. So yeah, I think that is pretty cool, whatever that fits your budget and of course their development as well.

[00:08:14]
Genecia Alluora: You can also teach them affirmations like I love money and money loves me. You can show them how to use Emotion Freedom technique EFT to deal with anxiety or fear. You guys can make dream boards together. You can give them their own journal to write their thoughts and goals in. Teach them gratitude.

[00:08:36]
Genecia Alluora: Have a nightly ritual of gratitude. Most important of all as a parent be the role model. The very best thing you can do is be the role model that you can be. Your children will hear what you say but they'll remember what you do and how you make them feel. So do watch your language around money and also about freedom, financial independence and also being fabulous.

[00:09:06]
Genecia Alluora: Working on your own money blocks and learning to be empowered around money is the greatest gift you can give your kids. Show them that it's possible to make money and that you love your work and show them what a rich woman looks like. Show them what a soul rich woman looks like and that's you. So any AHA's moment from this exercise my dear, what values would you want to share with your kids? What was good about your childhood that you want to share with them?

[00:09:37]
Genecia Alluora: And teach them what were some of the bad lessons about money? Do you want them to avoid? Anyone to add to your forgiveness list? Is there anything new that you would like to tap on? Now, here are some suggested affirmations it's safe for my kids to grow up wealthy. It's safe for my kids to grow up rich. It's safe for me to show my kids about living their purpose and passion. It is safe for me to be a powerful money rule model for my children. It's safe for me to release my family legacy around money. It is safe for me to create a new legacy.

[00:10:24]
Genecia Alluora: So, this lesson are for all parents in a community but anyone who wants to have an impact on the next generation. So I hope you enjoy today's episode and of course, it's cool that we are doing this together. And you're doing awesome job and your children are so lucky to have you. Now, this is your time and you're ready for the step. Sending you my love and I'll speak to you soon.