A lesson for your children: money doesn’t smell

A lesson for your children: money doesn’t smell

Here are some money tips for the three ages of growth

A lesson for your children: money doesn’t smell

‘Pecunia non olet’ – money doesen’t smell –  is a sentence attributed to the Roman Emperor Vespasian. Apparently, he imposed a urine tax and, in response to his son’s complaints about the disgusting nature of the tax, he held up a gold coin and asked him whether he felt offended by its smell. The answer to this was ‘no’, hence the famous proverb ‘pecunia non olet’, which is still used today to imply that the value of money is not tainted by its origins.

As a proverb, why is it still relevant?

We are still victims of outdated myths and ways of thinking when it comes to money. This affects the way we teach our children to manage finances. That is way we have to work on ourselves first if we want our children to be financially literate.

Form one generation to the next, it has become commonplace that money is “dirty”. It is our duty to stop this transmission chain. One of the goals of One Million for My Daughter consists in  align beliefs, behaviors, and values related to finances so as to make them consistent and therefore transferable to your children in the three stages of their growth.

Money tips and the three ages of growth

A good relationship with money can be summarized with the expression: “money is a good servant and a bad master”. To put this in other words, it is always better to live in abundance, rather than in narrowness but, at the same time, associating happiness to wealth is absolutely wrong.

Your goal must be to approach this subject like any other, simply learning the strategies that can get the best results, in order to create happiness, abundance and harmony in your life and that of your loved ones.

How to pass this attitude to your children, too?

1) In the age of rules (0-7 yo): make them understand how the habit of small periodic savings can be valuable.

2) In the age of imitation (8-13 yo): show them, through example, how we are putting rule n°1 into practice.

3) In the age of inspiration (14-21 yo): make them understand the effectiveness of those behaviors.

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