Tag: Kids

Learnings

Great framework for life: Imagine life is a game in which you are juggling five balls.

Chris Labs

The balls are called work, family, health, friends and integrity. And you’re keeping all of them in the air. But one day, you finally come to understand that work is a rubber ball. If you drop it, it will bounce back. The other four balls – family, health, friends, integrity – are made of glass. If you drop one of these, it will be irrevocably scuffed, nicked, perhaps even shattered. -The One Thing, p.82 Continue reading Great framework for life: Imagine life is a game in which you are juggling five balls.

Learnings

Forget giving kids an allowance.

Chris Labs

this is a copy of Val Katayev post Pay your kids interest instead. I’ll share the system I used to engrain the power of compounding and business acumen into my kids. Here’s how it works and the results: At around the age of 2 or 3, I explained to each of my kids the concept of saving money. However, saving is not the main goal. Making sure money works for you while you sleep is the most important component. I showed them that they can let others use their money. In return they get paid for borrowing it. To make … Continue reading Forget giving kids an allowance.