You Need to Have This Talk With Your kids, But it's Not The Talk You Think!

[00:00:00] Proverbs 22.6, Train up a child the way he should go and when he is old, he will not depart from it.

[00:00:09] So guys, including your children in business now is a long-term investment in their character and success for the rest of their lives.

[00:00:19] The earlier you install responsibility, the more likely they are to carry these values throughout their lives.

[00:00:27] Nothing is better than that.

[00:00:33] Uh, no.

[00:00:37] Ooh, that's better, right babe?

[00:00:39] Yeah!

[00:00:41] Yeah.

[00:00:44] She founded an architectural concrete company.

[00:00:46] He founded a hundred million dollar clothing company.

[00:00:49] She took the world by storm as a social media star.

[00:00:52] He took the world by storm as a famous serial entrepreneur.

[00:00:56] Together we started a business.

[00:00:58] And had babies.

[00:00:59] Now we're figuring out the best ways to do both.

[00:01:01] Join us as we learn from other entrepreneurs going through the same life struggles.

[00:01:07] As they share their life hacks about success, love, kids.

[00:01:11] And everything in between.

[00:01:12] Everyone can tell you the risk, but an entrepreneur sees the reward.

[00:01:18] Quote by Robert Kiyosaki.

[00:01:20] Don't be intimidated by what you don't know.

[00:01:25] That could be your greatest strength.

[00:01:28] Quote by Sarah Blakely.

[00:01:30] Likely.

[00:01:31] Welcome to this week's episode of the Pretty and Punk Podcast.

[00:01:35] My name is Dan Caldwell, and I'm here with my beautiful wife and co-host...

[00:01:40] Ildiko Ferenzi.

[00:01:42] Hi, you guys.

[00:01:43] We missed you.

[00:01:44] Yeah, we had a lot going on this week, but we still have a great podcast for you guys.

[00:01:48] And it's about that talk that every parent needs to be having with their kids.

[00:01:54] But it's not the talk that you think.

[00:01:56] It's the talk that we think you should have with your kids.

[00:02:01] But before we get into that...

[00:02:03] Before we jump into that...

[00:02:05] Hey guys, we hope you're enjoying today's episode of the Pretty and Punk Podcast.

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[00:02:31] If you share this episode on social media today, don't forget to tag us.

[00:02:35] We want to celebrate you because we know it's not easy being a parent in business.

[00:02:40] And the way that you juggle things makes you a superhero.

[00:02:43] That's worth a shout out.

[00:02:45] Together, we have a community of our personal followers as well.

[00:02:49] And we just want to put it out there.

[00:02:50] We want to show everybody that this juggle is possible.

[00:02:54] And you are our family.

[00:02:57] And we're so proud and grateful to have you a part of this family.

[00:03:02] So don't forget, all the links are below in the show notes.

[00:03:08] And thank you again.

[00:03:09] And let's get back to the show.

[00:03:11] So listen, teaching your kids the value of hard work and responsibility starts young.

[00:03:17] It has to start young.

[00:03:19] Especially with everything going on in the world right now.

[00:03:23] When you include them, your children, in the family business, you're not just helping them grow skills.

[00:03:32] You're building leaders with confidence, independence, and a sense of purpose.

[00:03:38] And these are talks that we need to have while they're babies.

[00:03:42] We need to have them in the environment that we're dealing with.

[00:03:48] I feel so strongly about this.

[00:03:51] Yeah.

[00:03:51] And every parent's not going to have a business to actually show them firsthand how things work.

[00:04:03] So what we encourage and what we did with Daniel early on, because we were in the midst of selling a business and starting another business.

[00:04:12] So we did show him.

[00:04:14] He did have, it was early on in that one business.

[00:04:16] Yeah, he was always involved.

[00:04:17] We had him shipping and doing some stuff.

[00:04:19] But there's other things that you can do.

[00:04:21] So don't feel, don't get hard on yourself.

[00:04:24] When you go for dinner, don't just, I mean, we, and I'm not judging anybody out there.

[00:04:31] This is just a very mindful choice that we've decided to do, mostly because of myself.

[00:04:39] When we go to a restaurant or we're in the car, we're not watching anything.

[00:04:44] There's no tablets.

[00:04:46] There's no phone use.

[00:04:48] When we go for dinner, our kids are there with us.

[00:04:52] Okay.

[00:04:52] They're included in the conversation.

[00:04:55] They are to ask for things that they need.

[00:04:59] And even during the dinner, they order for themselves.

[00:05:04] They're having conversations with the owner of the restaurant, if we can track them down.

[00:05:10] They share the things that they loved about dinner.

[00:05:14] So you can really work on communication skills with your children.

[00:05:18] Also, the way that those people feel in the restaurant,

[00:05:24] you want to encourage your children to be able to lift someone's soul.

[00:05:31] You don't, I can't even express the joy in the chef's eyes or the owner of the restaurant

[00:05:38] when these little kids come and engage with them.

[00:05:42] Or maybe they go up to the, of course, they're always in, in eyes.

[00:05:48] Because, you know, we can, we can see where we make sure that they're safe.

[00:05:52] Let's put it that way.

[00:05:53] They're in eyesight.

[00:05:53] Yeah.

[00:05:54] Yeah.

[00:05:54] They're in eyesight of us, but they go ask for a water or just encourage them.

[00:06:00] Or if you're at the bank, encourage them to speak to strangers.

[00:06:06] Encourage them to speak to strangers and start getting comfortable with communicating with

[00:06:13] people in the real world.

[00:06:15] Of course, safely.

[00:06:18] And, you know, we're, we're always with our children, but I can see when they go communicate

[00:06:27] with people.

[00:06:27] Yeah.

[00:06:28] We, we want them in front of people having these conversations.

[00:06:31] So they start to feel comfortable.

[00:06:33] And we knew, we knew, and that's why Daniel, that's the true reason I, well, I think early

[00:06:39] on why we felt Daniel would be a speaker because he was so good at it that we just, we saw him

[00:06:46] speaking to people and changing people's lives because people would come up to us and tell

[00:06:50] us, wow, your son, he's so, he communicates so well.

[00:06:55] And I've never met a three-year-old that talks like that.

[00:06:59] And, and so that I think is the step number one.

[00:07:01] But then I think you have to get to step the next step, which is that conversation about

[00:07:07] how business works.

[00:07:08] Yes.

[00:07:09] Because so many parents, you know, it's not, it's, it's not a curriculum in school.

[00:07:15] So nobody's going to teach your kids this.

[00:07:17] So if you're expecting your kids to learn this in school, if your kids go to regular

[00:07:20] school, they're not going to learn it there.

[00:07:23] And if you think that they're just going to, yeah, they're just not.

[00:07:27] And if you think they're just going to pick it up around you, even if you have your own

[00:07:31] business, even if you own your own business, you're running a company, whatever you're doing,

[00:07:37] they're not going to pick it up unless you tell them, you literally explain it to them.

[00:07:42] So I know that we sat Daniel down and one day and just had this conversation.

[00:07:48] Well, when Destiny was old enough too, and, and had this conversation about how business

[00:07:55] works, you know, what, what you need to do when you start to create a business, because

[00:08:00] we wanted him to have open, I call it walking around with your eyes open.

[00:08:04] I tell this to some, you know, to entrepreneurs when I speak to them about how it, you know,

[00:08:09] anybody comes up to me and says, Oh, I'm trying to figure out what business I want to start,

[00:08:13] what I want to do.

[00:08:14] I said, you need to walk around with your eyes open and look for problems that you can solve

[00:08:19] where you can create value in the world.

[00:08:23] You can look at something and you go, and you just, and now you see like even just a few

[00:08:27] minutes ago, I'm not even gonna say the business.

[00:08:29] I wish I could say the business because I think we might start it, but you know, just

[00:08:34] like even a few days ago, we had this conversation about an idea because we had saw a video and

[00:08:41] we saw the problem and we were thinking like, yeah, that's a problem for us too.

[00:08:46] And I know the solve, I know how to fix it.

[00:08:49] It's this product would fix that problem.

[00:08:52] And you just start them thinking differently at a young age, always how to bring value and

[00:08:58] what you can do differently.

[00:09:00] Yeah.

[00:09:00] How can you look at something?

[00:09:02] And when they see a problem, ask them in a question, how could you fix that problem?

[00:09:09] What would, what could you create to fix that problem?

[00:09:12] And it's not necessarily a business you have to jump on, but you want their minds thinking

[00:09:17] in a certain way at a young age.

[00:09:20] So it's not a shock when they're older and they need to be responsible.

[00:09:26] They need to have responsibility at a young age in being included in a variety of different things.

[00:09:35] And also what we have done in our family is they buy their own things and it doesn't necessarily

[00:09:45] have to be through, of course, this podcast.

[00:09:48] This is, they feel it's their business because they are included.

[00:09:52] They help with the edits.

[00:09:54] They help with the quotes.

[00:09:55] They close out.

[00:09:57] They open up the show with us.

[00:09:58] So this is our family business.

[00:10:01] Daniel has his speaking career.

[00:10:04] That's his separate business and destiny's getting there too.

[00:10:08] But also there's little things that you guys can do.

[00:10:14] Find the things around the house.

[00:10:16] And Daniel and destiny have a boutique and they sell their, their clothes that they've grown

[00:10:23] out of their toys that, and I always get, cause Daniel is a boy and sometimes he will

[00:10:30] break things.

[00:10:31] And I explained to him, be careful with your things.

[00:10:34] He breaks things a lot.

[00:10:35] Late, just lately, just lately.

[00:10:37] He's been playing with things rougher, but I want to bring that to his attention where

[00:10:43] it bothers him when people waste food.

[00:10:47] Cause he understands we do the shopping together.

[00:10:51] He understands how much food costs and he understands right now it's more expensive.

[00:10:56] And I have these conversations when I'm checking out, we're talking about how, come on guys.

[00:11:04] I mean, everything is so expensive right now, everything.

[00:11:08] And he hears it.

[00:11:09] So he gets frustrated when people waste food.

[00:11:13] So he's very careful when he orders or when we cook things, he wants to just really portion

[00:11:19] things right.

[00:11:20] He told me tonight he couldn't finish his hamburger.

[00:11:22] He had a bite left.

[00:11:24] He goes, dad, can you eat this?

[00:11:25] So we don't waste it, which is so sweet.

[00:11:28] And it's just such a nice thought because I've seen kids that order and they just leave

[00:11:33] it there.

[00:11:34] They have no concept of money.

[00:11:37] Their parents work so hard, but they haven't been having these talks.

[00:11:41] And I could see how it's a little bit of a heartbreak because that stuff was expensive.

[00:11:49] It doesn't matter how much money you're making.

[00:11:52] Let's be honest.

[00:11:53] It is expensive.

[00:11:54] It is an investment.

[00:11:55] It is a lot of stuff that you're putting out to feed your family.

[00:12:01] So anyway, I want him to be more careful with the toys.

[00:12:04] And I remind him, hey, you do sell these things.

[00:12:08] Be careful because once you break it, the value is gone.

[00:12:12] It's gone.

[00:12:13] It's trash.

[00:12:13] And the sad part is that nobody will be able to play with it after because he does understand

[00:12:21] the good deed.

[00:12:22] We're not selling these things for, you know, it goes to people that are not able to buy something

[00:12:32] brand new.

[00:12:33] Yeah.

[00:12:34] And he understands that.

[00:12:35] I mean, we're selling it for nothing.

[00:12:37] For nothing really.

[00:12:37] But we want them to go through the process.

[00:12:40] And I do want them to be able to purchase new things from that.

[00:12:46] Yeah.

[00:12:46] That's important.

[00:12:47] And it's a great business for any of the kids.

[00:12:49] And everybody has stuff in their garage.

[00:12:52] Five miles.

[00:12:53] In the storage.

[00:12:54] I'm encouraging Dan.

[00:12:56] I go, you got all these storage.

[00:12:57] Like, go through this stuff.

[00:12:59] I'm saving that stuff.

[00:13:00] I'm selling all my stuff.

[00:13:02] I'm saving that stuff.

[00:13:03] And the kids are going through it.

[00:13:05] And it is so helpful that they are, do you need this?

[00:13:10] Well, what do you think?

[00:13:11] Do we need that?

[00:13:12] No, we don't really need this.

[00:13:14] And I love that idea.

[00:13:15] I don't ever want them to become pack rats and not be able to just get up and move.

[00:13:22] What are you trying to say?

[00:13:24] Yeah, you're a little bit of a holder.

[00:13:26] I'm not a pack rat.

[00:13:27] I'm saving important stuff.

[00:13:29] It's okay.

[00:13:29] It's in the storage.

[00:13:31] One day you'll be able to part with it.

[00:13:33] But what I'm saying is I would never want them to feel like they can't go anywhere because

[00:13:39] they have this abundance of stuff in their home and they feel like it would be, oh, there's

[00:13:46] just so much stuff to move.

[00:13:48] We're teaching them the skills to be able to sell things and learn how, you know, what

[00:13:53] problem are you solving there when you have a storage full of stuff that can be sold

[00:13:59] that has value and, I mean, like, what would you pull out yesterday?

[00:14:04] Well, Gary Vee talks about it too.

[00:14:06] I mean.

[00:14:06] A lot of people.

[00:14:08] It's like there's great stuff in there and it can be sold and it can be transferred for

[00:14:11] money and they understand that.

[00:14:13] Yes.

[00:14:13] They see the value in that.

[00:14:15] Yes.

[00:14:15] And so, you know, what problem are they solving there?

[00:14:17] They're clearing out our storage for us and it's a problem for people.

[00:14:23] They're going to be more careful with their toys because they understand, hey, just because

[00:14:28] I'm done with it, this is going to be good for someone else and they're going to love it.

[00:14:32] And they get it.

[00:14:33] They learn that what problem are you solving for other people?

[00:14:36] Well, you're putting out there, you know, a new product or toy that's affordable at a

[00:14:43] better price.

[00:14:43] Exactly.

[00:14:44] And these kids are happy and you're making other people happy and they learn the value

[00:14:48] of creating money and how you create money and, and, and, and we, we, you need, we teach

[00:14:53] them that, you know, there's sometimes we'll ask them or not so much, maybe destiny here.

[00:14:59] Daniel knows, but, um, we'll ask them what is, you know, what's the difference in these

[00:15:05] two types of businesses or what is this a product based business or a service based

[00:15:09] business?

[00:15:10] Right.

[00:15:10] Yeah.

[00:15:10] And we want them to, you know, to understand what are the differences and how they work

[00:15:15] and, and so that they understand how to create those types of businesses if they wanted to.

[00:15:21] Right.

[00:15:21] And just introducing that, introducing them to different businesses, because I feel you

[00:15:27] want to be able to try different things.

[00:15:30] You don't want to just have this.

[00:15:33] I think it would be so overwhelming to go through life and just not understand your different

[00:15:41] options.

[00:15:42] Well, they're going to fail.

[00:15:43] They're going to fail.

[00:15:44] You know, they're going to create a business that fails.

[00:15:46] I would say lessons.

[00:15:47] They are going to.

[00:15:47] Well, that's what I mean.

[00:15:49] Then they're going to get lessons.

[00:15:50] They're going to learn lessons from that and you have to be able to fail.

[00:15:55] So they have to understand that they need new ideas so that, you know, you're not going

[00:16:01] to just have one idea in the world.

[00:16:03] I have an idea.

[00:16:04] I, I, for those of you who have an iPhone, I have a notes page of just ideas.

[00:16:09] When I come up with some crazy, stupid idea, I have like 50 ideas on there that have just

[00:16:16] come to me.

[00:16:17] And sometimes I give them out to people.

[00:16:18] Have you thought about doing this?

[00:16:20] Or have you thought about that?

[00:16:21] Or that sometimes when we're talking about, you know, maybe we should create a new business

[00:16:25] or, or yeah, when we're coaching people, we'll give them an idea or something, you know,

[00:16:29] not necessarily give them an idea.

[00:16:30] It's almost like they, they, they already know it, but they just need that confirmation or

[00:16:37] they know they, everybody has this God given talent and it doesn't always have to be the

[00:16:43] same thing.

[00:16:44] Your God given talent and your, um, your journey is going to change many times in your life.

[00:16:50] So never ever feel like, oh, I was supposed to do this.

[00:16:54] And now it's going to change.

[00:16:56] It's going to change in so many ways.

[00:16:59] And now I feel it's changed so many ways for us so many times.

[00:17:03] And now this is where I feel we're supposed to be to increase other people's lives around

[00:17:11] us just by sitting here and sharing our, our life and encouraging people that they can increase

[00:17:21] lives by just sitting there, creating an online business or, or even, even coaching with the

[00:17:28] things that they've gone through in their lives rather than look at it.

[00:17:32] Like, uh, wow is me or woe is me.

[00:17:35] I'm, I'm a victim.

[00:17:37] No, you're a victor.

[00:17:38] And now you have the roadmap, just like we have the roadmap, the manual to help other people

[00:17:44] and pick them up off the ground because they don't know what to do right now.

[00:17:48] Yeah.

[00:17:48] And, and I mean, it's hard, it's hard to sometimes explain that type of stuff to kids, but they

[00:17:54] learn.

[00:17:54] I think they understand.

[00:17:55] They understand when we talk about it and they ask questions and, and I think it's just

[00:18:00] really more about having those conversations in front of your kids so that they start to

[00:18:06] get it.

[00:18:06] They start to put all these pieces together because I mean, the first time we had that

[00:18:10] conversation with Daniel, I think it was like a, he was pretty young and, and I don't

[00:18:15] think he quite got the whole idea at the very beginning, but he understood selling, he understood

[00:18:20] service-based businesses.

[00:18:22] I feel like if you can tell a great story that explains what you're, you know, trying

[00:18:28] to, to teach them, there you go.

[00:18:32] They love stories.

[00:18:33] Children love stories.

[00:18:35] They're very visual.

[00:18:36] And they, if you can do that through stroll, storytelling, they can, they can grasp any

[00:18:43] concept and really at a young age.

[00:18:46] Yeah.

[00:18:46] I remember telling Daniel, um, because I thought it was a good story for him is when I was,

[00:18:50] well, I didn't tell him exactly like this, but I'll tell it like this to you guys.

[00:18:53] But when I, when I, uh, when I was about 19 years old, I was a, I was a bouncer for an

[00:18:58] underage nightclub and there would all be all these kids in there back when like raves

[00:19:03] were big and everybody's dancing and they're all, they got crazy hair and they're wearing

[00:19:07] all these crazy clothes.

[00:19:09] And we didn't talk about raves with him.

[00:19:11] Well, no, I didn't tell, I didn't tell him like this, but I just tell him I was working

[00:19:14] at this place and it was really hot in there because they didn't have an air conditioner.

[00:19:19] And so we, me and my partner, who both turned out to be police officers later, we, uh, we

[00:19:26] asked the guy who owned the club if we could start a shaved ice business in there because

[00:19:31] we knew just with all the colors and all these kids were in all these crazy colors and their

[00:19:35] hairs are different colors.

[00:19:36] Thought what a, what a, it'd be great to put this snow cone business in there and, uh, because

[00:19:42] it would cool everybody down and we could sell these snow cones.

[00:19:45] And so this, so the guy let us open up a snow cone business and there basically we had to

[00:19:50] pay him.

[00:19:51] He said that we, he was going to lose out on the sale of a Coke every time we sold a

[00:19:54] snow cone.

[00:19:55] So we just had to pay him the price of a Coke, which was like a dollar 50 or two bucks

[00:20:00] and pay him that every time we sold the snow cone.

[00:20:03] So we sold the snow cone for like five bucks.

[00:20:04] We had to pay him whatever the cost of the snow cone was hardly anything.

[00:20:07] And I told, and I was telling Daniel this story, but what happened, but that's when we're

[00:20:13] creating value.

[00:20:14] We don't drink pop and we don't have the, the dyes, but Daniel, that's back in the day

[00:20:22] when daddy didn't know any better.

[00:20:24] I'm telling him that's not the purpose of the story.

[00:20:27] So I'm trying to keep him focused on what we're talking about.

[00:20:30] And so what we're talking about is value here and, and, and where there was, where

[00:20:36] you needed to create, you know, fix a problem.

[00:20:39] And there was a problem here because it was hot and people were hot and they needed to

[00:20:44] stay cool.

[00:20:44] And this was a great idea or we thought it was anyways, until the manager, the owner

[00:20:51] decided to get the best air conditioner on the market, the biggest air conditioner on

[00:20:57] the market and it literally froze the place out.

[00:21:01] And our sales went to like, you know, less than half of what we were selling before.

[00:21:08] And they thought we were probably a little overpriced or something, but I was trying to

[00:21:11] explain to Daniel the, you know, why it was a good idea when we started, but it wasn't

[00:21:18] such a good idea later and how you can always look at situations.

[00:21:23] And then you pivot, you can pivot.

[00:21:24] Yeah.

[00:21:24] And you pivot at that point.

[00:21:25] Well, we pivoted by going out of business.

[00:21:27] But we, but it was, uh, you know, it was just a minute of our lives, but if we thought

[00:21:32] it was a great idea at the time and you've, we solved that problem at that moment.

[00:21:36] But then after six months, you know, we became obsolete because they didn't need us anymore.

[00:21:44] Yeah.

[00:21:44] But those are the things you have to look for when you're, when you're starting a business

[00:21:49] and we want him to see those in opportunities.

[00:21:53] We want him to see those opportunities and things that other people don't see, because

[00:21:58] that's the key.

[00:21:59] When you see an opportunity, when other people don't see it, that's the key.

[00:22:04] Yeah, that's true.

[00:22:05] That's how, that's how Elon Musk saw the opportunity of SpaceX when he decided that people, we needed

[00:22:13] to get satellites into space.

[00:22:14] Yeah.

[00:22:15] And the cost that NASA was, the cost of sending, uh, uh, NASA built rockets into space that

[00:22:23] couldn't be reused was, was, was driving the price way too high for anybody to send, send

[00:22:29] up these satellites where he believed that if we, if we privatize that and we created rockets

[00:22:36] that could be reused, that we could bring that cost down like one 10th the cost, you know,

[00:22:42] significantly.

[00:22:43] So that's what he did.

[00:22:45] And Elon Musk was smart enough to see those values in things.

[00:22:50] And, and we want our kids to see value and where you can create value in different, you

[00:22:58] know, opportunities.

[00:22:59] Right.

[00:23:00] In different situations.

[00:23:01] Right.

[00:23:01] And I love that.

[00:23:02] And I love the fact that you too can share your stories.

[00:23:07] If you have any entrepreneurial stories of way back in the day, I love telling my kids

[00:23:14] that of course I worked in my mom's shops all my life and I started the business at 13.

[00:23:23] It was my own business.

[00:23:24] I did everything.

[00:23:25] I bought the, the stock.

[00:23:28] I, I did the inventory.

[00:23:30] I did the books.

[00:23:31] I had all that responsibility.

[00:23:34] And that was something that she taught me at a young age.

[00:23:38] But I do remember being around seven, seven.

[00:23:42] I think it was about seven years old and there would be a festival and it would shut down the

[00:23:48] streets where our shop was.

[00:23:51] And I was walking around, I was in the beauty pageant.

[00:23:54] And then I would see people selling stuff and I was like, how exciting.

[00:24:00] I want to sell some stuff.

[00:24:02] So my mom's friend was painting strawberries on little mailboxes and vases.

[00:24:13] And there was, everybody was selling something.

[00:24:15] It was a little fair.

[00:24:16] And then I saw face painters and I saw a ton of kids.

[00:24:19] And I was like, oh, I can, I can do, I could do face painting.

[00:24:24] But I didn't really know what I could paint on them, but it was a strawberry festival.

[00:24:30] So I asked Irene, my mom's friend to teach me how to, to paint a strawberry.

[00:24:38] And I started very quickly within the hour.

[00:24:42] She gave me a little table in front of the store and I put up my own sign, $8 for one

[00:24:51] strawberry or two for five.

[00:24:53] That was the price.

[00:24:56] And, oh no, sorry, sorry, sorry.

[00:24:59] It was $8 for one strawberry or two for 10.

[00:25:04] And I knew everybody would get the 10.

[00:25:06] So the $10.

[00:25:08] So I just blew it out of the park because honestly, listen guys, nobody says no to a child.

[00:25:14] And I just learned from the local artist how to paint the perfect strawberry.

[00:25:20] I have to find it because my picture was even in the newspaper.

[00:25:24] It was for the beauty pageant, but I painted the strawberries on my cheeks and I was painting

[00:25:31] the strawberries for the kids.

[00:25:33] And then the local newspaper came and I was on the front page of the paper.

[00:25:38] And we still have that picture.

[00:25:40] Yeah.

[00:25:40] So I'm just saying like, just share your stories with your kids.

[00:25:45] And I made $500 and it was just a fair.

[00:25:48] It didn't last.

[00:25:49] It was just for the weekend.

[00:25:50] But every year I looked forward to that and it sparked something else within me.

[00:25:56] So yes, I was working in the store.

[00:25:58] Then I had my own business, but it just sparked this creativity.

[00:26:03] I don't think I would have been able to figure this out on my own.

[00:26:08] And my mom, I think now being a mom, she was very, like, she didn't say no, but I could

[00:26:16] see her looking at me in a way.

[00:26:18] And I now recognize that look when I look at my own kids.

[00:26:23] So really just encourage them to be creative.

[00:26:27] They're going to come up with businesses and don't shut it down.

[00:26:30] Just let them do it.

[00:26:32] Let them try it.

[00:26:33] If it doesn't do anything, it's okay.

[00:26:35] It's a, it's a, it's a opportunity to have a lesson, you know?

[00:26:42] For them to learn.

[00:26:43] I mean, we saw where was, what was that little kid talking about?

[00:26:46] Oh, he took, he took their trash cans out for, on the block.

[00:26:53] So everybody has to have their trash cans out on a Monday or Tuesday or Wednesday.

[00:26:56] He would bring out their trash cans for them on the day.

[00:26:59] So he would get up real early, come out and, or at night whenever he did it.

[00:27:04] And he would come take their trash cans out every, every week.

[00:27:07] So they didn't have to go out there and do it.

[00:27:09] And then he'd bring them back up at the end of the day.

[00:27:13] And so that was his business.

[00:27:14] And I don't know what he charged for it, you know, five, 10 bucks or whatever he charged

[00:27:18] a week.

[00:27:19] And, uh, and he would take, take trash cans out and bring them back up.

[00:27:22] And then people didn't have to worry about bringing their trash cans out or forget,

[00:27:25] you know, have you ever forgot when your trash cans have to go out, you go running out there,

[00:27:29] you know, it's like, so they, they didn't have to do that.

[00:27:32] So what a great little business or selling stuff.

[00:27:35] I was just encouraging, um, uh, my, uh, nephews to start their own like eBay business where

[00:27:43] they go around and talk to their neighbors and say, Hey, I'll, I'll sell whatever you

[00:27:47] have a value on eBay for you.

[00:27:50] And, and I'll collect the money and we'll split the profits or split the money.

[00:27:55] And, uh, I'll take out the money and you'll take out the money.

[00:27:58] And it's a great business because people sometimes, you know, these things they want to throw

[00:28:01] away anyways, but the fact that you could sell them on eBay and get, get, you know, a decent

[00:28:05] dollar for it and then split the money with you.

[00:28:08] And you, all you have to do is basically handle the eBay account.

[00:28:11] I mean, what a great little business for young adults, you know, for 10 year olds, 12 year

[00:28:16] olds, uh, even younger.

[00:28:18] Yeah.

[00:28:19] Just with technology, it makes it so easy to do that stuff.

[00:28:23] But another thing I want to talk about is where the money goes after the kids earn it.

[00:28:29] You know how it's, I think it's important to let them realize that it's not just about

[00:28:36] making the money.

[00:28:36] It's about that they need to start paying for some of the things that they want.

[00:28:43] They want that they want in life.

[00:28:46] You know, if somebody, if they want a certain toy or a certain thing that sometimes that

[00:28:51] they can cover those costs.

[00:28:53] And so we just encourage you to create some sort of, you know, and it, and teaches their

[00:28:58] own, you know, every parent's going to have their own way of doing things where they,

[00:29:01] uh, want to, you know, pay them for extra activities.

[00:29:07] Like we pay, we, uh, give our kids a few dollars for reading books and yeah.

[00:29:14] And they also with the selling of the old clothes, they're able to buy new clothes, the selling

[00:29:18] of the old toys are able to buy new toys.

[00:29:21] So I think it's just a beautiful thing and it saves, saves me money, saves us money.

[00:29:27] And those are things that you can incorporate.

[00:29:29] And the older they get, they can help pay for food.

[00:29:33] They can help pay for more expenses and more responsibility because I mean, you don't want

[00:29:40] to be paying for everything.

[00:29:41] And then all of a sudden they don't even understand how to deal with it when they're out of the

[00:29:48] house.

[00:29:48] If they're ever even going to want to pay, leave.

[00:29:51] They need to learn the value of things.

[00:29:53] And so that, because it's so often today, they don't see how hard it is to create money.

[00:30:02] And it's dangerous to just give them credit cards.

[00:30:06] So it's just sliding the cards.

[00:30:08] They never see us exchange money.

[00:30:10] And it's so scary as parents.

[00:30:12] We don't want to raise entitled kids at all.

[00:30:16] No, we want them to be able to be self-sufficient and be able to do things for themselves.

[00:30:22] When I was 14, my mom signed for a credit card, but I understood the responsibility behind

[00:30:29] it.

[00:30:29] And I understood how hard she worked.

[00:30:32] And she said, without credit, you are nothing in this world.

[00:30:36] So we need to start you young.

[00:30:40] I bought my own car.

[00:30:42] And then later, you know, when things were a little better for me, I was able to purchase

[00:30:51] my own vehicle, a brand new sports car.

[00:30:54] But she signed for me, but she understood if this, if you miss a payment, that's going

[00:31:03] to ruin my credit.

[00:31:04] But I trust you.

[00:31:06] I trust you.

[00:31:08] And I know that you would not do that because I'm signing for you because I want you to have

[00:31:13] the freedom and I want you to understand the responsibility.

[00:31:16] And I paid off that car by myself, all my mortgages, all that stuff that she taught me at a young age.

[00:31:25] I mean, they don't teach that stuff in school.

[00:31:29] And you don't, I feel like some kids don't, won't even understand what could potentially

[00:31:36] happen if you don't take care of those things.

[00:31:40] And once you lose that trust from the bank or wherever you're getting your lease or your

[00:31:47] mortgage from, it's over, it's done.

[00:31:49] So they need to understand the weight of that responsibility at a young age.

[00:31:55] Do not even, even if you fall into money and, and you want to give them everything that

[00:32:02] you've never had.

[00:32:03] That is so dangerous.

[00:32:05] It is so dangerous.

[00:32:07] You have to be so careful.

[00:32:10] And I know that we all as parents want to do that, but if you raise entitled kids, it's

[00:32:17] so dangerous for them.

[00:32:19] And if you don't, um, you know, teach them how to, to create a great life for themselves.

[00:32:26] Yes, you can leave them money, but that is going to also be damaging because they're going

[00:32:33] to spend it all.

[00:32:34] They don't understand.

[00:32:35] It's going to be gone.

[00:32:36] So don't leave any money for the kids.

[00:32:39] Give them the understanding of how to build a business, how to build the credit and how

[00:32:48] to do the things that they need to do because then they will be a hundred percent.

[00:32:54] Okay.

[00:32:55] In life.

[00:32:55] I think it's a Bruce Lee's quote.

[00:32:57] Um, and, uh, I hope I don't butcher this, but don't give them the things that you didn't

[00:33:03] have.

[00:33:03] Teach them the things you didn't know.

[00:33:06] Yes.

[00:33:06] And I love that quote.

[00:33:08] It's been a while since I heard it.

[00:33:09] I'm surprised I remembered it.

[00:33:10] But it's, uh, I mean, that, that is exactly what we want to do with our kids because it's

[00:33:16] so easy.

[00:33:17] Everything in us wants to, when you finally make money to, to be able to give your kids

[00:33:23] all the things that they didn't have.

[00:33:24] And they are going to have things that we didn't have, you know, because they're growing up

[00:33:29] in a different environment.

[00:33:30] Yeah.

[00:33:30] And it's so easy nowadays to make money, but if you just give them a pile of money, they're

[00:33:35] going to, they're going to get surrounded with the wrong people.

[00:33:38] They're going to, they could potentially become addicts or they would get hooked up with the

[00:33:44] wrong person.

[00:33:45] Oh, uh, people are waiting for people to die just so they can have money.

[00:33:51] It's ridiculous.

[00:33:52] No, go build your own stuff.

[00:33:54] You have the brains, you have the, the health, you have the physical ability.

[00:33:59] Go build some stuff for yourself.

[00:34:01] And I remember that's, that's exactly what my mom did.

[00:34:06] And that's what all the people that we surround ourselves with that are empowering their children

[00:34:15] with.

[00:34:15] Yeah.

[00:34:16] We did a podcast in the past that we're taking it all with us or something.

[00:34:19] What was the name of that podcast?

[00:34:20] We're not leaving nothing for our kids and not that they're not.

[00:34:23] The knowledge, the knowledge.

[00:34:24] The knowledge is there.

[00:34:26] We're going to give them all the tools that they need.

[00:34:27] They're going to figure it out.

[00:34:29] And, and why we're here, they're going to learn.

[00:34:31] And, and of course we're not going to, we're not going to let them live on the streets.

[00:34:35] But if you have the tools, you will never live on the streets.

[00:34:39] And just like everybody that's made it and they've learned the hard lessons, they can do

[00:34:47] it again and again and again and again.

[00:34:49] They just need to know that we're not going to carry them.

[00:34:53] No, absolutely not.

[00:34:54] They have to figure it out.

[00:34:56] We're going to make them do the hard work.

[00:34:58] They're going to, they're going to have to read their way through it and learn their way through it.

[00:35:02] And I, I don't even like to say hard work because hard work, if you understand it, it is such

[00:35:10] a joy.

[00:35:10] It is such a joy to be of service to other people and, and solve problems and do.

[00:35:17] Oh, I get that.

[00:35:18] But they need to be prepared for hard work.

[00:35:20] Like it's not easy.

[00:35:22] It doesn't come easy.

[00:35:23] No, but it is, it is rewarding.

[00:35:24] It's rewarding.

[00:35:25] That's what makes you want to do it.

[00:35:27] You are proud of yourself.

[00:35:29] I'm proud of my children, but I know that there is this, this, I mean, when Daniel spoke

[00:35:37] on the stage for 5,000 people, this is his business.

[00:35:40] And he was grieving his, his precious grandma and he still wanted to go up there and speak.

[00:35:49] I don't think, I don't know.

[00:35:53] I don't think I could have done it.

[00:35:55] I would have, I just want to, I just want to set his expectations.

[00:35:58] He said, no, I got to do this.

[00:36:00] I got to do this for grandma.

[00:36:02] I got to do this for me.

[00:36:04] And he's five, like four and a half, five years old.

[00:36:08] He was five years old and he had this kind of talk going on and he was so proud of himself

[00:36:16] after in front of, you know, thousands of people.

[00:36:18] I could not, could not believe it.

[00:36:22] I could not believe it.

[00:36:23] And that, that was his preparation, you know, that, that we, you know, I think he, after

[00:36:28] we having so many conversations with him or having the, you know, keeping him in all

[00:36:33] of our conversations, I really truly feel like he learned from those conversations and it's

[00:36:39] the reason why he's becoming the person that he's becoming.

[00:36:41] This isn't anything unique or anything that any child can't do.

[00:36:46] If you work with them, they can do anything.

[00:36:49] They could run a business.

[00:36:50] They could, they could do speeches.

[00:36:52] They could do whatever you work with them on.

[00:36:57] You just, they just, you need to coach them early.

[00:37:00] You need to coach them from a young age.

[00:37:05] And as they start, as they start creating money in whatever they're doing, it doesn't have to be a lot, but, you know, help them start to understand that they need to save some money.

[00:37:15] They need to have a spending account.

[00:37:18] Kind of like what would be today are checking accounts.

[00:37:21] They need to have a savings area, a savings account.

[00:37:24] And then we feel like that you should have a tithing or a charity account, you know, something that you can use to give back to your church, give back to people.

[00:37:33] How can you help other people with that money?

[00:37:35] And we feel like that's super important.

[00:37:38] Yeah, because that's a really good feeling in the heart too, when you give.

[00:37:41] And then of course, you know, there's always bigger lessons around financial literacy, like how debt credit works.

[00:37:48] We're going to have to do a whole other part.

[00:37:50] But, you know, that's all.

[00:37:52] Start with these things first.

[00:37:55] Just start including them in the conversation.

[00:37:57] Make sure because nobody else is going to teach that to them.

[00:38:00] There's nobody else out there coming to save them.

[00:38:04] You have to be the one that steps up.

[00:38:07] Sit them down like a regular class.

[00:38:09] Sit them down on the couch and just talk them through it.

[00:38:13] Bring some visuals.

[00:38:14] Show them some ideas.

[00:38:16] Have fun with it.

[00:38:16] Tell some stories.

[00:38:17] Have fun with it.

[00:38:17] Yeah, just really have fun with it.

[00:38:20] And role play.

[00:38:22] When they're younger, we used to role play.

[00:38:25] And we used to do the store.

[00:38:27] We used to play store.

[00:38:29] We still role play.

[00:38:30] We do still role play.

[00:38:33] But I'm just saying when they're really young, when they're babies.

[00:38:35] Yeah.

[00:38:36] Ice cream shop.

[00:38:37] Then Melissa and Doug.

[00:38:38] And there's just so much you could do.

[00:38:41] But how long?

[00:38:42] Yep.

[00:38:43] I hope you guys.

[00:38:44] That's it.

[00:38:45] That's it.

[00:38:45] He's giving me that look.

[00:38:46] We gotta go.

[00:38:48] So thank you guys for listening to this week's Pretty and Punk podcast.

[00:38:51] We hope you guys got something from that.

[00:38:53] Take this to your kids.

[00:38:55] Yes.

[00:38:55] Put this in front of your kids.

[00:38:56] Teach your kids.

[00:38:57] Because we know how much you care about your kids.

[00:39:01] And I'm telling you, if you don't teach it to them, nobody will.

[00:39:05] And it's important.

[00:39:06] It's important that they learn this stuff.

[00:39:08] So thank you guys for joining us.

[00:39:09] And we'll catch you guys next week.

[00:39:11] God bless you guys.

[00:39:12] Thank you for joining us.

[00:39:14] Thank you so much for listening to the Pretty and Punk podcast.

[00:39:18] We hope to see you next week.

[00:39:20] Make sure to like and subscribe.

[00:39:22] God bless.

[00:39:23] I appreciate you listening to the Pretty and Punk podcast this week.

[00:39:30] I hope you got something out of it.

[00:39:33] I hope to see you next week.

[00:39:35] I'll join it to learn more stuff about the Pretty and Punk podcast.

[00:39:40] See you next week.

[00:39:42] God bless.