why be poor when we can be rich, truly rich =)

i finished reading last week the ‘8 Secrets of the Truly Rich’ by Bo Sanchez. i happen to see his books on main display at national bookstore, and this title intrigued me. it’s really a nice year-ender read for me. i think this will be my 2008 motto, but more of that in another post. i wish for once, i could do some reflective post. =)

anyhoo, i just want to share this 1 chapter story from the book. it’s about teaching the concept of being poor/rich to the kids. i’m copying the whole story from the book:

‘Some parents ‘train’ their kids to have very small psychological wallets.
We inherit the size of our psychological wallets from our families.
I hear this dialogue a lot in toy stores…

Jr: “Mommy, can you buy this toy for me?”
Mother: “No son, we can’t afford that.”
Jr: “But Mommy, this toy is really nice.”
Mother: “Son, didn’t you hear me? We’re not rich!”
Jr: “But Mommy, I really, really like this toy!”
Mother: “For the last time some, I’m going to say it again. Get this into your skull. Your family is poor! Your mother is poor! You are poor!”

The child grows up with that label tattooed in his brain: “I’m poor.”
Unless he tears out his family label knitted into his psychology, he will always act like a poor person.
Can I suggest another kind of dialogue?

Jr: “Mommy, can you buy this toy?”
Mother: “We can buy that, but we’re choosing not to.”
Jr: “But Mommy, this toy is really nice.”
Mother: “We can afford it and can buy it right now. But because we’re financially wise people, we’d rather invest our money so that it keeps on growing.”

owkei. i agree about not using the ‘we’re poor’ excuse to kids. it’s not about giving them a false impression about your true financial state. but somehow, i feel like if we use the ‘we’re poor’ excuse, it’s giving the kids impression that we cannot really do much because we’re poor.

but somehow Bo’s alternative dialogue kind of bothers me. i’m thinking it’s too business-kind-of approach but, well, it’s nice to teach business at young’s mind. but my main problem/objection here is what if it’s the parent’s/my turn to ask something from my kids, they might give me that “we’re financially wise people, we’d rather invest our money so that it keeps on growing” BS.

until now, i’m still thinking of nice excuses/ways of turning down a kid’s plea for buying new stuffs. since migi is at this stage already.