The MAGNET Money System
provides the opportunity for real learning experiences in money management.
Setting your children up with effective money management skills and values around money is one of the most empowering legacies you can provide for your children. The younger you start them learning about money management the easier it will be for them to develop effective habits.
The Real Value of Values
Family values instilled by parents are very strong motivators for children. It is imperative that how children are taught to manage money is related directly to their family values and also their individual values. The "nuts and bolts" of money management have been available for many years. It is not the "how to" that matters most, but rather the "what's in it for me?" that needs to be considered before embarking on teaching your children resourceful money skills.
No one actually likes to be told what to do. We are always doing what we do for our reasons – not other people's reasons. When we are very young we learn by modeling other people – mostly our parents or
primary care givers. We admire them and want to be like them or please them. During our very early years, our modeling is done at an unconscious level – we are simply exploring the amazing world we have around us.
As we grow older we become more aware of our environment and start to ask lots of questions to make our own sense of the world. We are all meaning making machines... everything that we witness in our environment; we make up our own meaning for.
The more conscious we make our learning early in life; the more easily we can accelerate achieving what we want in life. Everyone owns their own learning. It happens between our ears. What we have really learnt is evident through our everyday actions and speech. No one can "learn us" ...we choose to do it ourselves... or not. So the important questions are "What do I want to learn?" and "What's in it for me?"
It's Never About the Money -
The MAGNET Money
System is designed to teach children the value of money based on wat is
important to them.
If parents want children to appreciate the value of money, the first step is to come from their children's model of the world and what they consider important or valuable. By simply sitting with them and asking the question "What's important to you?" and giving them lots of time to answer, you can easily discover your child's values. It is a good idea to ask them again after they say they have told you them all. Many times the things they think of last are really important to them. It is best to give them plenty of time to think and then answer. Children of different ages will give very different answers.