What they didn't teach us in school about money

Here’s some common sense about money that kids should hear from their parents.

Don’t confuse net worth with self-worth. It’s only natural to want expensive things. But it’s more important to feel good about yourself, regardless of how much money or stuff you have. People respect you for the person you are, not your flashy lifestyle.

Make the best of the hand you’re dealt. Some rich, successful people claim they earned it. In reality, our destiny is shaped by luck, parenting, health, access to education, and economic factors. Keep this in mind before judging others—or yourself.

Learn from scarcity. Feeling poor at some point in your life helps teach you the value of money. You quickly learn the difference between needs and wants, how to shop for bargains, how to fix what’s broken, and how to handle life’s ups and downs.

Make your goals about more than money. You may think once you’ve saved a million dollars, everything will be great. But then you only want more! Instead of focusing on money, make your goals about fulfillment for you and your loved ones.

Don’t be afraid to change plans. Just because you decided on a career when you were 18 doesn’t mean it has to be a lifetime sentence. Try a few things, stay flexible. If your first career doesn’t fit, move onto something more inspiring.