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Author spills 'Secrets Self-Made Millionaires Teach Their Kids'

He's the author of the new book Secrets Self-Made Millionaires Teach Their Kids, which is based on his 1,200 interviews over the past 34 years with parents who, in many cases, started out with nothing at all and went on to become very successful with money. Not to mention, he's also a self-made millionaire with a great rags-to-riches story of his own!

Here are Author Steve Siebold's tips to better help parents teach their kids about money:

  • Teach your kids not to be scared of money: Most parents see money through the eyes of fear and scarcity. Teach your kids to see money for all the good things like freedom, possibility, opportunity and abundance.
  • Teach your kids to have higher expectations: Most parents teach their kids to expect little so they're not disappointed. Instead, teach your kids to set their expectations really high and get excited.
  • Teach your kids there's no such thing as entitlement: Parents need to teach their kids that the world owes them nothing. No one is entitled to anything. It's up to you to create your own future. Teach your kids to have an attitude of self-reliance around money and everything else.
  • Teach your kids to fight for their success: Parents need to teach their kids that the more adversity they face, the stronger they will become, and the stronger you become, the more successful you'll be in business, with money and in life.
  • Teach your kids the streets are paved with gold: Parents need to teach their kids to marry their talents, interests and skills to specific problems that people will pay them to solve. Problem solving is the key to making money, and a world full of problems equals a world full of opportunity.
  • Teach your kids money won't make them happy: People love to equate big money with happiness because they think of fancy cars, lavish jewelry and big homes. The reality: if you're not happy without money, you're never going to be happy with it.

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