Create Wealth 2.0

Summer is over, tomorrow my kids will go back to school after a week of postponement because of A(H1N1). During summer, wifey and I taught our kids three important lessons:

To earn.. to honor God with the tithe…and to save money.

At the start of vacation, I asked my kids (ages 11 and 9) what they can do passionately. They opted to sell “ice candy”. So they experimented on different flavors before they finally launch the product  By being the first consumers, soon, all the kids in different buildings  became aware of this goodies. My kids produce and sell ice candy for more than a month.

As they earn, my kids also return 10% of their earnings to God every week. And last Saturday, their accumulated profit were added to their savings account.

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I believe, before we attain  financial freedom, we must manage our spending and save. And from our savings, we must learn to invest in low risk ventures and slowly build different streams of passive income.

One of the reasons why we can’t seem to save money is our mixed up spending priorities. I was blog hopping when I bumped into this post and find it enlightening.

Maslow’s Hierarchy of Needs                                            Hierarchy of Financial Needs

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