How much money do you need to be “rich?” Everyone has a number. For many it’s a $1,000,000. For others it’s $100,000 in the bank. Some adults will say being rich isn’t just about money, and while I agree I decided to limit my questions to solely money.
This is a totally unscientific poll of various aged children. The idea came about when I was talking to my girls last night (7 and 5) and they brought up being rich.
I asked them 2 questions, and was holding in my laughter as they answered.
Starting with the basics like working, spending, saving, and giving, and moving into more challenging issues like avoiding debt for life, paying cash for college, and battling discontentment, Dave and Rachel present a no-nonsense, common-sense approach for changing your family tree.
The questions are:
- How much money do you need to be considered “rich?”
- How can you get “rich?”
The comments go from youngest to oldest:
Milligan, Adam Baker’s daughter (18 months): <blank stare>
Andrew‘s son (2): “BASEBALL!” (I think this is my favorite answer.)
Learn more: 7 Ways To Raise Centsible Kids
Erin (3): (Love the simplicity of Erin’s answers.)
- “A lot”
Aidan (3 1/2):
- “I need gold to be rich!” (He insists he needs gold coins.)
NCN’s kiddo (5):
- “63 thousand dollars”
- “Save my money in the bank mema gave me”
Great answers! Wonder where the $63,000 number came from?
Audrey (5 1/2):
- “What did Emma say?” (her sister who she defers too) “$1,000, but you’d still be rich if you had $999.”
- “Save all your money, and then you can buy lots of stuff like toys and candy!”
This is my girl. If her sister hadn’t been with her I might’ve gotten a more self-directed answer, instead she just mimicked her sister.
Rebekah (6 1/2)
- “Helping others and doing jobs for other people”
Love Rebekah’s idea of helping others. Again with the odd number, wonder what made her think $10,800 instead of $10K or $11K.
J.P. (age 7)
- By being a bank robber or by doing a whole bunch of chores
This kid has moxy, I like it! This is the highest number of any respondent, I like that he’s shooting for the stars. Maybe the next Bill Gates?
Emma (7 1/2):
- “$1,000, but $100 is still pretty good”
- “Work, do chores and stuff like that.”
My girl, she doesn’t need much. 🙂
As parents, you can break the chain of poor money habits so your child will never face mounds of consumer debt or the dreaded paycheck-to-paycheck living. You can develop your child’s financial intelligence and establish a foundation for your son or daughter to build wealth simply by practicing five money habits.
Sister duo Esther (6) and Talia (9)
- E: “$1,500”
- T: “Working or the lottery.”
Love these sisters’ answers. Good luck with the lottery!
- By saving for a very long time, putting your money in the bank to earn interest, and spending your money on things that will make more money.
Again my kiddo (I know I have too many) I think he’s got the most realistic answer.
Learn more: 8 Ways To Teach Your Kids The Value Of Money
- “Couple million dollars.”
- “I don’t know, but can you start doing it, Mom?”
Ha! Glad I’m not a mom of a tween yet! Love that she aks mom to do it for her, watch out Brandie!
ADD Housewife‘s kiddo (12):
- “Own google”
Love owning google as the answer to being rich. If only we could all own google. 🙂
Did you ask your kids? If so, leave the responses below. I find this hilarious!