These Kids Were Raised To Be Money-Smart That They Successfully Paid For Own Tuition

We live in the 21st century, which has ushered in newer and braver perspectives for parents, including financial literacy. Gone are the days when only fathers carried the burden of providing for their families. Nowadays, more and more mothers also choose to work to sustain their personal and family's needs. It is also no surprise that even children are becoming more open to learn on how to be financially independent.

In an exclusive interview with Smart Parenting, a mom shared how she taught her kids to be money-smart at a young age, enabling them to eventually pay for their own tuition fees.

How this CEO-mom teaches her kids to be money-smart

Meet Jhovy Yongco Kapa, chief executive officer of a real estate development company, which holds several housing projects in Visayas and Mindanao. Her family business ranges from renovating and releasing existing buildings to purchasing raw land and constructing massive housing subdivisions, or selling developed lands.

_{Jhovy Yongco Kapa (second to the left) is a CEO of a real estate company.}

Having a successful company, she taught her children how to handle their own finances, instead of spoiling them with whatever they wanted. Even though she had all the means to pay for their college education, her children managed to pay for their own tuition fees.

Mommy Jhovy said she started teaching them to be money-smart when they were younger. "My children are taught to be financially wise and smart since they were in primary," she told Smart Parenting. "They were not allowed to bring money in school as ”baon” but they brought food instead for snacks & lunch."

She adds, she involved them in their business by delegating tasks appropriate for their age.

^{Jhovy's real estate company has projects in Visayas and Mindanao.}

When her kids were in high school, they worked part-time jobs, doing janitorial and utility services to learn, just so they could grasp the value of hard work.

While many parents work hard to give their children a comfortable life, this mom proved that helping children learn to help themselves has better and long-lasting impacts.

Here's why Jhovy taught her kids to be financially independent, even when she had all the means to pay for their education:

1. Help them harness their potential.

Mommy Jhovy said that she wanted to teach her kids to cherish the resources available to them. She wanted them to learn that they can use their skills, talents, and intelligence to maximize what they already have. It is through practice and hard work that they can understand and harness their potential as individuals.

2. Teach your kids that money can be used to bless others.

Their company has blessed the lives of many Filipinos by providing housing projects and, at the same time, creating job opportunities. They have not only brought financial stability to individuals and families but have also contributed to the overall socio-economic development of the country. Teaching children how to manage their money well can help them see the bigger picture that it can be a means to bless other people.

 "I want them to grow with values which I believe could be the best and effective capital for their success. That with or without me my children will survive, and clearly, they will live life to the fullest." —Jhovy Yongco Kapa

_{Jhovy Yongco Kapa (third from left) and her three kids.}

3. Help them to learn grit and resilience through small habits.

Teaching your kids about financial independence is key, she says. "I want them to grow with values which I believe could be the best and effective capital for their success. That with or without me my children will survive, and clearly, they will live life to the fullest." Teaching early financial independence will also aid them in preparing for the unexpected. Starting them young can help them prepare for life in general and the challenges ahead of them.

Mommy Jhovy has this to say to parents who want to do the same, "To all parents who raise financially independent children, congratulations! It's the best gift we could ever give to them. A lifetime legacy. We nailed the safe future of our children. They'll be in good hands. It's our happiness and great achievement."

She added, "It is important to raise our children to be financially independent because we love them so much, all we want for them is to live a good and quality life. Surely, they’ll never be poor or needy because they know what to do to survive, they must just apply what we, their parents, taught them."

5 tips for parents who want to teach their kids about financial literacy

Here are some tips from Mommy Jhovy for parents who want to teach children to take charge of their own finances at a young age:

1. Don't spoon-feed them or give them whatever they want.

She says, it's a failure for parents to spoil their children. This can lead to them having a sense of entitlement that despite not having to work or study, their needs will be provided. Mommy Jhovy warned parents not to give them anything they don't need.

2. Practice delayed gratification.

She teaches her children to be money-wise since they were young. They didn't bring money to school but brought food instead. Teach them how to delay gratification. Demonstrate delayed gratification in your own life by being wise spenders. Not because you have money, doesn't mean you have to spend it.

3. Teach them the value of hard work.

After school, her kids frequented her office to help clean, segregate receipts, and do other basic chores that children can do. At home, they were given tasks to do before and after school. Teaching children the true value of hard work empowers them to actively pursue their desires through hard work and perseverance.

4. Help them to not give in to peer pressure.

Peer pressure enables your kids to get into the latest lifestyle, technology, or trends. Teaching them how to focus on their goals and resist peer pressure can help them to be more mindful about their spending.

5. Let them spend their own money.

For the chores and tasks they complete, Mommy Jhovy would pay her kids a small amount of money. It's for them to keep as their savings, and to pay for tithes. They were also accustomed to stick to the basics and not splurge on things that they don't need.

Raising financially independent children has benefits

By teaching her kids these simple yet impactful lessons, her kids grew up to be money-smart. All three of her children were able to pay for their college tuition fees, and even their school projects. They are all working in their family business with different roles. They are also given a company benefit—a salary loan if they need more money to pay for their projects.

^{Jhovy's three kids}

"Train up a child in the way he should go, and when he is old, he will not depart from it," as stated in Proverbs 22:6. It is when our very own children learn to help themselves that we say we have done our best in teaching them how to utilize their talents. Mommy Jhovy is a smart parent whose mindsets and approaches might be unconventional for some, but this style worked for her in raising humble, financial-literate, and future-ready children.

Want to raise independent, empowered, children with grit? This parenting style might work for you. Read here.