A story is told about a rich family in which the father had established a large and very successful enterprise from the beginning with lot of hardwork. As the father is approaching for retirement, one day he asked his son to come to his office and told him that he wanted him eventually to take over and run his business. The son was delighted and asked, “When are you going to hand it over to me?” The father replied, “I am not going to give you anything right away, you must earn it”. The son responded. “How am I supposed to earn that?”
The father answered,”First you must earn 10,000 pounds to purchase some portion of the company to get some ownership.”As the son left to start his quest, his mother grabbed him by his hand and shoved 10,000 pounds in his hand and told him o give he moneyto his father. Surprised by this act of help from his loving mother, he ran to his father. His father was reading a book sitting by the fireplace. The son approached his father and said,”Dad here’s 10,000 pounds for the business”. Without looking at him, the father took the money and tossed into the fire. The son aghasted and watched staringly. While the money was burning, the father said,”See me when you have earned money”.
As he left the place, his mother once again gave 10,000 pounds and told him to be more convincing in selling the idea to his father that he had actually worked for the money. Now the boy jogged around for some time and after few days approached his father and the father was sitting in front of the fireplce and reading a book. He said to his father.”It’s really tough earning money. Here’s the 10,000 pounds. I now want to own the business. Once again the father took the money and tossed into the fireplace. As the money was burning, the son asked.”How did you know this money was not earned by me?” The father replied,”It’s easy to lose or spend the money that is not you earned.”
Now, the son realized that he would not get his father’s company unless he himself earns the 10,000 pounds.he wanted to have the business. His mother offered the money again, but rejected the offer.
He went out and took up some odd jobs. His jobs demanded him to get up early and stay up late night. But he worked very hard until he earned 10,000 pounds. Proudly, he walked into his father’s office and presented the money to his father. The father was reading a book standing by the fireplace. And, like before, the father took the money and threw into the fireplace.As the money hit the flames the son quickly pushed his hands into the fire and pulled out the money. The father looked into his son’s eyes and said,”I see you really earned the money this time”.
Many times, parents make the mistake of providing damaging financial assistance to children. Due to this,
Children become entitlement oriented than achievement oriented.
Instead of becoming grateful, they become demanding.
Children who always get what they want will want as long as they live.
Create an atmosphere to make sure that the children grow with the earning mentality rather than entitlement mentality.