AskPat 952 Episode Transcript
Pat Flynn: Hey, what's up everybody? Pay Flynn here and welcome to Episode 952 of AskPat. Thank you so much for joining me today. As always, I'm here to help you by answering your online business questions five days a week.
Alright. Now here's today's question from Max.
Max: Hi Pat. This is Max Turner from TheModernYou.com. I just gotta say, your Business Breakthrough session was just amazing. I attended a couple of years ago. Every day, I think about it. Every day, I try to take some action point towards my goals, and it's because of that. I just want to say thank you to you and Chris Ducker for it.
However, while we were there we also were talking about our children, and how you had a different approach on tackling chores. The traditional way is getting paid weekly or bi-weekly or even monthly, based on how many chores the kid does. But, you had mentioned something about a commission system, and I have been racking my brain trying to find something else out there that was like you said. If you could provide any podcast, books, any information, links, whatever you can do, I'd really appreciate it. Thanks so much and keep up the great work.
Pat Flynn: Hey, Max. Thank you so much for the question. It's great to hear from you. We had an awesome time together at Business Breakthrough with Chris Ducker. For those of you who don't know what that is, go to 1DayBB.com. Chris Ducker and I, we have a podcast that comes out in seasons a couple of times a year. Season Two just came out earlier this year. Season Three will be coming out later this year too. You can Netflix binge-style listen to that episode, it's a lot of fun. But we break through a lot of people's pains and problems in businesses. We often, or we used to often get together and do them in person. It's been hard because he's been in the Philippines. It was easy that year though, because it was his book tour year, which was a lot of fun.
Anyways, Max, I'm glad you're here. I'm super-stoaked that you're asking questions about parenting and stuff. I'm obviously a parent too, I've got two kids. I'm not a pro. I'm just figuring things out as I go along, too. And I read this book, so I want to recommend this book. This book is by Dave Ramsey, but also his daughter; his daughter is Rachel Cruze. They co-wrote this book together. It's called Smart Money Smart Kids. I don't just like it because the word smart is in there just like my brand, but Smart Money Smart Kids. You can check it out on Amazon, by Dave Ramsey and Rachel Cruze. [Full Disclosure: As an Amazon affiliate, I receive compensation if you purchase through this link.]
It was a great way for me to . . . When my son was like five, and just getting to that point where he was kind of curious about money, right? I wanted to make sure I really did it right. And I went to the experts. So Dave Ramsey, Rachel Cruze, Smart Money Smart Kids. There's a lot of great things in there about money, and how to talk about money, how to handle money, how to introduce your children to money, and that sort of thing. I had grown up with an allowance. I would get three or four dollars every other week. This was back in the eighties. I just knew it was coming. And so it didn't matter how much work I did, as long as I didn't get into terrible trouble, I would always get the same amount of money. And that's just not the way to do it, right? You want to reward good work. That's where this chore thing comes into play. You had mentioned paying based on the number of chores you do every other week or every month. That's what Dave Ramsey and Rachel Cruze recommend. That's what we just simply call a commission; that's what they term it as. Instead of an allowance, it's a commission. It's earned, it's not just given. It's basically the same thing that you mentioned. But if you want more details, you can check out the book.
There are some other things that I started to include that were inspired by that book too, in the growth of our kids and how to handle money. But it also relates to other parts of their life, too. For example, one of the things we have in the house is a Complaint Jar. One of my pet peeves with my kids is when they just immediately start complaining about something when something goes wrong. Their first reaction is to just seriously get upset and waste time. So my thinking is: Okay, well I'm going to take away a quarter every time they complain first, before they start thinking about how to solve that problem. But, every time something happens and they start to wonder: Okay, well what can I do to fix this situation? Or: What can I do to better react to this? Well then, I put a quarter back . . . Or I take a quarter out of that Complaint Jar and put it back in their wallet. So it's just change, right? But you can see the change. It's in a clear mason jar, so you can see it pile up. You can just shake it around, and you can just make a big deal out of that. So complaining is one of those things that I feel is a waste of time. Now, obviously, I don't, you know, get upset at my kids for getting frustrated. But it's when they start to prolong and elongate that complaining, where it's obvious they could have had a mindset shift and started to actually be proactive with how to fix that problem or that kind of thing. That's what I'm talking about.
Anyway, there's a lot of great things in that book, Max. I highly recommend you check it out if you haven't already. Smart Money Smart Kids by Dave Ramsey and Rachel Cruze. I would just love to talk about this stuff a lot more. I know this isn't maybe the right place for it all the time because a lot of my listeners don't have kids, and maybe you will, maybe you won't. There's no right or wrong. But it's just something that would be cool to have another forum to talk about this with. Again, I'm figuring things out along the way. I'm learning from others too. And I'd love to hear more about some of the tips and tricks and strategies that other parents who are out there are using too. If you have something cool to share, share it along the way. Hit me up on Twitter: @PatFlynn. That'd be awesome.
Cool. Thanks, Max. I appreciate you. I want to send you an AskPat teeshirt for having your question featured here on the show. For those of you listening, if you have a question that you'd like potentially featured here on the show as well, just head on over to AskPat.com and you can ask right there on that page.
Thanks so much. I appreciate you. Here's a quote today from Henry Clay and that is: “Statistics are no substitute for judgment.” Right. Take care, thanks so much, and I'll see you in the next episode of AskPat. Bye.