I have always run a small business of sorts, even as I worked a corporate job to maintain respectability within my adult-based middle class community. Because my kids needed to be in a “good school district” in s “safe” home in the burbs, blah, blah, blah.
BUT they were always privy to the accounting books and when they were old enough, they invoiced, made collection calls, were involved in lengthy P/L, ROI, cash flow and break-even conversations. They learned about cost of sales and how not all money is worth the same. They filed their own taxes and were in on the various quarterly filings the business had to do. I threw them into the pool and they were forced to swim.
They think about money differently than their peers. They know what a true asset is (and no, it’s not a car… it’s never a car. A car is NOT an asset… neither is a home an “investment.”) They learned early how a lot of financial terms were co-opted by bankers and consumers to mean one thing while doing the complete opposite.
Things I could not rely on the “good school” to teach.