Hello everyone, and welcome back to my channel. Today, we’ll be taking a short break from our usual Stock Market and success routine. But don’t worry, because we are going to discuss a subject that is just as (or, if you ask me – a lot more important) than business and investment. You could even say that this is the ultimate type of long-term investment. We’ll talk about parenting.
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Parenting Done Right
Now, I know that parenting is somewhat of a touchy subject today, and I understand where these people are coming from. Raising kids isn’t easy, and having random people on the Internet criticize your choices can be very frustrating. But here’s the thing – raising your kids right is the single most important thing that you can do in life, especially if you are passionate about business, investing, building wealth, and so on. So, if some of the things that I say come out a bit too blunt, don’t take it the wrong way. I am simply sharing my experiences and my point of view here.
Besides, we aren’t going to live forever. No matter how careful we are about our health, diets, and routines, eventually, we will all get old and too tired to keep going. What do you think is going to happen to all of that wealth that we’ve built? That’s right – it will pass on to our children.
So, to me, it seems like raising your children right is the ultimate and most important long-term investment that can be made.
While you’re going through this blog, please remember that I am not trying to make people feel bad. My goal isn’t to be negative here. Instead, it’s the exact opposite – I think that it is important to share these thoughts because I believe that people don’t give this subject enough attention. I also know that it’s really easy to take children for granted. As a matter of fact, most people fall into this trap and without even realizing it. Most couples end up either having or adopting children. And, as a result, most people treat it as “just something that everyone does”, like … having breakfast in the morning or going to work. But, in reality, it’s something a lot more critical. Something that, I believe, we have to approach with a lot of care and respect.
Now, if you’re a regular here, on my channel, you’ve probably picked up on the fact that I’ve got a daughter. She’s a wonderful young woman in her late twenties (that I’m very proud of!), who is an expert in marketing and runs her own digital marketing agency.
I started teaching her the basic principles of living effectively from a young age, but I’ve also done my best to respect her wishes and support her in everything she does. There’s a really fine line here because I obviously didn’t want to be too overbearing or overprotective, but also didn’t want her to feel like she’s all on her own in life. Add to that the fact that we spent quite a few years apart, as a result of my decision to move to London, and we’ve got ourselves a very interesting story.
When I first came to London, I had to leave her with her grandparents back in Bulgaria. I didn’t know if I’d have the time or resources to take care of her and, considering my lack of accommodation arrangements, it was just not a good way to raise a young girl. At the time, she was only 7 years old.
I am incredibly grateful for their help – both for taking care of her and for raising her right. Thanks to their efforts during these crucial years, Dayana grew up to be a wonderful person – a confident, caring, and determined young woman, that I am proud to call my daughter.
If I was to compare my childhood with hers:
The key factor in my childhood years was a sense of freedom. I had what it felt like “all the time in the world” to enjoy my childhood. I would play around outside, hang out with our neighbors, sing songs, and study together.
Sadly, a lot of the children today don’t have that luxury, and this is due to the busier and more cluttered lifestyle. Especially if they live in larger cities – there just isn’t enough time and space.
I believe that it’s vital to give children enough freedom to explore their interests and enjoy their younger years. However, like all things in life, there is also “too much freedom”.
Now, I don’t want to sound negative, but I see that a lot of parents today would much rather shove a digital toy in the hands of their kids and call it a day.
Children need time and attention from their parents. They need (non-intrusive), gentle and caring guidance, even if it’s just so they don’t have to learn by making a ton of mistakes. Sure, there will be mistakes. Sure, they need to fall down and learn how to get up. But there are a ton of pains that parenting can prevent just by being there, by listening and talking to their child.
How I approached parenting:
When my daughter was 10 years old, I was living and working in the UK, while she was in Bulgaria with her grandparents. My accommodation situation was still unstable, and my work schedule was hectic, so, to protect her from all the stress, she was staying with our relatives. At the time, I was sending her 200 BNG (about £100) per month, to get her started with budgeting. Her grandparents were refusing money from me, so I was sending it over to Dayana instead. She would then use it to help out with the bills and groceries. She also wrote everything down and gave “reports” on her spending.
Naturally, this led to a lot of hilarious situations. We talked about VAT and why it exists, why a specific bill goes up or down, and so on. This gave us great opportunities to bond while also teaching her valuable life skills.
The distance between us was troubling for both of us. I missed her and thought about her every day, and she also felt lonely without me. She sent me many letters, telling me how much she misses me and how she’s sad that she has to grow up without a mum. For a time, she actually believed that we’d be apart forever – she had managed to convince herself that she’s never going to come to London. Today, all those years later, she’s absolutely in love with London. She even hates the idea of spending more than a month away from the UK.
I put a lot of effort into teaching her everything I know about budgeting and let me tell you – it definitely paid off. Now, she’s just as good as me (if not even better!) and she’s doing really well for herself.
When she was 13 years old, I was finally able to bring her to London. Of course, at the time, she didn’t know English, so I gave her six months to learn the basics. She turned out to be an outstanding student – her teachers were very pleased with her progress, and they always complimented her.
After she was sufficiently “settled in”, I started giving her small tasks, related to my (now up and running) business. At first, it was just the simplest of things, like distributing leaflets for the company. Then, we moved on to sending letters and communicating with the accounting agency.
After she got comfortable with these tasks, I started teaching her about marketing. This was still in the early days of my company, and I didn’t exactly have a large team at my disposal. So, I was doing most of the marketing work all on my own, which was taking a ton of time. Luckily, Dayana was very interested in the whole thing, and she was eager to learn how it all works. As a side-note, if you’ve never looked into marketing yourself, I highly recommend that you do a quick read-up: it’s actually quite fascinating. I’ll leave a couple of interesting blogs to get you started in the description down below.
She seemed to really enjoy the process, and eventually, she wanted to take over the entire marketing side of the company. I was already very busy with running everything, so I was delighted to hear that, and I agreed.
She spent seven years learning, got a degree, and, by the time she was twenty, she was ready to open her very own marketing agency. I’m very proud of her.
Her agency offers digital marketing, website design, search engine optimization, social media … you name it. Initially, she was mostly focused on UK clients, but recently she opened an office back at home in Plovdiv and quickly found that Bulgarians also enjoy high-quality marketing services.
But why am I telling you all this?
In short, because I like helping and I want to help you. What do I mean by that? Well, most of you are young – much younger than me. The majority of my audience is around my daughter’s age or younger. I am old enough to be their mum. And this is why I want to tell you this:
First –always look for ways to improve. Always look for ways to learn new things. Never try to “save” money by passing up on learning opportunities. And I’m talking about courses, presentations, seminars and so on. I still sign up for and attend classes, related to the things that I want to be good at, even if I’ve spent years of my life perfecting that skill. This is one of my personal “tricks” for success – I’ve always followed this rule, and it’s been a massive help in my life. Every year, I try to “graduate” from at least a couple of new courses. And, now that everything is accessible online, it’s even more comfortable.
I don’t have to worry about traveling somewhere, being too early, too late, or missing out. I can just replay the course whenever I want, and I can keep learning, no matter where I am.
Right now, I’m attending a marketing course every Tuesday and Thursday.
This approach gives me not just skills but also a ton of confidence in my abilities. I know that should something happen with my business due to the lockdowns or other unexpected circumstances, I will be able to start over. I’ll be able to start a new business, and I’ll rebuild. Self-confidence is essential in the long-term. It helps you remain calm, and it saves you a ton of headaches. And that’s precisely why I always tell people to look for learning opportunities. To always try to improve and build up their wealth, skills, and financial stability.
And here’s how this translates to parenting:
If you can get to a place like that, it’s really a game-changer – both for your financial and mental health. You will have more time for yourself, for your family and for your children. But, what’s even better is that you can also help your children get started with that same mentality, so they too can be safe, happy, and confident in their abilities.
Since my daughter got used to this mindset from a young age, she had absolutely no issues starting her own business very early. I became a business leader at the age of 21. My daughter – at the age of 27 now. Essentially, I was able to give her a head-start in life, not just by offering emotional and financial support, but also by helping her build up her skills.
We are also business partners. Of course, my cleaning company is still my primary business, just like how the marketing agency is hers. But, we have also developed many successful projects together. We research things together, we invest together, and we have also built a number of e-commerce websites together.
My advice for today is pretty straightforward – always be smart with your resources.
- Learn how to spend wisely
- Learn how to spend your time wisely
- Always look for opportunities to learn more.
This is my approach to just about every aspect of life, and I’m delighted that my daughter has adopted a similar way of thinking.
But don’t get me wrong here – I don’t mean to say that we never treat ourselves. Everyone deserves to take a break and have some fun every now and then. Still, we know how to keep our spending in check. We don’t just buy, buy, buy and stockpile things that we don’t need. If you end up bored with your purchases down the line, you can always sell them online and use the money for something else!
And, with this, we’ve reached the end of today’s blog. It ended up being a bit longer than my usual content, but I believe it was worth the effort. Join me next time for part two of this series, where I’ll give you my Top Five Parenting Tips.
If you’re still here, I want to give you a huge thank-you for your support! Don’t forget to give me a thumbs up on your way out – every bit helps!
If you’re after more success and investing content, you will want to have a look at our private investing group. There, I post exclusive (and usually a bit longer) blogs, I discuss and analyze stocks and I offer tips and advice. I’ve left a link in the description below with all the info you’ll need to sign up.
Now, if you’re looking for a good investing platform, I’d suggest using Etoro. I’ve got a public account there and you can follow my investments easily. Additionally, Etoro offers a lucrative sign-up program for new users, plus a wide range of investing possibilities.
Thank you all for watching, and I’ll see you next time!
Recommended for further reading:
- Happy: Finding joy in every day and letting go of perfect
- The 7 Habits of Highly Effective People – Stephen R. Covey
- Mindset – Updated Edition: Changing The Way You think To Fulfil Your Potential
- How to Win Friends and Influence People
- Declutter Your Mind: How to Stop Worrying, Relieve Anxiety, and Eliminate Negative Thinking