Whether you teach your kids much about money or not, this topic needs to be drilled into their mind – Gambling is bad! Lottery is one of the worst forms of investment! Don’t believe us? Warren Buffet agrees with this and shows how he taught his children the losses that can occur as a result of gambling. If there is anything that needs subliminal marketing – its this lesson. Your children will thank you for this later in their life.
The lottery is another form of gambling. It’s a zero-sum game and there is usually just one winner in millions of participants. We start with the topic of lottery because it is accessible & ubiquitous – which means any child can observe their parents playing the lottery. This could give them the wrong idea! It is important to teach your kids how bad of an idea the lottery really is. Here is a fun idea: create your own lottery game (from their allowance money) :
Let’s get this straight – Gambling is neither an investment nor a way to earn a living. Adults sometimes may indulge in recreational gambling, especially when they have money to spend, however, if you indulge in this and you have a problem. Children need to understand this from an early stage. Just talking to them that gambling is bad along with the lottery activity we suggested above may suffice. Or you could go the Warren Buffet way and simulate a gambling situation to help them understand.