Barefoot Investor reveals his bizarre parenting tips for raising a money savvy child – including taking them camping to ‘rough’ it and making them do chores before they eat
- Barefoot Investor author Scott Pape wants children to know the value of money
- Mr Pape, 43, believes smart habits developed from a young age will be beneficial
- When camping, he gets his children to dig holes when they are using the toilet
- Aim is to get youngsters out of their comfort zone and appreciate surroundings
The prospect of sending children camping where they will be forced to think on their feet and ‘rough it’ may not appeal to some parents.
But renowned Barefoot Investor author Scott Pape, 43, insists it is an important life lesson children need for when they get older.
The father of four said when his family is out in the elements, he gets his kids to dig a hole with a shovel when they want to go to the toilet.
‘It is about breaking the idea of convenience, roughing it a little bit,’ the savings guru told the Herald Sun.
‘I want my kids in the zone (when it comes to their surroundings).’
Barefoot Investor author Scott Pape has revealed his tips for raising money savvy children
The Barefoot Investor author said he gets his own kids to dig a hole with a shovel when they want to use the toilet when camping to teach them ‘life lessons’
Savings guru Scott Pape believes teaching children good money habits from a young age will be invaluable in their adult life (stock image)
The award-winning author said pocket money should only be handed over if youngsters have done their chores and teenagers should be taught the costs of running a home and how to pay bills.
Mr Pape also suggested giving to charities and other people in need, if financially possible. The flow-on effect will be ‘generous and grateful’ kids.
He has long campaigned for practical money lessons to be taught in classrooms across Australia.
NSW is poised to hit the ground running, with a financial literacy challenge soon to be added to the curriculum.
Earlier this year, Mr Pape revealed he was working as a garbage collector to find discarded hidden gems for his soon-to-be-completed home renovation.
He started his unlikely new side-hustle in March after tagging along with a friend who is in the rubbish removal business.
The Barefoot Investor was first published in 2016, and went onto sell more than two million copies across all media platforms including print, audio, and e-book.
Mr Pape followed that up with The Barefoot Investor For Families two years later, which helps parents improve their children’s financial understanding.
He has also branched out to TV and radio in recent years.