 The 3 wrong things your parents taught you about money I left school on the 30th of June 2008. When I left, I announced to my parents that I was never going to need a degree or a job in my life. I told my brother that I wanted to be an entrepreneur. He told me a million reasons why I can't succeed but I had a single reason to succeed and that is I love freedom and I want freedom by any legitimate way possible. Next last month, 11 years after I left school, my father called me to persuade me to go and collect my certificate from the school. Even though I already run a successful company with many university graduates on my payroll, my father still believes that somehow, something is lacking in my life. The degree Even though I make more money than almost every PhD holder in my country, my father still thinks that I'm a failure because I don't have a university degree. What a funny world. In this video, I'll be sharing with you the 3 wrong things that your parents taught you about money. If you are new here, consider subscribing so you won't miss other interesting videos like this. The love of school, not education When I dropped out of school in the year 2008, what I did next was to focus on building a business and reading hundreds of books about entrepreneurship, psychology, marketing, negotiation, and others. The problem I have with my family members is that even though they always saw me reading books, they believed that I wasn't getting an education. My father once challenged me for reading too much. He believed that I ought to be at university instead of studying at home. The first wrong thing your parents taught you about money is that school is the source of education. I don't know about your culture but in the culture where I grew up, the school has become a God. Going to school to get a degree is the thing. The more degrees you get, the more education you are believed to have. If you have no degree, then you are believed to be an illiterate, even if you have read a thousand books in the last year. The problem with this program is that you are made to believe that the certificates will solve your life's and money problem. The real truth is that school and education are not the same things, in fact, indoctrination center than an educational institution. In school, you are programmed to love the job. From the one till your last day, you are taught nothing about money. Instead, you are taught that if you can work hard and get good grades, then you will get a good job. And if you can get a good job, all your money problems will disappear. By now, you know that is not true. So what is the truth? The truth is that you don't need school to be rich. You need financial education. That is not to say that if you have a degree, you can't be rich. But to say that school taught you nothing about money. If you care about having money, you have to read books about money. Your financial education, not a college degree, is what will determine whether you'll be rich or poor. You need connections or luck to be rich. Some of the reasons why my father joined politics was because he wanted to be able to connect with the political powers so that it could help his children get jobs, contracts and others. The other day, I read the comment of someone on our video. He said that money comes with DNA, meaning that if you don't have the gift for making money in your DNA, you just have to be poor. Somehow in our world today, we believe that to be rich, you need luck, connections or some special gift. Our parents taught us how to think this way because many of them complain about the economy, the rich or the government. When parents complain in front of children, what they are teaching them is that they don't have the power to change their situation, either because they are not connected with the powers that rule their country or because they are not lucky or talented. That's the reason why you see that today, everyone expects everything to come from the top, the luck, the government's favor or the help from the employer. If we believe that getting rich requires some luck, then we should also believe that becoming a lawyer, a doctor or a soldier requires some luck. Well, it doesn't. Instead, becoming rich requires being intentional, knowing what you want, getting education from the people who have what you want and be willing to make sacrifices for what you want. Being rich is about skills and every skill is learnable. You can learn how to save money, that's a skill. You can learn how to delay gratification, it's a skill. You can learn how to multiply your money by investing or by building a business. You can learn how to be persistent when you fail. You can learn how to learn so that you know what nobody knows about money. It's all skills. Hard work leads to riches My father is the strongest man I ever knew. He worked harder than anyone I know. But guess what? He's a poor old man. While growing up, I usually hear people saying, if you want to be rich, you have to be hard working. At a point in my life, I started thinking about it. You see, I know so many hard working people who are broke and in fact, almost every hard working person I know is broke. If hard work is the reason why people are rich, why are so many hard working people poor? After studying for a while, I discovered the truth. Now here is the truth. It doesn't matter how fast your car runs, if you are on the wrong road. If the road you follow doesn't lead to where you are going, running very fast will only make you look smart to other drivers on the road. It won't take you to your destination. Don't forget this, if the road you follow doesn't lead to where you are going, running fast will only make you look smart to other drivers on the road. It won't take you to your destination. If you work hard on the wrong thing, you will only impress other people who see that you are working 18 hours every day. But think about a man who is on the right track, on the right road that leads to where he is going but he cannot run fast. Yes, it will take time for him to arrive at his destination but he will get there. What are you working hard on? Working hard earning minimum wage in McDonald will never make you rich. Working hard making $100,000 a year is not even enough to make you rich except you are disciplined enough to learn and know what other people don't know about money. What about leverage? Nobody tells you about leverage but I will tell you, you see I'm the laziest person among my siblings but I'm richer than any one of them. The reason for this is because almost everyone out of my ninth siblings is working with his two hands. They work hard in a job or work hard in a one-man business that is two hands. I do the opposite, I learned and master how to work with 100 hands. Today as you watch this video, I have many people working for me on my businesses. Not just humans, I learned and use technologies to make money even while I'm sleeping. How can we give so much glory to hard work when people can use leverage? Why should we teach people to work three jobs or work 18 hours per day when we can teach them how to use 100 hands instead of two? The truth is that when your parents taught you to work hard if you want to be rich, what they wanted you to do is to work hard with your two hands. Don't do that. Learn how to work with the hands you don't have. The truth about money is that you can't work hard enough to have enough of it. Nobody becomes a millionaire because he works 23 hours per day. People become rich because they use leverage. How many hands do you have working for you? How many brains do you have making your money? How many technologies do you use to make money? Learn how to create a solution to human problems. Learn how to employ humans and technologies to work for you so that you have 100 hands instead of two. Let me remind you of everything I've shared in this video. The school doesn't teach you anything about money so when your parents talk as if degrees will solve your money problem, that's a BS. The only thing that will solve your money problem is your financial education so pay attention to that regardless of whether or not you have a degree. Your lack of connections or perceived lack of luck isn't the reason why you're poor. Money making is not magical, it's a skill. If people can learn how to be a good lawyer, doctor or policeman, you can learn how to make money. Hard work isn't a sin, but it doesn't guarantee financial success. I raise leverage above hard work, though I may be wrong, that's how I think. I rather think about how I can employ someone to do a part of what I'm currently doing than to think about how to work 5 hours more. I'd rather learn how to use technology to do something for me than to think about how to work 3 hours more. I don't think in terms of hard work, I think in terms of leverage. If you think I'm lazy, thank you. Thank you so much for watching our videos. Are you between the ages of 15 and 40? Then we invite you to join our new channel which was specially created to share with you inspiration and life's lessons to succeed in life. We call it Under 40 TV. Kindly look at the description box to join the Under 40 TV. We love you.