This is the simple way to make sure your kids don't grow up spoiled, according to Barbara Corcoran. via CNBCMakeIt
Self-made millionaire and"Shark Tank" star Barbara Corcoran had a very different upbringing than her own kids. She and her nine siblings grew up in a cramped apartment in Edgewater, New Jersey. By age 23, she had already worked 22 jobs.
Corcoran, who turned a $1,000 loan into a $66 million real estate empire, says she"couldn't care less" about what her two kids think about her and her business."What I care about is they grow up and not be spoiled rotten," she tells journalist Farnoosh Torabi for CNBC Make It. The key to making sure they don't grow up"spoiled rotten," says Corcoran, is to encourage them to earn their own money from a young age:"Getting a kid a job early on, versus another day camp or something, is more important than education in the schoolhouse, which parents are very willing to spend a ton of money on."
When your kids start making their own money, they'll also learn to start managing it, and you can lead them into conversations around saving and investing.
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