Mom & Entrepreneur Shares 3 Money Lessons Her Kids Learn by Watching Her Thrive
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- Ja'Net Adams was laid off from her job in 2008 when her son was only one year old.
- Since then, she paid off $50,000 worth of debt, started her own business, and left her full-time job.
- Watching her work teaches her kids curiosity, work ethic, and working toward long-term goals.
In 2008, Ja'Net Adams (pronounced juh-nay ) was laid off from her full-time job in pharmaceutical sales in Kernersville, North Carolina.
In an interview with Business Insider in 2022, she said, “During a single phone call, we lost 60% of our family’s earnings along with our health coverage. At the time, we also had a one-year-old child.” Utilizing the four months when she was let go from work, Adams started developing a more comprehensive strategy for her upcoming years. clearing $50,000 in debts , launching her own venture, and departing from her full-time role with minimal stress involved.
Fourteen years later, Adams succeeded in accomplishing all three goals, with her two kids, JR and Jocelyn, having prime views from the front row. She mentioned that these were three crucial life lessons her children absorbed just by observing her in action.
1. Inquiring about finances and commercial matters
Adams appears on an NPR podcast titled Marketplace Money with her children present. She mentioned to Business Insider, "My kids dislike talk radio, but I can see that it has an impact; they pick up something from it."
Her children didn't hesitate to inquire about the reasons behind store closures during the pandemic, and Adams did her utmost to provide explanations. She mentioned, "They asked me why certain shops shut down permanently, which allowed us to discuss topics like the supply chain disruptions."
Adams mentions that her children were distressed when Chick-fil-A had no more sauces available, which led her to use the situation as a chance to teach them about how the pandemic has caused an increased demand for products alongside reduced supplies. She commented, "That lack of Chick-fil-A sauce momentarily turned into something disrupting their lives."
2. The significance of having a robust professional attitude
Adams mentioned, “My children know that unless I catch it myself, I won’t have anything for dinner.” When his kids inquire about him being on his computer responding to emails late at night, he explains, “There are individuals in California who are still busy with work, and those in Hawaii might be starting their morning right now.”
Her children grasp that the time their mother dedicates to her job directly equates to having meals on the table and a home above their heads.
3. Strategies for pursuing long-term objectives
Adams mentioned that her role as a debt payoff coach provides her children with a distinctive view of deferred satisfaction, assisting them in striving for their future objectives.
She explained, “They don’t necessarily need to be included in the more serious discussions between parents,” but suggested starting with simple explanations like why they cannot get a toy from stores such as Walmart or Target. Whenever her children request toys, she redirects their attention towards remembering their longer-term objective: visiting Disneyland for their birthdays or receiving something even better later on.
This attitude aids them in grasping the concept of delaying satisfaction, and Adams believes it nurtures a positive approach towards debt and finances as time progresses.
Not sure how to begin? Think about consulting a financial advisor.
Finding a financial advisor It doesn’t have to be complicated. Use SmartAsset’s free tool to find up to three fiduciary financial advisors in your vicinity within minutes. These advisors are vetted and must adhere to a fidiciary standard, ensuring they work in your best interest. Start your search now.
The initial publication of this article took place in March 2022.
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