Put Confidence above Self-Esteem
You can use both terms “confidence” and “self-esteem” interchangeably. However, when it comes to nurturing a successful child, one is more important than the other, as shared by American psychologist Michele Borba with CNBC in 2022.
Self-esteem reflects how you perceive yourself comprehensively. In contrast, confidence is a measure of your trust in your own abilities in specific situations. Though these two concepts are related, research indicates that confidence is actually a more necessary factor for long-term success.
Confidence helps reinforce a child’s belief that their skills and efforts can lead to positive results, such as achieving high grades or excelling in sports.
Michele Borba emphasizes that parents can boost confidence in their children by allowing them to experience the feelings of both success and failure and encouraging them to solve problems on their own. This will help children learn how to bounce back from setbacks and trust in their own ability to succeed.
Parents can boost confidence in their children by allowing them to experience the feelings of both success and failure.
Learn to Practice Self-Control
Studies have shown that the ability to practice self-control positively affects a person’s future success. According to a long-term study by scientists at the University of Otago in New Zealand, children who learn how to eliminate distractions, regulate their emotions, and control their actions tend to have higher EQ and IQ scores.
When children begin to understand the concept of time, parents should educate them about the importance of managing their time effectively to focus on activities that contribute to personal development.
Empower Children with Decision-Making Authority
In an interview with CNBC, child psychologist Tovah Klein stated that the ability to make decisions is a key factor in helping children become successful individuals in the future.
Parents should encourage children to make their own decisions about preparing study materials or choosing extracurricular activities. Trusting in a child’s ability to be independent contributes to their overall development.
Parents should encourage children to make their own decisions.
Learn to Accept Imperfection
Esther Wojcicki, a popular author and expert in child education, successfully raised three accomplished children, including a doctor and two CEOs. However, she never demanded perfection from her children.
Wojcicki emphasizes the importance of allowing children to experience failure, learn how to solve their own mistakes, and encourage them to have confidence and view failure as part of the learning process.
Studies have shown that pursuing perfection is not necessarily correlated with a child’s future success. In fact, perfectionism can lead to mental health issues such as stress, anxiety, and low self-esteem in children.
Teach Financial Education from an Early Age
Financial education for children, including earning money, smart spending, and saving, is crucial for their future success.
A 2023 report from the National Financial Educators Council in the US revealed that the majority of students in America do not receive early financial education in school, which can lead to financial difficulties later in life.
Margot Machol Bisnow, an expert in raising successful children, interviewed 70 exceptional adults for her book published in 2022 and found that financial education was a common topic they all focused on.
Bisnow said, “The parents I interviewed do not force their children to pursue high-paying careers, but they do teach them about money in various ways.”
Alexa von Tobel, a Harvard graduate, investor, and founder of the financial advisory company LearnVest, also suggests, “Discussing the prices of household items is a practical way to talk about money with your child.”
Equipping children with financial knowledge from an early age can be the key to enhancing their future success.
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