A MILLIONAIRE dad has revealed he’s cutting off his daughter, 13, as he thinks she’s too spoiled.
Mindy Paul, 47, became concerned last year that his daughter Dani was getting Gucci and Ralph Lauren buys “too easily”.
Millionaire Mindy no longer splashes out on designer handbags for Dani[/caption]
Dani now has to pay for things herself[/caption]
So, when the tween begged her dad for the latest iPhone, the wealth accumulation expert challenged her to make the money to buy it herself.
Dani jumped at the challenge and sold some of her designer clothes on Vinted, quickly making over £500.
Following Dani’s success, Mindy put a new rule in place, stating that he would cover essentials, such as food and school uniform, but that anything else would have to be paid for by his daughter.
The mini entrepreneur has now made £1200 in a year, from flogging items on Vinted and eBay, including commissions earned from selling mum Samantha’s clothes.
“She’s always looking out for things around the house that she can sell and we no longer use.
“We used to take bags and bags of clothes to charity shops and now she sells them,” Mindy told PA Real Life.
Dani has used the money to pay for Pandora charms, acting lessons and some of her iPhone costs.
She even wants to start her own business selling printed t-shirts, and Mindy is so happy that his daughter now understands the value of money.
Mindy is also encouraging his son Nayden, 14, to do the same, and the teen has had some success flogging some games and a camera.
The dad, from Bedfordshire, revealed he has had lots of positive feedback from other parents, who wish they could do the same with their children.
Samantha has also been very impressed by Dani’s skills, as she herself has never sold anything online.
“She (Samantha) gets Dani to sell stuff for her as well, so now we’ll give her a little commission just to give her an idea of how commission structures work,” Mindy said.
“She’s definitely starting to budget her money – if there are three things she wants, she’ll buy the thing she’ll get more use out of.
“She had her hair done the other day and paid 40 quid for it herself, which I thought was beautiful.”
And to anyone who doesn’t agree with his parenting style, he said: “Life is harsh – I’d rather prepare my children so that when tough times come, they don’t have to go back into their shell.
Different parenting styles explained
There are four recognised styles of parenting explained below:
Authoritarian Parenting
What some might describe as “regimental” or “strict” parenting.
Parents with this style focus on strict rules, obedience, and discipline.
Authoritarian parents take over the decision-making power, rarely giving children any input in the matter.
When it comes to rules, you believe it’s “my way or the highway”.
Permissive Parenting
Often referred to as “soft parenting” or “yes mums/dads”.
Permissive parents are lenient, only stepping in when there’s a serious problem.
They’re quite forgiving and they adopt an attitude of “kids will be kids”.
Oftentimes they act more like friends than authoritative figures.
Authoritative Parenting
Authoritative parents provide their children with rules and boundaries, but they also give them the freedom to make decisions.
With an authoritative parenting style, parents validate their children’s feelings while also making it clear that the adults are ultimately in charge.
They use positive reinforcement techniques, like praise and reward systems, as opposed to harsh punishments.
Neglectful or Uninvolved Parenting
Essentially, neglectful parents ignore their children, who receive little guidance, nurturing, and parental attention.
They don’t set rules or expectations, and they tend to have minimal knowledge about what their children are doing.
Uninvolved parents expect children to raise themselves. They don’t devote much time or energy to meeting children’s basic needs.
Uninvolved parents may be neglectful but it’s not always intentional.
A parent with mental health issues or substance abuse problems, for example, may not be able to care for a child’s physical or emotional needs consistently.
“They know they can actually produce income and survive.
“It’s a bit like teaching your kids how to swim – if not, they’ll drown.”
Sharing advice for other parents who want to implement similar rules, he said: “I think setting a goal for something they want to buy is a good idea.
“If they want a new game for their PlayStation, they can save up for it, and then they don’t have to wait for Christmas to have everything.
“It teaches them the value of money.”