Mindy Paul, a 47-year-old wealth accumulation expert, said he began to recognise last year that his daughter Dani, now 13, was getting everything she wanted ‘too easily’
A millionaire dad who cut off his daughter financially at the age of 12 after realising he was spoiling her said she has since earned £1,200 a year selling clothes online, learning “the value of hard work”.
Mindy Paul, a 47-year-old wealth accumulation expert, said he began to recognise last year that his daughter Dani, now 13, was getting everything she wanted, from Gucci handbags to Ralph Lauren clothes, “too easily”.
So when Dani asked for a new iPhone, he decided to challenge her to earn £200 in 30 days to contribute towards it. Mindy said she sold her old clothes on Vinted and made £500 on her own, within the timeframe, quickly learning the value of earning her own income.
To encourage her to become more financially independent, Mindy said he put a new rule in place: he would only cover essentials, and any extras, such as jewellery or posters for her bedroom, would need to be paid for from her own earnings.
Over the past year, Mindy said Dani has earned around £1,200 by selling old items on Vinted and eBay and taking commissions from selling clothes for her mum Samantha, 45, a money coach. Dani used the money to buy Pandora charms, save for acting lessons and pay off some of her iPhone.
Mindy said Dani wants to start a small online business selling printed T-shirts, and he encourages her to celebrate her successes, even showing her his bank account regularly and having “money parties” where he showers his children in cash.
Mindy, who lives in Bedfordshire, told PA Real Life: “I’m very successful now, making lots of money, but I realised my kids were getting everything they wanted like clothes from Ralph Lauren and Gucci handbags without a second thought.
“It was so easy for them – I really felt that was irresponsible as a parent and as someone who’s wealthy.
“But I think now Dani has learnt the value of hard work.
“When I made £9,000 in a day, I had it all in cash and had our first money party with my kids – they had a money shower, throwing all the cash in the air and celebrating.”
Over the last five years, Mindy said he has “become a millionaire” through owning properties and his consultancy company.
He has since dubbed himself the 100 million dollar coach, helping businesses scale up and teaching others “how to make as much money” as possible.
In 2024, when Dani was 12, she begged her dad for an iPhone and Mindy began to realise that his children were getting everything they wanted “too easily”.
To encourage her to become more financially independent, he set her a challenge – she could have the iPhone if she earned £200 within 30 days towards the cost, and then repaid the remaining £1,000 over the following 12 months.
Within 30 days, Mindy said Dani “smashed her target”, earning around £500 by selling clothes she had outgrown.
From that point on, Mindy said he cut her off financially, aside from food and essentials – any extras she wanted, such as designer clothes or jewellery, she had to buy for herself.
Mindy said Dani was “inspired” by the new rule and did not push back against it. She began selling more items on Vinted and eBay, such as old football boots, football tops, toys and a PlayStation.
“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 explained.
He has encouraged his son Nayden, 14, to do the same – he has sold some games and a camera online.
Mindy said he has had a lot of support from other parents about the rules he put in place for Dani, with many saying they wish they could do the same with their children.
He said Samantha was also “really happy about it”. She had never sold anything online before and was impressed with her daughter’s skills.
“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 added.
Since earning her own income, Dani has made around £1,200 and is saving up for acting lessons while paying off her iPhone in chunks.
She has also treated herself to Pandora bracelets and charms and posters for her bedroom.
“She’s definitely starting to budget her money – if there’s three things she wants, she’ll buy the thing she’ll get more use out of,” Mindy said.
“She had her hair done the other day and paid 40 quid for it herself, which I thought was beautiful.”
To those who may disagree with his parenting style and think it is too harsh, Mindy 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.
“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.”
Mindy shows his children his bank account to encourage conversations around money, and has had “money parties” where he and his family shower themselves in cash.
“I have thousands coming in every single day and I show them – I show them how important it is to work for yourself and it’s a way to create wealth,” he added.
To other parents wanting to teach their children about money, Mindy 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.”
Looking ahead, Dani is considering buying a T-shirt printing machine to start her first business.
Mindy said: “I’m very proud of her and she’s matured so much since doing the challenge.
“She’s seen how daddy has lots of money and how easy it is to actually make money.
“Now she says she wants this lifestyle – she wants lots of money and wants to live in America when she’s older.”
#Millionaire #dad #cuts #12yearold #daughter #realising #spoiled
