Season 2. Episode 5. Money! We are talking abut how to teach your kids about money, saving, spending and how to be a financially savvy adult.
70% of families lose their wealth in the 2nd generation. We don’t want our kids to be poor and we don’t want yours to be either!
Today’s guest is helping parents raise money-smart kids. She’s a mom, CPA and founder of Kids Money Academy.
3:10- What age should we be starting to talk to our kids about money?
4:55- How much of an allowance should our kids get? $1/age
6:15- Save, spend, give jars
8:40- A lighthouse parent
9:50- Gift giving. What relatives should be getting instead of toys?
10:45- How do we teach the value of money?
14:10- Allowances. How can you learned how to manage money if you don’t have any?
14:45- Do they earn an allowance or do we just give them money?
16:25- Should it be tied to anything?
25:20- Why schools are not teaching enough personal finance and what we can do about it.
30:00- Biggest mistake families are teaching kids about money
32:55- Should kids get a job?
37:00- Teaching kids about investing
39:00- Kids Money Academy and what Dee offers.