Are you making these money mistakes with your kids?
What are the best ways to bring up the concept of saving and investing with your kids?
John Lanza joins us in this episode to talk about financial literacy for kids. He talks about topics such as, age-appropriate conversations about money, allowance, and how important it is to have your kids learn how to save up for a goal at an early age.
He talks about some of the basics that you should teach your kids are: needs vs wants, smart money choices, saving for goals, the importance of them making mistakes for themselves, charity, and why being thoughtful about money is important.
Additional topics John discusses on the show:
- How you should teach your children to save for goals.
- How do you introduce the concept of investing to your kids?
- The best way to teach your kids about charity
- Learn how your kids can pay themselves first with a spend smart jar.
- Using physical cash vs. a digital allowance
- What should your kids be financially responsible for,
- The importance of autonomy
Then the panel discusses kids and investing.
Drive – The Surprising Truth About What Motivates Us – Daniel Pink
Looking for a better way to invest? Consider Betterment.
It doesn’t cost much to start, and you get access to a portfolio built around your risk tolerance and your goals. Using Modern Portfolio Theory, pioneered by a Nobel laureate, Betterment can help you build wealth without getting caught up in the noise of the market.
Invest better with Betterment.
Today’s guest, John Lanza:
John is Chief Mammal, Creator of The Money Mammals and author of The Art of Allowance.
He is on a mission to help families raise money-smart, money-empowered kids so that they can live happier, more fulfilled lives.
Miranda Marquit | Planting Money Seeds
Jackie Beck | JackieBeck.com
Kirk Chisholm | Innovative Wealth
Tim Picciott | The Liberty Advisor