E16: How to Teach Kids About Money
In this episode, we will discuss how to teach kids about money and the biggest mistake parents make. You see, there are three big mistakes parents make when teaching kids about money, and what you can do instead to help them have a healthy relationship with money.
How to teach kids about money is an underserved topic. It’s also a very interesting topic because each person has their goals to teach with their kids. But there are a few common mistakes that people can make when teaching kids about money. These are points nearly everybody can probably agree with, to a certain extent.
And in this episode, we also discuss the topic from two different perspectives: Parents of young children just starting to approach the subject and parents of more mature children needing to further the discussion.
So join us as we dispell mythise and bring some sunshine to your outlook.
Teaching Kids about Money Topics Discussed:
- The importance and impact of practicing what you preach
- Teaching kids about saving vs. spending
- The credit card talk
- Helping kids not make our mistakes
- The importance of busting the magical money tree myth
- The dangers of never formally discussing money with kids
- Instant gratification and interest vs. saving for
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