Wealth Without Bay Street 173: Kids And Money: The Power of Home Economy
How do you teach your kids to create value? Simple, we gamify it with a fun app for parents and kids!
It's so important to remember that the financial habits we teach them now have a ripple effect on their future. By showing them the right mindset, giving them knowledge, and honing their skills, we set them up for success.
But what if parents have difficulty teaching their children about money management because they may not have the necessary skills? Seek help from experts like Scott Donnell, who we, fortunately, brought with us here on the show. His book, Value Creation Kid, was recently released and has already become a Wall Stree Journal Best Seller! Parents are connecting with the valuable insights and unique perspectives Scott offers.
Get Your Copy of The Value Creation Kid Book here:
Find the Forbes article mentioned in this episode here:
FREE report 7 Simple Steps to Becoming Your Own Banker – http://7steps.ca/
Get our Bestselling Books:
- Canadians Guide To Wealth Building Without Risk: https://wealthwithoutbaystreet.com/wwbs-book-1/
2. Cash Follow The Leader: https://cashfollows.com/
IN THIS EPISODE, YOU WILL LEARN:
[1:05] Let's game, learn and earn together with Scott Donnell
[3:00] Creating a huge movement and the value in reading Value Creation Kid
[6:04] Surprise gift for Ascendent Financial clients
[7:44] GravyStack app as the world's first banking and investing app for kids and teens that plays like a game
[12:18] Financial education is in the home where it happens
[13:55] The 3 problems of giving allowance
[15:38] Understanding the home economy. 3E's: Expectations, Expenses and Extra Pay
[17:17] Teaching kids create value to cover their expenses, real budgeting and the expectations in the home
[19:57] Jayson’s story of truly appreciating the value of a buck and going out and earning it
[21:52] Teaching healthy struggles to kids
[22:36] The overwhelming majority, ages 6 to 18 don't want to talk about money at all
- Kids can't learn money like homework. It just doesn't work.
- Financial Education starts at home.
- Teach your kids the healthy struggles they need to succeed.
- Enable a child to understand the value of making and respecting money.
- Gamify saving money for kids and teens.
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Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/
💸 Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/
EVA – Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/
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