Ep: 25: Raising Financially Savvy Children

An episode of the Wait on Purpose podcast, hosted by Trici Noel, titled "Ep: 25: Raising Financially Savvy Children" was published on January 23, 2020 and runs 33 minutes.

January 23, 2020 ·33m · Wait on Purpose

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Summary

****Salad Course**** As parents we understand the importance of teaching our children about sex and drugs, we teach them how to be a team player by putting them into sports. We teach them responsibility by giving them chores but why do we shy away from teaching our children about budgeting, compound interest, investing and healthy money management? Money management is not one of those kitchen table conversations. It's a mindset that starts young. Money Management wasn’t something I was taught at a young age. I knew how to earn it but I didn’t have an ounce of knowledge about growing it and saving it. By the time I was 21 years old, my credit was poor and I adopted poor money skills that became second nature to me. If I knew at least half of the things I know now growing up, It would’ve prevented so much headaches, stress and mistakes I’ve made in my adult life concerning my finances. As parents its our responsibility to lay the foundation of healthy money management habits for our children. Every step they take or choice they make from high school to college to retirement will be influenced by how they manage their money In this episode i discuss a few seeds we can sow into our children about money, as young as the age of 3, that has the potential to grow them into financially savvy and healthy young adults. Financial Resources for Children: The Black Business School: (Highly recommended!!) https://theblackbusinessschool.com/p/15-financial-concepts-that-every-black-child-needs-to-know https://theblackbusinessschool.com/p/the-black-millionaires-of-tomorrow-4-in-1-package NerdWallet: https://www.nerdwallet.com/blog/finance/talk-kids-money/ Prosperity4Kids: http://www.prosperity4kids.com/links.shtml Center for Economic & Financial Education (CEFE) http://www.cefe.illinois.edu/links/#links13 Sense and Dollars: http://senseanddollars.thinkport.org/links/ *********************** Check out Bros with Goals (A small business started by two brothers with future goals) T-shirts on sale Fruit and vegetable cups and small gallons of alkaline water to promote health! Find them in a barber/beauty/nail shop and gym near you! Looking for an awesome illustrator? Champ has mad skills. Contact us for a free consultation. Tell us your vision for your project (book, website design, logo, etc and) we'll make it happen. New book coming soon; Written and illustrated by my sons: Champ and Duke) Pre-order sales opens February 1st! https://www.steppinguptotheplateoflife.com/broswithgoals