How to Teach Your Children About Money with Gabe Brenner

On this episode of If Money Were Easy, Mary Beth and Neela are joined by their colleague and fellow partner at Abacus, Gabe Brenner, CFP® to discuss teaching children about the true value of money. They explore the hands-on "three jars method," also known as Spending, Saving, and Sharing Jars, navigating allowance, and the importance of allowing kids to make financial mistakes early in life. The three of them talk about the balance between autonomy and guidance, from tactile cash handling to digital banking savvy and discuss the importance of creating a space for kids to fail safely and how it can be a key to building their financial confidence. Tune in to learn some savvy money lessons you can incorporate into your child's financial journey to adulthood. For additional resources, information, and a full transcript of the episode, visit our website. To access our podcast disclosure information, visit this page. What You'll Learn in this Episode: A few ideas on how to raise financially savvy children How to educate children about money without spoiling them The three jars method, also known as the spend, save, share approach The importance of encouraging your children to give some of their money away and the lasting effects it can have on them How to allow your children to have small financial failures to learn from The best way to approach an allowance and if it should be tied to chores A method to teach your children about interest and the benefits of saving How Gabe handled a clothing allowance for his daughters growing up What it looks like when your children reach driving age and some things to consider Stay Connected: Connect with Gabe on LinkedIn or reach out at [email protected] Join the Abacus community by connecting with us on Facebook, Twitter, Instagram and on LinkedIn Connect with Mary Beth on Twitter, Instagram, and on LinkedIn Connect with Neela on Twitter, Instagram, and on LinkedIn