Scott and Chad are back at it for 2024 and excited to bring you more great content. In this episode, they discuss the importance of teaching kids about financial independence at an early age. They identify three ways to make money: selling time, selling products, or investing capital. They emphasize the potential of the digital era that allows children and teenagers to learn anything for free and create passive streams of income. The idea is to motivate kids to think beyond the traditional hourly wages or salary jobs and explore creative ways of making money. In addition, the potential value of transformative approaches such as investing capital at a young age, drop shipping businesses or creating a tech product is highlighted.
00:00 Introduction
00:41 Welcome to Smart Money Parenting
01:32 The Three Ways to Make Money
02:40 Examples of Selling Time, Products, and Investing Capital
07:42 The Power of Compounding Interest
09:56 The Importance of Diversifying Income Streams
13:11 The Value of Results Over Time and Effort
15:46 Conclusion: Encouraging Kids to Think Outside the Box
Additional Links
Want to take your family and your finances to the next level? Schedule a call with Dinner Table today.
https://scott.dinnertable.com/book
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https://apps.apple.com/us/app/gravystack-gamified-banking/id1635188175
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Chad’s Best Seller Book:
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest
Scott’s Best Seller Book
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed
Socials
Scott Donnell on LinkedIn - linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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