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Achieve Your Goals with Hal Elrod

522: How to Teach Your Kids About Money with Scott Donnell

Feb 21, 2024
Scott Donnell, co-author of 'Value Creation Kid', shares insights on teaching kids about money, focusing on heritage over inheritance, side projects, and adding value. He emphasizes healing own money issues to avoid passing them down. The podcast discusses the importance of financial education, family legacy, and fostering a value creation mindset in children.
39:21

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Focus on heritage, not inheritance to ensure generational progress.
  • Teach kids the value of adding value, encouraging entrepreneurship and critical thinking.

Deep dives

Teaching Kids About Money

The podcast episode discusses the importance of teaching kids about money. It highlights the need for parents to actively educate their children about financial literacy and provides strategies for doing so. The episode emphasizes the value of teaching kids to create and earn their own money, rather than relying on allowance. It introduces the Gravy Stack app, which gamifies teaching kids about healthy money habits. Scott Dunnell, the guest on the podcast, shares his expertise and insights on how to instill financial competency in children.

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