Millionaire University
103. Monopoly Money Mastery: Teaching Kids the Value of Wealth with Adam Carroll - Part 1 of 3
Apr 15, 2024
Financial education advocate, Adam Carroll, discusses teaching kids about money through hands-on learning, including using real cash in Monopoly. He shares his journey to financial wisdom, creative ways to teach kids about money, and core truths about money beliefs. Carroll emphasizes starting small with saving for the future.
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Quick takeaways
- Involving children in budget decisions early on instills financial awareness and encourages smart financial choices.
- Introducing real money experiences like playing with cash in games can significantly impact children's financial behaviors and decision-making skills.
Deep dives
Instilling Financial Responsibility in Children Through Hands-On Learning
Parents can empower their children to understand financial responsibility by giving them firsthand experience with money management. By involving kids in decision-making processes like budgeting and expenditure tracking, they can learn the value of money early on. Creating tangible learning opportunities, such as turning gift-giving occasions into deposit seasons for education funds like 529 plans, can instill financial awareness and encourage smart financial choices.
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