2641: How To Talk To Your Kids About Money & Prepare Them To Be Financially Independent Adults by Christina Browning of Our Rich Journey
Mar 2, 2024
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The podcast discusses the importance of teaching kids about money early, including topics like earning, saving, and investing. It emphasizes starting financial education at a young age and making money conversations a regular part of everyday life.
Start teaching kids about money early to prepare them for financial independence as adults.
Make money discussions a regular part of family conversations to help children grasp financial concepts.
Deep dives
Talking About Money with Kids
Starting financial conversations with children at a young age about the concept of money, differentiating between earning and winning money, and introducing basic financial terms to build their financial literacy from an early stage.
Earning and Saving Money
Encouraging children to understand earning and saving money as interconnected aspects, teaching them the importance of setting up bank accounts, exploring ways to make money through entrepreneurial pursuits, and guiding them to resist impulse buys through learned financial habits.
Investing for the Future
Educating children about the benefits of investing money, explaining compound interest, considering options like custodial brokerage accounts for long-term wealth building, and setting high expectations for children's understanding of money management to establish a solid financial foundation.
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Episode 2641:
Christina Browning of OurRichJourney.com shares transformative insights on educating kids about financial independence through simple, relatable experiences. She emphasizes starting financial education early, incorporating discussions on earning, saving, and investing money into everyday conversations, thus preparing children for a financially savvy adulthood.
"Talk to them about money, talk to them about debt, and talk to them about investing - because the earlier you begin talking to your children about money, the better prepared they’ll be to achieve financial independence as an adult."
"Money should not be a taboo subject. It touches every aspect of our lives every single day."
"You’ll be amazed by what children can grasp when it comes to learning about money."