The Oprah Podcast Oprah and Business Leader Mellody Hobson Share the Money Advice You Need to Know Now
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Jan 28, 2025 Mellody Hobson, Co-CEO of Ariel Investments and author of the bestselling children's book, "Priceless Facts About Money," dives into the crucial topic of financial education for kids. She shares her childhood struggles with money and insightful lessons she's imparted to her daughter. The discussion highlights the role of real-life experiences in teaching children financial literacy, advocating for open conversations within families. Hobson also emphasizes strategies for parents to instill financial responsibility, resilience, and the value of money in children.
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Melody's Childhood Struggles
- Melody Hobson grew up poor, experiencing evictions and utility disconnections.
- Her mother's financial struggles and decisions fueled Melody's desire to understand money.
Financial Anxiety and Avoidance
- Many adults experience financial anxiety and avoid discussing money with their children.
- This avoidance transmits their financial habits and fears to the next generation.
Real-World Money Experience
- Parents should involve their children in real-world money situations.
- Giving children practical experience handling money, like paying bills or calculating tips, helps them understand its value.
