

AAR09 - Financial Literacy in Childhood
Aug 5, 2025
Dave Ahern, a frequent personal finance expert, shares insights on the crucial role of financial literacy in childhood. He reflects on his own financial upbringing and discusses how different parenting styles can influence a child's relationship with money. The conversation covers essential topics like budgeting basics, the FIRE movement, and the use of custodial accounts. Ahern provides practical tips for parents on instilling good financial habits, emphasizing the importance of involving kids in financial decision-making to promote long-term financial well-being.
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No Childhood Financial Education
- Dave Ahern had no financial education growing up, which made starting his financial journey overwhelming.
- He had to learn basics like opening a bank account and balancing checkbooks on his own.
Kids Absorb Parental Money Attitudes
- Financial habits and attitudes deeply influence children even if unspoken.
- Kids absorb the emotions and behaviors around money, affecting their future financial mindset.
Sibling Money Habits Differ
- Financial struggles in childhood led Dave and his sisters to have distinct lifelong money behaviors.
- Dave became very frugal, one sister spent frequently, and the other was moderate, showing different reactions to the same environment.