Smart Money Parenting

Why is integrity important? What do your kids do when no one’s watching? In this episode, Scott Donnell and Chad Willardson discuss why integrity is an important trait in kids. They cover ways parents can teach their kids character and ensure they take responsibility for their actions, especially when nobody's watching. Chad starts the conversation by sharing a sad situation where two young adults caused an accident, looked at the damage, laughed, and walked away. For Chad, the situation shows that kids nowadays lack integrity. He explains that integrity teaches children to take responsibility for their actions, even when nobody’s watching. Scott highlights how integrity can be tricky to teach kids because it’s not as clear-cut as explaining honesty or kindness. When you make mistakes, you have to take accountability. And it doesn’t matter if you think no one’s watching. Your reputation is the only asset you cannot afford to lose because you cannot get it back. Chad explains the role of integrity in developing self-confidence - and how parents can teach it to their kids by modeling honesty at home. Scott talks about the benefits of building and protecting your reputation as a kid. According to Chad, if you don’t have integrity, nothing else matters. Chad explains that you want your kids to be smart with money, be successful, and do great things in life. But if they’re not doing it with integrity, nothing else matters. Scott reveals why parents should teach their kids to do the right thing when no one’s watching. Because the moment they turn 18, and they leave the nest, you’re not watching them anymore. Teach your kids that becoming more trustworthy is the secret to getting more freedom. You get rewarded in public for the great decisions you make in private. Scott and Chad agree that the greatness of a man is not in how much wealth he acquires but in his integrity and ability to affect those around him positively. If you’re unsure about your integrity, Scott believes now is a good time to assess all aspects of your life and start setting a good example for your kids.     Mentioned in This Episode: gravystack.com/smart gravystack.com/igniter smartmoneyparenting.com smartmoneyparenting.com/followus Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

How often do you high five your kids? In today's episode, hosts Scott Donnell and Chad Willardson discuss the benefits of recognizing and celebrating your children's accomplishments, big or small. They also cover why you should praise their efforts and encourage them to pursue their interests and passions. Chad starts the conversation by describing how much morale you can boost in your home by having a positive attitude. The best way to raise a confident kid is to celebrate them. Chad explains how celebrating the little things can create memories that stick with your kids for life. Chad goes through daily moments you can celebrate with your kids at home. Scott and Chad agree that you can change how a kid views something by celebrating it. Scott highlights that celebrating your kids is not about giving them false confidence - because false confidence means a lack of ability. Celebrating is an instant mood changer - think of how a kid instantly lights up when you give them a high five. Chad talks about the benefits of high-fiving your kids on all the little things that they do. According to Chad, parents should celebrate effort, not just celebrate results. It's not always about winning and losing or getting the award. For Scott, celebrating your kids bolsters their self-esteem, their mental health and their ability to take on the world. You want that in your kids. Remember that there are a million little opportunities every day you can use to celebrate your kids. Scott reveals the best marriage advice he ever got - Praise the good in your spouse as much as humanly possible and then leave the rest to God. According to Scott, finding ways to celebrate the little moments every day is not just going to lift your kids up, it's going to lift you up, too.     Mentioned in This Episode: gravystack.com/smart gravystack.com/igniter smartmoneyparenting.com smartmoneyparenting.com/followus Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

Are you a connected family? What is the importance of strong family ties? In today's episode, hosts Scott Donnell and Chad Willardson discuss ways parents can give their kids roots and wings. Roots - give them a sense of belonging and knowing where home is. Wings - give them the freedom to explore and conquer the world. You want them to stay rooted in your family culture, but you also want them to fly off and conquer the world. Are families being destroyed? In 1960, 72% of families had a nuclear family. Today, it's just 45%, and if you're an urban inner-city family, it's just 1%. Chad explains how families are being destroyed with modern leaders pushing for individualism and selfishness. For Scott, your goal as a parent is to have a family that is connected as much as possible. How do you kill a family culture? Scott explains how taking away the chief storyteller kills the culture and connectedness of a family. Scott talks about the value of raising independent kids with the goal of cultivating interdependence and remaining connected to each other. Every family has some form of crazy. But what you can do is take the good, leave the bad and make it better for your kids and the next generation. According to Scott, kids will stay a part of the family if they see you're still connected to your family. If you grew up in a dysfunctional home, as many people have, Chad believes you can be the one that breaks that chain of dysfunction. According to Scott, strong family values are the best way to preserve your family culture. Make them fun, memorable, and engaging. Scott goes through the practical things parents can do to unite the nuclear family when the extended one is in chaos. Make decisions for your great-grandchildren. Scott explains how the decisions you make today with your kids will impact future generations. Scott reveals the shocking driver behind public schools in 1917 - and the systemic plan to remove parents from their children's lives.      Mentioned in This Episode: gravystack.com/smart gravystack.com/igniter smartmoneyparenting.com smartmoneyparenting.com/followus Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

What is the difference between wealthy and rich? In today's episode, hosts Scott Donnell and Chad Willardson discuss the differences between being wealthy and being rich, as well as how kids can learn to differentiate between the two. Scott starts the discussion by describing how true wealth differs from being rich. Chad doesn't particularly like the term "rich" because owning a bunch of status symbols to keep up with the Joneses is not an actual benchmark of success. For Chad, a massive house and an expensive car do not tell you anything about a person's financial situation. Chad and Scott agree that rich is loud and wealth is quiet, most of the time. They further explain that true wealth is built brick by brick over time and living like nobody else today so you can live like no one else tomorrow. According to Scott, these super-expensive status symbols come with a lot of baggage if you don't have wealth. Chad believes trying to be rich is an anxious lifestyle, but living wealthy is real freedom. So kids should aim for wealth instead of riches. You make a living by what you get, but you make a life by what you give. Teach your kids that there's a very big difference between being rich and being wealthy - but it's almost impossible to tell from the outside. According to Chad, there's nothing wrong with owning a big house or a nice car - as long as you can afford it and live within your means. Wealth is wealth. You either have it or you don't. Chad and Scott discuss how the so-called financial gurus mislead people with get-rich-quick schemes that rarely work in the real world. If you own a bunch of nice stuff, Scott believes you should attempt to consistently communicate to your kids about how fortunate you are to be financially stable. For Scott, being wealthy is when you make wise money decisions, have your finances in order, and own assets that can withstand the test of time.     Mentioned in This Episode: gravystack.com/smart gravystack.com/igniter smartmoneyparenting.com smartmoneyparenting.com/followus The Billionaire Who Wasn't: How Chuck Feeney Secretly Made and Gave Away a Fortune by Conor O'Clery Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

Can kids learn about sales without being sleazy? In today's episode, hosts Scott Donnell and Chad Willardson discuss why parents should stop telling their kids that selling is sleazy. They also reveal the sales skills every kid must learn and why sales is not about tricking people into giving you money. Scott starts the conversation by describing his definition of sales and why most people dislike the art of selling. Sales is not sleazy because everybody sells. According to Chad, if selling makes you feel sleazy, you're doing it wrong. Scott reveals why sales is not about tricking people into giving your money. Instead, it's about understanding their DOS - Dangers, Opportunities, and Strengths. Chad talks about pushy salespeople and how they give sales a bad rep. Chad and Scott break down the right approach to sales and why it's never a good idea to sell something you don't believe in. You kids will be selling and persuading people their whole lives. The least you can do is tell them that selling is not sleazy. For Scott, if you're trying to sell something that doesn't help people's lives get better, quit your job. Don't do that anymore. Don't have "sales" be a curse word in your home. For Scott, sales is not sleazy when you do it correctly. Chad and Scott agree that the core principle of selling is figuring out what somebody else wants or needs and solving that problem for them. According to Scott, people want to buy things that help their lives but don't want to be sold to or tricked into buying things they don't want. Chad goes through the benefits of learning how to sell - if your kids can learn to sell, they can do anything they want in life. To get better at selling, Chad believes you need first to get better at listening, questioning, and then obsess over helping people get what they want.     Mentioned in This Episode: gravystack.com/smart gravystack.com/igniter smartmoneyparenting.com smartmoneyparenting.com/followus Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

What does the future of education look like? In today's episode, hosts Scott Donnell and Chad Willardson discuss how education is slowly moving online and ways parents and kids can use the internet to learn skills necessary for succeeding in the real world. Chad and Scott start the discussion by describing how the internet will change education as we know it. For Scott, education should be about kids learning practical skills that they can use to succeed in the real world. It’s so unfortunate that modern education focuses primarily on good grades and memorizing theoretical concepts instead of equipping kids with practical life skills. Scott reveals the reasons most parents don’t believe in online education. Scott talks about the critical thinking and practical skills kids and adults can earn online. Scott and Chad discuss the things parents can do to ensure their kids don’t become addicted to technology use and social media. As a parent, you must have rules in your home where your kids use technology for education, not entertainment. Chad and Scott agree that the world is a classroom, and you can learn anything you want to learn for free online. Chad is convinced that education has moved online, and it doesn’t matter whether we’re ready for it or not. According to Scott, education needs to be ranked and prioritized based on how it creates value in the real world. Scott talks about online safety and consuming the right online content. You must be careful online because if you don’t know what ‘they’re selling,’ then you are the product they’re selling. Chad describes the effectiveness of online learning and why it only makes sense when the acquired knowledge leads to action. For Chad, you can’t run away from technology. Your kids will be on screens, so always ensure that what they are consuming online is productive.     Mentioned in This Episode: gravystack.com/smart gravystack.com/igniter smartmoneyparenting.com smartmoneyparenting.com/followus Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

What is the secret to raising exceptional kids? In today's episode, hosts Scott Donnell and Chad Willardson discuss the necessary parenting skills to raise Rockstar kids. From fostering a supportive environment to cultivating discipline, creativity, and resilience, the duo uncovers the secrets behind empowering young minds to shine like true stars. Chad and Scott start the conversation by describing the joys of raising super successful kids. Chad shares how his eldest daughter is winning in almost all aspects of her life. Chad talks about the power of patience, persistence, and discipline in raising rockstar kids. The one thing you want as a parent is to have kids whoknow they can try new things, and if they put in the work, the results and the rewards will follow. Chad reveals the power of setting high expectations for your kids and giving them the resources they need to succeed. Scott and Chad agree that the excitement and enthusiasm to try something new is something all parents must foster in their kids. Scott reveals how consistent little wins can yield big results. As parents, we often underestimate our kids. We don't give them enough credit or think they are incapable of anything. According to Scott, your kids can do things you never thought possible - from learning new skills to solving problems and taking initiative. For Chad, the biggest mistake parents make is labeling their kids and putting them in a box where they cannot try new things. Chad shares things parents can do to help develop their children's curiosity. Chad talks about children taking risks and the mindset your kid needs to develop to succeed in the real world. Scott describes how parents can nurture creativity in their kids by encouraging curiosity and allowing them to try new experiences.     Mentioned in This Episode: gravystack.com/smart gravystack.com/igniter smartmoneyparenting.com smartmoneyparenting.com/followus Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

What are you most afraid of when it comes to raising your kids? In today's episode, hosts Scott Donnell and Chad Willardson go through the five nightmares all parents have with their kids. They cover the foundation of healthy parent to child relationships, what it takes to raise self-sufficient kids, and why deep down, all kids crave independence. Scott and Chad start the conversation by describing the incredible journey to getting GravyStack online. For Scott, there's no better feeling for a parent than when a kid stops asking for money. Scott and Chad go through the five nightmares all parents have with their kids and how to deal with them. According to Chad, no matter how busy you are, you must create time for real conversations with your kids. It's so unfortunate that many parents see their kids as liabilities. However, Scott is convinced that when you make your kids self-sufficient, they will become valuable contributors in the home. Chad shares how you can effectively prepare your kids for the real world. Scott and Chad discuss ways parents can create a system where kids can learn how to cover their own expenses. For Scott, giving your kids money they did not work for is a lose-lose situation. If you give in, you'll feel guilty for raising entitled kids. If you don't, then your kids see you as the bad guy. Scott and Chad agree that the biggest win for parents is when their kids are motivated to do stuff on their own. The best businesses in the world are solving the customer's deep needs and pain points. Fear just shows that you're unprepared and haven't done the work ahead of time. Did you know that 93% of shared time between parents and kids happens before their 18th birthday? According to Scott, you shouldn't feel guilty when your kids take ownership of their lives. Your goal is to raise accountable kids that don't think the world owes them anything. As your kids grow older, Scott believes you need to move from parent-guardian to coach-friend if you want to maintain a strong relationship into adulthood. Have you ever felt like time is ticking and your kids are growing up too fast? Scott shares how you can build a better relationship with your kids before it's too late. Chad talks about the dilemma most parents experience: I want to be a friend to my kids, but I cannot neglect my duty as a parent. Deep down, all kids want to be independent. You do not want nagging and the constant push-pull between parents and kids in your home. Scott reveals a stress-free system parents can use to maintain a healthy home - a system kids willingly want to follow and enjoy following.      Mentioned in This Episode: gravystack.com/smart gravystack.com/igniter smartmoneyparenting.com smartmoneyparenting.com/followus Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

Do you know about the Tuttle Twins? If not, what resources are you using to help your kids develop critical thinking skills about real-world concepts? In today's episode, Scott Donnell and Connor Boyack discuss ways parents can explain economics, money subjects, and political principles to kids of all ages. Connor Boyack is the founder and president of Libertas Institute, a free market think tank in Utah. He is best known for The Tuttle Twins books, a children's series introducing young readers to economic, political, and civic principles. Scott and Connor start the conversation by talking about the Tuttle Twins Series and how it is impacting kids worldwide. If you want to teach your kids anything, you must find a way to make it engaging; otherwise, it won't stick. Scott explains what most parents don't realize about raising kids - anything you teach them today is a seed planted for their future success. Connor reveals the things parents should focus on if they want to raise super successful kids. Connor breaks down a survey where more than 50,000 parents were asked about the school system and why they send their kids to school. From the survey, the researchers found that parents primarily wanted their kids to learn practical skills and critical thinking, which are, unfortunately, not emphasized enough in today's curriculum. Connor and Scott agree that parents will get greater results if they learn financial literacy alongside their kids. Scott highlights the two main reasons parents avoid talking about money to their kids. According to Connor, learning doesn't have to be inside a classroom to be effective. Your kids can learn just as much at the dinner table. For Scott, life is your playground as a parent; you can make everything an incredible lesson for your kids. Connor does not believe we can pass some law and fix the issue of financial illiteracy. If we're going to save the future generation, it has to start at the dinner table. The best messages in the world are so easy that a 5-year-old can understand them. Scott reveals that kids learn by having fun and through real-world experience. The fun makes it motivating and the real-world experience gives them capability and confidence to succeed.     Mentioned in This Episode: gravystack.com/smart gravystack.com/igniter smartmoneyparenting.com smartmoneyparenting.com/followus Tuttletwins.com Connor Boyack’s LinkedIn Download the Angel App Here: Angel.com Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

Is having a purpose in life more important than chasing money? In today's episode, hosts Scott Donnell and Chad Willardson discuss why you need to help your kids find their purpose and the financial rewards of chasing purpose instead of money. Chad and Scott start the conversation by talking about their life's mission and why it has never been about making money - all they want is to help parents raise amazing kids. According to Scott, purpose is greater than money. People need a purpose more than they need money. For Chad, if you're chasing money without a purpose, you're going to be empty, unfulfilled, and unsuccessful. Chad and Scott agree that when you chase purpose and get people on board with that mission, the abundance and financial rewards are unlimited. Giving your kids an allowance without making them work for it makes them grow up thinking they deserve a bunch of free stuff from the world. Scott describes how money cannot make you happy. He knows many rich people who are wealthy but too miserable to enjoy life. It's easy to spot someone who is just chasing money without purpose; they don't care about impact and don't care about people. Chad is convinced that throwing money at people's problems will not solve anything. They are not going to be happier, and they're probably going to spend their way back to being broke. The point of life is not just to get rich. The point of life is to find purpose and find ways to love. According to Scott, you have to chase purpose more than you chase financial rewards. Financial rewards come after you find your purpose and become valuable. Chad and Scott agree that it's hard to make money. You can only do it through hard work, discipline, and creating value. Chad talks about finding your mission and how doing what you were born to do will ultimately lead to financial rewards. Scott reveals the trilogy of finding your purpose - these are the things you love, the things you're good at, and finding ways to solve other people's needs.     Mentioned in This Episode: gravystack.com/smart smartmoneyparenting.com smartmoneyparenting.com/followus What's in It for Them?: 9 Genius Networking Principles to Get What You Want by Helping Others Get What They Want by Joe Polish Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell