The Art of Allowance Podcast | Parenting | Families | Money Smarts | Financial Literacy

As with a plane’s flight systems, we need all three major financial socialization systems operating effectively and with sufficient redundancy in order to best ensure our kids grow up money-empowered. Today’s episode is a bit of an experiment. I’ve recorded an audio version of my recent essay, No Single Point of Failure. I hope you enjoy this as I plan to record more short episodes that I’ll intersperse amongst the conversations you already listen to.  In the show notes for this episode, I’ll make sure to include my social links and a registration link for my weekly newsletter, 3 Ideas to Share & Save. Please reach out and let me know what you think of these short audio nuggets. I hope you enjoy this first one.

How can you cultivate an entrepreneurial spirit in your children? Kirk Drake offers tips and tricks for your kids' budding businesses during his appearance on The Art of Allowance Podcast. Kirk is a lifelong entrepreneur, an author, and the founder of CU 2.0 and the Painted Hills Credit Union Service Organization (CUSO). He is a credit union and technology enthusiast who has built ten successful businesses, notably the Ongoing Operations CUSO, CU Wallet, CU 2.0, and Loanify. He also serves as an advisor to many more. Kirk is the author of CU 2.0: A Guide for Credit Unions Competing in the Digital Age. Additionally, as a featured speaker, Kirk helps audiences understand the current state of credit unions, the imminent need to adapt into current digital technologies, and how to regain crucial market share in the banking industry. When Kirk isn’t busy helping credit unions be relevant in today’s digital age, he loves spending time with his beautiful wife Kimberly and their three amazing kids. The family also owns a vineyard and winery called Resistance Wine Company in Southern Oregon.

Ever wonder what it would be like to chat with the original Money Mammal? Then wonder no more! Eileen Lanza is a real estate investor and a Top Producer/Realtor with Keller Williams Realty in Los Angeles, where she lives with her two daughters and yours truly. Eileen and I co-created The Money Mammals, a program that gets kids excited about money smarts and which began our family's foray into youth financial literacy. Our journey eventually led to The Art of Allowance book and this podcast to help parents like you raise money-empowered children. I often refer to Eileen as the original Money Mammal because she has set the standard for money-smart behavior that informs much of what I discuss with my podcast guests. In this very special 50th episode of our program, you'll want to listen closely to hear Eileen's no-nonsense approach to money, learn why she adopted smart money habits early and discover one money-smart mistake she thinks we made in raising our own kids (which you can avoid by starting early).

Just how do you navigate an allowance system that is both digital and physical? Kennedy Reynolds will show you the way! Kennedy is the Chief Content & Education Officer at Acorns, a saving and investing app. She spearheads the company’s education and impact initiatives, working to unite financial literacy and consumer decision-making and to make money tools mainstream for everyday Americans. Prior to Acorns, Kennedy led digital content strategy at Zeno Group and founded the agency's Story & Brand Practice. She graduated from Harvard University and went on to complete her Masters in Creative and Life Writing at Goldsmiths College, University of London. Kennedy is the mother of three young children and the author of Grow Your Oak, a children's book that empowers kids to invest in their financial futures.

How can parents incorporate family values into the money conversations they're having with their kids? Robin Taub offers several strategies during her second appearance on The Art of Allowance Podcast. A Chartered Professional Accountant (CPA, CA) by training, Robin began her career at KPMG, transitioned into real estate and then landed in the complex world of derivatives marketing at Citibank Canada. Today, she’s an author and a professional speaker. Robin lives in Toronto, where she and her husband have raised two (mostly) money-smart twenty-somethings. She is an avid cyclist, snowboarder, music lover and concert goer. I'm excited to welcome her back for a conversation about her new book, The Wisest Investment: Teaching Your Kids to Be Responsible, Independent and Money-Smart for Life.

Do you consider investing to be inherently complicated? Chris Browning just might change your mind with his "boring is better" approach. He is the host of the award-winning, short-form podcast Popcorn Finance and the call-in, money-advice show This Is Awkward. Chris was one of the first finance podcasters on the scene when he began producing content in 2017. His creation, Popcorn Finance, addresses financial topics in about the time it takes to make a bag of popcorn. Chris can be seen weekly on NBCLX’s Current as a personal finance expert contributor or heard on KFI AM 640 providing insights on the latest finance news. I first appeared on his show, and now he's returning the favor by joining me for a not-so-boring conversation.

What can we as parents do to empower our kids with money? Gayle Reaume offers several strategies, including encouraging entrepreneurship, promoting a "saving to invest" mentality and shifting financial decision-making power. A mom herself, Gayle founded Moolah U fifteen years ago to give kids a practiced understanding of financial responsibility. Moolah U has now served thousands of Austin, Texas families through after-school clubs, summer entrepreneur camps and now a family financial app. Says Gayle, “I’m inspired by how technology can help people at scale, and I’m using that to empower every child to enter the 'real world' with a practiced understanding of financial literacy." In 2019, Gayle was awarded the Austin U40 Mentor of the Year Award. She also has been featured multiple times in the national media, including in The Wall Street Journal and on NBC Nightly News and Bankrate.com.

What is the key to teaching money smarts in credit unions, families and schools? According to Courtney Moran, the answer is consistency. Courtney joined the Cornerstone Credit Union Foundation in 2004, becoming the executive director in 2009. Previously, she worked in the financial services industry in areas ranging from operations to marketing. In her role at Cornerstone, Courtney promotes financial education among credit unions, educators and partner organizations. She also oversees the Foundation's grants and scholarships. Both a Credit Union Development Educator (CUDE) and an International CUDE, Courtney is a Credit Union Financial Counselor through the Credit Union National Association's FiCEP program. She serves as a director on the National Credit Union Foundation board and is a member of the Advisory Council and Outreach committee for BizKid$. Courtney was also recognized as a Credit Union Rock Star by Credit Union Magazine in 2014.

What do a free lunch and a Roth IRA have in common? My latest guest (and clear contender for The "Metaphor of the Year" Award), Gene Natali, will enthusiastically educate you. Prior to serving as the CEO and CFA of Troutwood, a financial technology company, Gene spent 17 years working with large pension funds and institutional investors. He is an award-winning author who has key-noted investment and education conferences across the country and spoken in over 500 high school and college classrooms. Gene is a Chartered Financial Analyst (CFA) and holds a bachelor's degree in Economics from Allegheny College as well as an MBA with a concentration in finance from Carnegie Mellon University. He is also a board member of CFA Society Pittsburgh, a part-time lecturer at the University of Pittsburgh and an Executive in Residence at Penn State Behrend. Gene resides in Pittsburgh with his wife, four children and (not to be forgotten!) chocolate lab.

What are the keys to cultivating a culture of prosperity? Ellen Rogin has made it her life’s work to educate, counsel and guide people to grow their prosperity and to use it as a force for good in their lives and in the world. The co-author of the bestselling Picture Your Prosperity: Smart Money Moves to Turn Your Vision into Reality and a TEDx presenter, she has been quoted in such national publications as The New York Times, Money and The Huffington Post. As a consultant and a speaker around the globe, Ellen combines her deeply credentialed experience as a former financial advisor with her intuitive abilities to guide people to a clearer understanding of what they can do to enhance their relationships with money, identify their money strengths and chart an inspired path to reaching their financial and business goals.