Most kids under the age of 17 really don’t understand money or budgets, but it’s so important to start teaching them about this stuff early. So today I’ve got Benny Nachman, CEO of Jassby family finance app, on the show to share his expertise in finance, as well as his insight for helping kids understand money. We will be unpacking why parents often don’t talk to their kids about money and how you can help to educate your kids early so that they make wise decisions as they grow up.
It can get daunting when trying to get kids to save their money (for you and them), but Benny and I will cover how to teach children more about the rewards of saving so it makes sense to them. You will also learn how Benny’s app aims to connect parents, grandparents, and kids into one financial eco-system where they can learn to manage money wisely. Listen in to discover how financial literacy applies to kids and all kinds of things you can do right now to start setting your children up to understand money and how it works.
0:52 – Why talking about money with kids is so important.
2:45 – What the Jassby family finance app is.
9:50 – Why money is one of the top things you can teach kids about and the dangers of not addressing it.
14:10 – How to start talking about money with kids.
21:23 – Changing the paycheck-to-paycheck way of life through savings goals.
33:15 – How to get started and set up on Jassby.
- The right age to start talking about money with your kids.
- Using reward-thinking as a way to encourage children to save.
- Why people are often afraid of money talk.
- The downside of failing to teach kids about money.
- Examples of creative ways you can start teaching your kids about money.
- The value of small accomplishments that add up.
- “Most kids under the age of 17 really don’t understand money.”
- “There’s so many things going on that money gets overlooked, and all of a sudden, your kids are 18 and they’re like, ‘What do I do?’”
- “We put so much effort into raising kids right, educating them, and preparing them for college, but we never ever talk to them about what money is, how interest works, and why it’s not a good idea to only pay minimum payments on their credit card.”
3 Interesting Clips:
- 3:32 – How to teach savings in a way that’s not as daunting to a kid.
- 9:00 – The huge gap in how we educate our kids.
- 13:20 – The value of learning something when you’re young.
- Benny Nachman: LinkedIn
- Jassby App
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- Everything Always Podcast Website
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