051 | Teaching Your Kids About Money (and doing it early!)

Save Like Dave Podcast

Dave is going to dig deep on the subject of kids and money so that if you have kids or have a connection to kids and want to get them off on the right foot, financially speaking, come along for a listen.

Now I know everyone's story is different.

Sadly, financially speaking, many kids these days are not being taught anything about personal finance, and guess what, when they get older they tend to continue to make the same poor financial mistakes they did as kids.

A poll by ING Direct found that 87% of teens know little to nothing about how to manage money.

The majority that do learn something, learn it from their parents, but around 12% said they’ve not had any parental guidance handling their finances.

This week's podcast is an encouragement to any parent or teacher out there to take the time to teach your kids the basics of personal finance so that they will win with money and in life!

I can almost guarantee that your kids will enjoy the subject and it will help shape their financial destiny for a lifetime.

The longer you wait to teach your children to be good stewards of their financial resources the harder it is to instill good habits.

Questions for Review:

• Do you feel confident enough to teach kids on the basics of personal finance?
• If the answer to the above question is no, what can you do to increase your knowledge and confidence on the subject of money?
• Are there kids in your life (in any capacity) that you can impact in a positive way by teaching them about personal finance?

Verse From the Episode: "Start children off on the way they should go, and even when they are old they will not turn from it." -Proverbs 22:6