Episode 79: Teaching Your Kids About Money with John Lanza

Episode 79: Teaching Your Kids About Money with John Lanza

Work Your Wealth
Work Your Wealth
Episode 79: Teaching Your Kids About Money with John Lanza
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This week I sat down with author and Chief Mammal, John Lanza to discuss how to teach your kids about money.

John is the Chief Mammal of The Money Mammals and author of the new book for parents, The Art of Allowance: A Short, Practical Guide to Raising Money-Smart, Money-Empowered Kids. A pioneer in youth money-smarts, John created the original Money Mammals DVD and has written three children’s picture books to help kids learn to “Share & Save & Spend Smart.” He is recognized nationally as a youth financial literacy expert and the Money Mammals have been featured in The New York Times, The Wall Street Journal and The LA Times.

HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:

  • How John became an expert in youth financial literacy
  • Some of the building blocks to teaching kids about money
  • The three core money smart skills for kids to learn
  • The importance of establishing a financial literacy foundation
  • Teaching your children the Three Jar method
  • The real purpose behind an allowance
  • Why chores and allowance shouldn’t always be linked
  • A recommended amount to give for allowance
  • The best age to start with an allowance for your child
  • How to approach the share jar with your child and at what age
  • Some common mistakes parents make when teaching kids about money
  • When to let your kids “borrow” money from you
  • The right circumstances to give your kids a loan
  • How to talk to your kids about investments (even if you’re not an investment guru)

LINKS WE MENTIONED ON THE SHOW:

GET SOCIAL WITH JOHN AND LET HIM KNOW YOU HEARD ABOUT HIM HERE

ENJOY THE SHOW?

Episode 08: Ask Mary Beth – How Do I Get Started With Investing and Retirement Savings or College Savings: Which Comes First?

Episode 08: Ask Mary Beth – How Do I Get Started With Investing and Retirement Savings or College Savings: Which Comes First?

Work Your Wealth
Work Your Wealth
Episode 08: Ask Mary Beth – How Do I Get Started With Investing and Retirement Savings or College Savings: Which Comes First?
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HOW DO I GET STARTED WITH INVESTING?

RETIREMENT SAVINGS OR COLLEGE SAVINGS: WHICH COMES FIRST?

One of the fun parts of being a financial planner is getting to field and answer questions from clients and readers all around the country. In these Work Your Wealth episodes I’ll be taking time to address and answer questions I’ve come across from readers and clients throughout my career. Today I’m answering the above questions.

WHAT YOU’LL LEARN FROM THIS EPISODE:

  • The first thing you need to determine before you even dive into investing.
  • Why a diverse portfolio matters.
  • What an index does for you.
  • What a mutual fund or exchange-traded fund can do for you.
  • Where to start in the retirement vs. college planning debate.
  • What happens when you plan for college without planning for retirement.
  • Why “do what you can” is better than “do nothing”.

LINKS MENTIONED ON THE SHOW:

LET’S CONNECT!

ENJOY THE SHOW?