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Kids & Money E11

Hosted by: Chad Jones

April, 2022

Communication is vital for personal finances, especially a joint personal budget, and in this episode, we wrap up the lessons with tips on how to teach your kids about sharing a budget.

In this episode we cover:

  • There will be growing pains implementing a joint personal budget for the first time (3:36)
  • What does a shared budget look like (4:48)
  • Never lose sight of the emotional and relational part of finances (10:54)
  • The personal budget lesson did NOT go so smoothly with Chad’s children (17:17)
  • The best lesson with money is when you EARN the money (18:53)
  • Kids learn differently regarding a personal budget depending on which stage they are in – elementary, middle or high school (24:12)
  • Wrapping up the series with a recap of the five lessons (30:00)
  • Robin’s favorite lesson (31:08)
  • Chad’s story of buying a car and the questions he asked himself during the process (33:00)
  • Learning how to manage your money can be the most important force multiplier in your life (38:29)

Links From the Show:

Allen & Company
Kid & Money Blog
Behavioral Economics
Opportunity Costs

Connect with:

Chad Jones – CFP® Financial Advisor at Allen & Company
Allen & Company – Chad Jones
LinkedIn – Chad Jones

 

The opinions voiced in this program are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult an appropriate qualified professional prior to making a decision.

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