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Kids & Money Episode 08

Hosted by: Chad Jones

January, 2022

The topic in this episode is teaching your kids to understand debt. Most adults struggle with this topic, but kids will manage their finances better if you teach them about debt.

In this episode we cover:

  • Robin & John get quizzed on past lessons (2:21)
  • “Chain of debt are too light to be felt until they are too heavy to be broken” – Warren Buffett (7:10)
  • Debt is a promise to pay (9:10)
  • How does debt happen (11:24)
  • There is a fee that comes with debt (20:40)
  • Some debt makes sense (27:24)
  • Chad’s debt story involving student and cars loans as well as credit card debt (30:24)
  • There is no better feeling than being debt-free and that is the goal of this podcast teaching your kids to understand debt (33:19)
  • How to discuss mortgage debt with your kids (34:43)

Links From the Show:

Allen & Company
Kid & Money Blog
Warren Buffett
Total Money Management by Dave Ramsey

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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