In this episode, I am joined by Will Rainey, the founder of the financial education platform bluetreesavings.com and the author of the children’s book, Grandpa’s Fortune Fables.
In this episode, we are talking all about kids and money. I’m often asked questions such as “should I give my kids pocket money?”, “How can I pass on a good relationship with money to my kids?”, and “How do I teach my kids about money?”
This is a really important subject, so Will and I get stuck into some of the best lessons to teach your kids about money.
About Will’s Book: Grandpa’s Fortune Fables
When Grandpa Jack was a young man, he went on an adventure to a faraway island in search of gold. Whilst he was on the island he discovered ‘The Three Rules of Wealth’. These rules helped him to become a very wealthy man.
As Gail shares her Grandpa’s adventures, your kids will learn:
- The difference between being ‘Rich’ and being ‘Wealthy’
- How to earn money
- The importance of saving their money
- How to grow their money (investing)
- That patience is the superpower of the wealthy
- Why they should avoid gambling, scams and (bad) debt
Your kids will also have to try and solve Grandpa’s Mystery Code as they answer short questions to recap on what they have learnt throughout the book.
How to Have Conversations with Kids About Money
In this episode:
- What is the most important lesson to teach kids about money?
- Do the lessons we teach vary based on age?
- The 3 rules of wealth: save then spend/plant the seeds you keep/be patient.
- Will’s view on pocket money.
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