financial literacy for kids

In this episode of Peak Performance Selling Podcast, host Jordan Benjamin engages in a riveting conversation with Jackie Hermes, a seasoned entrepreneur and mother, about unconventional financial strategies, fostering a mindset of abundance, and finding equilibrium between business leadership and parenthood. Jackie shares her journey of overcoming financial hurdles, achieving debt freedom, and nurturing her children's financial literacy through hands-on experiences. The dialogue delves into the power of neuroplasticity, self-care routines, and the pivotal role of self-love in fostering success both personally and professionally.

PEAK PERFORMANCE HIGHLIGHTS QUOTES

• "It's all possible, anything's possible, if you take the right approach and you have an open mind."
• "In order to show up for other people and be a good parent and a good coach, you have to show up for yourself first."
• "As you get older, you realize the importance of physical and mental health."

You can connect with Jackie Hermes through the link below.

LinkedIn: https://www.linkedin.com/in/thejackiehermes/

If you’re listening to the Peak Performance Selling Podcast, please subscribe, share, and send us your feedback.

Jordan Benjamin: https://www.linkedin.com/in/jordanbenjamin/
MyCoreOs.com: http://mycoreos.com/
Podcast: https://www.mycoreos.com/podcast
Twitter: https://twitter.com/jbenj09

#047.  Today’s guest is John Crane. We discuss his journey into the financial services space.  What inspired him to write this book, and how cashflow management is the #1 determinant of long term financial success or failure.  John outlines why traditional budgets fail and the simplicity behind the concept of The One-Number budget.  We dive into how we can use the one-number budget concept to help their kids learn to put aside money for their future self

We discuss the the common mindset of families who are successful in ensuring their children are developing the right financial skills around money, the college conversation you need to prepare for in advance and one of the greatest gifts we can give our kids.  

John outlines what financial vampires are and how to avoid them, how consumer debt gives us the illusion of choice.  And we close with what lifetime cashflow management is and why it is important for people to think about this.

Show notes and more at:

https://moneydadpodcast.com/session047

Welcome to another episode of the Finance with Kids podcast! In this episode, hosts Steve and Ava Coughran delve into one of the most important economic concepts: inflation. Steve and Ava explain what inflation is and why it's essential to understand it. They provide real-world examples of how inflation affects everyday items like groceries, gas, and toys. They also discuss how inflation impacts savings and investments, and provide practical tips for kids to protect their money from inflation. Throughout the episode, Steve and Ava use engaging and relatable examples to break down complex economic terms such as "purchasing power" and "inflation rate." They make learning about money fun and accessible for young audiences. Inflation is a critical concept in personal finance, and Steve and Ava aim to teach kids about it in a way that is easy to understand. By the end of the episode, listeners will have a solid understanding of what inflation is, how it works, and why it's important. Tune in to this episode of the Finance with Kids podcast to learn more about inflation and how it impacts our daily lives.

Kids, if you want to be on the show, ask your adult to help you record your name, where you live, and question on a voice recording app, and then email it to hello@financewithkids.com. For example "Hi, my name is Leah, I'm 6 years old, I live in San Diego, California, and my question is--what is an asset?"

Adults, do you want gain free access to tools, videos, and other great resources to build better financial skills and achieve higher levels of success? If so, join one of our free communities today at: https://www.byfiq.com/community

Also, check out these three courses that will help sharpen your financial and investing acumen:
Boosting Your Financial IQ
Understanding Financial Statements
Investing in Stocks and Financial Assets

When you're ready to start living an abundant financial life, take a look at one of our accelerator programs.

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This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in Coltivar or its Affiliates. (An offering to invest in a Coltivar fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by Coltivar, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results.

In this week's episode of Finance with Kids, host Steve is joined by Ava to talk about the basics of revenue, expenses, and profits. Steve and Ava break down these important financial terms in a way that's easy for kids to understand. They start by discussing what revenue is and how it's generated, using examples like lemonade stands and selling items online. Then, they move on to talk about expenses, which are the costs associated with running a business or making a product. Ava shares some common business expenses, such as ingredients for making lemonade like lemon, sugar, and water. Finally, Steve and Ava talk about profits, which are what's left over after you subtract expenses from revenue. They explain that profits are important because they allow businesses to grow and reinvest in themselves. They also discuss how individuals can use profits to achieve their personal financial goals. Throughout the episode, Steve and Ava offer tips and tricks for managing revenue, expenses, and profits, including the importance of budgeting and tracking your finances. Join us for this fun and informative episode of Finance with Kids!

Kids, if you want to be on the show, ask your adult to help you record your name, where you live, and question on a voice recording app, and then email it to hello@financewithkids.com. For example "Hi, my name is Leah, I'm 6 years old, I live in San Diego, California, and my question is--what is an asset?"

Adults, do you want gain free access to tools, videos, and other great resources to build better financial skills and achieve higher levels of success? If so, join one of our free communities today at: https://www.byfiq.com/community

Also, check out these three courses that will help sharpen your financial and investing acumen:
Boosting Your Financial IQ
Understanding Financial Statements
Investing in Stocks and Financial Assets

When you're ready to start living an abundant financial life, take a look at one of our accelerator programs.

______________________________________

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in Coltivar or its Affiliates. (An offering to invest in a Coltivar fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by Coltivar, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results.

Financial literacy is the ability to understand and effectively use skills such as budgeting, saving, taxation, and investing. When you are financially literate you have the foundation of a relationship with money. Achieving financial literacy is crucial in today’s world as we navigate through everyday facets of life, such as student loans, mortgages, credit cards, investments and at some point - retirement. But not all of us can afford the time to get a degree in finance. The old joke of how you eat an elephant - just one bite of a time comes to mind when Licensed Insolvency Trustee, Derek Chase breaks financial literacy down for us. 

Derek discusses:

• A starting point to change the family lineage financial illiteracy
• Importance of finding a mentor
• Where to find resources with good Canadian content
• Strategies to make time to learn
• The payoff of families and partners pulling together and getting onboard

If you are struggling with your finances, Licensed Insolvency Trustees can help you get back on track. From budgeting to Bankruptcy, they are considered one of the best resources to consult, licensed and regulated by the federal government of Canada. 

About Derek Chase

Derek Chase is a Licensed Insolvency Trustee in British Columbia. He has been helping individuals and corporations restructure their debt since 1997. His areas of practice include personal and corporate insolvency including Consumer Proposals and Bankruptcy. The best part of his work is to be able to witness lives change for the better when the heavy burden of unmanageable debt is lifted. 

Additional Resources 

• Derek L Chase & Associates Ltd. Licensed Insolvency Trustee
• Financial Literacy in Canada
• How to Break the Debt Cycle

Teaching kids about the value of money is an important life lesson that can help them develop good financial habits in the long run. It's never too early to start teaching your kids about money and its value. In this episode, Melissa Fradenburg, AIF, ® shares three tips to help you get started. 

•  By helping teens understand the difference needs and wants, they can learn to prioritize their spending and make informed financial decisions. 
• Setting boundaries with spending but allowing your child to make decisions around money while the stakes are low.  Earning money, whether it's a job or an allowance is so important to developing good money making decisions in adulthood.
• If you want your kids to be financially responsible, then you need to be financially responsible too. Talk to your kids about how you manage your money, and let them see you make smart financial decisions. For example, if you are saving up for a big purchase, explain to your kids how you are budgeting your money to reach your goal.

Resources:

• Learn more about Pearl Planning.  
• Connect with Melissa Fradenburg, AIF, ®
• Listen to Episode 124: Teaching Children Financial Responsibility Through Chores. 
• Blog post from Pearl Planning, The Three Money Conversations to Have with Your Kids.
• Read article on Mistakes Parents Make When Teaching Kids About Money, by Warren Buffett.
• Listen to podcast Episode 87: How to Talk to Your Kids About Money with Jackie Fradenburg.
• Read the book The Gift of Failure, by Jessica Lahey.

Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax matters. You should discuss any tax matters with the appropriate professional.

Data Sources: Capital Group, RIMES, Standard & Poor's.

Money management isn’t always easy but teaching it to our kids can be just as difficult. But if they grow up without a proper understanding of their finances it can create a gap in their life skills. Although some schools do teach the basics of financial literacy, we can still have an impact on our kids' understanding of money. Talking about finances and finding teachable moments can give them the leg up that may make all the difference in their lives. 

Licensed Insolvency Trustee, Derek Chase, shares his thoughts about how to better prepare our kids for their financial future. He covers the following topics and more:

• When is the right time to start
• The practically of handling their own money
• Teaching the different acronyms and explaining their functions
• Advantages and eventual outcomes of starting to save early
• The cost of holding debt and not filing taxes
• Resources such as The Wealthy Barber

Licensed Insolvency Trustees are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada. With their knowledge and expertise you can be assured they will give you the best unbiased advice. 

About Derek Chase

Derek Chase is a Licensed Insolvency Trustee in British Columbia. He has been helping individuals and corporations restructure their debt since 1997. His areas of practice include personal and corporate insolvency including Consumer Proposals and Bankruptcy. The best part of his work is to be able to witness lives change for the better when the heavy burden of unmanageable debt is lifted. 

Additional Resources 

• Derek L Chase & Associates Ltd. Licensed Insolvency Trustee
• Young Adults and Credit Card Debt
• Help With Student Loan Debt

#013.  Today’s guest is Dani Mendonsa.  Dani and I talk about some of early childhood lessons Dani’s parents taught her about money as well as how a sports injury caused Dani to pivot and get involved in the teaching profession.  Dani’s done some outstanding work helping to co-create the ChooseFI financial literacy curriculum from the ground up where she served as the co-curriculum lead for the K-Gr5 writing team.  We talk about why it was critical to integrate elements of financial independence (FI) into the ChooseFI financial literacy curriculum.  We also talk about the Passport to FI, a fun activity for kids to collect stamps and actively learn how to get on the path to FI.  We also dive into the themes around the series of books she recently authored for 7-10 yr old kids to bring money concepts to life including meal preparation, budgeting, entrepreneurship, buying new vs used, and vacations to name a few.  And we cover why it is important to have kids involved in these processes and decisions and how it develops ownership and makes it more memorable.

Show notes and more at:

https://moneydadpodcast.com/session013

"The piggy bank on its own… the tool itself is not enough."  - Clifton Corbin

You might’ve read the title of this episode and thought, ‘well, that sounds contradictory…’, but Clifton Corbin will tell you it’s anything but. Since we start forming habits by age 7, it’s even more important that we’re teaching our young one’s the most effective ways to save — not to mention ourselves.

Clifton is author of the new book Your Kids, Their Money: A Parent's Guide to Financially Literate Children. He holds an MBA and was a financial and business analyst before stepping up to make financial literacy approachable for kids and their parents.

In this episode, Clifton and host Anastasia Barbuzzi discuss why he despises piggy banks (and why you should demolish yours), how to teach financial lessons to your kids time-efficiently, and the importance of storytelling when it comes to teaching personal finance.

Even if you don’t have kids, Your Kids, Their Money is a great, jargon-free guide to becoming financially literate. As someone who was once stuck in a negative financial position, Clifton’s main goal is to make financial concepts “easy to consume and convey” for everybody.

To learn more about Clifton, tap or click here. 

To grab a copy of Clifton's book, tap or click here.

To follow along with Clifton on social media, check out his Twitter and Instagram. 

To learn more about $HMONEY, visit shmoney.club and join us on…

Instagram: @shmoneyradio / @shmoneyhonies

Facebook: https://www.facebook.com/shmoneyradio

Twitter: @shmoneyradio

Sound credits: Levels by Yung Kartz ($HMONEY theme song - intro/outro music)

Edited and produced by Anastasia Barbuzzi, founder and creative director of $HMONEY ($HMONEY Radio).

To get acquainted with your host, tap or click HERE.

To subscribe to The #SundayScroll ☕, Anastasia’s weekly newsletter, tap or click HERE.

To learn more about $HMONEY, visit shmoney.club and join us on...

Instagram: @shmoneyradio / @shmoneyhonies

Facebook: https://www.facebook.com/shmoneyradio

Sound credits: Levels by Yung Kartz ($HMONEY theme song - intro/outro music)

Edited and produced by Anastasia Barbuzzi, founder and creative director of $HMONEY ($HMONEY Radio).

Money isn't unlimited and we need to make it stretch as far as we can.  Getting good value for our money for things we buy, is important and sometimes it can be as simple as shopping at a different store or even just by looking at other items on the same shelf. 

In Episode 5, kids will hear about:

1. Different examples of getting good value for money including a) how something can cost less for the exact same thing in a different store and b) how you can get more of something for the same price.
2. How convenience and quality play a role in how we spend our money

Click here for Episode 5's  suggested follow up activities.

If you find value in this podcast and would like to support Kids Money & More, you can contribute here!  https://ko-fi.com/kidsmoneyandmore

Making decisions can be a tricky process for us and our kids.  It’s important to understand the difference between needs and wants, so that we spend smart and make good decisions. 

In Episode 4, kids will hear about: 

1. Needs - things we can’t live without. 
2. Wants - things we would like to have, but we don’t need them to stay alive. 
3. We can’t have everything we want, so we have to make decisions everyday.  Some are easy and some are difficult.
4. Spending smart.  Thinking carefully about our options and making good decisions when thinking about needs and wants. 

Click here for Episode 4's suggested follow up activities.

If you find value in this podcast and would like to support Kids Money & More, you can contribute here!  https://ko-fi.com/kidsmoneyandmore