Kids & Money Episode 02 | Bookynotes Blog blog | Bookynotes

Kids & Money Episode 02


Hosted by: Chad Jones

November, 2021

In this episode, we talk about the three core concepts in every family financial dynamic, opportunity cost, understanding debt, and budgeting.

In this episode we cover:

  • What are the three concepts at the core of every family financial dynamic (2:21)
  • The definition of opportunity cost (5:10)
  • Money lessons will impact kids emotionally and relationally in life (11:19)
  • If you have the proper definition of rich, you will have breathing room in your budget (15:01)
  • The psychology of naming every single dollar to help save (16:16)
  • Three artistic truths that apply to teaching (19:32)
  • What are income and expense to a child (22:10)
  • Have a fun factor when teaching your kids about money (24:57)
  • Discuss how spending money makes you feel (26:00)
  • Use a business analogy while out spending money to help teach the income/expense definitions (30:00)

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