Kids & Money Episode 02
Hosted by: Chad JonesNovember, 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)
Sample Block Quote
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