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Stop doing things for your kids, just do things with them.
Mentioned in This Episode:
gravystack.com/smart
gravystack.com/igniter
smartmoneyparenting.com
smartmoneyparenting.com/followus
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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Does your kid think theyâre better than everyone else? Scott Donnell and Chad Willardson discuss how thinking your kids deserve special treatment damages their future. They also reveal a better way to motivate your kids and make them feel proud of their accomplishments.
Chad and Scott agree that the best parents tell their kids, âyouâre special to me.â Not, âyou deserve special treatment.â According to Chad, telling your kids they deserve special treatment makes them walk around with a chip on their shoulder. Scottâs definition of humility - a clear self-estimation of who you are in the world. For Scott, true self-esteem is built by letting your kids know that they are special to you. Not telling them that they deserve special treatment. Although youâd want to love your kids as much as possible, you must also give them an accurate view of their place in the world. Chad talks about the unfortunate reality of modern parenting. Telling your kids that theyâre superior doesnât build self-esteem; it breeds narcissism. Scott and Chad agree that if you teach your kids to believe they are superior to everyone else and they deserve special treatment, youâre setting them up for failure later in life. Chadâs golden rule of parenting - praise and reward effort, not outcomes. Your kids cannot control the outcome. But they can control their effort and their attitude. Scott goes over the long-term consequences of parents doing everything for their kids. For Chad, doing everything for a child might initially sound harmless, but parents must also consider the long-term consequences of raising their kids in a bubble. Chad and Scott discuss the foundational elements of a smart money parent. Scott covers ways parents can teach their kids how to create value in the real world. Scott talks about the confidence and capability matrix - and why itâs so important for kids to start building concrete capabilities. Chad and Scott agree that itâs cheaper and safer for your kids to fail at home than in the real world. Scott shares a crazy hiring story where a parent accompanied their child to a job interview. According to Chad, failure in kids is okay - kids need to experience and overcome failure if they are to succeed in the real world. What to do the next time you find yourself trying to get special treatment for your kids. Scott and Chad discuss the detrimental consequences of entitled parents trying to get their kids special treatment.Mentioned in This Episode:
gravystack.com/smart
gravystack.com/igniter
smartmoneyparenting.com
smartmoneyparenting.com/followus
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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How do you save for your children's education? Scott Donnell and Chad Willardson welcome the âaccidental financial guy,â Robert Farrington from The College Investor.com.
They discuss when itâs a good time to start teaching your children about money, the Y.E.S. acronym, why 529 plans are worth looking into, and the different approaches you could have, in regards to saving for college, depending on your childrenâs age.
Robert Farrington, who labels himself an âaccidental financial guy,â starts the conversation by sharing his story and how we got to where he is today with The College Investor. Robert focuses on introducing children to money because he believes that "the earlier you start to build wealth, the less money it takesâ â plus, you have time working in your favor. Starting as early as you can, obviously with age-appropriate money education for your child, is something Robert recommends to all parents. Itâs about understanding the why, and helping children understand it, says Robert. Moreover, you should also teach children about earning money from a young age. There are different ways children can earn money: chores, household projects, saving money gifts (e.g. from birthdays), but also things outside the house, like small works or recycling, for instance. Even if your children ask about something you do know about, itâs very easy to get yourself informed today through podcasts, blogs, and YouTube channels. Robert always likes to approach paying for college using the Y.E.S. acronym: you, Educational savings, and then general savings. Robertâs suggestion is to use the oxygen mask analogy and take care of yourself first, also because there are several ways to navigate education â grants, scholarships, financial aids, different school choices, etc. Chad points out that many parents over-invest in putting money away for college and then under-invest in their own retirement. This is a mistake because you canât get scholarships, grants, or student loans for retirement⊠For Robert, getting a 529 plan or leverage taxable investing are the two bread and butter ways to approach saving for education. Beware: there are plans that are marketed nationally, but they're all housed by states. Typically, a plan is based on the rules of the state of the account owner, usually a parent. Many people are afraid of the taxes and the 10% penalty youâd have to pay if you pulled money out of the account for non-qualifying expenses. Robert brings up an idea of how a family could use a 529 plan to create an âeducation trustâ of sorts. Remember: a parent could be the account owner of a 529 plan. This is important to keep in mind because while 529 plans do impact your financial aid (though they only count towards 5.64% on the FAFSA), grandparent-owned 529 plans donât impact your financial aid one bit. Robert, Chad, and Scott talk about what happens if your child receives a scholarship, as well as the life insurance side of things, and when you should tell your children that youâre saving for their education. People who struggle the most with student loans are the ones that never graduated college. Robert shares his advice for both parents with very young children and for those with older ones â including the approach he has with his own kids.Mentioned in This Episode:
gravystack.com/smart
gravystack.com/igniter
smartmoneyparenting.com
smartmoneyparenting.com/followus
TheCollegeInvestor.com
The College Investor Audio Show
The College Investor on YouTube - @thecollegeinvestor
The College Investor on TikTok - @thecollegeinvestor
Previous episode - TRIGGER WARNING: Shocking Stats About College
Backer.com
Upromise.com
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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How do you prepare your kids for college? And what about you â how do you prepare yourself? In today's episode, hosts Scott Donnell and Chad Willardson discuss what parents should think about and do when it comes to their children potentially going to college.
They share some stats related to education quality and student loan debts, the âfinancial handcuffsâ trap, and what a good gap year actually looks like.
Scott kicks off the conversation mentioning a few facts about education, like the fact that education rates are higher than ever. Even though an impressive amount of families really value education, Scott doesnât believe that everyone should get thousands of dollars in student loans to get a degree. In 2021, the total amount of student debt by 44 million borrowers exceeded $1.7 trillion. However, only about 55% of students pursuing a bachelorâs degree actually complete it. Chad raises the question of whether itâs worth paying thousands of dollars while, today, education is really happening online⊠According to a 2021 report of best colleges, 76% of students believe that online learning is actually better and more productive than, or at least equal to, on-campus learning. Scott says it clearly: college is not the only answer to ensure a childâs success. Scott points out some of the advantages of going to college and warns about what parents should be on the lookout for. Chad and Scott mention the fact that many companies donât look at degrees but focus on peopleâs attitudes when hiring them. Level 7 of the GravyStack app addresses the concept of the ROI of college. When approached the wrong way, student loans can be a âfinancial handcuffâ young people will need to deal with for the rest of their life. Scott and Chad share their college prep advice, and talk about what a good gap year actually is. Chad shares the story of a couple that had a different way to approach their childrenâs college journey.Mentioned in This Episode:
gravystack.com/smart
gravystack.com/igniter
smartmoneyparenting.com
smartmoneyparenting.com/followus
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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How do you explain what inflation is to your kids? Scott Donnell and Chad Willardson talk about inflation, what it is, why it matters, and how to explain it to your kids.
Chad starts the conversation by revealing the leading driver of inflation in the US. According to Chad, if your money isnât growing, itâs losing a lot of its purchasing power and becoming less valuable. If youâre spending hundreds of thousands of dollars on a college education, ensure your kids learn valuable and practical things so they donât graduate with a ton of debt and no skills. Chad talks about the difference between inflation and deflation. Scott explains how inflation and rising prices affect low-income households. For Scott, inflation is like a monster that can slowly eat away at what you have. Chad and Scott agree that learning to create more value is the best hedge against inflation. The statistics show that if you have a credit card, you are psychologically going to spend 30% more money. Chad and Scott talk about the benefits of having your money work for you. Chad goes through ways parents can make their kids understand why prices always go up in an economy. Scott reveals why you need to be aware of the things that can quickly dry up your bank account. Scott and Chad agree that saving and investing are critical for protecting yourself against inflation - always make more than you spend so that you can have something to save and invest. Scott reveals the two areas that prove inflation exists - rising health and medical costs.Mentioned in This Episode:
gravystack.com/smart
gravystack.com/igniter
smartmoneyparenting.com
smartmoneyparenting.com/followus
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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Do your kids understand how advertising works? In this episode, Scott Donnell and Chad Willardson talk about the impact of advertising on kids. They discuss how learning to decode the message behind an ad is an essential skill for kids and adults alike.
Scott and Chad start the conversation by describing how advertising works and the tricks marketers use to get peopleâs attention. You need to understand that every business is trying to sell you something, whether itâs a good or bad business. Chad explains how the average person sees hundreds of thousands of advertisements daily - all used to influence, persuade, and get you to think a certain way and buy a certain thing. What is the best defense against sneaky advertising? For Scott, you must teach your kids to decode the message behind the ad. Did you know that your attention is being bought and sold? We live in a world where to influence, communicate, or sell anything to potential buyers, you must capture their attention. Chad and Scott highlight how attention is now the most valuable resource in the world. Scott goes through ways to help your kid develop a strong sense of identity. Scott and Chad agree that ads are everywhere. Everywhere you turn, youâre likely to come across a print, digital, or recorded ad. Scott explains subliminal advertising and how marketers use intentional messaging, sounds, or visuals to get you to buy something. Chad shares the questions you can ask your kids to help them understand how advertising works. Chad explains ways to teach kids to resist advertising and become smart consumers. Scott reveals the techniques marketers use to target deep childhood wounds and get you to buy their products. How to make your kids understand the difference between wants and needs. Chad and Scott discuss why a 30-second Super Bowl ad costs hundreds of millions of dollars. Advertising is everywhere; your kids cannot escape it. Scott goes through lessons parents can use to teach their kids to be advertising-savvy consumers. Chad explains the link between advertising, consumerism, and materialism.Mentioned in This Episode:
gravystack.com/smart
gravystack.com/igniter
smartmoneyparenting.com
smartmoneyparenting.com/followus
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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Why is integrity important? What do your kids do when no oneâs watching? In this episode, Scott Donnell and Chad Willardson discuss why integrity is an important trait in kids. They cover ways parents can teach their kids character and ensure they take responsibility for their actions, especially when nobody's watching.
Chad starts the conversation by sharing a sad situation where two young adults caused an accident, looked at the damage, laughed, and walked away. For Chad, the situation shows that kids nowadays lack integrity. He explains that integrity teaches children to take responsibility for their actions, even when nobodyâs watching. Scott highlights how integrity can be tricky to teach kids because itâs not as clear-cut as explaining honesty or kindness. When you make mistakes, you have to take accountability. And it doesnât matter if you think no oneâs watching. Your reputation is the only asset you cannot afford to lose because you cannot get it back. Chad explains the role of integrity in developing self-confidence - and how parents can teach it to their kids by modeling honesty at home. Scott talks about the benefits of building and protecting your reputation as a kid. According to Chad, if you donât have integrity, nothing else matters. Chad explains that you want your kids to be smart with money, be successful, and do great things in life. But if theyâre not doing it with integrity, nothing else matters. Scott reveals why parents should teach their kids to do the right thing when no oneâs watching. Because the moment they turn 18, and they leave the nest, youâre not watching them anymore. Teach your kids that becoming more trustworthy is the secret to getting more freedom. You get rewarded in public for the great decisions you make in private. Scott and Chad agree that the greatness of a man is not in how much wealth he acquires but in his integrity and ability to affect those around him positively. If youâre unsure about your integrity, Scott believes now is a good time to assess all aspects of your life and start setting a good example for your kids.Mentioned in This Episode:
gravystack.com/smart
gravystack.com/igniter
smartmoneyparenting.com
smartmoneyparenting.com/followus
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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How often do you high five your kids? In today's episode, hosts Scott Donnell and Chad Willardson discuss the benefits of recognizing and celebrating your children's accomplishments, big or small. They also cover why you should praise their efforts and encourage them to pursue their interests and passions.
Chad starts the conversation by describing how much morale you can boost in your home by having a positive attitude. The best way to raise a confident kid is to celebrate them. Chad explains how celebrating the little things can create memories that stick with your kids for life. Chad goes through daily moments you can celebrate with your kids at home. Scott and Chad agree that you can change how a kid views something by celebrating it. Scott highlights that celebrating your kids is not about giving them false confidence - because false confidence means a lack of ability. Celebrating is an instant mood changer - think of how a kid instantly lights up when you give them a high five. Chad talks about the benefits of high-fiving your kids on all the little things that they do. According to Chad, parents should celebrate effort, not just celebrate results. It's not always about winning and losing or getting the award. For Scott, celebrating your kids bolsters their self-esteem, their mental health and their ability to take on the world. You want that in your kids. Remember that there are a million little opportunities every day you can use to celebrate your kids. Scott reveals the best marriage advice he ever got - Praise the good in your spouse as much as humanly possible and then leave the rest to God. According to Scott, finding ways to celebrate the little moments every day is not just going to lift your kids up, it's going to lift you up, too.Mentioned in This Episode:
gravystack.com/smart
gravystack.com/igniter
smartmoneyparenting.com
smartmoneyparenting.com/followus
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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Are you a connected family? What is the importance of strong family ties? In today's episode, hosts Scott Donnell and Chad Willardson discuss ways parents can give their kids roots and wings. Roots - give them a sense of belonging and knowing where home is. Wings - give them the freedom to explore and conquer the world.
You want them to stay rooted in your family culture, but you also want them to fly off and conquer the world. Are families being destroyed? In 1960, 72% of families had a nuclear family. Today, it's just 45%, and if you're an urban inner-city family, it's just 1%. Chad explains how families are being destroyed with modern leaders pushing for individualism and selfishness. For Scott, your goal as a parent is to have a family that is connected as much as possible. How do you kill a family culture? Scott explains how taking away the chief storyteller kills the culture and connectedness of a family. Scott talks about the value of raising independent kids with the goal of cultivating interdependence and remaining connected to each other. Every family has some form of crazy. But what you can do is take the good, leave the bad and make it better for your kids and the next generation. According to Scott, kids will stay a part of the family if they see you're still connected to your family. If you grew up in a dysfunctional home, as many people have, Chad believes you can be the one that breaks that chain of dysfunction. According to Scott, strong family values are the best way to preserve your family culture. Make them fun, memorable, and engaging. Scott goes through the practical things parents can do to unite the nuclear family when the extended one is in chaos. Make decisions for your great-grandchildren. Scott explains how the decisions you make today with your kids will impact future generations. Scott reveals the shocking driver behind public schools in 1917 - and the systemic plan to remove parents from their children's lives.Mentioned in This Episode:
gravystack.com/smart
gravystack.com/igniter
smartmoneyparenting.com
smartmoneyparenting.com/followus
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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What is the difference between wealthy and rich? In today's episode, hosts Scott Donnell and Chad Willardson discuss the differences between being wealthy and being rich, as well as how kids can learn to differentiate between the two.
Scott starts the discussion by describing how true wealth differs from being rich. Chad doesn't particularly like the term "rich" because owning a bunch of status symbols to keep up with the Joneses is not an actual benchmark of success. For Chad, a massive house and an expensive car do not tell you anything about a person's financial situation. Chad and Scott agree that rich is loud and wealth is quiet, most of the time. They further explain that true wealth is built brick by brick over time and living like nobody else today so you can live like no one else tomorrow. According to Scott, these super-expensive status symbols come with a lot of baggage if you don't have wealth. Chad believes trying to be rich is an anxious lifestyle, but living wealthy is real freedom. So kids should aim for wealth instead of riches. You make a living by what you get, but you make a life by what you give. Teach your kids that there's a very big difference between being rich and being wealthy - but it's almost impossible to tell from the outside. According to Chad, there's nothing wrong with owning a big house or a nice car - as long as you can afford it and live within your means. Wealth is wealth. You either have it or you don't. Chad and Scott discuss how the so-called financial gurus mislead people with get-rich-quick schemes that rarely work in the real world. If you own a bunch of nice stuff, Scott believes you should attempt to consistently communicate to your kids about how fortunate you are to be financially stable. For Scott, being wealthy is when you make wise money decisions, have your finances in order, and own assets that can withstand the test of time.Mentioned in This Episode:
gravystack.com/smart
gravystack.com/igniter
smartmoneyparenting.com
smartmoneyparenting.com/followus
The Billionaire Who Wasn't: How Chuck Feeney Secretly Made and Gave Away a Fortune by Conor O'Clery
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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Can kids learn about sales without being sleazy? In today's episode, hosts Scott Donnell and Chad Willardson discuss why parents should stop telling their kids that selling is sleazy. They also reveal the sales skills every kid must learn and why sales is not about tricking people into giving you money.
Scott starts the conversation by describing his definition of sales and why most people dislike the art of selling. Sales is not sleazy because everybody sells. According to Chad, if selling makes you feel sleazy, you're doing it wrong. Scott reveals why sales is not about tricking people into giving your money. Instead, it's about understanding their DOS - Dangers, Opportunities, and Strengths. Chad talks about pushy salespeople and how they give sales a bad rep. Chad and Scott break down the right approach to sales and why it's never a good idea to sell something you don't believe in. You kids will be selling and persuading people their whole lives. The least you can do is tell them that selling is not sleazy. For Scott, if you're trying to sell something that doesn't help people's lives get better, quit your job. Don't do that anymore. Don't have "sales" be a curse word in your home. For Scott, sales is not sleazy when you do it correctly. Chad and Scott agree that the core principle of selling is figuring out what somebody else wants or needs and solving that problem for them. According to Scott, people want to buy things that help their lives but don't want to be sold to or tricked into buying things they don't want. Chad goes through the benefits of learning how to sell - if your kids can learn to sell, they can do anything they want in life. To get better at selling, Chad believes you need first to get better at listening, questioning, and then obsess over helping people get what they want.Mentioned in This Episode:
gravystack.com/smart
gravystack.com/igniter
smartmoneyparenting.com
smartmoneyparenting.com/followus
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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What does the future of education look like? In today's episode, hosts Scott Donnell and Chad Willardson discuss how education is slowly moving online and ways parents and kids can use the internet to learn skills necessary for succeeding in the real world.
Chad and Scott start the discussion by describing how the internet will change education as we know it. For Scott, education should be about kids learning practical skills that they can use to succeed in the real world. Itâs so unfortunate that modern education focuses primarily on good grades and memorizing theoretical concepts instead of equipping kids with practical life skills. Scott reveals the reasons most parents donât believe in online education. Scott talks about the critical thinking and practical skills kids and adults can earn online. Scott and Chad discuss the things parents can do to ensure their kids donât become addicted to technology use and social media. As a parent, you must have rules in your home where your kids use technology for education, not entertainment. Chad and Scott agree that the world is a classroom, and you can learn anything you want to learn for free online. Chad is convinced that education has moved online, and it doesnât matter whether weâre ready for it or not. According to Scott, education needs to be ranked and prioritized based on how it creates value in the real world. Scott talks about online safety and consuming the right online content. You must be careful online because if you donât know what âtheyâre selling,â then you are the product theyâre selling. Chad describes the effectiveness of online learning and why it only makes sense when the acquired knowledge leads to action. For Chad, you canât run away from technology. Your kids will be on screens, so always ensure that what they are consuming online is productive.Mentioned in This Episode:
gravystack.com/smart
gravystack.com/igniter
smartmoneyparenting.com
smartmoneyparenting.com/followus
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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What is the secret to raising exceptional kids? In today's episode, hosts Scott Donnell and Chad Willardson discuss the necessary parenting skills to raise Rockstar kids. From fostering a supportive environment to cultivating discipline, creativity, and resilience, the duo uncovers the secrets behind empowering young minds to shine like true stars.
Chad and Scott start the conversation by describing the joys of raising super successful kids. Chad shares how his eldest daughter is winning in almost all aspects of her life. Chad talks about the power of patience, persistence, and discipline in raising rockstar kids. The one thing you want as a parent is to have kids whoknow they can try new things, and if they put in the work, the results and the rewards will follow. Chad reveals the power of setting high expectations for your kids and giving them the resources they need to succeed. Scott and Chad agree that the excitement and enthusiasm to try something new is something all parents must foster in their kids. Scott reveals how consistent little wins can yield big results. As parents, we often underestimate our kids. We don't give them enough credit or think they are incapable of anything. According to Scott, your kids can do things you never thought possible - from learning new skills to solving problems and taking initiative. For Chad, the biggest mistake parents make is labeling their kids and putting them in a box where they cannot try new things. Chad shares things parents can do to help develop their children's curiosity. Chad talks about children taking risks and the mindset your kid needs to develop to succeed in the real world. Scott describes how parents can nurture creativity in their kids by encouraging curiosity and allowing them to try new experiences.Mentioned in This Episode:
gravystack.com/smart
gravystack.com/igniter
smartmoneyparenting.com
smartmoneyparenting.com/followus
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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What are you most afraid of when it comes to raising your kids? In today's episode, hosts Scott Donnell and Chad Willardson go through the five nightmares all parents have with their kids. They cover the foundation of healthy parent to child relationships, what it takes to raise self-sufficient kids, and why deep down, all kids crave independence.
Scott and Chad start the conversation by describing the incredible journey to getting GravyStack online. For Scott, there's no better feeling for a parent than when a kid stops asking for money. Scott and Chad go through the five nightmares all parents have with their kids and how to deal with them. According to Chad, no matter how busy you are, you must create time for real conversations with your kids. It's so unfortunate that many parents see their kids as liabilities. However, Scott is convinced that when you make your kids self-sufficient, they will become valuable contributors in the home. Chad shares how you can effectively prepare your kids for the real world. Scott and Chad discuss ways parents can create a system where kids can learn how to cover their own expenses. For Scott, giving your kids money they did not work for is a lose-lose situation. If you give in, you'll feel guilty for raising entitled kids. If you don't, then your kids see you as the bad guy. Scott and Chad agree that the biggest win for parents is when their kids are motivated to do stuff on their own. The best businesses in the world are solving the customer's deep needs and pain points. Fear just shows that you're unprepared and haven't done the work ahead of time. Did you know that 93% of shared time between parents and kids happens before their 18th birthday? According to Scott, you shouldn't feel guilty when your kids take ownership of their lives. Your goal is to raise accountable kids that don't think the world owes them anything. As your kids grow older, Scott believes you need to move from parent-guardian to coach-friend if you want to maintain a strong relationship into adulthood. Have you ever felt like time is ticking and your kids are growing up too fast? Scott shares how you can build a better relationship with your kids before it's too late. Chad talks about the dilemma most parents experience: I want to be a friend to my kids, but I cannot neglect my duty as a parent. Deep down, all kids want to be independent. You do not want nagging and the constant push-pull between parents and kids in your home. Scott reveals a stress-free system parents can use to maintain a healthy home - a system kids willingly want to follow and enjoy following.Mentioned in This Episode:
gravystack.com/smart
gravystack.com/igniter
smartmoneyparenting.com
smartmoneyparenting.com/followus
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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Do you know about the Tuttle Twins? If not, what resources are you using to help your kids develop critical thinking skills about real-world concepts? In today's episode, Scott Donnell and Connor Boyack discuss ways parents can explain economics, money subjects, and political principles to kids of all ages.
Connor Boyack is the founder and president of Libertas Institute, a free market think tank in Utah. He is best known for The Tuttle Twins books, a children's series introducing young readers to economic, political, and civic principles. Scott and Connor start the conversation by talking about the Tuttle Twins Series and how it is impacting kids worldwide. If you want to teach your kids anything, you must find a way to make it engaging; otherwise, it won't stick. Scott explains what most parents don't realize about raising kids - anything you teach them today is a seed planted for their future success. Connor reveals the things parents should focus on if they want to raise super successful kids. Connor breaks down a survey where more than 50,000 parents were asked about the school system and why they send their kids to school. From the survey, the researchers found that parents primarily wanted their kids to learn practical skills and critical thinking, which are, unfortunately, not emphasized enough in today's curriculum. Connor and Scott agree that parents will get greater results if they learn financial literacy alongside their kids. Scott highlights the two main reasons parents avoid talking about money to their kids. According to Connor, learning doesn't have to be inside a classroom to be effective. Your kids can learn just as much at the dinner table. For Scott, life is your playground as a parent; you can make everything an incredible lesson for your kids. Connor does not believe we can pass some law and fix the issue of financial illiteracy. If we're going to save the future generation, it has to start at the dinner table. The best messages in the world are so easy that a 5-year-old can understand them. Scott reveals that kids learn by having fun and through real-world experience. The fun makes it motivating and the real-world experience gives them capability and confidence to succeed.Mentioned in This Episode:
gravystack.com/smart
gravystack.com/igniter
smartmoneyparenting.com
smartmoneyparenting.com/followus
Tuttletwins.com
Connor Boyackâs LinkedIn
Download the Angel App Here: Angel.com
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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Is having a purpose in life more important than chasing money? In today's episode, hosts Scott Donnell and Chad Willardson discuss why you need to help your kids find their purpose and the financial rewards of chasing purpose instead of money.
Chad and Scott start the conversation by talking about their life's mission and why it has never been about making money - all they want is to help parents raise amazing kids. According to Scott, purpose is greater than money. People need a purpose more than they need money. For Chad, if you're chasing money without a purpose, you're going to be empty, unfulfilled, and unsuccessful. Chad and Scott agree that when you chase purpose and get people on board with that mission, the abundance and financial rewards are unlimited. Giving your kids an allowance without making them work for it makes them grow up thinking they deserve a bunch of free stuff from the world. Scott describes how money cannot make you happy. He knows many rich people who are wealthy but too miserable to enjoy life. It's easy to spot someone who is just chasing money without purpose; they don't care about impact and don't care about people. Chad is convinced that throwing money at people's problems will not solve anything. They are not going to be happier, and they're probably going to spend their way back to being broke. The point of life is not just to get rich. The point of life is to find purpose and find ways to love. According to Scott, you have to chase purpose more than you chase financial rewards. Financial rewards come after you find your purpose and become valuable. Chad and Scott agree that it's hard to make money. You can only do it through hard work, discipline, and creating value. Chad talks about finding your mission and how doing what you were born to do will ultimately lead to financial rewards. Scott reveals the trilogy of finding your purpose - these are the things you love, the things you're good at, and finding ways to solve other people's needs.Mentioned in This Episode:
gravystack.com/smart
smartmoneyparenting.com
smartmoneyparenting.com/followus
What's in It for Them?: 9 Genius Networking Principles to Get What You Want by Helping Others Get What They Want by Joe Polish
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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How can you prepare your kids for the real world after leaving the nest? In today's episode, hosts Scott Donnell and Chad Willardson discuss why you must create a home environment similar to what your kids will find in the real world.
Scott starts the conversation by describing when and how parents should start preparing their kids for the real world. Chad reveals the most important lesson he learned growing up. As a parent, your kids need to know that play never comes before work. We work first, and the rewards come later. For Scott, the worst thing you could ever do as a parent is to raise your kids in a bubble. Scott and Chad explore ways parents can create a home economy that mirrors the real world. Give your kids love and show them that you care, but don't protect them from struggle and sacrifice. Scott and Chad agree that we need to raise kids two years older than they are. Teach them the future and give them responsibility earlier than what society says their age deserves. Scott describes how mimicking the environment of the real world at home will do your kids a lot of good in the future. According to Scott, you're not loving your kids more by cuddling and pampering them. You're just preparing them for shock and failure once they leave the nest. For Scott, your kids will become entitled when they get whatever they want without working for it. Shockingly, 80 to 90% of parents never make their kids pay for anything. According to Scott, kids need to start covering some of their expenses from age six to eight.Mentioned in This Episode:
gravystack.com/smart
smartmoneyparenting.com
What's in It for Them?: 9 Genius Networking Principles to Get What You Want by Helping Others Get What They Want by Joe Polish
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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What is the key to developing coachability in your kids? In today's episode, hosts Scott Donnell and Chad Willardson discuss why coachability is crucial for success for both kids and parents.
Chad and Scott break down the concept of coachability and why itâs important for a familyâs success. The most successful people have coaches. According to Chad, high performers have coaches and view them as a crucial cog in their path to success. Parents should never match their kidâs emotions. If your kid is going wild or getting angry and frustrated, the worst thing you can do is sink to their level. For Chad, the biggest compliment you can ever receive as a parent is that your kids are coachable. According to Chad, coachability sets apart the winners from those who donât want to learn how to win. Scott explains the benefits of your kids being part of a competitive team. If you want your kids to be financially competent and ready to succeed in the real world, they need to be coachable, and so do you. For Scott, how kids react to coaches says a lot about how you raised them and their view of life and personal improvement. Solve problems together. Itâs not you versus your kid; itâs you and your kid versus the problem or the challenge at hand. Scott explains why you need to teach your kids that not all situations are win or lose - sometimes you learn. Scott breaks down the First Time Follow Rule and how it can help you raise coachable kids. Does good cop/bad cop work with children? Chad and Scott go through the pros and cons of this type of parenting strategy. Scott and Chad reveal what parents can do to become more coachable and learn to cultivate coachability in the home.Mentioned in This Episode:
gravystack.com/smart
smartmoneyparenting.com
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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Should you be firm with your kids? In today's episode, hosts Scott Donnell and Chad Willardson discuss how being firm and kind to your kids creates mentally strong and successful kids. They cover the best way to say no to your children and how letting your kids solve their own problems turns them into confident, resilient, and well-rounded individuals.
Chad starts the conversation by describing how being firm but kind creates mentally strong and successful kids. Scott describes the foundation of being a firm but kind parent. Scott and Chad agree that relationships without rules equals rebellion. However, relationships with rules equals bonds that last a lifetime. Having rules is not about turning your kids into little robots. Allow room for creativity but have guidelines that keep them in check. Scott outlines the benefits of allowing your kids to solve their own problems. For Scott, when a leader is too firm, they become like a tyrannical dictator. Everyoneâs scared of them, and that rarely creates the best results. Will your kids hate you if you have rules that they must follow? Of course not. Kids need structure to develop into secure, happy adults. If you have a consequence laid out for your kids, you better follow through with it. Understand that there is no substance to kindness without firmness to back it up. Chad explains why sticking to what you say is crucial for successful parenting. Scott describes how parents can learn to say no with kindness. Scott believes the best relationships are built when your kids understand and agree with the why behind your decisions.Mentioned in This Episode:
gravystack.com/smart
smartmoneyparenting.com
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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Scott and Chad sit down and discuss how letting your kids scrape their knees is key to their long-term success and overall resiliency in life. Find out why small struggles and overcoming difficult challenges is important to building confidence and how parents that coddle their children prevent them from growing into all they are meant to be.
Kids need to run into small obstacles and challenges like scraping their knees. Scott tells the story of making mistakes as a new and exhausted father. Babies and children have no concept of their mortality and often attempt things that result in them getting hurt. The trick is in providing an environment where they can make mistakes, get some bumps and bruises, but while not risking anything really dangerous. The more you coddle your children, the harder it is going to be for them to learn on their own. Children will look to their parents in some situations to figure out how to respond to a situation. We have to be careful with our reactions. No parent wants their kid to get hurt, but if the kid can learn and succeed through the struggle, there is incredible capability and confidence on the other side. We tend to jump in as parents and fix our kidâs problems, but that doesnât help them grow at the end of the day. The greater joy is seeing your children overcome and get back up. There is no losing as a kid, there is winning or learning. The resiliency that a kid builds by trying over and over again, and breaking through barriers, is the resiliency that creates success long-term. A great question at the dinner table is, "What have you learned today by trying something new?" Reward your kids for trying new things instead of just succeeding at something theyâve already done before. Itâs better to make small mistakes when youâre young than big mistakes when youâre much older. Let your children go through the struggle and celebrate them when they get to the other side. Little mindset shifts as a parent make a big difference. Letâs let our kids fail, make mistakes, learn, get up, get better, and keep going. Praise the effort and their persistence.Mentioned in This Episode:
gravystack.com/smart
smartmoneyparenting.com
Grit by Angela Duckworth
Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson
Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott
Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson
Scott Donnell on Instagram - @imscottdonnell
Chad Willardson on Instagram - @chad.willardson
Scott Donnell on TikTok - @imscottdonnell
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