Episodes
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#047 With inflation and gas prices at an all-time high, it’s time for us to become more aware of our spending, avoid unnecessary expenses, and decrease the amount of debt we’re incurring. One of the major types of debt Americans incur comes in the form of student loans for higher education… and they often stick around for many years! So, how can we help our children avoid student loan debt? Today’s guest is going to teach you!
Meet Brad Baldridge, a college funding specialist and college planning expert who helps parents navigate college planning and expenses through his private practice, blog, and his podcast, Taming the High Cost of College.
In this episode, Brad explains why it’s so easy to get into student loan debt, how to find the best college for your budget, and realistic ways to help your child pay for college without incurring a large student loan debt. Is it worth going into debt for a college education? Listen in to hear Brad’s candid thoughts on the value of a college degree compared to skipping college and going right into the workforce. Plus, Brad shares a few tactics, like hiring a coach, that will help your kids plan their college education, pick their major(s), and get the most bang for their buck.
“It’s a complicated game and you’ve got to understand the rules so that you can use the rules to your advantage… Colleges are a business. It’s their job to help you go to college but it’s not their job to keep your costs as low as possible.” - Brad Baldridge
STAY TUNED FOR FINANCIAL LITERACY MONTH NEXT MONTH!
If you enjoyed this podcast and know someone else who would benefit from it, we invite you to SHARE it & RATE/REVIEW it on our website, iTunes, Apple Podcasts, or wherever you’re tuning in from!
Resources Mentioned:
Listen to Taming the High Cost of College
Visit Brad’s Blog
Check out his college planning courses
Connect with Brad on Facebook
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#046 What do you know? We all back the month of February has just flown by what have you done this month? That is interesting. Are you still sticking to your new year's resolution? Because this is the time where everyone quits, some people quit and don't even realize that they quit. The reason I'm talking about this is because I had a conversation with a person about two weeks.
And we was having a conversation about the show and he doesn't plan to teach his kids about any financial literacy. Doesn't have the time to do it at all. Now his main reason for this is because he figures that he grew up fine and his kids will grow up just fine. The thought he just feels flat out through the course of life.
His children will just pick it up and we'll be okay, just like. So essentially for him, he did not have the why to go above and beyond to try to teach his children about financial literacy. And that's what we're going to talk about today.
If you enjoyed this podcast and know someone else who would benefit from it, we invite you to SHARE it & RATE/REVIEW it on our website, iTunes, Apple Podcasts, or wherever you’re tuning in from!Stay tuned for more episodes coming your way!
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Missing episodes?
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#045 How do you make learning about finance fun and easy, especially for kids and beginners? We have someone very special to break it down for you…
Meet Rishi Vamdatt, the 12-year-old personal finance educator and visionary behind Easy Peasy Finance, a kid-friendly resource that can be utilized by parents and educators alike to teach young minds about personal finance while keeping them engaged. Having started learning about finance at the age of 6, Rishi is now using financial strategies that some adults don’t even use or know about.
In this episode, Rishi talks about his journey of learning about finance, his favorite money and finance books for kids, and how he’s applying his knowledge about investing for retirement. He also highlights the benefits of listening to the Easy Peasy Finance Podcast with your kids, the biggest challenges he has encountered along his financial education journey, and the results you can expect from investing your money for retirement. Then, Rishi shares a few simple action steps you can take to get your child or teenager involved in learning about money and finances.
“Now, after these almost four years of Easy Peasy Finance, I’ve kind of learned a lot of things along the way and it’s a lot easier now than it was at the beginning.” - Rishi Vamdatt
Rishi is 12 and he’s already planning for retirement?! Don’t let that intimidate you, though. Let that be inspiration and fuel for you to empower your kids to start making financial decisions early in life! It’s possible and it’s easier than you think.
If you enjoyed this podcast and know someone else who would benefit from it, we invite you to SHARE it & RATE/REVIEW it on our website, iTunes, Apple Podcasts, or wherever you’re tuning in from!
Stay tuned for more episodes coming your way!
Resources Mentioned:
Listen to the Easy Peasy Finance Podcast
Subscribe to Rishi’s YouTube channel
Learn more about Easy Peasy Finance
I Will Teach You To Be Rich by Ramit Sethi
Blue Chip Kids by David W. Bianchi
The Kid’s Money Book by Jamie Kyle McGillian
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#044 Is real estate a good form of investment for families? Should kids be learning about real estate from a young age? Spoiler! The answer is yes.
Meet Whitney Chaffin, a speaker, investor, philanthropist, realtor, and mother who provides people with second chances through real estate. In this episode, Whitney talks about the first steps to take when teaching your kids about real estate investment and getting them involved in this wealth-building asset class. Whitney highlights the impacts she’s been able to make in her community as a result of her investments and shares powerful resources you can use to educate yourself about real estate investing.
“The biggest thing is honestly personal development skills. As you get into the real estate side of things, you really learn who you are because this business is not easy… When you start to see how this business and these traits can really allow for you to have that financial freedom, it is very hard to go back to the workforce and so you get this motivation that you won’t settle.” -Whitney Chaffin
Many people think that real estate is a rich person’s game, but as Whitney says, it’s not about being rich, it’s about being smart and thinking differently. Whether you want to invest in real estate, stocks, or cryptocurrency, financial literacy and education is the first step to financial freedom. Are you interested in learning how to invest in real estate and make it a part of your child’s financial freedom? Check out Whitney’s recommended resources below and connect with her to learn more!
If you enjoyed this podcast and know someone else who would benefit from it, we invite you to SHARE it & RATE/REVIEW it on our website, iTunes, Apple Podcasts, or wherever you’re tuning in from!
Stay tuned for more episodes coming your way!
Resources Mentioned:
Learn more about Whitney’s Place
Learn more about Elite Legacy Education
Join the Real Estate Mamas
Donate to Place of Hope
Follow Whitney on Instagram
Email Whitney: [email protected]
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#043 With divorce rates climbing and more women consciously choosing the singlelife, more women are providing for themselves (and often their children, too). Unfortunately, too many women are unprepared to take on financial responsibilities all by themselves… and it’s not necessarily their fault. As parents, it’s our responsibility to prevent that from happening to our daughters. Let’s empower the future generations of women to be financially confident and free! Here’s how…
Today’s guest, Jayne Ellegard, is inspiring financial confidence in women by empowering them to take charge of their financial literacy and reach their financial goals. Jayne is the Founder and Coach at Ellegant Wealth, where she provides keynote speeches, workshops and coaching about financial education, specifically focused on women.
In this episode of Raising Financial Freedom, Jayne teaches you how to teach your daughters about money and empower them to cultivate financial freedom. She highlights her journey to becoming an entrepreneur and insights she’s gained on how to raise confident and financially responsible daughters.
“I want women to feel empowered around their financial situation and I do think that women haven’t been provided the education that we need and we don’t talk about it… When they gain confidence in this area, it also spreads into other aspects of their life.” - Jayne Ellegard
Understanding money and finances isn’t as difficult as people think it is, so there needs to be a mindset shift so women can feel invited to the table to engage in conversation about wealth management.
If you enjoyed this podcast and know someone else who would benefit from it, we invite you to SHARE & RATE it on iTunes, Apple Podcasts, or wherever you’re tuning in from!
Take a few seconds to leave a REVIEW: https://raisingfinancialfreedom.com/reviews
Stay tuned for more episodes coming your way!
Resources Mentioned:
Learn more about Ellegant Wealth: www.ellegantwealth.com
Connect with Jayne on LinkedIn: www.linkedin.com/in/jayne-ellegard
Financial Empowerment For Women by Jayne Ellegard: www.ellegantwealth.com/book-preorders
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#042 How do you help teens become financially literate and make smart money moves before they reach adulthood? You have to get on their level and understand how they think…
Meet Charla McKinley, a Certified Public Accountant (CPA) who homeschooled her kids and is now teaching teens about money. In this episode, Charla talks about how to teach your teenagers about financial literacy, using and saving money wisely, and how adulting really works. She sheds light on why kids need different types of financial literacy curriculums based on their age, as well as how each child can benefit from tailored lessons based on their personality. Plus, Charla shares tactics you can use to teach your kids about the reality of adulting, the value of money, and being prepared for the workforce.
“Experience is the best teacher. It’s just that… when I learned, I wasted tens of thousands of dollars… If they learn it when they’re teenagers and it’s fake money, then hopefully when it’s real money, by the time they’re in their 20s, they’re a lot more wise.” - Charla McKinley
Sadly, personal finance isn’t a topic commonly taught in American school systems, but as parents, we have the power to give our kids the financial literacy needed to have a successful, happy life. Listen in to learn how to provide your kids with practical lessons based on real life scenarios.
If you enjoyed this podcast and know someone else who would benefit from it, we invite you to SHARE it & RATE/REVIEW it on iTunes, Apple Podcasts, or wherever you’re tuning in from!
Stay tuned for more episodes coming your way!
Beyond Personal Finance: https://bpfclass.com/Linked In: https://www.linkedin.com/company/beyond-personal-financeFacebook: https://www.facebook.com/beyondpersonalfinanceInstagram: https://www.instagram.com/beyondpersonalfinance/
Links Mentioned: -
#041 What advice do you have for parents trying to raise their kids to have financial freedom?
That’s the question Eric asked some of our guests from past episodes of Raising Financial Freedom. In this episode, you’ll hear their top tips and pieces of advice for parents on teaching their kids about finances, financial literacy, and life in general.
Our guests offer a lot of wisdom on raising kids to be financially independent… but almost every one of them emphasizes the importance of communication in teaching kids about financial literacy, nurturing their independence in decision-making, and making it fun to learn about money.
Listen in to learn the best ways to bring financial freedom and literacy into your home and how to start doing so today.
If you enjoyed this podcast or think a loved one would benefit from it, we invite you to SHARE it with a friend & RATE/REVIEW it on iTunes, Apple Podcasts, or wherever you’re tuning in from!THANK YOU for a fantastic 1 YEAR of Raising Financial Freedom! Stay tuned for more episodes coming your way!
Episode Timeline: What You’ll Learn & Questions Answered
00:00 – Intro: How do you raise financial freedom in kids?
02:02 – Sabrina Constantine: Teaching kids about finances, giving your kids a voice in decision-making, and reducing fear around money.
05:00 – Chelsea Robberson: Normalizing conversations about money, follow your kids’ interests, and having resources available for your kids to explore and learn on their own.
10:21 – Jacqueline Collins Prester: Talking to your children about finances at a young age and building a number sense through games and activities.
13:36 – Nick Loper: Being the CEO of your own home, tracking your profitability and net worth, and always running “tests” to see if things are working.
17:57 – Tod Christensen: Being open with your kids when they ask questions about money, expressing financial priorities instead of denying their wants, and playing financial games with your children. Bonus: Asking your kids their thoughts on the commercials that come on the TV.
18:15 – Thank you for an amazing YEAR of Raising Financial Freedom! & How to help us keep growing
Listen to the episodes mentioned & Learn more about our guests:
Sabrina MJ Constantin -Episode 003-https://www.buzzsprout.com/1288991/6231079 Chelsea Robberson -Episode 005- https://www.buzzsprout.com/1288991/6320194 Jacqueline Collins -Episode 017- https://www.buzzsprout.com/1288991/7667245 Nick Loper - Episode 018 -https://www.buzzsprout.com/1288991/7798882 Todd Christensen -Episode 025 - https://www.buzzsprout.com/1288991/8353347 -
#40 As the holidays are approaching, family time is just around the corner! What better way to strengthen your family bond than by building generational wealth?
In this episode of Raising Financial Freedom, Eric Welcomes the Wealth Twins, Nadia and Nicole, to explain how to build generational wealth in your family and how to teach your children about money and life planning.
“Life changes and you have to be able to think forward and say “okay, if I’m no longer here, how could I protect the people I love?”
These self-made, millionaire mothers are known for sharing financial wisdom on their YouTube channel, helping others to make money and create sustainable wealth for generations to come.
Listen in to gain insight into ways you can immediately start building the net worth and financial literacy of your family, especially if you’re a busy, working parent. Whether it’s through investments, updating your retirement account beneficiaries, or buying assets like index funds, taking a few small steps towards financial abundance will pay off tenfold later in life.
“Net worth is not tied to your job. It’s not about your paycheck, it’s about what you do with your paycheck. So, you can make that mindset change and you can do something about it immediately.”
Curious to dive deeper into this topic? Ask yourself these questions:
What does wealth mean for you and your family?
What steps are you going to take today to start building generational wealth for your children?
PLUS, get your FREE Parent Investing Guide on 5 Ways to Begin Investing for Your Children: www.wealthtwins.com/ericyard
Connect with Nadia & Nicole:
Visit their website: www.wealthtwins.com
Subscribe to their YouTube channel: www.youtube.com/c/WealthTwins
Follow them on Instagram: www.instagram.com/wealthtwins
Follow them on Twitter: www.twitter.com/wealthtwins
Connect with them on Facebook: www.facebook.com/wealthtwins
Email them: [email protected]
Stay tuned for the re-launch of their course about learning how to generate passive income by investing your money!
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#039 Having existed for over 10 years now, cryptocurrency is gaining popularity and power around the globe, so it’s time to start talking to our kids about it. Many parents don’t want to get involved with cryptocurrency because they don’t understand it… but today, that’s going to change.
“Crypto is doing for money what the traditional Internet is doing for information.”
In this episode of Raising Financial Freedom, Eric welcomes Shahar Abrams, Founder and CEO of Road to Babylon, an organization focused on educating the masses on cutting edge financial tools, like cryptocurrency. Shahar explains what cryptocurrency is, how it works, and the different types of crypto coins available on the market so that you can start sharing this information with your kids.
“It’s a way for people to use money in the way that they want without anyone’s permission, without needing a bank account, without needing permission from a government.”
Listen in to learn about the technology behind cryptocurrency, known as block chains, as well as the basics of managing cryptocurrency online, where to safely set up a digital crypto wallet, and how to get your kids involved in investing in cryptocurrency. Plus, you’ll gain expert insight into what the future of crypto looks like and the pros and cons of investing in it.
“What I love most about [cryptocurrency] is I think it promises a better future. It promises a more inclusive financial future for everyone around the world.”
Resources & Apps Mentioned:
MetaMask: www.metamask.io
Celsius Network: https://celsiusnetwork.app.link/197418b27f
Coinbase: www.coinbase.com
Kraken: www.kraken.com
Play to Earn: www.playtoearn.online
Want to dive deeper into this topic?
Stay connected with Shahar to enroll in his online course, The Complete Crypto Investor’s Toolkit: www.roadtobabylon.org/crypto-investor-toolkit-course
Connect with Shahar Abrams:
Visit his website and sign up for his newsletter: www.roadtobabylon.org
Follow them on Twitter: www.twitter.com/ShaharAbrams
Email him: [email protected]
Disclaimer:This post contains affiliate links. If you make a purchase I may receive a commission at no extra cost to you. -
#038 In this episode, we have Linsey Knerl. She is a mother of six who has been homeschooling and since 2004. Linsey practically produced and taught a small classroom, but at the same time, runs a small business. Along with homeschooling, entrepreneurship has led her to a freelance writing career that complements her own homeschool style. Linsey is also the author of Homeschool Hacks and is very passionate about the opportunities for home education. Today, Linsey is going to share with us what it’s like be a working mother and homeschooling kids. She shares her experiences about homeschooling and how home education has significantly helped her children become well-educated members of society.
Please go to Raising Financial Freedom.com for full show notesHomeschooling vs. teaching in School
[2:26]
Teaching children at school is a different beast from teaching kids at home. You can't really homeschool and work at the same. With the Pandemic, every parent has experienced homeschooling their kids with virtual learning. But it can be done with the amount of hours a day that it takes to educate your child. It isn't as many hours as others would think from the traditional public school schedule. With younger kids, they can be educated in as few as two hours a day all the way up to high school. Formal instruction can take place in less than even four hours. And the rest is extracurricular, administrative, all those things that happen in the school day that aren't really learning related.
[4:34]You will stop looking for things sometimes when you just assume the school is going to provide opportunities for you. But if you're motivated and have initiative, the opportunities are endless for homeschoolers.
How Homeschooling is Understood by others[16:34]
Having people over entertaining is almost impossible because people who don't homeschool, don't understand why you have so much stuff. It's very hard to do like a minimal lifestyle thing when you need 30 books for each child. It's just a different way of living. So for somebody whose kids are in school all day, it can be hard for someone else to deal with that much like energy. It can be a little hard to find your people if they're not also homeschoolers.
How Homeschooling affects the Future of your Kids
[18:10]
Homeschoolers can't really blame anyone else. But if kids are doing that independent learning module, they're developing skills that once they get into college, then they will grow to become independent individuals and they will have an advantage when it comes to dealing with life on their own. If you do teach them the right things and raising them to be young adults and not just big children that go on and become someone else's problem, then there is a big difference.
How to Start Homeschooling your children[21:34]
Whether you're going to do it full time, or you're just doing it like for a while to get through, start with the one thing your child really likes whether that's math, reading, science, or history. And tackle that with as much passion as you can along with the tools and resources to make it rewarding for them. Then build upon that.
Learn more about Linsey Knerl:
Book: https://www.amazon.com/Homeschool-Hacks-Education-Without-Losing/dp/1982171154
Twitter: https://twitter.com/lknerl?lang=en
LinkedIn: https://www.linkedin.com/in/linseybknerl
Website: https://www.linseyknerl.com/
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#037 Today on a solo show. Someone asked me the other day, Eric, why there is no set system of retirement in this country. And I thought about it and I told him once upon a time there was not a set system, but there was a kind of a for. That everyone followed and little financial literacy was needed at that time because everyone just did the same thing.
[00:02:02] Eric: So let's go back to a time where the economy was good and things was picking up right after, uh, a world war, world war two
[00:02:28] Now that's a lot of goods and shelter that's needed. Women at that time were averaging four kids per household
[00:03:25] And this was done for decades. There's no financial literacy that's needed here. You just followed simple cut and paste and it worked
[00:04:20] This 401k was supposed to be in addition to the retirement plan you had back then,
[00:05:14] So now 401k replaced. The great recession, pretty much crippled and damaged the stock market and people savings.
[00:06:47] Or financially free to the point where retirement was thought of at an early age and the methods to retirement Come to them as second nature.
Check out our website: https://raisingfinancialfreedom.com/Like us on Facebook: https://www.facebook.com/RaisingFinancialFreedom
Like us on Twitter: https://twitter.com/RF_Freed
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#036 Dan shares that he has repeatedly made failed attempts at getting schools around him to make personal finance classes a requirement for graduation and explains the reasons. The first reason is that the public school system is severely underfunded across the country, and making changes to the curriculum would require money. Secondly, most politicians focus on the data that is available on student performance which does not include personal finance; hence it is relegated to the background. Additionally, the older generations who now make most decisions in places of authority believe they turned out successful even if they didn't have financial education growing up, and so do not see it as a necessity. Lastly, the decision-makers in most learning institutions also foresee that adding personal financial classes to the curriculum would eventually increase the amount of work on their plate, while they are already overworked this would be detrimental to them.
For complete show notes go to RaisingFinancialFreedom.com
- "It is a huge disservice to our youths that we don't have more personal finance education in schools"- "We are a financially illiterate country"
- "If we were a financially literate county we would be in a much better place"
- "Reaching Financial Independence in your 40s, 30s or even 20s is absolutely doable with the right strategies, tactics, and mindset"
In This Episode:
· [02:46] Meet today's guest, Dan Sheeks.
· [03:22] Why do you think school systems don't have in-depth classes on personal finance?
· [07:08] What would the world look like if the regular child was given personal finance classes?
· [09:02] Why did you choose Real Estate?
· [10:05] How can parents teach their children about Real Estate?
· [10:42] Discussing Passive Income in Real Estate.
· [11:52] House Hacking and the "BRRRR" Method.
· [17:16] How can a parent pull the veil away from Real Estate?
· [20:27] The "Sheeks Freak Group".
· [24:10] What are the hidden pitfalls in Real Estate that prevent young adults from succeeding?
· [27:10] What is the best piece of advice you can give a parent to get their child involved in Real Estate?
· [27:15] How to contact Dan
Instagram: Dsheeks
Email: [email protected]
Links Mentioned:
Dan’s Website: www.sheeksfreaks.com Check out our website: https://raisingfinancialfreedom.com/Like us on Facebook: https://www.facebook.com/RaisingFinancialFreedom Like us on Twitter: https://twitter.com/RF_Freed -
Therese is a busy mom and the author of the book, "Playing For Keeps". After working as a career woman for many years till she sold her company, Therese retired early and spends more time with her kids. She shares that her experience with 9-11 also made her reevaluate all she was doing why she was doing them.
Having a father who was all about Family helped inculcate it in Therese. She brought those same values into raising her kids, particularly by making sure she set an example that they could follow. After her dad died, Therese started to research her heritage just like her dad did, and realized that she came from a line of quite prominent people which helped her understand why she was so driven and motivated to stand out.
For full show notes go to Raising Financial Freedom.
- "Family is everything to me"- "So those pearls, I would say, in business, they apply to life too"
- "You earn money so enjoy it, at the same time have a bigger plan so that you have a direction that you're going"
In This Episode:
· [00:48] Meet our guest, Therese Allison.
· [02:53] How important is family to you?
· [03:56] How important is your family name to you and how can you pass that torch on?
· [04:48] About Therese's family background.
· [06:51] What would you say was the biggest challenge you had to surmount?
· [07:44] What do you think your kids have taken out of your journey?
· [09:34] What money lessons did you give your kids while they were growing up?
· [13:12] 7 money secrets
· [19:59] Do you want your kids to follow in your footsteps in an entrepreneurial way?
· [20:33] What action steps can parents take to prepare their children for finance?
· [21:47] About Therese's book, "Playing For Keeps"
· [23:27] What is the best thing that has happened to you since you started this journey?
· [24:09] Therese's advice to parents.
· [25:27] How to contact Therese
Links Mentioned:
Therese’s Website: www.thereseallison.com/Check out our website: https://raisingfinancialfreedom.com/Like us on Facebook: https://www.facebook.com/RaisingFinancialFreedom Like us on Twitter: https://twitter.com/RF_Freed -
#034 Many fundamental skills like networking, communication, negotiating, are not often taught in school. This is mostly due to the history behind the education system, which over time has continued to only focus on teaching the basic knowledge required in each career field. Unfortunately, most career courses even in university don't cover teaching these skills, even though they are practically critical for success in any field of specialty.
Mark Herschberg shares that even with 3 degrees from MIT, it was quite tough to properly manage his interactions within the workplace, and lost some opportunities because he lacked these very basic skills. Knowing he planned to become a Chief Technology Officer, he set out to teach himself and discovered that these skills aren't just for leaders but for all workers. MIT has also gotten feedback from companies, and other studies show a general scarcity in use. This is why Mark put together the program at MIT that teaches these skills and went ahead to write his book too.
For full show note please go to Raising Financial Freedom.com
- "If you just learn to negotiate… To be a little better… you can add 5 figures or 6 figures to your lifetime earnings"- "Any good manager will tell you he or she wants to hire leaders, even for entry-level people"
In This Episode:
· [02:50] Meet today's guest, Mark Herschberg.
· [03:31] Why are there so many skills for kids that have been forgotten by the school system?
· [06:00] Do you feel that young adults are prepared enough today to step out into the real world?
· [09:25] How was your transition stepping into the real world?
· [11:46] How can a parent introduce their children to these skills, and when?
· [13:59] About Mark's book; "The Career Toolkit"
· [15:01] What action steps can parents take to get kids to learn these skills?
· [20:43] Given only one choice, which one skill would you implement in your child?
· [25:24] In the theme of health, wealth, and family, what advice would you give parents?
· [27:05] How to connect with Mark
Links Mentioned:
Mark’s Website: www.thecareertoolkitbook.com Check out our website: https://raisingfinancialfreedom.com/Like us on Facebook: https://www.facebook.com/RaisingFinancialFreedom Like us on Twitter: https://twitter.com/RF_Freed -
#033 Following the money printing done to alleviate the impact of job loss during the pandemic, inflation is expected and is already being experienced with the cost of goods going up. Also, people who saved a lot are now spending much more, and this is also driving up the cost of living. Jennifer advises that in anticipation of the looming inflation, families should be rational, take a step back, be patient and make sure they make decisions they are confident about. The first step for most people is to avoid major unnecessary purchases, and consider cheaper alternatives in daily purchases. Jennifer notes that most often it's the bigger expenditures that create financial difficulties for people.
For complete Show notes go to Raising Financial Freedom
- "Whenever there's something intimidating or a little frightening... take a step back, and take a deep breath, and use your most rational self"- "There are people who walk into marriage without knowing if their partner has debt or assets, and they don't realize that marriage is a legal contract"
- "When I see parents, there's often the intentional lessons… and sometimes the kids get those lessons, but always the kids just pick up from what you do day in and day out"
In This Episode:
· [01:39] Meet today's guest, Jennifer Sahady.
· [02:08] What are your thoughts on inflation as a possible impact of the money printing that was done due to the pandemic?
· [03:36] How can a family can prepare for this inflation?
· [05:16] Jennifer shares her thoughts on marriage and divorce today as the root of her TEDx talk.
· [07:33] What are the damaging effects of divorce on finances?
· [010:33] About Prenups and the process of divorce.
· [12:41] What skills can parents teach their children to prepare them for marriage in relation to their finances?
· [14:34] What role did money in marriage play in developing your philosophy?
· [16:59] How did you get started in finances?
· [19:38] What steps can a parent take now to put their children on the right road when it comes to marriage and money?
· [22:06] What checklist items should be checked by young adults before getting married?
· [23:21] What is the biggest challenge for young couples when it is time to meld their finances together?
· [25:32] What is the best piece of advice you can give to young couples?
· [27:15] How to contact Jennifer
Links Mentioned:
Jennifer's Website: www.jennifersahady.com Jennifer's LinkedIn Page: Jennifer SahadyJennifer's Email: [email protected] out our website: https://raisingfinancialfreedom.com/Like us on Facebook: https://www.facebook.com/RaisingFinancialFreedom Like us on Twitter: https://twitter.com/RF_Freed -
Today's going to be a little bit of a shorter show and it's going to be a solo. A couple of episodes ago. One of my guests, Robert Shulz we briefly talked about. Compounding interests. Now I want to revisit that. Talk about that a little bit more. So the parents out there can fully understand how important this could be to their child when just starting off in life now to quote Albert Einstein, he who understands it, earns it. He who does it. Pays it.
M1 finance: https://m1.finance/vOvlRgEue1FKBlockfi: https://blockfi.com/?ref=35ea4597Celsius network: https://celsiusnetwork.app.link/197418b27fLike us on Facebook: https://www.facebook.com/RaisingFinancialFreedom Like us on Twitter: https://twitter.com/RF_Freedom
In This Episode:
[00:01:34] -Simple interest
[00:03:00] - Compound interest
[00:04:23] - Time, compound interest best friend
[00:05:17] - Where can you find compound interest?
[00:09:47] - Starting early
Links Mentioned:
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#031 The pandemic has brought the lack of financial education into focus for many people, institutions, and businesses. Marilyn shares that she has started to see more people take steps towards gaining financial freedom through education.
Most cultures tend to either not talk about money with kids, or they treat it as a taboo, giving almost no introduction of money to the kids in a way that they can leverage it as a tool. The problem is that while a lot of parents expect that kids will learn about money in school, the curriculum can barely offer the kind of practical knowledge on the use of money which the home is well suited to give. Hence the kid gains little or no financial education either from the home or the school.
For full show notes please go to Raising Financial Freedom
In This Episode:· [03:05] Meet today's guest, Marilyn Lydia Pinto.
· [03:31] With the pandemic winding down, what is your opinion on the financial fallout?
· [04:20] What is money to a child?
· [05:41] What is the difference in the perception of money between Dubai and other countries?
· [08:38] What are some of the common myths and stigmas you come across concerning money?
· [11:41] Excuses parents give why they don't teach their kids about money.
· [13:46] About the Kids Finance Initiative.
· [16:30] When did you realize you had a passion for teaching financial literacy?
· [18:36] What are some of the consequences of not educating children financially?
· [20:48] At what age would you recommend a child starts gaining financial literacy?
· [23:52] What do you love about teaching financial literacy?
· [21:57] What action steps can a parent take to imbibe financial literacy in their kids?
· [24:29] What is the one thing that people don't realize about money?
· [25:23] Marilyn's advice to parents.
· [25:53] How to contact Marilyn
Links Mentioned:
News-https://www.blackenterprise.com/prominent-leaders-launched-an-initiative-to-embed-financial-literacy-into-the-culture/News-https://www.fl4a.org/Marilyn’s Website: www.kidsfinanceinitiative.com Marilyn’s LinkedIn Page: Marilyn Lydia PintoCheck out our website: https://raisingfinancialfreedom.com/Like us on Facebook: https://www.facebook.com/RaisingFinancialFreedom Like us on Twitter: https://twitter.com/RF_Freedom -
#030 Robert shares his dad probably taught him compound interest because he learned it the hard way, and being a stockbroker for the first part of his career, he wanted to share it. Robert also found a way to impart financial knowledge in his own kids as part of bringing them up. Robert appreciates that young people today are more interested in investment rather than compound debt, but he hopes that they understand that it takes patience and time not the idea of quick money every week.
For full show notes please go to Raising Financial Freedom
- "You have to give that compounding time to work, you need to have some patience"- "As a parent with kids, make sure you have life insurance"
- "That period of time when you go from zero money to $100,000 is just as important as maybe later when you go from 1 million to 2 million"
In This Episode:
· [01:58] Introducing our guest, Robert Schulz.
· [02:55] Why is compound interest not taught?
· [05:09] What is the main point you would like people to get from your book: "Thoughts on things financial"?
· [05:50] What are some of the things your father passed to you that kids aren't doing today?
· [08:46] Robert shares methods he applies to teach kids about money.
· [011:34] At what age should a child start investing?
· [011:50] When do you realize that you had a passion for Finance?
· [14:35] Robert highlights certain points of frustration and pitfalls that stop people from succeeding.
· [18:46] How can a parent overcome their fears of talking about money with their kids?
· [18:54] Apart from a savings account, what can a parent do to start their child investing on the right path?
· [23:18] 3 gems from Robert's book.
· [25:24] What is the one thing people don't realize about money?
· [26:33] What resources would you recommend for parents to learn about money and pass on to their children?
· [27:32] How life could be one of the bad guys in a room.
· [28:46] What are your thoughts on starting a Roth IRA for your kids?
· [29:55] How to contact Robert
Links Mentioned:
Robert’s Website: https://www.schulzwealth.com/Robert’s Facebook Group: Thoughts on things financialCheck out our website: https://raisingfinancialfreedom.com/Like us on Facebook: https://www.facebook.com/RaisingFinancialFreedom Like us on Twitter: https://twitter.com/RF_Freedom -
#029 Although Silicon Valley in California has a lot of tech companies, a study by Chamberlain University ranks California an "F" in teaching kids about financial literacy. Luke encourages his children to read books about financial literacy and also applies his business knowledge at home.
He also created a company, "Conteneo" that helped enterprises manage their investment portfolios which ultimately helped in participatory budgeting to create better budgeting decisions. This was used in schools involving a process where kids were given money on the condition that they had to manage it themselves. They were guided through a 5-step process including a "theme"; how to spend the money, "ideation"; creation of rough proposals for how to spend the money, "refinement"; creation of details behind the proposals, "Voting"; an opportunity to ensure most students are involved, and lastly "implementation" of the ideas from students. This process gives the opportunity to teach important concepts in financial literacy. The app is free for families.
For complete show notes please go to Raising Financial Freedom
In This Episode:· [03:05] Introduce today's guest, "Luke Hohmann".
· [03:21] How would you say financial Literacy is in Sunnydale California?
· [05:16] With you being so close to financial literacy, how do you involve your children?
· [011:37] Which age group is adopting financial literacy at a better rate?
· [14:22] What do your kids gravitate to, when it comes to financial literacy?
· [17:50] When did you realize that you had a passion for financial literacy?
· [19:43] How did FirstRoot get started?
· [21:05] What is the biggest challenge you've had to overcome after starting FirstRoot?
· [23:10] At its core, what does FirstRoot do?
· [28:01] What states are you now in as FirstRoot?
· [28:20] The best thing that has happened since doing the pilots.
· [29:30] How can parents get their kids involved in this FirstRoot program?
· [31:46] If you had to give parents good advice, what would it be?
· [33:00] What does FirstRoot have for the future?
· [36:03] How to contact Luke. Website, LinkedIn, Twitter
Links Mentioned:
https://www.thenewportbuzz.com/governor-mckee-signs-law-requiring-financial-literacy-education-in-high-schools/30536https://wjla.com/news/local/sisternomics-empowerment-summit-to-educate-black-women-girls-financial-literacyWebsite: www.firstroot.co Check out our website: https://raisingfinancialfreedom.com/ Like us on Twitter: https://twitter.com/RF_Freedom< - Show more
