It’s never too early to start teaching your kids good financial habits. When you teach them how to earn, spend and save money, they’ll have a much better chance of being financially successful as adults. Here are two tips for passing on good financial wisdom:
Teach them how to earn money – It’s essential that your kids learn how to earn their own money to become financially independent. Whether they’re doing chores around the house or a part-time job, they must see the value of hard work and know what it takes to make money.
Teach them how to spend wisely – When your kids understand the value of every dollar and are taught to spend less than they make, they’ll have less debt later in life. Teaching them about compounding interest and why saving early is important will help them grow their wealth over time.
In this episode of His and Her Money Show, we are joined by Chad Willardson, the President of Pacific Capital, a fiduciary wealth advisory firm he founded in 2011 that serves entrepreneurs and families. He is the Author of the book: Smart, Not Spoiled. His bestselling first book, Stress-Free Money, has been featured in Forbes’s “21 Books To Read In 2021″ and on NBC News and Yahoo!
Chad explains how parents and families can pass good financial wisdom to kids and teenagers. He talks about the story behind the book: Smart, Not Spoiled, what made him get into helping kids learn about money, the right time to have financial conversations with your kids, the benefits of teaching your kids to earn their own money, and the power of compound interest. He also shares some tips for hiring your kids the right way. Tune in to learn more!
What You Will Learn
- What made Chad get into helping kids learn about money
- The right time to have financial conversations with your kids
- The benefits of teaching your kids to earn their own money
- Helping kids cultivate their own entrepreneurial journey
- Equipping your kids to bring their entrepreneurial ideas to life
- The benefits of investing at a young age
- Tips for hiring your kids the right way
- Chad’s approach to helping his kids become investors
- The story behind the book: Smart, Not Spoiled
Resources Mentioned:
Connect with Chad Willardson:
- Website: PACIFIC CAPITAL
- Instagram: PACIFIC CAPITAL (@pacificcapital)
- LinkedIn: Chad Willardson, CFF®, CRPC® | LinkedIn
- Facebook: PACIFIC CAPITAL | Facebook
