#104 - Allowance and Beyond: Creating a Financial Education Plan for Your Kids

In this episode, we speak with Vince Shorb, the Founder and CEO of the National Financial Educators Council, about the essential topic of financial literacy for kids. Vince is on a mission to equip today's youth with the practical financial skills they need to navigate life's challenges and lead secure, fulfilling lives. Key Takeaways: Core Financial Skills: Discover the fundamental financial skills every child should learn, from earning money to managing expenses and saving. Role of Parents: Learn how parents can play a crucial role in their children's financial education, including the best age to start teaching about money. Chore Systems: Explore the benefits of implementing a comprehensive chore system that instills a strong work ethic and financial understanding from a young age. Financial Challenges: Understand the external influences that impact children's financial behaviors and how parents can counteract consumerism. Fun Financial Education: Get tips on making financial education engaging and fun, with ideas for monthly family finance meetings and interactive learning activities. Whether you want to start early with your kids' financial education or refine your approach, this episode is packed with valuable insights and practical advice. Tune in and empower your children with the knowledge they need for a financially secure future!