How to Talk to Kids About Money


Manage episode 275345116 series 2798570
By Adam Cmejla. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

The concept of talking to kids about money can be both a taboo and ambiguous process. For optometrists that own their own practice, there’s an added variable of owning your own practice and using it as a vehicle to not only be in a position of paying your kids but also the generational wealth that can be created by you.

In this episode I’ll share a number of ideas and tools to consider when teaching your kids from an early age about money. I’ll share what age you should start talking to kids about money, the importance of using an example-based teaching approach, the three-bucket approach, and an example of how we’re doing this in our family with our daughter.

If you’re interested in having your question and your voice featured on the 20/20 Money podcast, you can submit it here. You can either include your name or submit anonymously. Please keep your questions short and to the point. Sometimes writing it down beforehand can help.

As a reminder, you can get all the information discussed in today’s conversation or check out any number of additional free resources like our eBooks and on-demand webinars by visiting our website at and clicking on the Learning Center. You can also visit this page to set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions.

Talking to Kids About Money – Child Mind Institute

Teaching Kids About Money (Dave Ramsey)

Financial Peace Jr (Kids Money Kit from Dave Ramsey)

————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Play Stitcher —————————————————————————————

For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

121 episodes