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What do your kids really need to know about money? We can both agree that our kids need to be taught financial literacy as part of their schooling… But what do they actually need to know and how do you make it happen?
Inside this episode, we’re talking about the 5 key things to make sure they need to know, let’s do this!
Kids Financial Course – https://aimeecerka.com/kids
Budgeting Simplified – https://aimeecerka.com/budget
Instagram – https://instagram.com/aimeecerka/
0:00 – Intro
1:53 – Episode Sponsorship
3:06 – Earning Money
4:33 – Investing
7:58 – Manage Money
8:48 – Relationship With Money
9:55 – Battlefield – Credit, Identity Protection, Mindset
11:08 – Seeing Through The Curtain
11:43 – Challenge – Which One Of These 5 Would Have Made The Most Difference For You?
Frustrated that you aren’t making the progress that you should within your finances? Create an unshakable money mindset with the Money Mindset Mastery Checklist
Teaching Kids About Money: 5 Essential Lessons
What do your kids really need to know about money? We can both agree that our kids need to be taught financial literacy as part of their schooling. But what do they actually need to know? And how do you make it happen?
Inside this episode, we’re talking about the five key things to make sure that they know.
This is the Your Money, Your Life podcast, where ambitious women come together to have clarity, prosperity and confidence with their money without sacrificing precious time. And while these are fun, so let’s do this.
Welcome to the Your Money Your Life podcast. I’m your host, Aimee Cerka. After my husband and I faced three major financial roadblocks in the last six years, I felt like I wasn’t doing all that I could and I had let my family down. It always felt like life was a struggle, like I had to work harder than everyone else, it just came easy to them.
And I didn’t feel worthy of success, until a coach helped me see the successes in our experiences instead of our failures. This allowed me to create and implement systems to grow our network by 200,000. Plus, while spending time with my loved ones and on my priorities.
Now I help motivated women create the happiness, family life, financial security, and long term wealth they deserve. If you’re ready to eliminate stress, struggle, frustration and guilt within your finances, you’re in the right place. Welcome I’m so glad you’re here.
Inside this episode, we’re talking all about your kids and money and what we should be teaching our kids about money all those things. Now I’m actually working on putting together a financial budgeting course helping you and teaching your kids about money it’s not ready yet it doesn’t even have a name. There’s going to be different levels based off of you know, age range so you know we’re not teaching the same thing that we’re teaching elementary school to high schoolers etc.
But if you want to be one of the first ones to know you want to know about like pre-sale, discounts all the information all you have to do right now is go to aimeecerka.com/kids via form there. Fill that out I’ll make sure you stay up to date when that course that program does become available.
You’ll be the first to know get the discounts all those things. Let’s get into the episode.
Earning Money: The New Perspective
Welcome back to another episode of the Your Money Your Life podcast. I’m your host, Aimee Cerka. Today we are talking about what your kids need to know when it comes to money. Right. Okay, so let’s just dive in.
The first thing that we need they need to know is like how to earn money. But this isn’t just you know, the go to school, get good grades, get a good paying job, and you’ll be set for life, right? That mantra that saying is really outdated, and honestly, it wasn’t ever really tested.
It was designed for the industrial age, we are no longer in the industrial age. It does not work anymore. There are several different ways to earn money.
And as you heard inside the episode, sponsorship like this is what we’re working on creating. We’re going to talk about the various ways on how you can earn money because the kid our kids need to know the unstoppable finances framework as well. We’re gonna help them start off with that solid financial foundation and earning money is large portion of that.
So yes, you can absolutely get a great job. And you can earn money through jobs, you can earn money through side hustles you can earn money through starting a business there are so many kids out there that have their own businesses that are making income that way, and then they need to learn about investing.
The World of Investments
There’s really gonna be like one A, but investing is something that we all need to learn about. And so many times, we have these money stories created around like I’m making number two. Okay, so the second thing that your kids need to know, is about investing.
And there’s different categories within investing. Even though you know, we have the traditional stock market, we have real estate, we have business investments you have like vending machines, you have car washes, public storage units, all of these things can be investment. And when we start training kids to learn about investments and what investing is even investing in yourself and your skills, we empower them to be that much further ahead.
And that’s really, why we talk about this. I mean, yes, we have the obligation to talk to our kids about money, and those things, but we have, okay, I’ll say me, I’m thinking you’re with me on this one. But I want to set my kids up, they’re starting off better than I was, like before, so they’re starting on my shoulders, that does not mean that I’m not looking for them to experience hardships.
And I’m not wanting them to learn the lesson. Because I do. Now, I’m not saying that it’s not gonna suck, as their parent to watch them go through that. But I know, and I’m sure you know, as well, the things that we had to struggle and the things we had to work through. That’s like, that made us who we are now.
So if I remove all the struggle and all the hardship, then how are they going to learn? We can train them. So they learn from our experiences.
And if we train them as they grow up, they can avoid some of those mistakes. And that’s the goal that we have here. So investing is the second one, what investing really is what this looks like, how that you invest, what some of these like terms are, that are thrown around, you know, IRA, Roth, Annuity, some of those terms.
Like having an understanding of what things are cryptocurrency, precious metals, all of those things. They start off and they have a foundation. Now, of course, it probably depends on your child’s age, like how in depth, you’re going with this, I’m not teaching my six year old, like, how to invest in the stock market, but we talk about investments.
And where we’re giving our money, that job, we’re investing it to be able to go make more money, we can start at that foundational level, at sixth, how much is he going to grasp at that age? I don’t really know. But when you start there, repetition is key so that by the time we’re talking about the 10 year old, he can have a very intelligent conversation about these things. Okay.
Money Management: More Than Just Budgeting
Which brings us to the third thing that our kids need to know, they need to know how to manage money. You know, most people will call this budgeting.
Budgeting is a part of your money management. But it’s not just budgeting, like there’s more to your budget. There’s more to managing your money than just a budget.
A budget is setting the intention of where you’re wanting to work, where a budget is setting the intention of where you want your money to go. But we really need to also, like, teach them how to track like after the fact and some of these habits that we talk about on a daily basis and improving our relationship with money and managing our money. Like they need to know too.
Cultivating a Healthy Relationship with Money
Which brings us to the fourth one. We need to teach them about the relationship with money. We have to they need to be aware, you know, we’re not perfect. We’re gonna mess things up.
And when we do mess things up, I own up to it, like, I hope you do as well. But I own up to the fact that like, “hey, you know what, that’s not something that I should have said“, or “that’s not something that I should have done“. I’m still working on this.
I like hope that you can see that and understand that if it’s somewhere where like, I need to ask for forgiveness, I can do that. But even it’s just the things that we’re modeling.
My kids know now if they find a coin on the ground, this is a really easy one to start with. They find money on the ground. They know that we say teaching, “Money comes to me in increasing quantities all day long.”
It might just be a penny. But you know what, they know that. And it’s still money and we’re still improving our relationship with money and understanding that it’s a tool and a tool that we use to do greater good.
Understanding the Rules of the Financial Game
And then finally, the fifth key thing. And then they need to know, these might sound similar because this is probably like the five things that we need to know like as adults, right? But they need to know the rules of the game.
This is like where the battlefield part of the unstoppable finances comes in.
And you know, protection. They need to know, like how credit works, because most of us don’t understand like how credit works, we’ll get a credit card, your first credit card, and you’re like, “well, with free money, I go spend it all.”
Yeah, no, that’s not how that worked. Right? We need to talk about that from early on what credit is actually used for. If you need it, when you need it, why you need it, yes, we do still need to have good credit.
Even though the goal for most of us is to pay cash, we need to talk about insurance. Like why it’s important to have insurance, we need to have conversations about debt, and being smart about our debt management so that they’re not waking up going. I dug myself in the hole.
And I wish that somebody taught me growing up about this.
Some of the things that we find that we say, and even just the economy and so many posts and things that I see even from adults, like we have to be intentional. With what we’re learning, we cannot just trust the media to tell us the narrative.
If you can train your children to learn how the economy functions, and why we have the things that we do, they are going to be set up so much farther for success than we could ever imagine.
So there we go. Five things that we need. Five core principles, I guess, are five areas that we need to teach our kids about money.
So I’d love to hear your challenge for today. Which one of these five do you think would have made most difference for you or that you’ve started teaching your children about so that they’re set up for financial success? Send me a message on Instagram @aimeecerka. I can’t wait to hear from you. We’ll see you next week. Bye for now.
Thank you so much for listening to the Your Money Your Life podcast. Wondering what’s next? When you’re ready, there are different levels of support that you can use on the path to creating unstoppable finances and your unstoppable life.
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