Today’s Smart Money Question:
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Here Are Just A Handful Of Things You’ll Learn:
You’ve spent years and years understanding how to be smart with your money by saving and investing, but how many mistakes have you made along the way? Would you have benefited from learning these lessons earlier in life?
Chances are we all would have made better decisions in 20s and 30s if we made our mistakes much earlier in life when less was at risk. There is a program out there now that is trying to instill these smart-money lessons in children beginning as early as two-years-old.
John Lanza created The Money Mammals, which is a program that empowers children by teaching them the value of money. It also helps them understand that there’s more to money than spending. Kids also learn about sharing and saving as well. John also wrote the book The Art of Allowance, a guide to raising money-smart and money-empowered children.
We wanted to bring him on Smart Money Questions to discuss his program and get an overview of what he wants children to learn. We cover a lot along the way, from how he came up with the idea to how early children can learn about money to managing an allowance. This is a great primer to his book and his Money Mammals kit and will help you get the basics to helping your child learn the value of money.
This is a great conversation for parents of any age so please share this link and this episode to any family or friends that you think might be interested. Lessons about money often get overlooked in our children’s curriculum so this might help fill some of that gap.
Check out the show and utilize the timestamps below to skip ahead to a specific topic in the show.
0:29 – Introducing today’s guest, John Lanza.
1:10 – Give us the background on how you got this all started.
3:31 – How young can children be to start learning these smart money basics.
5:12 – Has the teaching process changed at all as we move further and further away from physical money?
6:57 – It’s important to children to see the transaction happen with the money in your hand so they can see that money has to go in.
7:38 – At what age should an allowance start and does it still need to be tied to something like chores?
11:53 – At what point do you want the budgeting lesson to begin?
15:27 – How does the conversation go in regards to the sharing side of money?
17:50 – Do you talk about how giving actually makes you a happier person?
20:18 – Sharing and giving is an important lesson to learn early on.
22:10 – What’s your relationship with credit unions?
25:21 – How to find this program Money Mammals.
26:17 – John also has a podcast.
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