CASH KID

Did you know teens like you are cashing in on creative side hustles and making serious money? And no, we’re not talking about boring chores or allowance! Stay tuned to learn how you can turn your skills into cash without waiting to grow up!

That’s right! You don’t have to wait until you're an adult to have cash flow coming in—whether it's for a new game, saving for something special, or even just making some extra pocket money.

But, the big question is, how do you actually start?

Don’t worry—I’m here to break it down step by step. From coming up with your big idea, to setting goals, to selling your product and managing your money like a pro.

Now before we go any further, be sure to hit that subscribe or follow button from wherever you are listening to the Cash Kid Podcast to help us continue to grow the most savviest financially generation ever!

Alright, let’s get started!

Number 1: Create the Idea – Find Your Hustle

Alright, first things first: You need an idea. But how do you come up with one?

Think about what you enjoy doing.

Are you the go-to math whiz in class? Maybe tutoring younger kids is your hustle. Or, are you great at making TikTok videos? You could teach other teens how to create engaging content!

Or maybe you’ve got a creative side and love making jewelry, art, or even baking. These are all awesome places to start!

Here’s a little secret: You don’t have to invent something brand new to start a side hustle. Sometimes, the best ideas come from things you already enjoy or skills you’ve already got.

Ask yourself these questions:

The key here is to choose something that excites you because it’s going to take some time and effort, and you’ll want to enjoy the process!

For example, just two episodes ago, we spotlighted teen entrepreneur Sadie Norris who runs who own baking business. She loves baking and turned something she already enjoyed doing as a way to make some extra cash as a teen.

Number 2: Discover and Learn Skills in Your Chosen Area

Ok, so now you’ve got your idea— let’s now become an expert at it!

For any side hustle, you need to build your skills so you can do a good job. Yes, people may still pay you if you are a cute kid and they feel sorry for you… but we want to get great at our craft.

The good news is that you’re never too young to learn, and there are so many free resources out there! Like YouTube for example which is where I’ve gone to learn a lot about running this podcast.

If you’re offering a service, like babysitting or dog walking, you can check out YouTube tutorials, or even ask your parents or friends who have experience.

For creative businesses, like making jewelry or crafts, there are hundreds of online courses, guides, and even communities that will help you learn more.

Maybe you want to start an online store—well, learning how to take great photos of your products, write catchy descriptions, or marketing yourself on Instagram is key.

And guess what? There are tons of free online courses and videos to teach you how to do just that.

Never be afraid to ask for help, and don’t rush the learning process. The more you know, the better your hustle will be.

Number 3: Start Your Business Plan – Make it Real

Now that you have an idea and some skills under your belt, it’s time to create a plan. Don’t worry—this isn’t some boring school assignment. Think of it as your roadmap to success.

Here’s a simple business plan for you to follow:

Once you’ve got your plan in place, it’s time to take action.

Number 4: Get  What You Need – Make Your Product or Offer the Service

So, now it’s time to gather everything you need to actually launch your hustle.

Whether it’s buying supplies for crafting or setting up your website to sell stuff online, get ready to put things in motion!

If you’re making products, make sure to make a few prototypes first.

Are they high quality?

Are they something people would want to buy?

Test them out on family and friends to see what they think!

If you’re offering a service, maybe offer a few free gigs or discounted sessions to build your reputation and get some reviews. Word of mouth is your best friend.

Number 5: Find Customers or List Your Product – Get the Word Out!

Now that you’ve got your product or service ready to go, it’s time to find customers.

This is the fun part—marketing!

First, start with people you know.

Tell your friends, family, and neighbors what you're offering. Word of mouth can be powerful. You can also use social media (with your parents’ permission) to spread the word about your side hustle.

A lot of the kids and teens whose stories we have shared here on the podcast about their side hustles have noted how their parents use their Facebook or Instagram to help promote their kid’s business. It’s actually how we find most of our guests or fellow Cash Kids to interview on the show. When it’s coming from a parent’s account, it gives a level or trust right away. So, the marketing tactic seems to work!

Share photos, testimonials, or even a behind-the-scenes look at how your product is made.

If you’re selling a physical product, you might want to list it on websites like Etsy, Depop, or eBay. If you’re offering a service, like tutoring or dog walking, post flyers in your local area or on community message boards online. Also, talk with your teachers at school and let them know you are offering a tutoring service. Many times they keep a running list to share with parents when they ask for tutoring services.

The goal is to get your name out there and start attracting customers!

Number 6: Start Selling and Making Money

Okay, now you’re officially in business!

It’s time to make your first sale.

Remember, in the beginning, it might be a little slow.

That’s totally normal! The more you work at it, the more you’ll improve your skills and build your reputation. You might even want to offer a special discount for your first few customers, just to get things going.

The most important thing? Keep hustling and stay consistent. The money won’t always come overnight, but if you keep providing value and doing a great job, you’ll build up a steady flow of cash.

Like my friend Eli who runs his own car detailing business. He started out just doing family and neighbors cars to now having enough business at age 17 that he has employees working for him to handle all his orders.

Number 7: Expand, Save, and Invest – The Next Step

Once you’ve started making money, it’s time to think about the next steps.

You could reinvest your profits to make your side hustle even better! Maybe buy better equipment, or spend money on advertising to reach more people.

And don’t forget to save! Set aside a portion of your earnings in a savings account.

You could even think about investing your money if you’re old enough to open an account. But remember, the key is to save and grow your money!

Lastly, if your side hustle is doing well, you can start thinking about expanding—maybe turning your hustle into a bigger business. But that’s a story for another episode!

Conclusion:

Alright, Cash Kids, that’s all for today’s episode! Starting a side hustle as a teen is a great way to make money, learn new skills, and set yourself up for a financially successful future.

Whether you’re selling handmade items, offering services, or starting a digital business, the possibilities are endless. And remember, the key is to have fun, stay motivated, and always think about how you can improve.

Thanks for tuning in to the Cash Kid Podcast! Don’t forget to share this episode with your friends and subscribe so you never miss an exciting new episode.

Remember, anyone can be a Cash Kid, you just have to learn how to become one.

Cash Kid, Out!

Disclaimer:

The information presented represents the views and opinions of the guest. This podcast is for informational and educational purposes only. It does not provide personal investment advice. Speak with a financial advisor—and for kids, definitely your parents—before making any investment decisions.

S3E5 How to Start Babysitting as a Teen:

Make Money and Build Responsibility.

Cash Kid: [00:00:00] Welcome to the Cash Kid Podcast, where we highlight young entrepreneurs who are finding creative ways to earn, save, and invest money early in life. Today we are featuring another awesome teen who's balancing it all, school, babysitting, and even carpool pickups to make some extra money on the side. If you aren't already, be sure to follow us on Instagram, Facebook, and YouTube @ Cash Kid Podcast.

Cash Kid: And sign up for a mailing list if you haven't already. Now, this student is proving that you can take on responsibility, help out your community, and learn valuable life skills while still being a student. Whether she's babysitting kids after school, or helping out with carpool runs, she's finding smart ways to bring in cash, while managing her busy schedule.

Cash Kid: In this episode, we'll dive into her story, how she got started, and what it takes to balance work and school life. So let's jump in and meet today's Cash Kid. Kennedy Teal, welcome to the show. And first off, Kennedy, tell us a little bit about yourself. Hey

Kennedy Teal: Cash Kid, it is so great to be on. [00:01:00] Thanks so much for asking me.

Kennedy Teal: Um, so yeah, I'm Kennedy. I'm a junior college student at Sanford University and I come from Johnson City, Tennessee, which I've loved, but I also love Birmingham. It's been an awesome home and yeah, I'm studying interior design and I love babysitting since the very beginning of like my preteen years. So thanks so much for asking all these questions.

Cash Kid: Yeah. So, um, what really inspired you to start babysitting and offering, like, carpool pickups? Was it something like you've always wanted to do, or did the opportunity just, like, come up unexpectedly?

Kennedy Teal: So, a little bit about myself some more is that I'm an oldest of six kids. So, I've kind of just always been around kids. I've been used to, like, kids. I've been babysitting since I was probably nine for my siblings, so I've just kind of been in that role forever, and I've also loved it, and it's come a little bit naturally to me. So, I think probably when I was around 14 years old, I started just babysitting for my community, and for my church, and for small groups, and [00:02:00] stuff like that.

Kennedy Teal: So, like, little jobs. Like, small groups that I didn't have to drive towards, but I was still, like, hanging out with kids and stuff like that. Um, so yeah, it was something that I've always kind of been infused with since I was younger. Um, but yeah, I loved it.

Cash Kid: That's amazing and how, like, you kind of, like, was something that you went to and then you turned what skills you have into a way to make money. That's kind of like all that we're talking about on the Cash Kid Podcast. So how do you balance school babysitting and carpool duties? Like what is a typical day or week look like for you?

Kennedy Teal: Yeah, good question because it can be a lot. But gladly, my work, my school schedule works very well with me. Um, so my typical week kind of looks like my Monday, Wednesday, Friday.

Kennedy Teal: I have class from like 8 to 3:30. So most of those days I am in class all day. Um, occasionally I will do some pickups after those 3:30 classes. So, if like someone needs to go to tennis or horseback riding or something like that. I do pick up a few of those shifts in the later [00:03:00] afternoon.

Kennedy Teal: Um, but Tuesdays and Thursdays are my main days that I just go from like probably 8 until 6 or sometimes even 9. Um, so yeah, I've roped off those days so that I can just fully like, Um, not all of those hours are used every week because my weeks kind of look different each week. Um, so sometimes Thursday mornings, I won't babysit, so I'll be able to like go to a coffee shop and do some homework.

Kennedy Teal: Um, or like in the evenings, I'm not used as late, so then I can get some homework in as well. So, it's a balance for sure, but just trying to figure out what works well for me. And since I have been doing this for a while, I kind of know my limits and my balance and what works for me. So, yeah.

Cash Kid: Yeah, I totally agree with that. It's just like time management, it’s such a big and important factor whenever you're starting a business or a side hustle. So, what has been the most challenging part of juggling all your responsibilities? How do you handle it when things get overwhelming?

Kennedy Teal: Yeah, that's a great question because I don't even know if I do handle it very [00:04:00] well.

Kennedy Teal: Um, but I think since I'm just used to this, like it's something that just is so second hand. So, it's so natural, um, that I don't even kind of blink twice about it. Like I've been balancing this. Since high school, so high school, I had a block schedule as well. So, I went from eight to three and then I would go babysit in the afternoons.

Kennedy Teal: So it's something that's kind of just routine and I have gotten used to it and I've learned kind of my balance of like what, how much schoolwork I need to commit to the project or what I need to do for this or that. Um, so it definitely is challenging, but I think just kind of knowing myself and my limitations.

Kennedy Teal: Um, but I also would say babysitting is an awesome job because it is so flexible and it doesn't ever feel like work to me. So, like that is such a big blessing that like I get to go to work after a long day of classes, but it doesn't feel like it. Like I get to go hang out with kids or I get to go drive them to their sports or whatsoever. So it feels like it's very manageable and I can balance it because it's not a crazy strenuous job, you know what I mean?

Cash Kid: [00:05:00] So what skills do you think you've gained from babysitting and doing carpool pickups? Have you learned like anything that will help you later in life?

Kennedy Teal: Absolutely. I've learned multitasking. I've learned responsibility. I've learned patience. I've learned Leadership, I've learned how to address adults and have those conversations. I've learned how to you know, like figure out kids and how to address them if they're like having a meltdown in a park, you know. Just some things like that, um, that are great social skills for me.

Kennedy Teal: Um, so yeah, I think I've been able to like have those experiences that help me very well and I think that those are all going to just grow me as a person as an adult as a mom as Um, a business woman, like if that's something that's in my future. Um, so I think all of those are very beneficial attributes.

Cash Kid: Yeah, I totally agree with that. The more skills you can make as a kid, the easier your life will be. So, what do you do with the money [00:06:00] you earn? Are you saving it, spending it on something special, or maybe even investing it?

Kennedy Teal: Yeah, great question. For me, my weeks do look a little bit different with babysitting. My hours do vary, um, which is something that I don't mind at all. I kind of do like the flexibility. I like that that each week is different, that I don't have a schedule. start and end time that it's kind of changing, um, it makes each week kind of seem different and interesting. So, with that being said, my money and my income does fluctuate each week.

Kennedy Teal: So, it's taught me how to be very responsible and very planned with how I spend my money. So, it is something that I do have to look at kind of at the end of the month and kind of see what I'm like making on an average and how I can spend that wisely, how much I need to save, how much I need to give. And then what do I have left to spend on coffee and some new earrings, you know?

Kennedy Teal: So, there's definitely a balance. Um, but it has taught me a lot of responsibility and being [00:07:00] very, um, cautious with how I spend my money because it's not a set income.

Cash Kid: Yeah, um, so babysitting and carpooling requires a lot of trust from parents. How did you build that trust with families, and what advice would you give to other teens who want to start similar jobs?

Kennedy Teal: Yeah, absolutely. I think what helped me in the very, very beginning was I started taking on jobs that were around the parents. So, like, babysitting at a small group. So, like, they would drop their kids off in the basement and I would play with them. They would come and check in on them. So, they were seeing how I was interacting with their kids, engaging, keeping them safe being in a very calm and peaceful kind of mindset for them. Um, and I think that grew my credibility. So those parents could see that I was trustworthy and responsible with their kids in a kind of safe environment with them near. And so, since kind of, since I was 14, I kind of just grew and grew and grew with how my relationships with those parents.

Kennedy Teal: Um, and then that just led to references. So, like, people would pass [00:08:00] my name on to this person and this person. So, it just kind of like grew my credibility. Um, since starting in such a small spot. Um, but yeah, it's grown and now I'm a junior in college and have awesome families and, and awesome references because they are just, they are so awesome to me.

Kennedy Teal: Um, so yeah, it's something that is Kind of weird to work through of like, how do I even get started? How do people trust me? But I think it also is something about like you feeling confident about how you are and how you enter a room and how you interact with the kids. It really is all about the kids. That's kind of the only thing the parents are looking at is how you engage them how you get on their level. It’s like liking what they like.

Kennedy Teal: So, like my little girl that I babysat she loves to get, uh, Dutch braids in her hair. So, like, the first day I came and started, she was like, Do you know how to braid hair? And I was like, well, of course. So, like, we immediately, like, got on the ground, and I started, like, braiding her hair. Um, so just things like that I think parents are looking for, and I think that builds a lot of trust [00:09:00] in their hearts when they see that you're engaging, and you get on their level, and you're not, like, better than them or whatever.

Cash Kid: So, do you see yourself continuing with like these jobs in the future? Or do you have like a different business idea or like career in mind as you grow older?

Kennedy Teal: Yeah, I definitely see myself finishing out college babysitting because it is something that I just truly love. And I hate that I do feel like I see an end mark in this kind of chapter in this career.

Just because I will probably have um, a career in interior design when I graduate. Um, so that doesn't mean that I have to give up all of my babysitting job. I'm sure I'll do some date nights here and there and free time on the weekends. Um, but I do see kind of my career and my day to day shifting once I graduate. Um, so that is something sad, but, um, I've also loved it and it's not going anywhere. Like, you know, I'm still around, so.

Cash Kid: Do you ever find it hard to like keep up with schoolwork or have you found ways to stay organized?

Kennedy Teal: I [00:10:00] definitely love my planner. That is what keeps me very, very organized. Kind of at the beginning of the week, my families are awesome to send me dates. Um, and because my schedule is a little crazy and cramped, I'm really blessed to have people sending me dates like in a month in advance. Okay. So, I can kind of just schedule in things very far in advance so that when my week comes I know what's on the list. I know how to prep for that Um, and then I also know my class schedule and I know my other responsibilities outside of school and babysitting so definitely invest in a planner get all your dates set up.

Kennedy Teal: Um, and then, yeah, the biggest thing is if you can get your families to give you heads up for in a far in advance, that is very, very helpful with staying organized and not getting overwhelmed with school because you know what the next and next, next week's look like. So.

Cash Kid: Yeah, so what advice would you give to other teens who are thinking about starting their own small business or side hustle, like babysitting or carpooling?

Kennedy Teal: Great question. [00:11:00] I would say start it. If you love babysitting, if you love doing your little niche, just, just go for it. It's all about confidence. Um, it's all kind of about people. Like, if you're good with people, if you can talk to a person like you're doing right now, like, you can start anything. Um, so yeah, I would say confidence, grace, patience is all very key.

Kennedy Teal: Um, but anyone can do anything, and babysitting is such an awesome gig. And I would encourage anyone to go ahead and just start. Plunge, get your name out there. There's amazing Facebook groups out there that you can join to like get into these Facebook clubs that help you, um, you can put your name out there and people can reach out to you or you can reach out to other people.

Kennedy Teal: Um, and then yeah, I think there's some awesome apps too, but my favorite thing is just referrals. So, like getting that one family will literally give you the rest of the referrals that will get you through the, the rest of your career. So yeah.

Cash Kid: Like whenever you're trying to start a business, just go for it. Because even if it [00:12:00] fails, you have mistakes that you know, that you won't make next time. And if it goes well, then you have skills that you know how to use and apply to your day-to-day life. Yes. Um, so Kennedy, is there anything that we haven’t asked you that you'd like to share?

Kennedy Teal: Oh goodness. I think you've done great I feel like you've hit all the points and I've been able to like show babysitting such a great light So yeah, thank you.

Cash Kid: Kennedy. We appreciate your time and your expertise Thank you for joining us on the Cash Kid Podcast and boosting the financial knowledge of fellow cash kids everywhere And remember anyone can be a cash kid. You just have to learn how to become one. Cash kid, out!

A Teen Entrepreneur’s Baking Business: HOW A TEEN BALANCES SCHOOL & A BAKING BUSINESS

00:00:00:00 – Intro

Be sure to follow us on Instagram, Facebook, and YouTube @CashKidPodcast or sign up for our mailing list at CashKidPodcast.com.

00:00:27:18 – Introducing the Guest

Stick around to hear how she’s doing it, the challenges she’s faced, and why we consider her a true Cash Kid.

00:01:45:03 – Guest Introduction

00:01:54:16 – First Question

00:02:07:10 – Sadie’s Baking Journey

00:02:18:22 – When Did You Start Baking?

00:02:32:11 – Selling Online

00:02:47:16 – Shipping

00:03:01:20 – Why Start a Baking Business?

00:03:23:01 – Other Ways of Making Money

00:03:38:14 – Finding Clients

00:04:04:23 – Feeling of Earning Your Own Money

00:04:22:07 – Saving vs. Spending

00:05:08:03 – Advice for Young Entrepreneurs

00:05:21:08 – Balancing School and Business

00:05:47:06 – Lessons Learned from Running a Business

00:06:10:07 – Time Commitment for Sourdough Baking

00:06:52:08 – Best-Selling Items

00:07:05:17 – How to Place an Order

00:07:41:01 – Clarifying Pickup and Delivery

00:08:04:18 – Pricing

00:08:22:22 – Expanding the Business

00:08:45:05 – Baking Mishaps

00:09:19:26 – Friends’ Reactions

00:09:45:09 – Conclusion

00:10:04:10 – Disclaimer

What's up, Cash Kids? Welcome back to the Cash Kid Podcast, where we highlight young entrepreneurs learning how to earn, save, and invest at an early age. We're continuing our special series on kids with a serious entrepreneurial mindset, and today’s guest is a great example of that.

**Host:**  

If you aren't already, be sure to follow us on Instagram, Facebook, and YouTube @cashkidpodcast or sign up for our mailing list at [cashkidpodcast.com](https://www.cashkidpodcast.com).

**Host:**  

Our guest today is a high school sophomore who’s not only super involved in his community but also runs his own tutoring business. Balancing academics, extracurriculars, and a business, this young entrepreneur is making moves to set himself up for financial success. We’re excited to dive into his story and learn how he's managing it all while gaining valuable skills that will serve him for years to come. Stay tuned as we talk about how he’s helping others while building his own path to success, truly embodying the spirit of a “Cash Kid.”

**Host:**  

“So, you've got some cash? Maybe from allowance or that money your grandma gave you for your seventh birthday. Whatever it is, what are you going to do with it? Spend it? Hide it away? Or maybe invest it? Let’s start learning how to make that money grow. Time to learn how to be a Cash Kid.”

**Host:**  

Joining us today is Matthew Farmer, a sophomore in high school who runs his own tutoring business. Welcome to the show, Matthew! First off, tell us a little bit about yourself.

**Matthew:**  

Hi! Yeah, it’s great to be here. My name is Matthew. I am the secretary for Model UN, I have my own tutoring business called Matthew’s Tutoring, and I’m in several other clubs. I do cybersecurity on the side and I’m part of a club called Educators Rising, where we do volunteer work. That’s all about me!

**Host:**  

That’s amazing! So tell us, what are your thoughts on kids using their talents to make money?

**Matthew:**  

I think it’s really important that kids use what they already know to make money. I felt like tutoring was a solid thing for me to do because I knew what was being taught in class and could help kids who were struggling. I thought, why not make a little bit of money off of it? It’s been going really well. I think it’s important for kids to do that because it teaches maturity, responsibility, and how to handle their money better.

**Host:**  

I definitely agree! There’s always someone with a skill who can help others. So, what gave you the idea to start tutoring?

**Matthew:**  

It’s actually a funny story! Someone from the school reached out to me to tutor as a volunteer, and I did it for a couple of months for free. I had a lot of students, and it got to the point where I was spending my own money on notebooks, markers, and supplies. I realized, with all the time and effort I was putting in, I should turn it into my own business because I found out I was really good at it.

**Host:**  

That’s great! So, how do you get clients or find students to tutor?

**Matthew:**  

I mainly advertise on Facebook, and I have a Google business account. If you search for tutoring in my area, I pop up in the search results. Occasionally, I go door to door, but I don’t do that too often.

**Host:**  

How do you manage your time with tutoring and being a full-time student?

**Matthew:**  

I plan everything out using Google Calendar. I set aside time after school for tutoring, and if I’m doing something else, I have people who work for me who can take on students. That way, I can still have time for myself.

**Host:**  

What subjects do you typically tutor?

**Matthew:**  

We tutor in a variety of subjects because we have different tutors who specialize in different areas. I like to focus on math and science, but we also tutor in subjects like Spanish, world history, and area studies. We offer a wide variety of subjects.

**Host:**  

What have you learned from being a tutor, and how has the money you’ve earned helped you?

**Matthew:**  

The money I’ve earned has helped me a lot. I’ve been able to save up to buy a car since I’m 15 and will get my learner’s permit soon. It’s nice to be able to buy things for myself and even buy gifts for my family. I also save and invest my money, which is really important.

**Host:**  

That’s awesome! You mentioned you have employees. How did you get your first one?

**Matthew:**  

I reached out to one of my friends who didn’t have a job or only worked a little bit. I knew they were really good at math, so I asked if they’d like to work for me. It’s better than a regular job because I pay more than what McDonald’s pays, and the hours are flexible, which is great for students who do sports or have other commitments.

**Host:**  

Have you worked other jobs as a student?

**Matthew:**  

Yes, I’ve worked at McDonald’s for about a year and a half as a crew trainer. It’s been a good experience, and I might try to become a manager when I turn 16.

**Host:**  

What challenges do kids and teens face when trying to find jobs?

**Matthew:**  

It depends on what each job offers. When I was looking for a job, I made a presentation to my parents comparing the benefits and downsides of different places. McDonald’s worked out for me because it was flexible, and they needed more people, while other places like Culver’s already had a lot of staff.

**Host:**  

That’s a great way to approach it! What advice can you give to kids or teens thinking about starting a side hustle or business while in school?

**Matthew:**  

Go for it! Take a risk. Even if it doesn’t work out, you tried, and you can always try again. You’ll never know if you can succeed unless you step out of your comfort zone.

**Host:**  

Exactly! Trying something gives you valuable experience, even if it doesn’t work out. Have you ever wished there was a class in school that taught more about financial skills?

**Matthew:**  

Actually, I’m taking business classes in high school, like marketing and accounting. Next year, I’ll take sports and media marketing, and I’ll be eligible for dual credits at my local college. My school covers the cost, which is great.

**Host:**  

Matthew, we appreciate your time and expertise. Thank you for joining us on the Cash Kid Podcast and boosting the financial knowledge of fellow Cash Kids everywhere. And remember, anyone can be a Cash Kid—you just have to learn how to become one. Cash Kid, out!

**Disclaimer:**  

The information presented represents the views and opinions of the guest. This podcast does not intend to provide personal investment advice. This content is for informational and educational purposes only. To make a full and informed investment decision, we advise you to speak with a financial advisor—and for kids, definitely talk to your parents first before investing

A university that teaches you how to become a millionaire?

What?! Our guest on the show will explain, coming up.

So, you've got some cash. Maybe from an allowance, or that money your grandma gave you for your 7th birthday. Here you go, sweetie. Woohoo! Thanks, Grandma! Whatever it is, what are you going to do with it? Spend it, hide it away, or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a cash kid.

Welcome back to another episode of the Cash Kid Podcast. I'm so pumped about today's guest on the show. They might have only agreed to come on the show because I'm a kid. And how can you say no to a little kid? But whatever it is, I'll take it. Don't forget, if you aren't already, to follow us on Instagram, YouTube and Facebook.

We love interacting with our audience on these platforms. And [00:01:00] be sure to subscribe to our podcast and leave a review from wherever you're listening. Joining me on the show today is Justin and Taro Williams from the Millionaire University Podcast. Their motto is, graduate rich, not broke. I'm hooked just from that.

Millionaire University believes that anyone can start and grow a successful business. It's your school for wealth creation and on their show they interview experts from numerous industries to help you start and grow a successful business. Mr. and Mrs. Williams, welcome to the show and first off, tell us a little bit about yourself and your business background.

Woohoo! That was horrible, let me do that again. Woohoo! Yeah! That's better. I was like, wow! Man, Cash Kid, we are pumped to be here. I came across your podcast, like Few weeks ago and I couldn't stop listening. I was hooked. I love what you're doing. Uh, yeah, I'm going to have, we're going to have our kids listen to it.

So thank you so much for everything that you're sharing with everyone. First of all, we've learned a lot from listening to you. So thank [00:02:00] you. You're welcome. And thanks for having your podcast for me to listen to.

So go ahead. Perid, do you want to kick it off and share a little more about, about us and our background? Yeah, I'll give you a little bit of our personal background. So Justin and I, we just celebrated our 20th year anniversary. We got three kids. So we have an 18 year old boy, 16 year old daughter, 14 Uh, we live in California, San Diego area, and we have been running businesses together for about 20 years.

20 years! Can you believe that she's been able to handle me for that long? I'm a lucky lady. I have an awesome husband. Oh, I'm blessing. But yeah, we've had some ups and downs. And if you kind of want to share a little bit more of our business background. Yeah. So I've wanted to have a business my entire life.

I just didn't know a whole lot about business, but when I was young, your age, or even younger, I would go to Costco and buy candy and try to sell it. And, um, this is a little, I'm not sure if you're supposed to do this, but my mom would [00:03:00] buy the, like candy bars when we were, you guys today, you just like send out a text and we give you money for your fundraisers at school.

But when I was younger, I would sell like candy bars at grocery stores. So my mom would buy the candy bars. As if we were doing like a fundraiser, we'll go sell the candy bars. And, um, we were doing all kinds of stuff. I would raise lovebirds and animals and hand feed them and sell them. So I was always just trying to figure out how I could make money, but I always want to have a business, but they didn't really know a whole lot about business.

But my parents were in lots of like multi level marketing things, and they never really made a lot of money in those, but I went to like some events and. Some things that kind of got in my head. Um, when I was in high school, I read a book called Rich Dad, Poor Dad. And that really helped me kind of like change the way I thought about about money and business.

So I always knew I wanted to have a business. I always knew I wanted to invest. I always knew I wanted to create wealth and be able to do cool things in my life. [00:04:00] So, um, fast forward, went to college, uh, went to Brigham Young University and had a football scholarship. And that's where I met Tara. And so we met and we ended up getting married and I told her like, I hurt my shoulder and I knew I wasn't going to play football anymore and I knew I wanted to start a business.

And at the time I was selling satellite dishes door to door. And after doing research, I was like, Hey, I think we can make like three times as much money if we start our own business doing this instead of doing it for this other company. So I got paired a quitter job as a third grade teacher. And we went for it.

And we were pumped. We're going to make a million dollars within a year. And what do you think happened within a year? It didn't go as planned. It did not go as planned. At first, it was going pretty well when I was just selling on my own. Yeah, like, yeah, I was making more money because I was getting paid more, but there's a lot of, um, inventory we had to get and stuff.

It [00:05:00] was okay. But then we're like, hey, we're gonna get an office and we're gonna hire, uh, get up, take a partner and hire some managers to help recruit guys that can go sell in the summer. And I was running the numbers and it all looked amazing. So it's like, it's okay for spending money. We're gonna make a ton of money this summer.

But the managers didn't recruit. Our partner slept in till 1130 every day, the bills kept coming. The phone system was way more than we thought. And all this stuff kept happening. So the money kept going out, but not enough was coming in. And then the summer was getting closer and we're like. We're not going to have a program.

We ran up the numbers. We're like, we have 120, 000 of debt. We can't borrow money, putting money on credit cards and a brand new baby. And we had a baby. And so we're like, Oh, shoot. We got it. So we, we left the office, sold all the things that we had bought. I remember about like all this furniture and stuff that we did not need.

And it seemed fun at the time, but we sold the, uh, we, we got, uh, we broke the lease. We, I think we had to [00:06:00] pay a little bit of money. We, and we moved to Bakersfield, California, where we lived in a small room with a bunch of other people, our brothers and people who are working for us. And our son slept in the closet and I would go out every day in the 110 degree heat of Bakersfield and sell satellite dish and just worked so hard.

And I was like, this is not what I envisioned being a business owner. So tell us more about Millionaire University and um, like why did the podcast start? Go ahead, Tara. Well, Millionaire University, so, you know, a little bit more about our background is we, Bought and sold houses and we educated people on how to sell houses and we ran, you know, we had multiple businesses and then there came a point where we sold one of our businesses and we had some good investments and we had a lot of free time on our hands and we traveled, we'd all kinds of different things.

And then we got bored and we were like, what are we going to do? We had retired at a young age. We have all the things we want. We made all the money we want. We have [00:07:00] more money that we're making passively each month than we spend. We did it. So we went through those hard things and then we had financial success, but then we were bored like human beings.

We need to progress. We have something inside of us just wants to grow and we want to go and we want to do things. And so there came a point where we were kind of bored. And as you can tell, Justin is a natural born entrepreneur. Like he just loves it. I am not a natural born entrepreneur, but I'm a hard worker.

And so I had to learn it on my own and obviously with Justin's help and just with life experience, but I'm smart and I can do lots of different things and I have a good eye for things. And so he and I have been a good team, but he just has this passion in him to teach people about business. And we wanted to create something that our kids could listen to and that would really help them.

And that would help other people save on some of the mistakes that we made to give them lots of information, education, really valuable episodes that give them a ton of ideas and tips so that they could also start a business and have more freedom because [00:08:00] it has created a great life for us. We've done lots of really cool things and it's caused us to grow a lot.

And so Millionaire University is the resource we wanted when we started a business. So it's kind of like you've mentioned cash kid. I know, um, you're a big believer in, like, education is important, but you also feel like it could be improved, right? Teach a lot about money, how to make money, how to start a business.

And so I was just so confused. And as our kids are getting older and getting ready. To for that age where are they going to go into college? Are they going to start a career? What, like, what are they going to do? They want to start a business, but we're like, there needs to be a resource. Like too bad.

College or school doesn't teach you more about starting a business. And so we were like, I kept complaining about it. And one day, like we're bored, we're not doing a whole lot. And we're like, why don't we do that? That's what entrepreneurs do. That's what business owners do. They think they see a problem and they're like, well, I'm going to go.

Solve that problem, come with a solution for it. [00:09:00] So that's what Millionaire University is, is kind of a, the solution to, to that, that problem that, that we felt like was out there. So, yeah, I totally agree. Our, our podcast is to help the solution of like, not as much financial literacy in schools. We want to help give that to kids who really aren't given the chance to learn much.

Like my entire six track year this year, we had five minutes. In the first section of our social studies class to do a stock market game while we're going through the great depression in our social studies. That was the one time that we had it and it was for a nine week period. It was the first five minutes one time on Monday.

So really we had 45 minutes of financial education the entire school year. And so it's really not enough because by the time you get out and into the real world, you're going to have taxes and stuff. And no one's ever taught you how to do that. So. That's kind of the mission here. I love it. Amen. Yeah. So, [00:10:00] uh, tell us about some experiences you've had running your own business, the ups and downs and all the failures that got you to where you are today.

There's been a lot. How long is this podcast? We've had many ups and downs, many successes, um, and many failures. But that's what's amazing about running a business is, you know, you go to school and you show up, like you said, and, and the teachers and we're grateful for school, you know, teaches you habits and how to make deadlines, how to be organized, how to be social.

There's so many good things. And that's a really important phase of life to learn those things. But then there comes a time where certain individuals decide they want to start their own business. And you don't have anybody who wakes up in the morning and says, get up, do this. This is how you make money today.

Nobody's telling you that. So who has to tell you that just you, you're your own boss. And so you go from people saying, turn this assignment in exactly this day to this time to, and you're just, you're just doing [00:11:00] what everybody tells you to do to where all of a sudden you're your own boss. And there's.

It's epic that your own boss and it's also really scary sometimes because you're like, what do I do? How do I handle this? And so we've had to learn to be our own bosses, how to handle problems that come our way because that's what business owners do. They solve problems every single day and how to solve problems and also be able to make money and take care of our family.

And so it's been a journey. I think it's kind of interesting. If you look at college and the education system, people will spend Thousands, tens of thousands of dollars to go to this place for four to eight years to have someone else tell them what to do, where to go and all these things. And it's like, if you can take that same.

Thought process, but apply it to business because what happens with business is when things don't go perfectly. A lot of times people like, Oh, I fell like, cause I didn't make a ton of money right away. It didn't work out. But if you can have the thought process of I'm doing things that I believe will lead me towards [00:12:00] creating a financial wealth and financial freedom, but if it doesn't go perfectly, then you look at it as, Oh, I'm learning, this is an education.

And you won't look at it as a failure because no one finishes college after four years, even though they didn't make money and they spent money and end up in debt. And they're like, I failed, you know, they know, like, no, like I accomplished something. So I think if we can shift our mindset when we're starting a business and growing a business and know that there are going to be struggles and failures along the way, but that's just a part of the process.

Um, Who was it? Who? It took like a thousand times to Benjamin Benjamin Franklin. Yeah, maybe I should go back to school, um, to, to discover electricity anyway, but it wasn't like he failed. He was just figuring out ways that it didn't work. Cause then he would know the way that it did work. And that's really all like a business is, is you, you take action on things and there's certain businesses you can start.

They are like service businesses [00:13:00] that you can start making money tomorrow. And then there are other businesses like, um, creating a platform, like a podcast or a blog or like creating an audience that are going to take a lot longer, like you're not going to make money instantly. But you've got to look at it as more like, do you enjoy it?

Are you learning? Are you growing? And then more for the longterm. Right. So I think there's just different ways to look at your business, depending on what you're doing. And, but just know that struggles and failure are going to be a part of it. So that when those happen, we always tell our team, like we get paid to solve problems.

So when problems come, you literally should be like, yes, it's a problem, you know, instead of, cause if we get down and we're like, oh, this is so hard, then it's easy to quit and give up. And then you won't ever achieve your dreams. So, yeah. Uh, that reminds me when you go into the failures, my, uh, math teacher in her room, she had up a poster and it said, I haven't failed.

I've just made 10, 000 [00:14:00] mistakes. Yeah. I learned 10, 000 ways. How to not do it. Right. So, yeah. Yeah. And to give you some, you know, specifics of mistakes we've made. I mean, we've hired people and trusted them way too much. We didn't really like pay attention to them or keep track of them. We were just like, okay, you do this.

And we didn't want to want to hear about it. We've gotten really good at being more accountable with our people, keeping, you know, stats, uh, researching different things, making sure we're staying on top of managing people. Uh, we've gotten smarter at how we spend our money. You know, what numbers are we getting back?

We've gotten better at creating contracts and how we work with people. Negotiations. We're way better at looking and finding good people, better opportunities, better situations. But we've made mistakes with people, with money, with investments, all kinds of different things. We wouldn't know any of that if we didn't take action.

And every mistake we've been, that we've done. If we stick with it and overcome it, we get way smarter and way better. And so the weird thing is, is like, we might have a hard experience or we might lose [00:15:00] some money, but we ended up making a lot more money because we learned from it and we didn't just give up.

So that's really huge. I totally agree with that. So what financial education were you taught or exposed to growing up or maybe not exposed to that you wish you were? I mean, I went to school and then I went to college. I always knew I wanted to go to college, put myself through school. I had a paper out when I was 11, babysat when I was like nine.

So I've always worked, worked hard, put myself through college, figured out college, got scholarships, played sports, did all kinds of different things. But I was more like, okay, you do this and this. I didn't know really anything about the entrepreneurial world. And so I was a third grade teacher. And I was working really, really hard and that was a great job, but I was getting paid like nothing.

I couldn't even support my own self almost. And so when Justin came into my world and he had this natural born entrepreneurial way of looking at the world and he said like, let's make a million dollars in our first summer. I was like, yeah, let's do it. So we didn't have a ton of experience growing up and he talked about some of the experiences that he had, but he and I just kind of have figured out [00:16:00] things together.

But it would have been amazing to get a lot more help and resources like there are today. Like there's so much cool information out there. It's wild. It's a good thing. She didn't see into that first year and we had 120, 000 of debt. She might not have married me. You know, I don't know. So do you feel like financial education is needed in our schools?

And if so, what type of it do you think is needed? Oh, my goodness. Yes. It's like an understatement of the century. I mean, people don't even know how to balance their checkbooks, how to save money, you know, how to run numbers, how to have investments. I mean, it's crazy. Yeah, I think there was a study done, like, even like, I don't know if it's two thirds or higher.

Um, of adults can't even pass a basic financial, like literacy test. Like very, very basic. It's just something that isn't taught. And not only do I think it should be taught, I think it should be the main thing that is taught. It's like everything else is [00:17:00] like around that. It's like, maybe we learn a few minutes of, I don't want to pick any specific subject, because then someone might get upset.

But I think financial literacy, I mean, it's not. I remember like pretty much being done, you know, I was done with college and leaving and just being like, I, I didn't really learn a whole lot, like my whole goal now I'm gonna go make money and take care of a family. And I don't know how to do that really other than just.

But if I would have had the opportunity to start when I was younger and been investing and learned about money and being able to maybe even start a business like many years before, we would have avoided a lot of stress. And I think like marriages would be better. Families would be happier. Um, I just think it's so needed.

The education system has stayed pretty similar. It's evolved a little bit. For so long for so many decades and it just really means a major overhaul, I think Yeah, that reminds [00:18:00] me of uh, like funny thing that happened in school one time So we were gonna go outside for recess and um, it was raining So we had to do indoor recess and all my friends they were off playing Like, uh, board games and they were like playing with the deck of cards and I go up to my teacher and I ask, uh, can I check my stocks?

And she goes I have never taught anything about stocks. I've never had a kid ask me about stocks She texted my mom about what had happened because she was just amazed that like I had under And I had learned that and so I thought that was just really a funny like story that had happened Uh in school like just how surprised the teacher was that I even knew about it because She may not have even known about it.

Gosh kid. I got a question for you. Is that allowed? Yeah I know this is your interview. I don't know if I can uh, flip the script, but sure I was Talking to my daughter yesterday. She's 14 And she just, she's, she's been babysitting 16. Oh, she's 16. [00:19:00] That would be our son. She used to be 14. Okay. I feel like she's still my little girl.

She's okay. She's growing up. She's 16 and she's babysat in the past, but now she's got like a more regular babysitting job where she'll be babysitting two, three times a week. She's getting paid a little more money. So she's very interested in investing. And I haven't done a ton of stock investing. We've done more like in real estate and stuff like that.

But I was telling her, I was like, you should probably just put a bunch of money, like in stocks and, but she was also asking like, well, how much money can I make if I put in stocks? Like, what would your advice be to a, a kid, whether it's like anyone from the age of 10 to 18 or whatever? Yeah, who's making money?

Like what percentage would they put in? Like how much money do you think they can make from that? Like, what would you tell her like where to put that? Okay. So, um, I, so when you said 10 to 18, I bought my first sock at 10. I [00:20:00] got my brother. So we invest in an app called green light that allows kids to have like their own debit card.

And so, my brother, I, like, taught him about it when he was 8, I just told him, like, a couple of stocks, and so he invested when he was, like, 8, or 9, and so, um, I kind of feel like, at the beginning, you're interested in stocks, I go for big, like, blue chip companies, like, not anything risky, nothing below 5, like, so, I remember, my first stock was Amazon, then I moved on to Apple, Google, OnCloud, then, you.

Then I now have a love hate relationship with Tesla.

Um, that's kind of been like my up down moment. We recently got a Tesla, so we're supporting. We're trying to help you. We're trying to help you out. Um, uh, let's see, but like, if you're ever, if your stocks are ever down, don't feel the need to sell. Um, you, as long as you know that it's a good company, [00:21:00] uh, Like keep that invested in it because you know that it's going to end up rebounding.

Um, but also if it is just losing you a ton of money and like there's news about it that's bad, you don't need to be afraid to take a loss. I've sold a loss but always try to get like a, like a profit to offset it or at least not make the loss as bad. Um, the stock market normally compounds around like eight percent each year and then of course you have recessions every eight to 12 years.

So I mean, I did a report in school and if you investing earlier, 10 years earlier than the normal age, you can make just in a 20 to 30 year span, an extra 134, 000 just by investing a hundred every month into, uh, the S and P. And so that study was like shown. Check the research too and it's really proven so Say I started at 10 years and then the next person started at 20 years old.

Um, [00:22:00] the 10 year old person would make 134 thousand dollars more than the 20 year old In just a 30 year span he invested for 30 years the 20 year old invested for 20 But he makes that much more the 20 year old makes like 74,000 ish if it compounds at like 8% each year. So just investing early has a huge factor to give you a head start in life.

And that's just a hundred dollars a month you said, right? Wow. Yeah, just hundred. That's amazing. Yeah, let's do that. Okay. I'm gonna let my daughter know 'cause she's gonna try to invest like a thousand a month, I think, or four or 500 months. Yeah. First anyway, . Yeah. Okay. Well, that was amazing. Thanks so much for coming on your show today.

All right, we can get back on track. Okay. Yeah. Um, do you feel, uh, my generation could be the largest group ever to reach millionaire status? Better, they're better by the time you're our, our our age. If you don't have, if you're not a millionaire, then you're probably [00:23:00] gonna struggle to pay your bills.

Mm-Hmm. 'cause of, I mean, inflation and everything, but I mean, you had some good answers for this. I mean, you guys have more information than anybody has. I mean, look at you, you are extremely intelligent. I'm like, wow, if I was this smart at his age and look at all the things that you're doing, like there's so much out there, so much information, good looking, I know, right?

Our daughter was a little younger, but, but we were talking about this. You guys have so much opportunity and so do we, I mean, we have it just as much as you guys do. And I would say the hardest thing with any human being, no matter what generation you're born in. is work ethic and distraction and distraction.

And so, you know, this generation, we are, we can get things quick, that quick instant gratification. And when you have a business, it's more of a long game. Like you got to be patient and it will, it throws curve balls at you and people aren't telling you exactly what to do. And so can kids and this generation [00:24:00] be millionaires for sure.

But will they face themselves, develop the work ethic, develop some patience and put themselves out there? Step out of the box a little bit. Habits to avoid the distraction. Like sometimes our kids are like, Hey, get off your phone. Yeah. You know, like, I mean, you could waste a whole day on your phone or social media today.

Someone listening today could go invest a hundred dollars in SMP and in 10 years, their peers will have maybe nothing in their bank account. And this person will have all these investments that are building. And so if you're willing to learn and work hard, heck yeah, you can. Absolutely. Yeah. You got all the information right at your fingertips.

All right. Let's talk business. Our next season on the cash code podcast is going to be focused on ways kids and teens can use their skills to earn money. What opportunities do you feel there are for the next generation in starting and running their own business? So many. So many opportunities. Here's the thing, [00:25:00] so our kids right now, we're having them all get jobs, just regular jobs.

because it's easy to talk about having an idea, but to actually get out there and do it and do the hard work to sell something can be challenging. And sometimes kids don't have the work ethic, like they've never had a job. And for some people that works, they're just going to go, they're just going to go after it.

And that totally works fine. But if you've never had a job and starting a business seems really overwhelming, you know, go work at Chick fil A or get a paper route, go do some babysitting. Develop a little bit of work ethic and then build off of that because the opportunities are there, but whether or not you take them and do something with them is up to you, really.

Yeah. But as far as opportunities, like we always say, there's a million ways to make a million dollars. It's just a matter of picking one and kind of going down that path and then learning as you go and then adapting. It's all about. Taking action because you never know what one thing is going to lead to like you're never going to end up doing the exact thing that you thought you were starting out to do.

But I mean, there are so many like service based businesses, whether [00:26:00] it's like mowing, mowing lawns or doing. Yard work, um, cleaning out gutters. Maybe not if you're too young, you don't want to fall, but washing cars, walking dogs, pet sitting, cleaning up dog poop. I used to shovel like horse manure when I was, when I was younger.

And then you have like the online, like if you can learn anything about digital marketing, uh, those are all huge, uh, skills and assets. We're always telling our kids, learn skills, whether you're learning skills or things that you're really good at and passionate about, you can always turn those things into a business.

Um, our son, our 18 year old son, he's learned how to fix iPhones. So he will get people's iPhones. He'll fix them and he can make a hundred dollars an hour doing that. Now his goal is just to market enough to where he gets a bunch of people and then he can hire other people and pay them 20 an hour to help him.

And then he's essentially making, [00:27:00] you know, maybe not quite 80 an hour on every hour they work because he has marketing costs and stuff like that, but he could then be making 30 an hour for every hour that other people are working for him. So at first it's all about making money whether it's a job or doing a service based business on your own And then the goal is to use leverage which is either Other people which is money Or other people so that you can scale and grow and so that you can make more money than a normal person would be able to make on their own, just working by themselves.

So I know I kind of threw a lot out there or another leverage point is if you have like a media platform, like a podcast or something like that, you can grow an audience and then you can either. sell sponsorships or, or courses or programs or, or things like that. So lots of opportunity. All right. Um, how are you teaching your own children about running a business and their potential to be entrepreneurs themselves?

I mean, some of the things that we're doing are very [00:28:00] basic because running a business is. You have to have habits. You got to go to bed at a good time. You know, you can't be addicted to your phone. That's a hard one with our kids. We're like, get off your phone and focus, focus, distraction. That's a really big one.

Can you stay organized? Can you have a deadline and follow it? So a lot of the things that we work with our kids are, okay, you have this awesome idea. Like you want to get this 3d printer and you want to print really cool things. Our 14 year old was just barely talking about this before we left. And it's like, okay, do you know how to communicate and talk to people?

And so it's, those habits are really, really huge of, do I believe in myself? Can I do what I say I'm going to do? Not just talk about the idea, but actually do the hard work. And then can I follow up and have accountability? And can I hold my own self accountable? We do a lot of that. We are constantly talking to our kids about money and entrepreneurship.

Anytime we go on a trip, like a plane or somewhere, they have to do, instead of just playing games, they have to spend [00:29:00] half of the time Listening to podcasts or business books or self development, and then they can spend the other half of the time, like watching a movie or playing other games or stuff like that.

And I think just getting that stuff in their head. I'm talking to them all the time about it. We do a lot of just kind of general life coaching too because it takes some confidence You know, you have to have some confidence to hop on this podcast and be the cash kid I mean and then you're learning and so we talk to our kids a lot about Have a voice.

You know, when you're in a room, look at people in the eye and say, hello, you know, do you feel comfortable being around other people? Can you stand on your own? There's a lot of mental health that we talk about too, so that they feel strong and confident and have those habits. So they're like, okay, I can do this.

Let's go. So we do a lot of that as well. I mentioned this already, but the more skills you have, the more likely you are, the more successful you're going to be at starting a business. It's like our son. Um, another thing he's starting to learn is how to code [00:30:00] now. I don't know in 10 years, like what he's learning right now with AI may not maybe obsolete, but as he learns how to code, he's going to learn some basic things that he can then go out and get paid to do that for other people, or he can do it in his own business.

Or what I keep telling him, he's like, Oh, what if AI? I'm like, then learn how to use AI to code, you know, like, keep learning, stay on the cutting edge of what's going on. You just keep growing and adjusting and pivoting. And if anything else, like Tara mentioned, he's learning how to be focused and how to learn a skill and how to apply that skill.

And then he can learn other skills from that skill, like apps that he wants to create and different cool things that he wants to do sometimes just getting your brain going on all the different ideas and then taking action on those. That's a skill in and of itself. And sometimes too, it's really good.

It's like play a sport where you develop this grit. Like when I was 14 years old, I started running on my own. Nobody told me to do it. I just wanted to be able to run. So I'd run [00:31:00] like a quarter of a mile and I'd stop. And then I'd be able to do a half a mile. And over a whole summer, I was able to run two miles by myself.

And that created so much mental strength in me because it was so hard. I was, I was overweight. My body wasn't healthy, but I really enjoyed sports and that made me so strong. And then when I was able to do that, I was like, you know, well, maybe I could do this. Maybe I could get myself into college. And I did.

I did. And then when Justin came and was like, Hey, we could do this business. I felt pretty strong. And I was like, I could do this too. And I'd had jobs over the years. I'd done a paper out when I was young. And so it's just starting kind of where you're at and pushing yourself outside your comfort zone and going, what job is a little uncomfortable for me, but when I can do, and then just keep building from there, keep replacing what you're doing with something even better, the fits where you want to go.

Yeah. If you become good at sitting, you know, watching dogs or walking dogs. Over time, you might be able to start a dog walking business, or you might see, oh, these dogs need better, like, leashes or collars, and then you [00:32:00] can start an e commerce business selling those things, like, but then you gotta learn about e commerce, right?

And then you learn skills around there, you learn marketing skills, like, now I know this marketing skill, and I can turn that into an agency, like, All these things just build on each other. It's about taking action and keep adapting as you go. Yeah, well said. So, your episodes are so jam packed with information.

What are our future plans for the show? To take over the world. Just kidding. Don't listen to her. I'm just kidding. I'm just kidding. Go ahead. Well, the first year, the goal was really to focus on the podcast and grow the podcast. We were also traveling the world. So it's so cool because we're in these other countries and then we're also growing this podcast.

And so that's been the goal of the first year. And then the second year is to monetize the podcast, to be able to, for every dollar we spend, you know, get 50 cents back and then a dollar and then 2. And so the goal currently is. To make money on what we're spending to grow the podcast. And then [00:33:00] what's after that?

So we want to keep growing the podcast. We want to keep growing other platforms like social media, social media, our email list, um, uh, our, our website, like get better content, more content, our website, and then we want to launch a program, which will probably happen next year. Um, and then eventually like kind of like a, the end goal, there's never the end, but.

One of the main goals is this probably won't be several years down until several years down the road, but we would love to have like an actual physical campus called Millionaire University, where amazing people come just like you would to college. But instead of just learning more about history or science or different things, you're there to grow a business to invest money like that's, that's the main thing that you learn about.

And the whole concept is you graduate rich, not broke. Like you graduate. Where you're financially free, you're well off, you've made good money, you're making good money. [00:34:00] And you can take those skills and, throughout your life, so. To close out, is there anything that we haven't asked you that you would like to share with our audience?

All I would say is like, action leads to information. So if you're unsure what you should do, that's okay. A lot of people like overthink it. Just start taking action. You don't have to do things that would cost like a bunch of money to do. Just get out there and try to figure out how you can make money.

And then the more you do, the more you're going to learn. And then you can adjust as you go. And ultimately like anyone who just focuses on that, they're going to end up. Well, really financially free and happy and develop a lot in their life. And. Yep. Yeah. And just remember everything you want is a little uncomfortable.

I imagine when you did your first podcast, it was probably pretty uncomfortable. Start where you're at. Do something uncomfortable. You know, physically push yourself, find a passion project, push yourself into that and just start doing cool things because they build [00:35:00] and the truth is like making money is, is cool.

But, and we need money to, to survive, to pay our bills, to do fun things. It's an exchange of value, but what's so cool about working towards making money and working towards creating that value is it forces us to go through a lot of challenges, a lot of obstacles, a lot of problems that we're solving. And we've come to find that even more power, even better than the money is the person that you become by going through that journey, through that experience.

You know, whenever you go watch a movie, it's like the person like has this goal of this thing they want to accomplish. They call it the hero's journey. And what happens is they get ahead of set out on this journey and the end goal never ends up being what they thought it was, but the end goal helps them become the person that they needed to become.

And that's even more powerful. And that's how we're touched. And that's how we are as human beings. That's what we resonate with. So I congratulate you on this, this journey, you're facing a lot of hard things that a lot of people wouldn't do just because it's [00:36:00] like in the mind, our mind will be like, Oh, this is hard.

I can't do this. I'm too young. And you're just going for it. So I think that's. That's amazing. Not only are you going to be rich, but even more importantly, like the character that you're going to develop along the way and the person you're going to become. All the people you help. Yeah. It's just really cool.

Mr. Mrs. Williams. We appreciate your time and your expertise. You can listen into the millionaire podcast on any podcasting platform and check them out at millionaire university. com. Also be sure to check out their free business training on their website. Thank you for joining us on the cash good podcast and boosting the knowledge of fellow cash kids everywhere.

Remember. Anyone can be a cash kid, you just have to learn how to become one. Cash Kid, out.

The information presented represents the views and opinions of the guest. This podcast does not intend to provide personal investment advice. This content has been made for informational and educational purposes only. To make a [00:37:00] full and informed investment decision, we advise you to speak with a financial advisor, and for kids, definitely your parents first before investing.

You don’t have to wait until you’re grown up to start making your own money. Whether you want to save up for something big or just have extra cash for fun, a side hustle could be your answer.

Hey, Cash Kids!

I’m the Cash Kid, and guess what?

That’s right! This season, we’ll explore all sorts of jobs and side hustles you can try to earn some extra cash, even if you’re still in school.

Whether you want to save up for that new video game, a special pair of shoes, or maybe you’re like me and want to invest in some stocks—this season is for you!

( And we’re definitely gonna talk about stocks here and there… I’m a little angry with Tesla… but yet… I want one.)

So, today’s episode is a short one, but I want to give you a sneak peek into what’s coming up in this season:

And don’t worry if you’ve never worked a day in your life—we’ll walk you through it all.

We’ll also have some special guests on the show who will share their stories of how they got started and give you tips to help you succeed.

Oh, and maybe you could help us out here on the show!

If you know a kid or teen who is doing something to make money, we would love to feature them here on the Cash Kid Podcast.

Just email us yourself or have a parent reach out to let us know what you’re doing at [email protected].

We want to spotlight as many fellow “Cash Kids” as we can!

Next Monday, we’re diving into our interview with another podcast called Millionaire University. It’s going to be our longest episode yet and young and old a like can learn so much from what these two millionaire entrepreneurs have to say about us kids making our own money… and even millions… one day!

Alright, Cash Kids, I’ll leave it there for now.

So, make sure you subscribe or follow the podcast and follow along so you don’t miss out on any of these great ideas. Also be sure to follow us on Instagram, Facebook or YouTube @cashkidpodcast.

Remember, anyone can be a Cash Kid—you just have to learn how to become one.

Disclaimer:

The information presented represents the views and opinions of the guests. This show does not intend to provide personal investment advice through this podcast. This content has been made for informational and educational purposes only. To make a full and informed investment decision, we advise you to speak with a financial advisor and for kids, definitely your parents first before investing.

00:00:00] It's over! Not the podcast, just season two. A talk with the Cash Kid, coming up.

So, you've got some cash. Maybe from the allowance, or that money your grandma gave you for your seventh birthday. Here ya go, sweetie! Woohoo! Thanks, Grandma! Whatever it is, what are you gonna do with it? Spend it, hide it away, or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a cash kid.

Welcome back to the Cash Kid Podcast. I'm your host, and today, we're closing out season two with a bang. But don't worry, the podcast isn't over, just the season. We're reflecting on what we've learned. I'll share some personal insights as I continue my financial journey as a Cash Kid.

Can you believe it? This is episode 40. We've covered so [00:01:00] much ground this season the last 25 episodes of season 2 our focus was building super financial skills. From understanding a checking and saving account and compound interest to avoiding scams and shopping tips. We've laid the groundwork to set you up for financial success.

We live in the information age.

All the information is there. It's just taking it and applying it. Which is where we got our motto for the Cash Kid Podcast. Stating how anyone can be a Cash Kid. You just have to learn how to become one.

We're all capable of it. I see it already at the age of 12. Our most popular episode, episode 22, Working for Greater Financial Education, featuring Ms. Wanda McAbee from the Alabama Council on Economic Education. She's a true champion for financial literacy.

It was inspiring to hear about the strides being made to bring this critical education into our schools. She continues to be a great advocate for what we are doing and help our [00:02:00] mission.

 So, what have I learned in these last 25 episodes? A lot, actually. Did you know how many adults feel uncomfortable talking about money? Some even graduate from college without a clue on how to manage their finances.

I'm 12. That's a bit scary. But, I'm hearing from adults who appreciate our podcast shows and how important financial education is at any age.

And let's be real, we don't have excuses anymore. The information is out there,

and our mission is to make it accessible for kids and teens, parents, and even grandparents. Together, we're building a healthier mindset around money. And it's crucial, because according to Business Insider, the total household debt in the U. S. hit 17.987 trillion in early 2024. Imagine what this could look like if our generation doesn't get financially smart?

 What I've learned from my interviews this past [00:03:00] season is how my generation will be one of the ones to not really touch money or have less of an actual emotional attachment to it because we never get the sensation of feeling it. It's all in the cloud, basically.

There's also the emerging world of Bitcoin and cryptocurrency. How will that affect my generation? There's just so much to explore. And I'm glad you're here to join me on this Cash Kid journey. I'm actually surprised how many of my friends are starting to invest now as well. I'm getting asked. Weekly about what companies I'm looking at and whether I plan to buy or sell a stock based on the market trends. Now that I think about it, it stresses my parents out some.

But, me and my friends are on this journey together, and I love the discussions around stocks at my school. It's definitely a Cash Kid goal to have more kids discussing these topics. And, as we wrap up season two, I'm excited to announce our focus for season three. How kids can start earning money.

We're [00:04:00] interviewing young entrepreneurs and exploring various job opportunities for kids and teens. You won't believe the amazing things kids are doing to make money. Whether you're interested in starting your own business, learning about stocks, or just finding a way to make some extra cash. Season 3 will be packed with tips and Information. It's mind blowing to me how many options kids like me really have. So please, if you aren't already, subscribe to our show on whatever platform you're listening from. Follow us on Instagram, Facebook, and YouTube at Cash Kid Podcast. And joining our mailing list can help you keep updated on what's next for the Cash Kid Podcast. You can find all of our handles episodes and our mailing list, also our merch, at our website, cashkidpodcast.com. Also, we would love your support for this show. Podcasts are passion projects, but they come with expenses. So [00:05:00] let's support our mission by grabbing some cash kid merch on our website or by donating through Buy me a Coffee. You don't actually get me an actual coffee. It's just a metaphor to like, donate directly for a cause. The coffee's for my mom, who actually gets up really early to edit these episodes.

Thanks mom!

Remember, I'm learning right alongside you, and we're growing as cash kids together. I'm here to find the experts and bring you the best advice. To help us all grow and build a healthier financial future.

So, let's get ready to make some cash in Season 3 of the Cash Kid Podcast. See you there. Remember, anyone can be a Cash Kid, you just have to learn how to become one. Cash Kid, out.

​ [00:06:00]

It’s time to go back to school already.

(Sigh)

My true feelings about school and the cost of heading back.

Coming up!

Intro:

So, you got some cash, maybe from an allowance? Or, that money your grandma gave you for your seventh birthday.

Here ya go, sweetie! Woo hoo! Thanks, Grandma! Whatever it is, what are you gonna do with it? Spend it? Hide it away? Or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a Cash Kid. 

Hey, Cash Kids! Welcome back to another episode of the Cash Kid Podcast, where we teach you all the tips and tricks to becoming a money-savvy kid or teen.

I’m the Cash Kid and today we’re talking about something that’s on everyone’s mind this time of year—going back to school.

But not just any back-to-school talk—we’re diving into how to be mindful of the costs and expenses that come with it.

Where I live, we are already in week two of school and the idea for this episode actually came from a story one of my new teachers shared in class. We were having to glue some items into some pages in our binder and he was instructing us how to use the glue…we’re 7th graders so thought it was a little strange but then he shared this story how a boy saw this girl using too much glue on a project, and he asked, “Why do you use so much glue?”

And she replied, “Because glue is cheap!”

And he said, “It must be nice to live the 3-ply life.”

(sound effect after joke)

So, whether you can live a 3-ply life or not, you need to listen up to this episode.

 Whether you’re getting new supplies, new clothes, paying for lunch for yourself – or your friends, or just taking care of school property, there’s a lot to think about. So, let’s jump right in and see how we can be smart with our money as we head back to the classroom.

**[Sound Effect: School Bell Rings]**

**Segment 1: Back-to-School Shopping** 

Alright, first up, let’s talk about back-to-school shopping. It’s easy to get carried away with all the cool notebooks, backpacks, and gadgets. But before you start filling up your cart, take a moment to think about what you really need.

We’ve addressed these a few times already on the Cash Kid Podcast in understanding the difference between needs and wants.

Make a list of the essentials—things like pencils, notebooks, and folders. Then, check to see if you have any supplies left over from last year. Reusing what you already have is a great way to save money. We reused our backpacks, and water bottles from last year for instance.

Also, consider setting a budget with your parents. This way, you won’t be tempted to buy things that aren’t necessary.

Pro tip: Look for sales and discounts. Many stores offer back-to-school deals, so you can get what you need without breaking the bank.

**[Sound Effect: Cash Register Cha-Ching]**

**Segment 2: New Clothes and Shoes** 

Now, let’s talk about something that’s super exciting for a lot of us—new clothes and shoes! I made a deal with my parents if I made straight A’s last year could I have a pair of OnCloud Shoes. I already own 5 shares of their company’s stock too so I wanted a pair.  So, maybe you can make a deal like that. Maybe you’ve earned some money over the summer and can asks to share the cost of a pair you really want.

 Also, it’s always fun to start the school year with a fresh outfit, but it’s also important to be mindful of how much we’re spending.

Before you go shopping, take a look at what you already have. Do you really need a whole new wardrobe, or can you mix and match some of your current clothes to create new outfits? Sometimes, just a couple of new pieces can make a big difference.

You don’t actually need an entire new wardrobe to go back to school.

Well, some my age do as there are kids who grew a lot over the summer. But, that constitutes a need, not a want.

When you do go shopping, try to focus on buying quality over quantity. A few well-made items can last you longer and save money in the long run.

**[Sound Effect: Clothes Hanger Sliding]**

**Segment 3: Lunch Money and Daily Expenses** 

Next, let’s talk about one of the biggest daily expenses—lunch! I’m not going to lie, when I moved to middle school, the freedom of more choices for lunch was appealing. I started buying a X drink every day at lunch before my Mom got pinged with the need to replenish my lunch money supply within a few weeks and questioned me on what I was buying. Let’s just say… we had to make some cut backs.

I also know of lots of other kids who want to be kind and buy all their friends an ice cream or buy their friends a lunch with their lunch money. Good intentions… but probably need to discuss with your parents first.

Whether you’re buying lunch at school or bringing it from home, it’s important to be mindful of how much you’re spending.

If you buy lunch at school, ask yourself if there are ways to save. Maybe you can bring a snack from home and only buy part of your meal. Or, if you bring lunch, think about packing leftovers from dinner. Not only does this save money, but it also helps reduce food waste.

And my school is always running some kind of fundraiser for an organization selling cookies, snow cones, and candy. These can add up quickly! Try to set a daily or weekly limit on how much you spend, and stick to it.

**[Sound Effect: Coin Dropping in Piggy Bank]**

**Segment 4: School Supplies for the Classroom** 

Now, let’s talk about something a little different—helping out your teachers with supplies for the classroom. Sometimes, teachers ask students to bring in extra items like tissues, hand sanitizer, or dry erase markers. Great parent volunteers usually donate a lot these items for our classrooms. Also, PTO organizations are great at raising funds to mee these needs. So while you may not be buying these supplies yourself, I think it’s important you understand they weren’t free… kind of like back to the glue is cheap story earlier.

Remember, every little bit helps, and being mindful of your spending doesn’t mean you can’t help others.

**[Sound Effect: Pencil Writing on Paper]**

**Segment 5: Taking Care of School Property**

Last but not least, let’s talk about taking care of school property. This might not seem like a cost to you, but it’s super important. When we take care of our school’s devices, desks, and other property, it saves money in the long run.

Think about it—if everyone takes care of their chrome books, lockers, and yes, not trash the bathrooms, the school won’t have to spend as much on replacements. That money can go towards other things that benefit you and your classmates.

Plus, it’s just the right thing to do!

**[Sound Effect: School Locker Closing]**

**Conclusion:** 

Alright, Cash Kids, that’s all we have for today! Remember, being mindful of the costs of going back to school doesn’t mean you can’t enjoy it. It just means you’re making smart choices that will help you—and your family—save money in the long run.

So, as you get ready to head back to school, think about the tips we talked about today. Make a list before shopping, set limits on daily expenses, be smart about buying new clothes and shoes, contribute to classroom supplies in a way that works for you, and take good care of your school’s property.

Oh, and what are my true feelings about being back at school?

Well, let’s be honest, if I had a choice, I’d rather be at home checking my stocks and playing video games or swimming.

But… time to get back to work and I’m enjoying so far.

Thanks for tuning in to the Cash Kid Podcast! Be sure to share this episode with your friends, and don’t forget to subscribe so you never miss an episode.

Remember, anyone can be a Cash Kid, you just have to learn how to become one.

Cash Kid, Out!

Disclaimer: The information presented represents the views and opinions of the guest. This podcast does not intend to provide personal investment advice. This content has been made for informational and educational purposes only. To make a full and informed investment decision, we advise you to speak with a financial advisor and for kids. Definitely your parents first before investing.

We’re all guilty of it!

What am I talking about?

Stay tuned!

Intro:

So, you got some cash, maybe from an allowance? Or, that money your grandma gave you for your seventh birthday.

Here ya go, sweetie! Woo hoo! Thanks, Grandma! Whatever it is, what are you gonna do with it? Spend it? Hide it away? Or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a Cash Kid. 

Welcome back to the Cash Kid Podcast! I'm your host, the Cash Kid, and today we're diving into a topic that's super important for kids and teens - saving for big purchases.

Let’s be honest.

We’ve all been guilty of asking our parents for something we want. My six-year-old brother has figured out how to search up toys on Amazon to show my parents to try and convince them to buy him things.

My parents then showed him how to add things to a wish list, and that he has to wait until a birthday or has the money to buy it.

But, if we don’t want to wait until a birthday or Christmas for the chance we get what we want, how do we learn to save for things we kids and teens want to buy?

Whether you're aiming to buy a new gadget, that first car, a new lego set, Lululemon outfit, purse, or even start your own small business, learning how to manage your money wisely is key.

So let's get started!

First, let's talk about budgeting. Budgeting may sound boring, but it's the foundation of good money habits. A budget helps you keep track of your income and expenses so you can make sure you're saving enough to reach your goal.

**[Sound Effect: Cash Register Ding]**

Now, let’s say you get $20 a week from your allowance or a part-time job. If you spend all of it on snacks and video games, there won't be anything left for that big purchase you want. Instead, try the 50/30/20 rule.

Save 50% of your income, use 30% for needs like school supplies, and spend 20% on fun stuff.

Next, let's talk about earning money.

Saving is great, but if you want to reach your goal faster, finding ways to earn extra cash is a smart move.

Here are some ideas:

First, for teens, why not think about getting a part-time job. Many teens work part-time jobs after school or on weekends. It could be at a local store, a fast-food restaurant, or even babysitting. I saw several teens working at a local farmer’s market the other day. I thought that’s a great job for the summer for teens to make money and save for big purchases.

Second, what about tutoring? If you're good at a particular subject, consider tutoring younger students. It's a great way to earn money and help others at the same time. There are always parents on Facebook groups looking for tutors to help their kids with a subject they are struggling in, so lots of clients… and money.

And then of course for younger kids there’s the good ole lemonade stand and doing household chores. Be mature and ask to talk with your parents to set-up a chore list for you and how you can earn some money around the house or do things for neighbors. You’d be surprised how many are willing to pay kids to do small jobs here and there.

We’re actually working on season 3 of the Cash Kid Podcast already where we’re going to be interviewing lots of tweens and teens about ways they are using their skills to make money. We can’t wait to start releasing those episodes later this year!

**[Sound Effect: Coins Clinking]**

**Host:**

Now, let's move on to selling old items. Most of us have toys, clothes, or gadgets that we no longer use. Why not turn those items into cash? We have lots of large lego sets in our house that we’ve put together. My Mom gave us the idea recently to take those apart and resell them used to others. We looked it up, and it’s actually a thing.

Also maybe organize a garage sale, or sell old items online through platforms like eBay, Depop, or Facebook Marketplace. Not only will you declutter your space, but you'll also add to your savings goal for that big purchase.

Another important habit is setting clear savings goals. It's easier to save when you know exactly what you're saving for. Break down your goal into smaller, manageable milestones. For example, if you want to save $200 for a new bike, aim to save $50 each month for four months. This makes the goal less overwhelming and gives you a sense of achievement as you reach each milestone.

I use an app called Greenlight to help with my savings goals. I can always see how much I have in my savings account. When I get paid for a job or chores, I use the 50/30/20 rule we talked about earlier and know before the money even enters my account where it’s going.

Seeing your progress can be incredibly motivating and helps you stay on track.

**[Sound Effect: Checkmark]**

**Host:**

Let's not forget about the importance of needs versus wants.

We actually produced an episode on needs versus wants. It’s titled “Needs, Loves, Likes, Wants.”

Be sure to check it out. It’s one of our most popular episodes on the Cash Kid Podcast.

It's easy to get tempted by things you want to buy immediately, but it's important to prioritize your needs and long-term goals. Ask yourself, "Do I really need this, or can I save this money instead?" Delaying gratification is a powerful skill that will benefit you throughout your life.

**[Sound Effect: Thought Bubble Pop]**

Finally, let's talk about the power of compound interest. If you save and invest your money wisely, it can grow over time. Consider putting some of your savings in a high-yield savings account or investing in a beginner-friendly platform. Even small amounts can grow significantly over time.

So, let’s recap, here are the key points to help you save for big purchases:

1. Budget -  Use the 50/30/20 rule to manage your income.

2. Earn Money - Find part-time jobs or ask talk with your parents about a chore list to earn money.

3. Sell Old Items- Clear out those old unused items into cash.

4. Set Goals - Break down your savings goal into smaller milestones.

5. Track Your Progress – Use an online app like Greenlight or keep a book to record your earnings and expenses.

6. Consider Needs vs. Wants - Prioritize long-term goals over immediate desires.

7. Compound Interest – Consider putting your money in a savings account that can grow for free and grow your money over time.

That's all for today's episode of the Cash Kid Podcast. I hope you found these tips helpful and are inspired to start saving for your big purchase. Remember, good money habits start early, and the skills you learn now will benefit you for a lifetime.

Don't forget to subscribe to the Cash Kid Podcast on whatever platform you are listing from. Leave us a review and follow us on Instagram, Facebook, and YouTube.

Remember anyone can be a Cash Kid, you just have to learn how to become one.

Cash Kid, out!

Disclaimer: The information presented represents the views and opinions of the guest. This podcast does not intend to provide personal investment advice. This content has been made for informational and educational purposes only. To make a full and informed investment decision, we advise you to speak with a financial advisor and for kids. Definitely your parents first before investing.

Understanding Inflation: Why Your Money Buys Less Over Time

In this Cash Kid Podcast episode, the concept of inflation is explained in a simple way tailored for kids and teens. The episode covers how inflation affects purchasing power, increases the cost of goods, and impacts daily life and financial goals. Real-world historical examples, such as hyperinflation in 1920s Germany and the Great Inflation in 1970s USA, illustrate the effects of rising prices. Practical tips are provided to help young listeners manage their money, save, and invest wisely to mitigate the impact of inflation on their lives.

00:00 Introduction to Inflation

00:39 Why Inflation Matters

01:39 Historical Examples of Inflation

02:33 Causes of Inflation

03:09 Impact of Inflation on Families and Businesses

04:01 Inflation and Personal Finance for Teens

04:32 Tips to Handle Inflation

05:40 Conclusion and Final Thoughts