Rob and Sherry talk about how to teach your kids about money. They discuss the different money personality “types” and well as some learning goals including saving, budgeting, and investing.

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The 5 Money Conversations to Have with Your Kids at Every Age and Stage

Rob Walling:

Episode 100. You’d think we would have thought of something more grandiose to do, like having 100 people on here giving us verbal testimonials.

Sherry Walling:

That sounds grandiose. What’s more important than talking about money honey?

Rob Walling:

Over the past almost two years we’ve been doing the podcast because we do it weekly and we’re up to episode 100. We’ve made our way to where we have thousands of unique downloads per episode. Tens of thousands of unique downloads per month. We have 42 worldwide iTunes reviews, all five star. We have folks who are helping support us via Patreon that support ZenFounder.com.

We really want to take this time to thank you our listener because without these numbers going up into the right people stop doing podcast. You lose the motivation to do it. Every week as we see the download numbers increase and we see new iTunes reviews come, and we see the money coming through to support the show, it feels great. We want to thank you as a listener and we just look forward to continuing to travel this journey that we’ve traveled over the past couple of years.

Sherry Walling:

As we mentioned at the beginning, our conversation topic today is about money, about dollars. We have been revisiting this part of our life with the new year, both in terms of thinking about our own family budget and our business budgets and what we want to accomplish financially this year. But the focus of this conversation is how to talk to kids about money, because our kids are 10 and six and they want stuff, believe me. So we’ve had lots of conversations lately, especially around the holidays around resources and how to use them, how to save them.

What’s a valuable expenditure when you have limited resources. It’s really inspired us to think carefully about how we’re getting our kids ready for money management as adults by getting them started now.

Rob Walling:

Yeah, and so every once in a while I’ll come across a book that is about how do you talk to kids about money and stuff like that. Some of them have been good, some of them have been not so good, but one that I read recently that I was pretty taken by, I felt like it did a really good job of helping me rethink the way that I view how our kids spend money, it’s called The 5 Money Conversations You Should Have With Your Kids at Every Age and Every Stage. I got it in audio format but it’s available in Kindle and in physical.

We’ll link up the Amazon link in the show notes. The idea and what I liked about this book is I’ve heard in the past allowance versus no allowance, chores versus no chores, how to teach them about investing, how to teach them the values and such. What I liked about this one is that the co-authors have already written a book for married couples about figuring out your own personality type, your spouse’s and then figuring out your compatibilities and incompatibilities and how working together you can figure out how to surmount those, because money obviously is