In this episode of the Succeed With Money Podcast David and Carolyn discuss some of the typical money issues that come up when raising kids. This leads into a chat with another Mum about how she is going about educating her 4 boys about money. At the end of that conversation David offers a strategy she can use to teach her boys to become investors. This strategy can be used by any parent to accelerate the financial education and understanding of money principles they impart to their kids….. which makes this an episode not to be missed!

Last week we opened a can of worms introducing the topic of teaching children about money. We’re not sure how big this is going to get but there is certainly a lot of interest in this topic. As parents we have a responsibility to give our kids a solid financial foundation for life. Neglect this and you’re setting your kids up for failure.

In this week’s podcast we interview a parent of two children who are learning the importance of making smart choices with money… so it’s an episode not to be missed!

We have realised the importance of teaching the next generation, i.e. your kids, good money skills. Over the coming weeks we will be focusing on the importance of teaching children good life money skills

The Federal Treasurer brought down the budget last week and announced we would all be receiving personal tax cuts. Three days later this passed through parliament and it’s now law. We’re all going to be getting more in our take-home pay each week.

The Federal Treasurer brought down the budget last week and announced we would all be receiving personal tax cuts. Three days later this passed through parliament and it’s now law. We’re all going to be getting more in our take-home pay each week.

Three and a half million Aussies have benefited greatly from Job Keeper payments over the last 6 months. These payments were designed to keep staff attached to employers while the business’s income was down due to Corona Virus. Now it’s early October, JobKeeper V1 has officially run out. However it has been extended for some people at a reduced rate. For others it has ended. There are many who will now be facing a change in their financial experience and the reality of having to face up to life after government support and protection from loss of income. The Covid bubble has burst.

When you were a teenager you were probably very excited at the prospect of getting started on your life journey, the way YOU want it to be.

When you were in your 20’s you would have started that journey and maybe you recognised the need to get some qualifications or skills that would allow you to generate a decent income, but you were having fun doing life your way.

By the time you're in your 30’s you may well be married, maybe started a family, possibly purchasing or looking to purchase a family home and quite likely up to your eyeballs in financial commitment.

If you’re in your 40’s you’d quite likely have teenage kids and financial pressure coming at you from many directions.

Each decade of life has its own challenges and rewards.

If you were a prime minister, a king or queen, or perhaps the president of an important country, you would have security staff whose entire time and energy would be dedicated to keeping you safe. To do that every journey you took, every speech you made and every meeting you had would be assessed for the possible risk of something bad happening to you ….

OK so you’re actually not the prime minister or the queen, but does that mean that taking risks is OK for you? Have you ever stopped to consider the risks you are living with each and every day?

Have you ever thought about where money comes from? Right now governments around the world are spending lots of it to keep their economies going. That's borrowed money that has to be paid back!

But where does it actually come from and where does it go?

If you think of each week's pay as seeds that could be spent and given to others, you realise some of them could be saved and planted to grow massive trees for your own prosperous future over time.

Are you sowing seeds for your future?

This week's episode of Succeed With Money covers a lot of ground on the topic of creating money.. and yes, it actually does grow on trees!

There are at least three basic human needs. Food, Shelter and Clothing and many would add Companionship to that list as well.