Financial IQ and Boys

Interview with show host from Stacking Benjamins Podcast

Joe Saul-Sehy/ Stacking Benjamins

Top Things Parents Should Do With Their Boys to Teach Them About Money

* Include your boys in the family conversations about money around the dinner table.

* Discuss in detail about family bills, financial planning, budgeting, etc.. Make sure boys are at least 9 yrs of age in order to grasp money principles.

* Teach the three most important financial tools:    Cash—allowances to teach cash management.  Credit—How it works and the dangers, Investments—Stocks, Bonds, Mutual Funds

* Use board games to teach financial skills in a fun manner.  Suggestions: Stockpile (stocks game), Monopoly Junior (ages 4-6) fun and not boring, Cash Flow by Robert Kyosaki, Powergrid (boys 13 and up)

* Give books on Finance, Top Book by Ramit Sethi, I Will Teach You To Be Rich , Rich Dad, Poor Dad, Robert Kyosaki, E-Myth Revisted: Why Most Small Business Don’t Work and What to Do About It. 

Miscellaneous Tips

Mint.com—Budgeting, Saving Plans

Stockpile.com—buy gift cards of stocks for your boys

Clarke Howard Radio Show—About all thing financial

 

Joe Saul-Sehy, Stacking Benjamins -The Lighter Side To Personal Finance