Episode #53 - Why Your Kids’ Money-Sense Is Your Wisest Investment
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What’s your wisest investment? Most people think of their emergency fund, retirement account, or real estate. But Robin Taub is here to teach us about the importance of raising money-smart kids!
Why’s that?
For starters: if and when adult children get in a bind, their money problems often become their parents’ money problems. Heading this off with a solid financial education starts when they are very young.
Starting as young as age five, you can discuss simple math, delayed gratification, and the concept of trading money for things you want and need. Listen in as Robin Taub tells us how!
A Chartered Professional Accountant by training, Robin Taub began her career at KPMG, transitioned into real estate, and then landed in the complex world of derivatives marketing at Citibank Canada.
Today, she’s a professional speaker and author of The Wisest Investment, an update of the bestselling A Parent’s Guide to Raising Money-Smart Kids.
In this episode, Robin shares:
Why it’s important for parents to be on the same page when it comes to money;
The negative impact on kids when their parents have tension around money; and,
What we can do to ensure kids grow up able to comfortably discuss financial matters with their spouse or partner
Her roadmap leads us through every stage of childhood and provides actionable items and suggestions for conversation. This episode, and Robin’s work, is full of easy ways we can all positively impact a child’s relationship with money.
A few highlights:
Parents have a duty and responsibility to raise financially educated, money-smart kids. If not, the kids and the parents wind up paying the price. And it’s an expensive lesson for all involved. [2:37]
How to share age-appropriate money lessons with children under the five pillars: Earn, Save, Spend, Share, and Invest [8:47]
When we can slow down and connect with children over such a commonly-used, impactful tool like money, and look for opportunities to build money lessons into day-to-day life, we create a life-long bond over it. [24:11]
Links:
Want to level up your game around money in your relationship? My free quiz will help you learn your Couple’s Money Personality Type AND how you can grow from there!
Adam Kol
I am a Couples Financial Coach who loves helping couples get on the same page, minimize their financial stress, and build healthy financial futures. As a Certified Mediator, a Lawyer, and a former Financial Advisor, I offer private coaching and programs so that you can have the teamwork, peace of mind, and financial freedom that you want and deserve.
