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Changing kids perspectives from “I can’t afford it” to “How can I afford it”

Typical school curriculums do not cover financial literacy. Many people find it complicated and daunting, and in fact, FINRA Investor Education Foundation states that two out of three U.S. adults "lack financial literacy”. According to Grant Cardone “ “It’s critical for consumers to have basic understanding of personal finance. Those who don’t often end up mired in debt, paying exorbitant interest fees, facing emergency expenses without a savings cushion or even filing for bankruptcy.”

Knowing this, we do our best to teach our kids about personal finances at home.. to give them real life practical activities to help them understand money at their age level.

For example, let’s say our kids want Robux (which allows them to buy special items in their Roblox video game), we change the conversation from them not having money to “how can you afford to buy it”? Our intent is to help guide how they think about money and manage limiting beliefs they may have. In the past, this manifested into them cutting and potting succulents from our backyard and then selling their succulent arrangements at the local parks to earn their money.

As they are older (now ages 7 and 9), we continue to look for ways to introduce new concepts in a fun way. A favorite nighttime activity for them these days is playing the Cashflow Game for kids. This boardgame introduces financial concepts in a fun, simplified way for them to understand, and provides real-life scenarios that allows the kids to practice financial habits and decision making and to experience the consequences of those habits and decisions in a safe and fun environment. Bottom line, for someone to win the game and exit the rat race, they need to ensure their cash flow is greater than their expenses. A rather simple but incredibly important concept.

What were some ways your parents taught you about money that really made an impact on you? How do you do teach your kids about money?


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