Smart Money Parenting

Latest Episodes:

Simple Ways to Guide Your Child to Become a Generous Giver Feb 16, 2023

Show notes

How do you teach your kids to be generous and not selfish? In today's episode, hosts Chad Willardson and Scott Donnell go through practical tips you can implement right now to teach your kids about generosity. They also discuss why it's important to raise kind and compassionate kids who know the value of giving back.

Is generosity a teachable skill, or do kids have to be born with it?
According to Chad, kids have different personalities, but they can all learn to be generous.
Parents need to be generous first if they are to teach their kids generosity.
Smart money parenting pro tip - teach your kids to give a portion of every dollar they make.
Scott explains what smart money giving is all about.
What do most super-rich people have in common?
After 21 years of money management, Chad noticed that most successful people are givers.
Scott reveals that generous giving can take many forms and doesn't necessarily have to come down to money.
Scott and Chad agree that kids should earn the money they give out - only then can they learn the value of giving back.
Chad shares an exciting story about a time they went beach cleaning during a holiday trip to Puerto Rico.
Scott explains why he believes the easiest way to build tight family relationships and eliminate selfishness is to perform acts of charity together.
Chad highlights how generous giving helps children develop an abundance mindset.

Mentioned in This Episode:

gravystack.com/smart

smartmoneyparenting.com

Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott/

Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson

Scott Donnell on Instagram - @imscottdonnell

Chad Willardson on Instagram - @chad.willardson

Scott Donnell on TikTok - @imscottdonnell

Approaching the Conversation of Money Management as a Family Feb 16, 2023

Show notes

How do you talk about money in front of your kids? In today's episode, hosts Chad Willardson and Scott Donnell discuss the role and impact of money in family relationships. They also share how parents can talk to their kids about money instead of making it a taboo topic.

What is the biggest fight in a home?
Chad reveals that the leading cause of divorce is money related - almost all couples have disagreed about money at some point in the relationship.
There will always be money-related conflicts in the home - Scott explains how parents can show their kids healthy disputes and resolutions.
Scott goes through reasons why talking about money matters.
Why do most kids dislike talking about money?
After surveying over 1000 kids, Scott and his team found that money was the common thing most kids disliked talking about - because Mom and Dad fight about it.
How does a couple's relationship with money influence their intimacy?
Chad shares a simple trick parents can use to teach their kids financial independence.
The problem with obsessing over "I don't want my kids to go through what I went through."
Chad and Scott agree that the way you talk to your kids about money will influence them for years to come.
Scott explains why it's always a good idea for parents to be on the same page regarding money.
According to Chad, you have to include your kids in money conversations and always talk about money in a positive light.
Scott is convinced that the more you teach your kids about money from a young age, the less likely they are to make grave financial mistakes in future.
This week's challenge - be intentional about how you talk about money in front of your kids.

Mentioned in This Episode:

gravystack.com/smart

smartmoneyparenting.com

Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott/

Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson

Scott Donnell on Instagram - @imscottdonnell

Chad Willardson on Instagram - @chad.willardson

Scott Donnell on TikTok - @imscottdonnell

Why Parents Shouldn’t Pay Allowance to Their Kids Jan 23, 2023

Show notes

Should you give your kids an allowance? In today's episode, hosts Chad Willardson and Scott Donnell discuss the dos and don'ts of giving your kids an allowance. They also share practical money management strategies that are way better than giving your kids money they didn't earn.

Scott and Chad start the conversation by sharing their thoughts on whether parents should give their kids an allowance.
Chad reveals he's never been a fan of allowance because it's basically paying your kids for the mere fact that they exist.
Although Chad and Scott agree that an allowance is an easy way to teach your kids money management, it's not the best.
According to Chad, kids need to know that they have a role to play in the household - and they won't be paid for everything they do.
For Scott, a great way to incentivize your kids to be more proactive in the house is to make it clear that not all tasks are created equal - some tasks warrant more pay than others.
Chad highlights how his children earn money by going above and beyond their daily responsibilities.
Chad is a big proponent of making your kids pay for their extra-curricular activities. If they want to go to Disney, they must earn it.
Scott and Chad agree that parents should start teaching their kids money management as soon as they learn how to count.
Scott believes the easiest way to ruin the relationship you have with your kids is to buy their love with money.
Chad highlights the benefits of empowering kids to become the hero of their own financial stories.
Scott explains how parents who never give their kids the opportunity to earn, manage, and spend money end up raising financially illiterate children.
Scott shares how parents can take kids down the path to financial literacy using the GravyStack app - an app that harnesses the power of play to teach kids how to earn, save, invest, and share money.

Mentioned in This Episode:

gravystack.com/smart

Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson

smartmoneyparenting.com

Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott/

Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson

Scott Donnell on Instagram - @imscottdonnell

Chad Willardson on Instagram - @chad.willardson

Scott Donnell on TikTok - @imscottdonnell

What Is Smart Money Parenting? Dec 28, 2022

Show notes

What would the world be like if we had 50 million kids financially competent and ready to succeed in the real world?

That's exactly what we're gonna do with the Smart Money Parenting Show. Each week, we're gonna bring you great content to raise great kids as amazing parents.

How do you keep your kids from not being only focused on themselves? Quickest way to keep your kids from being spoiled brats?

Lots of ideas, parenting hacks, and great guests talking about how to talk to kids about money. Smart Money Parenting.