Teaching Your Kids About Money with John Lanza

This week I sat down with author and Chief Mammal, John Lanza to
discuss how to teach your kids about money.


John is the Chief Mammal of The Money Mammals and author of the
new book for parents, The Art of Allowance: A Short, Practical
Guide to Raising Money-Smart, Money-Empowered Kids. A pioneer in
youth money-smarts, John created the original Money Mammals DVD
and has written three children’s picture books to help kids learn
to “Share & Save & Spend Smart.” He is recognized
nationally as a youth financial literacy expert and the Money
Mammals have been featured in The New York Times, The Wall Street
Journal and The LA Times.


HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:


How John became an expert in youth financial literacy

Some of the building blocks to teaching kids about money

The three core money smart skills for kids to learn

The importance of establishing a financial literacy
foundation

Teaching your children the Three Jar method

The real purpose behind an allowance

Why chores and allowance shouldn’t always be linked

A recommended amount to give for allowance

The best age to start with an allowance for your child

How to approach the share jar with your child and at what age

Some common mistakes parents make when teaching kids about
money

When to let your kids “borrow” money from you

The right circumstances to give your kids a loan

How to talk to your kids about investments (even if you’re
not an investment guru)



LINKS WE MENTIONED ON THE SHOW:


The Art of Allowance

Kimberly Palmer’s Podcast Episode

Bill Dwight’s Fam Zoo



GET SOCIAL WITH JOHN AND LET HIM KNOW YOU HEARD ABOUT HIM
HERE


John's Website

John's e-mail