How To Build Wealth Wisdom In The Next Generation (Ep. 83)

Lauren Smith |

Do you want your children to grow up financially savvy, equipped to handle their own finances and eventually, manage your wealth responsibly?

In this episode of The Green Zone Podcast, hosts Jeff Green and Lauren Smith dive into the critical topic of financial literacy for the next generation. From chores and allowances to credit cards and investments, they share practical tips to help parents instill valuable money skills in their children. Join us for this lively discussion that could transform your family's financial future where Jeff and Lauren discuss:

  • The importance of teaching young children about money through play, such as lemonade stands and creative ventures like Lauren’s childhood seashell business
  • How giving children an allowance for chores can instill a sense of responsibility and the value of earning money
  • The significance of helping kids set and achieve financial goals, using chores to earn money for specific rewards, teaching patience and the satisfaction of earning.
  • The benefits of summer jobs and internships for teenagers and college students, stressing how these experiences teach work ethics and the value of money
  • The importance of introducing young adults to banking, including setting up checking accounts and using credit cards responsibly to build credit
  • Encouraging kids to start investing early, using platforms like Robin Hood to buy fractional shares, thus gaining hands-on experience with the stock market
  • How holding regular family meetings to discuss financial goals, values, and long-term plans can help ensure that children are prepared to manage and steward family wealth in the future
  • And more!

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