Teaching Kids About Money with Neale Godfrey

Episode 91 | Profit Boss® Radio

Conversations about money are never easy, and talking to kids about money is no exception! This is one of the topics I get asked about most about, so I am thrilled to be able to bring to you the excellence and expertise of an incredible guest. If you are a parent or caregiver, your top priority is to make sure the child in your life is set up to succeed well into adulthood. Perhaps you have made some money mishaps that you insure your kids against. Maybe you just want to be proactive and start those money conversations early. Regardless of your motivation, it’s time to think critically about how to pass on smart money principles to the little ones.

My guest today is Neale Godfrey, an incredible asset to any parent thinking about money conversations with their children. Neale owns and operates Money For Life, and is the author of 27 books dealing with money, life skills, and important values. Neale was one of the first female executives at Chase, and is founded Children’s Financial Network INC. If all of those credentials don’t convince you Neale knows what she’s talking about, then her direct style of communication will.

Neale knows the only foolproof way to ensure that your financial legacy passes on to your children is to talk about it. Today, she will impart to you all the skills and strategies you need to have these difficult conversations. Whether your children are still little or entering into adulthood, Neale can share with you just what you need to set them up for success.

Listen To The Full Interview:

What You’ll Learn From This Episode:

  • Neale explains how she got into finances with women and children.
  • Neale shares her soft spot for inter-generational wealth.
  • The skillsets parents should impart to their children.
  • How chores can help you build spending habits.
  • Maturity builds up while habits build up.
  • No one has an intuitive sense of money, but it is something we can teach and learn.
  • Start teaching the lessons as children become aware of the issues.
  • Involve kids in the money planning conversations.
  • Some of Neale’s best examples of abundance and not going into debt.
  • Being free from the habits our parents taught us.
  • What to do to support your young adults in their early adulthood financial woes.
  • Direct and open communication is key. Neale shows us how.
  • Neale’s thoughts on a prenup.
  • Financial planning is a huge asset for you.

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