Episodes

  • Overcoming Roadblocks to Teaching Kids Financial Lessons

    Overcoming Roadblocks to Teaching Kids Financial Lessons
    May 20 2024
    Overcoming Roadblocks to Teaching Kids Financial Lessons Intro: So, you got some cash, maybe from an allowance? Or, that money your grandma gave you for your seventh birthday. Here ya go, sweetie! Woo hoo! Thanks, Grandma! Whatever it is, what are you gonna do with it? Spend it? Hide it away? Or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a Cash Kid. What's up Cash Kids and here's a fun fact for y'all. Did you know that 57% of parents have some reluctance to discuss money matters with their kids? And 50% of America's youth will learn less than their parents? That doesn't sound right. So, joining us today is the financial "dadvisor", Anthony Delauney. Mr. Delauney is a certified family financial planner, and a behavioral financial advisor, and the author of the award-winning "Owning the Dash" children's book series. He's joining us today to talk about some of these roadblocks to teaching kids financial lessons today and how a more cashless society can be a challenging way to make money tangible for kids. Plus, we'll discuss his book series and stay tuned to the end for a free giveaway. Welcome to the show, Mr. Delauney, and first off, tell us a little bit about yourself. Anthony Delauney: Thank you so much for having me. Um, so I have been a financial planner for the past 21 years. I started it right out of college, and I discovered pretty early on that I loved helping families. Since I started, I got married, had children, bought my first home, bought another home, went through all those fun stages, and realized that, um, it's hard enough to figure out stuff on your own, but when you've got to figure it out as a family, it gets really crazy. And when it comes to talking to your kids about it, it gets even crazier. Cash Kid: Mr. Delauney, we started to talk about how 57% of parents are reluctant to discuss money matters with their kids. Why do you think this is the case? Anthony Delauney: The simplest answer I can give you is, I have spoken in front of adults, uh, for some time, for 20 plus years, and I am more nervous about this interview speaking to a child than I am speaking to adults. And I think that part of the reason that it's so hard for a lot of kids to learn about these things is because parents don't know what to say or afraid of what to say. And sometimes we're intimidated around even having the conversation. They don't want to mess up for their kids. Cash Kid: That's a great point. Why is it crucial that financial planning be a family affair? Anthony Delauney: It's important because the sooner we start talking about these lessons and kind of getting the real basics of how life works, investing and all that stuff is really important, but really understanding how a budget works, understanding how money works, understanding how to live life on your own, the sooner we can start instilling those lessons and teaching them, just like brushing your teeth. As soon as you start to learn that, it becomes a habit, it becomes a ritual, and you become, it's part of your life. If we don't teach those lessons early enough, it becomes much harder to learn them later in life. And, once kids are on their own, it's, it's, we don't have as much involvement in the lessons that they learn. Cash Kid:: Totally agree with that. And so, what tips do you give parents to start the conversation with their children around money? Anthony Delauney: Sure. So, I think the most important part is, just like this conversation today, You are, you're the cash kid, but you have an intrigue. You have a desire to learn. And most children do have that desire. Even as very young children, kids want to play grownup and want to do the different activities that they mimic their parents, the good and the bad parts of what their parents do. So, um, if we can, when it comes to talking to our children, treat them like many adults, treat, treat them, like respect them. Okay. not judge them. I think that's the biggest part is when it comes to having these discussions, we want to be there for them. Let them know that they can they're in a safe environment where they can talk about things where they can ask questions where they can fail. But if they do fail, parents have to be really mindful of how they react because the kids are not only focusing on the lesson being learned, but how are my friends, my family and others treating me? Based on my response and my questions and my, you know, my mistakes. Cash Kid: I totally agree with that statement. So do you have any financial lessons to teach elementary or teenage children? Anthony Delauney: So I've had for, as I mentioned, being an advisor for 20 years, for families, I get the question a lot. How and when do I start talking to my kids about these various topics? And one thing I've noticed as a parent and as a, an advisor is that sometimes when we ...
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    16 mins
  • The Cost of a Puppy-Financial Freedom-Financial Mindset

    The Cost of a Puppy-Financial Freedom-Financial Mindset
    May 6 2024
    A one-time expense vs an ongoing cost. Do you know the difference? In this financial podcast episode with the Cash Kid, he'll explain why understanding this concept can help us achieve financial freedom and independence earlier in life. This is a way to help the next generation by building wealth instead of debt. Plus, a new segment on the show called "Stock Talk!" Listen in as the Cash Kid helps shape our financial mindset to think before we buy. Want to learn more about the Cash Kid? Visit our website and join our mailing list at: www.cashkidpodcast.com Also, check out our Cash Kid Merch store! Transcript Intro: So, you got some cash, maybe from an allowance? Or, that money your grandma gave you for your seventh birthday. Here ya go, sweetie! Woo hoo! Thanks, Grandma! Whatever it is, what are you gonna do with it? Spend it? Hide it away? Or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a Cash Kid. Welcome back to season two of the Cash Kid Podcast. Last episode we celebrated our one year anniversary mark and now we are charging forward with more topics and skills to learn and teach. If you aren’t already, please be sure to follow us today on Instagram and Facebook @cashkidpodcast. Also, head to our website and be added to our mailing list. This is a great way to be a part of the Cash Kid movement to empowering the next generation to build super financial skills at a younger age. This week, our episode is “The Cost of a Puppy.” We’re not going to just talk about puppies… even though, that would be cute and fun. Our focus is discussing the difference between a one time purchase and an on-going purchase. Do you know the difference? Many times as kids, because we don’t pay the bills, we might not understand this concept and have to be enlightened by an adult of the difference. But, knowing what’s a one time purchase vs. an on-going purchase is a concept we need to understand, especially before we find ourselves in debt and having to sell back the thing we purchased. Yep, it happens. So, let’s talk about it. What’s considered a one time purchase? A car or a video game? A bike or a cellphone? A puppy or a remote control car? Let’s start with a bike vs. a cellphone. Before I knew better, I used to think you just purchased a phone and that was it. But then my parents talked to be about how a cellphone is not a one time purchase. In fact, just this past week, my nine-year old brother saw this ad where you could purchase an iPhone 14 for just $5.99. He was like, “See Mom, I can afford that?” My Mom then explained to him to look at the fine print. Yeah, it’s that much smaller writing under the large discount price in bold that states it’s $5.99 a month for the next 36 months under a contract with that cellphone carrier . Then Mom explained how you’ll also need a cell plan to go with that which can cost upwards of $30 dollars or more per month. See a cellphone, while to a kid it just seems like an object you buy once and that’s it, is actually an on-going monthly expense… usually for your parents at this age. My brother’s not getting a phone… Now a bike on th other hand, it’s a one-time purchase. Except for the time I wrecked mine and we had to spend a little extra to get it fixed. But asking your parents for a bike is different. There may be some repair costs at times. Like a new tire or brake, but it doesn’t have an ongoing expense like a cellphone. We’re going to talk about that puppy and the debate in our house over having one, coming up. More purchase comparisons on the way. (Music interlude) It’s time for a new segment on the show called “Stock Talk.” If you follow us on social media, you’ll see I like to talk about stocks. Following different companies stock prices, what’s going on in the news about their company, and seeing the prices rise and fall excites me. I’ve found more and more of my peers asking me about the stocks I’m interested in. Why I’m invested in them? And how do I invest? Now, I’m not an advisor, but I’m trying to teach my friends and our audience how you can research companies and stock yourself. So, each episode I’ll hit on a stock either I’m watching or researching and why. This week, since we just finished talking about a cellphone, let’s look at Apple. Apple became a publicly traded company on December 12th, 1980. Their stock price started at $22.00 per share. Apple’s stock has split five times since it went public. This increases the number of shares in a company and makes the price per share at a more affordable cost for investors. To purchase a share today would cost you $173. If you had purchased a share of Apple just three years ago at the price of $131 dollars, you’d be up $52 dollars at this point. And ...
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    9 mins
  • One Year of the Cash Kid!

    One Year of the Cash Kid!
    Apr 15 2024
    It's our anniversary! We're celebrating our first anniversary of starting this podcast with a talk with the Cash Kid on what he's learned from this experience, a recap of this last year, and what's in store for the future of the Cash Kid Podcast. Plus, a couple of announcements near the end of the episode (and bloopers!) Listen in, the Cash Kid Podcast is underway. Learn more about your ad choices. Visit megaphone.fm/adchoices Transcript Intro: It’s our anniversary. This week we are celebrating the 1-year anniversary of the Cash Kid Podcast. We could not be more excited to have you join us on this financial journey as we work to build super financial skills for the next generation. How did this podcast get started? Where are we headed? And what I have I learned from this experience? Plus, some bloopers to share from recording this last year. And stay tuned to the end for two special announcements as well. We’ll discuss it in this special anniversary episode. Stay tuned. The Cash Kid Podcast is underway! Intro tease: So, you got some cash, maybe from an allowance? Or, that money your grandma gave you for your seventh birthday. Here ya go, sweetie! Woo hoo! Thanks, Grandma! Whatever it is, what are you gonna do with it? Spend it? Hide it away? Or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a Cash Kid. Welcome back to this special episode of the Cash Kid Podcast. I can’t believe it’s already been one year since we launched this podcast. This podcast started as part of a school project. In the 5th grade, I was asked to create a passion project. And for some reason, starting a podcast came to mind. The first four episodes were really just me talking about what I’m passionate about and scripts I wrote while in class. We may actually go back soon and revise those some as they were written before we had a clear mission statement… or knew we were going to continue the podcast after the school project. We got such great feedback on our first episodes and were told by many we should continue the podcast but we needed a clear mission for our audience. So, after producing 7 episodes for 7 weeks my Mom said, “I think we need to seek some advice and get some help.” And so, we used my summer break to meet with a podcasting expert and get some guidance on what steps we needed to take to grow this podcast. We set-up our website, cashkidpodcast.com, and a YouTube channel to publish our episodes. We started an Instagram page as well. But the main focus, was putting a plan together of where we wanted to take the podcast. The mission was clear to me. I wanted to teach kids and adults the financial literacy skills they need to start saving and investing money early. My goal is to help my generation grow the greatest wealth with a slow and steady approach and be the most financially literate. No get rich schemes here. Since then we completed season 1 with 15 episodes. Then we launched season 2 which was all about building “Super Financial Skills.” This is currently episode 17 of that series. So far, we’ve interviewed 15 different guests on the show that represent a wide range of individuals from a kid running his own car detailing business, to a financial advisor, tax expert, a high school finance teacher, book authors, and CPAs running their own training courses to help others get out of debt and start investing. I have learned so much! And it’s affected how I invest and think about money. What have I learned? I’ve learned that running a podcast is harder than it looks. There are numerous aspects beyond just recording audio. And talking into a microphone takes some training. There may be a few blooper clips added to the end of this episode. My Mom likes to torture me and save them. So stayed tuned to the end. She said I’ve gotta learn to laugh at myself when I make these mistakes. Running a podcast has taught me you must remain persistent and continue to think outside the box. It takes planning and learning new skills. I’ve had to learn how to write more and write faster than others my age. I’ve had to learn how to communicate confidently on-camera, plus interview skills, and editing skills in creating content to post on our social channels. We also went from producing audio only podcasts to now an audio and video format these last two months. Where are we headed now? In future episodes, we’re going to focus on ways kids can make money. We plan to interview what we consider to be fellow Cash Kids who are using their skills and entrepreneurial mindset to make some cash, while still kids. We’ll continue to build super financial skills by helping you all break down financial terms and understand what your options are. We’re going to continue talking with others on how to push for more financial education in our schools. We want to make money a ...
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    8 mins
  • Wealthy Kids Investment Club

    Wealthy Kids Investment Club
    Apr 1 2024
    In this episode, we capture an inspiring interview with Maya Corbic, CPA, who started the "Wealthy Kids Investment Club" to help parents and kids learn how to be smart with money early. Hear her incredible life story and what she's doing to equip parents with the tools to raise money smart kids. Stay tuned, the Cash Kid Podcast is underway! Learn more about your ad choices. Visit megaphone.fm/adchoices Transcript Wealthy Kids Investment Club Teach.Kids.Money It only takes one person to change the generational wealth trajectory of the family. Let that person be you. Welcome to another episode of the Cash Kid Podcast, where we focus on building super financial literacy skills for kids and teens to build a greater financial future at a younger age. If you aren't already, follow us on social media at CashKid Podcast and subscribe to our mailing list at CashKidPodcast. com. We have another special guest on the show today who works to change the generational wealth trajectory of families. Parents, you'll walk away from this episode feeling you have the resources to change your financial journey and that of your children. Stay tuned. The CashKid Podcast is underway. So, you got some cash. Maybe from an allowance, or that money your grandma gave you [00:01:00] for your 7th birthday. Here you go, sweetie! Woohoo! Thanks, Grandma! Whatever it is, what are you going to do with it? Spend it? Hide it away? Or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a cash kid. Joining us today is Mrs. Maya Corbic. Mrs. Corbic is the founder of Wealthy Kids Club from her Instagram page, teach. kids. money, where she has over 133, 000 followers and growing. She provides some solid advice and steps parents can take to teach their kids about money and investing together. Mrs. Corbic, welcome to the show. Cash Kid: And first off, tell us a little bit about yourself. Maya Corbic: Okay. Well, thank you for that lovely introduction and thank you for having me on the show. So a little bit about me, I am first generation immigrant. [00:02:00] I immigrated from war toward Bosnia when I was almost 15, uh, with both of my parents and my brother, we lost everything in the war and we immigrated with two suitcases and 50 and I lived in government shelters, government housing, and when I was a teenager, I even had two part time jobs. So, um, I learned how to hustle and I worked very hard, um, to, you know, become, you know, in a better financial position. So I became a CPA and, um, when I got married, I had some student loans and so did my husband and we ended up paying off all of our debt, uh, including our mortgage by the time I was 32, because we were very disciplined with money. And at that Point in time, I, um, decided that it was really important to start teaching my own children about money. Uh, but also being a CPA, I learned from some of my clients that they were struggling with money. So I realized that the [00:03:00] root of all that struggle really started in childhood because a lot of the clients that I had were struggling with money because nobody ever taught them about money when they were growing up. Cash Kid: That's really an interesting story, and we definitely agree with you on your point. So, where did you get the idea to start Wealthy Kids Club? Maya Corbic: So, Wealthy Kids Club only, uh, was only started about three years ago. Uh, before that, for the past 11 years, I have been teaching parents about money, by going to schools and doing workshops. But then with pandemic, all that changed because I wasn't able to go into schools anymore. So I started doing more online workshops and still access the parents and classrooms that way. But then, um, I also started my, uh, Instagram account, teach. kids. money. And. When I was actually posting on that account, I realized that a lot of parents were coming [00:04:00] back to me because they were struggling with, uh, investing and how to teach their children to invest. Um, a lot of them were able to teach their kids, you know, the difference between needs and wants and budgeting. But they just did not know how to teach investing. And I realized that this is where a lot of parents needed help. They needed to learn some of the basics themselves so that they could teach those basics to their kids. And that's how Wealthy Kids Investment Club was born. Um, and, um, you know, I started that membership. I tried to make it accessible to everybody, um, regardless of where they are, um, you know, in the globe. Cash Kid: Yeah, tell us about your club and what parents and kids can expect to learn. Maya Corbic: So the club, uh, it's actually currently undergoing a big facelift, uh, but, uh, essentially in the club, you start off as somebody who is intimidated, uh, an intimidated investor, and then you learn some [00:05:00] basics, uh, in terms of what investing really is and you That's not as scary as it first may seem to be. And then you ...
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    16 mins
  • Girls On The Money (And Boys too)!

    Girls On The Money (And Boys too)!
    Mar 18 2024
    Live frugally, save abundantly, invest intelligently. Join us as we interview special guest Mabel Nunez, the founder of Girlsonthemoney.com, where she shares her investing success journey and how she's helping others boost their investing knowledge. The Cash Kid Podcast is underway! Learn more about your ad choices. Visit megaphone.fm/adchoices Transcript Live frugally, save abundantly, invest intelligently. That’s our guests’ motto on the show today. Welcome back to another episode of the Cash Kid Podcast where we continue to build super financial skills. If you aren’t, please be sure to follow us on social media. Just search Cash Kid Podcast or on our website at CashKidPodcast.com. Cash Kid’s we’ve got a special guest on the show whose story is inspiring and motivating to learn how to invest. Parents, there’s an investing course for you to learn about as well. Listen up! The Cash Kid Podcast is underway. Cash Kids, we've got a special guest on the show whose story is inspiring and motivating to learn how to invest. Parents, there's an investing course for you to learn about as well. Listen up, the Cash Kid podcast is underway. So, you got some cash, maybe from an allowance? Or, that money your grandma gave you for your seventh birthday. Here ya go, sweetie! Woo hoo! Thanks, Grandma! Whatever it is, what are you gonna do with it? Spend it? Hide it away? Or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a Cash Kid. Cash Kid: Joining us today is Mrs. Mabel Nunez. Mabel Nunez is the founder and CEO of Girls on the Money, with over 60, 000 on her Instagram page alone, and 10, 000 members on her Facebook She's a blogger and investing educator whose mission is to teach everyday people how they can intelligently invest too. Welcome to the show. And first off, tell us a little bit about yourself and your story. Mabel Nunez: Hi, Cash Kid. I'm very excited to be here inviting me and I guess I can say I can start with the fact that I wasn't born in the United States. I was born in an island in the Caribbean called the Dominican Republic and I moved to the States when I was 9 years old and from a very young age. My parents always taught me. The importance of saving money and, you know, being careful with credit cards, things like that. Um, but it wasn't until I went to college my, my last year of college, my senior year when I discovered the stock market and investing and I. You know, fell in love with it and became obsessed with it. Um, but, you know, it wasn't something that I learned at home. I learned that when I was already in school, but I'm very grateful and blessed that even though I didn't know how to invest from a young age, I still kind of knew the basics of personal finance from my parents. I grew up in a very, um. Um, I guess poor household because we were immigrants. So we had limited resources and things like that. So we had to kind of make do with what we had. And then later on when I, you know, made my own money and started investing, I discovered, you know, this whole new world. So that's kind of how things started off. Cash Kid: That's really interesting. Tell us about Girls on the Money and why you started this site. Mabel Nunez: So I started Girls on the Money because when I started to invest, um, And I became obsessed with it, like I said, I noticed that a lot of my friends, my female friends weren't into investing, or they found investing intimidating, or they were, they thought it was too complicated. And most of the people that I will talk to about stocks and funds will be my male friends, my guy friends. Because they were the ones into it. Um, so I thought, you know, there was a disconnect there. You know, I wondered why weren't more women talking about investing? Why were they so scared of it? So it kind of like, you know, it was like a light bulb moment for me to, okay, I need to create a community or a platform that increases the confidence of women to start investing or, you know, girls. Even though, like I say on my website, I don't discriminate if like, you know, guys want to learn too. Like that's fine. I welcome them. But my, the majority of the people that I target are female. Cash Kid: Yeah. I love how on your site you talk about investing being your passion. That's how I started my podcast as it was part of a passion project. We were assigned that school. Why is investing your passion? Mabel Nunez: So investing is my passion because, um, I guess it first started with my professor, my college professor that I mentioned before my senior year. He, uh, kind of explained to us how anybody with any income can become a part owner of companies. You know, major companies, you know, like the McDonald's, the apples, the Microsoft. So I was like, very impressed by the fact that wow, like me, like an average person, you know, with an average ...
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    17 mins
  • Kids Buying Stocks and Investing

    Kids Buying Stocks and Investing
    Mar 4 2024
    Can kids start investing in stocks? Absolutely! The world has changed and kids at a younger age can start investing some of that allowance and birthday cash to start growing their money earlier in life. Learning this financial term as kids can have a huge impact on the financial future of any generation. Tune in to hear how the Cash Kid invests and how to be an informed investor. The Cash Kid Podcast is underway! Learn more about your ad choices. Visit megaphone.fm/adchoices Transcript Alright, today Cash Kids, we are diving into one of my favorite topics: Investing and stocks. What does investing mean? What’s a way a kid can invest and purchase stocks? Keep listening. We’ll answer those questions and more coming up. Let’s learn how to grow your money using these essential financial tools. Stay tuned the Cash Kid podcast is underway! Intro tease: So you’ve got some cash. Maybe from an allowance, or that money your grandma gave you for your 7th birthday. Here you go, sweetie. Thanks, Grandma. Whatever it is, what are you going to do with it? Spend it, hide it away… or maybe invest it? Let’s start learning how to make that money grow. Time to learn how to be a cash kid. Since launching this podcast almost a year ago now, I get asked a lot about investing, what stocks I like, and where do I invest. My mom says there are some odd conversations that happen in our house at times regarding stocks. I don’t know what she’s talking about. [Mom: What do you mean? I’ll be cooking dinner only to turn around and you and your 9-year-old brother are discussing the gains and losses of a company over the last six months and whether not now is the time to buy. I’m sorry, it may be the new norm in our house… but that’s not the norm in other homes. I mean, how do I write that down in a baby book. Kids discussed Apple stock today. Looks like Johnnie is finally ready to buy that first stock. I mean, come on, it’s a little surreal at times in our house.] Well, I’m working to make it more the norm Mom. If you haven’t figured it out by now episode 28, I like stocks and any way to make money grow without doing much. So, let’s start with the basics. What does the term investing even mean? Investing is when you spend money with the expectation of achieving a profit. Lots of our parents like to watch these HGTV home renovation shows. What are these folks mostly working towards when they “invest” in buying one of these fixer upper homes? They are looking for that investment (or money spent into buying the home) to fix it up and then make a profit. In the stock market, when you invest, you are putting money into a company or companies with the expectation you’ll receive a profit in return down the road. I like the way wikipedia describes an investment as a commitment of money to receive more money later. So, one thing to remember as kids, investing is not a short term game. You are putting money in an account to let it sit and grow overtime. My focus on the Cash Kid Podcast is to help get this concept across to my peers that “time” is exactly what’s on our side. Now, how do I invest? I get asked this a lot. I use an app called Greenlight. Greenlight is a debit card and money app for families, that’s managed by parents. It gives parents tools to manage and monitor their kids spending. You can transfer money straight from a checking account to the kids account on Greenlight. You can pay an allowance this way, assign chores, set savings goals, donate to charity… and my personal favorite… buy stocks. Within the app I can research stocks and ETFs, and mutual funds. I can view charts, buy and sell stocks see how much the stocks are gaining or losing money. The accessibility on this app is amazing. Also some shares can cost hundreds to thousands of dollars and some kids just don’t have that kind of money. So on Greenlight, you can buy partial shares so you always can invest even when you don’t have the money to buy a full stock. I do all my buying and selling within the app. Since then, I’ve had sometime already to watch the stock prices go up and down and gotten more patient with what I buy and sell. I’m reading books more and doing more research to save up for stocks I want to be able afford stocks I feel will give me a profit from my investment. My parents for Christmas this past year gifted me a subscription to the Wall Street Journal and Barron’s. I get up some mornings just to read about different stocks and businesses to see what’s happening. Part of being an investor is being informed of what’s going on in the world. Mrs. Wanda McAbee, the Executive Director of the Alabama Council on Economic Education, addressed this in a previous episode in regards to playing the stock market game. Here’s a refresh of what she had to say: Wanda McAbee: “But stock market game is the perfect example of finding a way to help students see the real world connections....
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    8 mins
  • Debt Free Millennials

    Debt Free Millennials
    Feb 12 2024
    We have another special guest on the Cash Kid Podcast! Justine Nelson is a book author and founder of DebtFreeMillennials.com. She published a book called "Investing for Kids Activity Book" which has 65 activities on how to teach your kids about money and how to start investing it early. The Cash Kid and Justine are two people trying to change the financial path of their peers. Listen in, the Cash Kid Podcast is underway! Learn more about your ad choices. Visit megaphone.fm/adchoices Transcript Cash Kids, we have another special guest on the Cash Kid Podcast today. Just like I’m trying to reach my generation to build a better financial future, she’s dedicated to changing her financial direction of her. She’s someone who self-taught herself to become a financial expert and wrote a book to help us Cash Kids do the same. Stay tuned…The Cash Kid Podcast is underway! Intro tease: So you’ve got some cash. Maybe from an allowance, or that money your grandma gave you for your 7th birthday. Here you go, sweetie. Thanks, Grandma. Whatever it is, what are you going to do with it? Spend it, hide it away… or maybe invest it? Let’s start learning how to make that money grow. Time to learn how to be a cash kid. Joining us today is Mrs. Justine Nelson. Justine is the founder of Debt Free Millennials and YouTube channel aimed at helping millennials improve their financial situation. She is here to tell us about her financial education book for kids, what she's doing today to help fight for more financial education, getting millennials out of debt, and much more! Welcome to the show. And first off, tell us a little bit about yourself. Justine Nelson: Thank you so much for having me. This is so awesome. Glad to be on the show. My name is Justine Nelson. I am the founder of Debt Free Millennials and I help millennials crush debt achieve financial confidence that leads to more fun and fewer payments My journey with personal finance actually started when I was a sophomore in college, I was doing my homework at the time when I got a phone call from my mom. And she told me that she and my dad could no longer support me financially through school because she had been laid off from her job. So, I was really panicked on what to do, and trying to figure out how he's going to afford college tuition. So I did what any other college student did at that time, which was to walk down to the student financial aid office and asked to take out more student loans. By the time that I had graduated, I was $35,000 in student loan debt. And I was just making $10 an hour at my very first job, which wasn't a lot of money to cover my student loan payment, and do all of the things that I wanted to do. After college, I wanted to live in an urban city and a high rise apartment. I wanted to go out for sushi and have lots of fun traveling. And I wasn't sure how I was going to do that, with so much student loan debt. So it was then that I decided that I needed to take financial ownership and pay it off really, really fast. Cash Kid: We purchased your book “Investing for Kids Activity Book” last year and loved it. We even inspired some of our previous episodes based off the boo. Tell us why you chose to write this book. Justine Nelson: I chose to write investing for kids the activity book because when I was 10, 12 years old, I didn't have a really good understanding of money. In fact, I thought money was a little mysterious. I had no idea how to earn it, how to keep it. And the only basic teaching principles that I knew from my school was how to write a physical paper check. I don't know if you remember those. But that was the only teaching that I had from school was learning how to write a physical check, and how to cash that in. And really finances so much more than than writing physical checks. And I'm not sure if a lot of people do that anymore. So money is constantly evolving. And I wanted to write this book as a way to guide individuals and kids on how to access money, invest it and grow it. Cash Kid: So tell us about your website and YouTube channel Debt Free Millennials. Why did you start this initiative? Justine Nelson: Yeah, so going back to my story. I eventually paid off all of my student loan debt in two years, five months on a $37,000 salary. And through that journey, in my experience of being very disciplined with my budget, learning how to invest and really making strides in my career to earn more money, I found more and more of my friends and family were coming to me for financial advice. So, I decided to start a business out of it. And one thing that really attracted me about running my own business was that I could use whatever platform that I wanted, which I love that you're using a podcast. And for me, a YouTube channel was the perfect match for somebody who enjoys being on camera talking about financial topics, and helping others hone their skill set and financial literacy. Cash Kid: What's the ...
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    14 mins
  • Money, Makes Money, Makes Money

    Money, Makes Money, Makes Money
    Jan 29 2024
    Is your money making you more money? If it's not, you are harnessing the power of our next financial term, "compound interest." In this episode, we brought in book author and financial expert Brian Feroldi to explain to us how compound interest works. Not understanding this term could cost us all big bucks down the road. Don't miss out and listen in to find out how money, makes money, makes money in this episode of the Cash Kid Podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices Transcript Welcome back Cash Kids! Alright, I’m going to get serious… listen up. We’ve hit on many financial terms this season already. But today. Today’s term is one that many, many, lose lots of money without even realizing it because they don’t understand how it works. If we Cash Kids can understand the power of “compound interest” early in life… guess what, we’ll have more later in life. And I’ve got a great financial expert and book author here to break it all down for us. Brian Feroldi is the author of the book, “Why Does the Stock Market Go Up?” We loved this book in our house and Brian agreed to come on the show to talk about it. Stay tuned, please… it’s a matter of big bucks down the road. The Cash Kid Podcast is underway! Intro tease: So you’ve got some cash. Maybe from an allowance, or that money your grandma gave you for your 7th birthday. Here you go, sweetie. Thanks, Grandma. Whatever it is, what are you going to do with it? Spend it, hide it away… or maybe invest it? Let’s start learning how to make that money grow. Time to learn how to be a cash kid. So joining us today is Mr. Brian Feroldi. Brian is a financial educator, podcaster, YouTuber, speaker, writer and author. Mr. Brian’s vision is to spread financial wellness, which is exactly what us Cash Kids need. Welcome to the show Brian. And first off, tell us a little bit about yourself. Brian Feroldi: Well, thank you for having me. It is a true honor to be here. I myself graduated from college in 2004 and I really put that down as the mark of the start of my money journey. Prior to that, I was taught absolutely nothing about about money growing up, despite graduating with a degree in business. I was taught next to nothing about personal finances. I was taught next to nothing about the stock market, about compound interest, about the basic principles of spend less than you earn, invest the difference, and grow your wealth. Now, after college, my dad handed me a copy of a very popular book back in 2004 called The Rich Dad Poor Dad, by Robert Kiyosaki. And that book was the first book I ever read that opened my eyes up to the idea that anybody can build wealth. Anybody can become wealthy in one generation. And importantly, rich people think differently about money than middle class people, and poor people do. And that book opened my eyes to the power of compound interest, introduced me to people like Warren Buffett and Peter Lynch. And that really kickstarted a love affair with everything related to money, personal finance and investing that continues to this day. So for the last 20 years since I launched that book, I have been doing everything in my power to educate myself and take that information, to educate other people about how to do better with their money. Cash Kid: All right. That's amazing. So first off, tell us about your book, “Why does the stock market go up?” Brian Feroldi: So I have been voraciously reading books about money and investing for, again, the last 20 years. One question that I always had about investing in the stock market is that lots of books I read essentially said the same thing. The stock market is the greatest wealth creation machine ever. The stock market grows at a compound annual growth rate of about 10% per year. And every time the stock market crashes, don't worry, that's the time to buy. The stock market will always come back. I bought that hook line and sinker. However, I didn't understand a fundamental question despite reading those great books. And that was I could see the long term chart that showed the U.S. stock market going up and to the right continually for decade after decade. But it was never explained to me why that happens. And I was always taught as a kid, what goes up must come down. So every time the stock market crashed, as it did in the year 2000, as it did in the year 2008, as it did in the year 2020, I always thought, Well, that's it. It's crashing. Why on earth would this stock market come back and continue on to a new high? So I wanted to answer that question fundamentally for myself and really get into the crux of why. Why does the stock market go up? So that was the that was the reason that I wrote the book, is that no such book like that existed. Cash Kid: Yeah. You cover a lot of topics in your book, but today we want to refocus on the financial term, compound interest. What would be the...
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    21 mins