In this episode of FI for Kids, host Dominic DeLaquil speaks with Jasper Smith, founder of The Build Wealth Movement, about the importance of financial education and open conversations about money within families. Jasper shares his personal experiences growing up in a household where money discussions were limited, and how this shaped his career in financial services. The conversation delves into the challenges of generational poverty, the need for financial literacy, and the role of education in breaking the cycle of financial anxiety. Jasper emphasizes the importance of empowering the next generation to take control of their financial futures and the impact of community support in building wealth. In this conversation, Jasper Smith discusses the importance of financial literacy in parenting and community engagement. He emphasizes the need for parents to provide their children with financial options and education from an early age, ensuring they have the resources to pursue their goals. Jasper also highlights his community work with organizations focused on financial literacy, advocating for collaboration to improve financial education in underserved communities. The discussion underscores the significance of open conversations about money within families and the impact of financial planning on future generations.

Takeaways

Open conversations about money are crucial for families.

Generational poverty can be disrupted through education.

Financial literacy is often lacking in families with higher education.

Risk-taking is essential for financial growth.

Investing should be seen as a normal part of life.

Time is a key factor in building wealth through compounding.

You can start saving for education early to avoid debt.

Community support plays a vital role in financial success.

Empowering children with financial knowledge is essential.

Breaking the cycle of financial anxiety requires open dialogue. Empowering children with financial options is crucial.

Parents should guide family members on supporting their children financially.

Financial literacy should be integrated into parenting.

Community engagement is essential for promoting financial education.

Collaboration among organizations can enhance financial literacy efforts.

Conversations about money should be normalized in families.

Financial planning can significantly impact future generations.

Investing early can lead to long-term benefits for children.

Parents should educate their children about managing money responsibly.

The goal is to create a culture of financial awareness and support.

Episode links:

https://www.thebuildwealthmovement.com

Book: The #BUILDWEALTH Challenge: 8 Challenges to Change the Way You THINK and FEEL About Money by Jasper Smith

Music: https://www.reverbnation.com/douglascameron

Sponsors: https://groovemoney.org/

https://singletonfoundation.org

Chapters

00:00 Introduction to Financial Independence for Kids

03:04 Jasper's Early Experiences with Money

05:55 The Journey into Financial Services

08:48 The Importance of Open Financial Conversations

11:54 Understanding Generational Poverty

14:59 Breaking the Cycle of Financial Anxiety

17:57 The Role of Education in Financial Literacy

21:07 Empowering the Next Generation

23:57 Building Wealth Through Community Support

33:32 Empowering Future Generations Through Financial Support

42:46 The Importance of Financial Literacy in Parenting

58:19 Community Engagement and Financial Education

01:02:23 The Impact of Collaboration on Financial Literacy