Episode 191: Want to Raise Financially Responsible Children and Teens? Teach These Simple Skills…

My guest this week is Scott Donnell. In this episode, Scott and I discuss how to teach children about money and finances so they can have a healthy relationship with money, develop initiative, be generous, and raise them into responsible adults with the financial literacy skills they need. Finances can be a taboo topic to some and unfortunately, it isn't required in the school curriculum, so as parents, we are responsible for helping our kids learn these skills so that we can minimize problems for them later on. It’s never too late to learn these important life skills, even as adults, with a few easy tips and resources, your child can be fully financially capable by the time they are a teen.   Scott Donnell is a serial entrepreneur who has dedicated his life to both physical and mental health. He's the founder of Apex Leadership Company, a fitness fundraising and leadership program for elementary schools nationwide. Apex has net profited $110 million for schools and now has 55 franchises and 3.6 million customers across the nation. Scott is also the founder of the Hapbee, which is a wearable tech specializing in ultra-low frequencies and can record small magnetic fields from chemical solutions. Its ability to play safe low energy, magnetic signals enable it to replicate feelings, such as happy, alert, relaxed, calm, and sleepy. It's one of my favorite wearables, (maybe we will do a different show on that). Currently, Scott is working on a project called GravyStack, the platform to raise financially capable, generous self-starters. He is also a dad.   Episode Takeaways: Episode Intro … 00:00:30 Introduction to Scott Donnell … 00:01:30 Need for Financial Literacy Starting in Youth … 00:04:00 If You Don't Master Money, it Will Master You … 7:24 Teaching to be Financially Smart, Not Spoiled … 00:10:30 Finances are the Biggest Problem with Married Couples … 00:14:05 Tangible Practices to Teach Financial Literacy … 00:18:30 Using GravyStack or Physical Jars to Teach … 26:50 Quiz to Find out Beliefs You Have Around Money … 00:31:21 Free Business Fair for Kids to Learn Safe Business … 33:56 Adult Resources for Learning Financial Literacy … 00:37:45 Episode Wrap up … 00:43:16 Connect with Dr. Nicole: Instagram Facebook Drbeurkens.com