Why Parents Shouldn’t Tie Allowance to Chores – with John Lanza

It’s important to concentrate on our own financial situations, but as parents, we can’t forget to teach our kids the principles of financial literacy as well. These lessons can be taught by instituting an allowance program or chore and reward system.

John Lanza, the author of The Art of Allowance, joins us on the show to talk about how we can develop a system like this. The earlier parents start, the better off their kids will be.

As we start to make progress here, John has a key piece of advice for the parents out there: Don’t pair allowance with chores.

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Why Playing Games With Your Kids Will Save Them From Living Paycheck to Paycheck – with Paul Vasey

I’m all about giving my kids the very best in life. That all starts with equipping them with the ability to provide for themselves in the future. Basic financial literacy is a great place to start.

Given that 78% of Americans live paycheck to paycheck, according to CNBC, it is incumbent on us as parents to start the financial education process early so our kids will have better lives than we do.

There’s no one better to talk about these elementary (and crucial) math skills than Paul Vasey. Paul is the founder of Cash Crunch Games. This is a series of games for kids that teach money habits that will help them not live paycheck to paycheck and truly win in life.

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