Today’s guest isn’t an expert on health… unless you’re talking about financial health! Ron Lieber has been the “Your Money” columnist for the New York Times since 2008. He also a dad, and wrote some incredible best-selling books about teaching kids to manage money and plan for their financial future. I especially love his book The Opposite of Spoiled and think it’s such a needed message for kids today.
Second to the birds and the bees conversation, this is probably one of the toughest topics for parents to address with their children. Today Ron gives guidance on when and how to start talking to your kids about money, and his approach makes so much sense as our kids prepare for adulthood in a fast-changing world.
Episode Highlights With Ron Lieber
- why so many parents feel uncomfortable teaching their kids about money
- what can happen if you put off the conversation for too long
- the reason to let your kids make financial mistakes… & why it’s so good for them
- why keeping kids in the dark about family finances may actually make them more anxious
- ways to help kids learn the difference between needs and wants (not a bad thing for us to learn either!)
- why today’s kids are more likely than ever to be unprepared for adulthood
- strategies for knowing when and how your child is ready for the big plunge: a phone and a car
- what our family will make our kids do before they can drive a car
- Ron Lieber’s thoughts on saving for college… it might surprise you!
- why it’s never too late to start talking about money as a family
Resources We Mention
Books by Ron Lieber
- The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money
- Taking Time Off: Inspiring Stories of Students Who Enjoyed Successful Breaks From College and How You Can Plan Your Own
- Upstart Start-Ups!: How 34 Young Entrepreneurs Overcame Youth, Inexperience, and Lack of Money to Create Thriving Businesses
Ron Lieber Quotables
“College is wasted on 18-year-olds. You should go do something else in the world for a year or two. You should start a business, you should serve your country, in some way, shape, or form. You should work and then take the money to travel or do something to support your family or volunteer work, you know, all sorts of things. You should go and get some experience out in the world that you can bring back to bear on your undergraduate education and I hope that everybody out there who’s listening, who thinks they have, you know, college-bound kids on their hands, will consider the possibility of a gap year.”
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Do you talk to your kids about money? What’s worked well for your family? Please drop a comment below or leave a review on iTunes to let us know. We value knowing what you think and this helps other moms find the podcast as well.
Many Thanks to Our Sponsors
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