—Guest: Paul Vasey
—Topic: Teaching Kids About Money
Bethany and Ellie talking about a summer when Bethany and her brothers were growing up. Ellie tells an endearing story about the youngest Kay, Joshua, and how he earned money for a t-shirt. Bethany was the baby-sitter before her first job at Blockbuster. They talk about how you can teach children about money even at a young age.
Paul Vasey joins the conversation sharing his approach to teaching children about money through games. He said this was his approach to teaching kids at a young age so they don’t grow up to going into debt. According to Paul, parents should be talking to their children about money from day one because children understand and observe very early, which is why parents should be a good example for their kids. In a game situation, they are teaching kids money habits and opening up conversations between parents and their kids. He also gives great tips about saving money and how you can teach your children about money principles.
Bethany and Ellie finish up the show with discussing the value of money, and Bethany remembers how Ellie put an emphasis on safety when her kids were growing up. They revisit the discussion of college—should parents pay for it, or should children earn it?