Finance & Fury Podcast

Welcome to Finance and Fury, the Say What Wednesday edition. This week’s question is from Ruby. “I was speaking to my husband and we want to help financially prepare our children and I am just wondering if you have any strategies to help with this?” Thanks for the great question - Depends what you mean by preparing for your kids financially – Two ways to view this – the monetary side - i.e. them having access to funds or having expenses covered for how they value money – which comes back to the financial education side of the equation In my view – giving kids all the money in the world without the educational side can set up children for a worse outcome in life – without understanding value of money it can create – Talked about how to do this in a previous episode - Why is talking to your kids and family members about money so important? – where it was mainly about misconceptions – and using monopoly as a good tool as opposed to the zero-sum game it instils How to educate children financially – As a p