picture of Jeff Socha

Teaching Kids About Money

Bobbi Olson Podcast

Jeff Socha, Senior Advisor and Founding Partner at Ark Financial, talks about kids & money – how and when should you begin teaching them financial literacy? An early start can help them begin their adult lives with the knowledge and resources to help them avoid becoming a slave to money. 

In This Episode

  • Allowance – cash or credit card?
  • Kids with credit cards – teachable moment, or disaster in the making?
  • Rewards programs versus traditional allowance
  • Managing cash in a digital world
  • The importance of teaching kids to track their spending
  • Financial education starts at home.
  • The power of compound interest & saving early
  • Understanding student loans – before you sign on the dotted line
  • When kids start asking for money, it’s the right time to teach them financial literacy.
  • Tough love is an important part of empowering kids to manage their financial lives.
  • Benefits of a financial advisor
  • Resources are not just about dollars and sense; get creative!
  • CentsAble Bobbi discusses how budgeting can help you deal with the emotional side of money and how to think creatively, to avoid debt.

Links & Resources

Christmas Budget Bite Video