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

• https://www.arkfinancial.com/jeff-socha/
• ​​Back to School Challenge
• 10-day Budget Challenge