Ep. 006: Kids and Financial Literacy with Beth Kobliner
This week on "Better Off," we’re talking to Beth Kobliner, author of "Make Your Kid A Money Genius (Even If You're Not)," about having the money talk with your kids.
This article originally appeared on Jill Schlesinger’s LinkedIn.
You will often hear me say that before you worry about the financial future of your kids, you need to make sure you’re taking care of yourself first. But that doesn’t take you off the hook for discussing money with your kids.
Think of it as another one of the talks…so now in addition to the sex talk and the drug and alcohol talk, we can add the money talk. All of these conversations must occur at every stage of your child’s development, with age-appropriate messaging that the kids can absorb.
To help with your effort, this week we’re talking to Beth Kobliner, author of “Make Your Kid A Money Genius (Even If You’re Not): A Parents’ Guide for Kids 3 to 23.” Okay, okay, full disclosure, she’s also a friend of mine.
But that’s not why Beth is on “Better Off.” She’s on because it’s an important topic. I know there are a lot of you out there who subscribed to this podcast, with kids or thinking about starting a family, wondering how to have such conversations:
How much debt should we take on for college?
Should I give my teen a debit or credit card?
Should I give my child an allowance?
My kid wants to move back home…should I charge rent?
Those are just some examples and there’s plenty more in the book. Whether you’re a rookie in the parenting game or a veteran, this book will help. As Beth says, “Think of it as a guide for parents that offers the financial facts of life for kids 3 to 23.”
And FYI, Beth is the real deal. In 2010, she was selected by President Obama to be a member of the President’s Advisory Council on Financial Capability, where she created MoneyAsYouGrow.org. The site attracted more than 1.4 million visitors and was adopted by the Consumer Financial Protection Bureau in 2016.
So whether you have kids, are planning on it or know someone with kids, I encourage you to check it out. It’s never too soon to start the money talk with your children.
The opinions stated on the Better Off podcast are those of the host, Jill Schlesinger, and her guests, and not those of Betterment or its employees. Any third party links provided are offered as a matter of convenience and are not intended to imply that Betterment endorses, or is affiliated with the owners of or any information contained on those sites, unless expressly stated otherwise. Listen to a preview and subscribe to “Better Off” here.
More from Betterment:
- Ep. 003: Misleading Numbers in Elections and Investing with Harry Enten
- Ep. 004: Build Your Dream Network with Kelly Hoey
- Ep. 005: Fiduciary Standard Under Fire with Megan Leonhardt and Jack Otter
Health Savings Accounts: The Sharpest Tax Tool In The Shed?
As an investor, you may be thinking about funding an HSA but are unsure about whether it is a useful financial planning tool. Here are six different scenarios for how an HSA can work for you.
How To Invest When You Have Family Members With Disabilities
Having family members with disabilities requires lifelong planning that might not be easily addressed by typical financial planning advice. Planning appropriately for their lives can ensure they are protected and secure.
10 Financial To-Dos Before Your First Wedding Anniversary
Planning your financial life with your spouse can be very stressful. Here are ten considerations you should talk about before reaching your first anniversary.
Explore your first goal
This is a great place to start—an emergency fund for life's unplanned hiccups. A safety net is a conservative portfolio.
Whether it's a long way off or just around the corner, we'll help you save for the retirement you deserve.
If you want to invest and build wealth over time, then this is the goal for you. This is an excellent goal type for unknown future needs or money you plan to pass to future generations.