How can you teach your child to be financially smart? Listen in as my guest, Anthony Delauney, shares his essential advice.
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You would not necessarily think of financial literacy as something a child should know, yet my guest today shares the importance of learning about finances early so we can have money smart children.
What We Talked About:How Anthony's extensive knowledge in financial planning has influenced his parenting
Introducing financial concepts to children in an engaging and age-appropriate manner
The do’s and don'ts of implementing allowances
Developing healthy financial habits early on
Making the complexity of financial literacy simple
The impact emotions have on financial decisions
“Parenting is trying to get a sense of how best we can relate to our children.”
“It's hard enough to figure out your own situation, but when you start to incorporate a spouse and children into the mix, it makes the planning process a lot more fun, but also a lot more complex.”
“You can have two children and you can raise them the exact same way and they can become totally different individuals.”
“When children receive the money, it's very important that they maintain some sense of ownership in terms of how it's distributed.”
“Fear of judgment is the number one thing that prevents people from achieving success.”
“The best part about being a child is you can fail in a safe environment.”
“When a child does fail, we want to give them the opportunity to do it, but we need to be extremely mindful of how we react to their failure.”
“Emotion and money do not go well together.”
“Do not introduce certain concepts that your children may not be emotionally prepared to absorb or relate to.”
“As a parent, make sure that you're mindful of how you react.”
“It's not so much what we tell our children. It's what we show them.”
- Anthony Delauney