522: How to Teach Your Kids About Money with Scott Donnell

Achieve Your Goals with Hal Elrod

Hal Elrod

Goals, Lifesuccess, Success, Goalsetting, Halelrod, Business, Achievement, Lifestyle, Motivation, Productivity, Miraclemorning, Self-improvement, Education

4.8 • 1.4K Ratings

🗓️ 21 February 2024

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

How fulfilling would your life be as a parent to watch your kids grow up and become successful and responsible adults and positively impact others? One big piece of the puzzle is teaching them to be savvy with their money. And since schools aren’t teaching our kids about money, it’s up to us to kick-start that journey.

That’s why I’m excited to introduce today’s guest, Scott Donnell. Scott is the co-author of Value Creation Kid: The Healthy Struggles Your Children Need to Succeed and the visionary behind GravyStack, a financial literacy educational app for kids and teens. Today, he’s sharing invaluable insights on making money management fun and effective for our kids.

Scott’s mission is to shift our focus from simply handing down an inheritance to teaching our kids to be wise, responsible, and think like entrepreneurs. He’s providing insights on how we can help them understand the value of money and guide them toward making value-driven decisions with their wealth. We’re essentially setting the stage for them to make a difference, not just earn a paycheck.

KEY TAKEAWAYS

Focus your time on heritage, not inheritance
If each generation outperforms the last, you’re on the right track
Why giving your kids an allowance can actually backfire
The importance of encouraging side projects and learning outside of school curriculums
The power of teaching your kids the importance of adding value
Heal your own money issues so you don’t pass them down to your children

Get The Full Show Notes

To get full access to today's show notes, including audio, transcript, and links to all the resources mentioned, visit MiracleMorning.com/522

Subscribe, Rate & Review

I would love if you could subscribe to the podcast and leave an honest rating & review. This will encourage other people to listen and allow us to grow as a community. The bigger we get as a community, the bigger the impact we can have on the world.

To subscribe, rate, and review the podcast on iTunes, visit HalElrod.com/iTunes.

Connect with Hal Elrod

Transcript

Click on a timestamp to play from that location

0:00.0	Hello and welcome to the Achieve Your Goals podcast the show that empowers you to wake up to your full potential and achieve your biggest goals and dreams.
0:09.5	I am your host Hal Elrod and I invite you to join us each week as we share actionable strategies to take your life to the next level, as well as interview world-class experts and entrepreneurs who have achieved extraordinary goals themselves, and we ask them to give you a
0:24.0	peek behind the curtain and teach you exactly what you need to do the same.
0:28.0	Ready? Here we go.
0:30.0	Hello friends, welcome to the
0:33.0	achievements goals podcast this is your host Alrod and today we're talking about
0:36.8	how to teach your kids about money so now if you don't have kids or you don't want to have kids or your kids are grown out of the house probably episodes not for you skip to another achieve your goals podcast episode but if you do have kids at home like I do I've gotten 11 and a 14 year old there may be no one better in the world to teach you about this subject then Scott Dunell and Scott and I met like six months ago in Florida and event we've become friends since then I am currently on page
1:04.3	126 of his book Value Creation Kid, The Healthy Struggles your Children Need to
1:09.2	Succeed. He also is the creator of the Gravy Stack app,
1:13.3	which is an app that gamifies teaching your kids
1:16.8	about healthy earning, saving, investing, and spending habits,
1:22.1	healthy money habits. and since 2011, Scott's companies have helped 7 million kids learn leadership, fitness and financial competency. He is a father himself of four children and he is also the
1:37.6	founder of dinner table.com and dinner table.com, ton of free resources to help you and your family create a legacy.
1:46.0	And you're going to hear today why he believes that it's heritage, not inheritance, that we need to pass on to our children and he'll explain what that means.
1:56.4	Today's conversation I love talking to Scott he's just brilliant at what he does.
2:00.7	This is his area of expertise it It is his mission, it is his passion to help families
2:06.4	and help kids learn about money. Before we dive into the episode, I want to thank our two sponsors
2:11.0	for today. And first and foremost is Organify. Now I don't talk very often
2:15.6	or Organify is green juice because it has an ingredient that I personally am allergic to. Not many people allergic to it. it's Oshawa Ganda, so I don't use that product.
2:26.0	However, I thought I'm doing a disservice by not telling you about organifies number one selling
2:32.1	product.
2:32.7	It's how they launch their business.
	...

Transcript will be available on the free plan in -359 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Hal Elrod, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Hal Elrod and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.