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Money Lessons For Your Kids: Free Resources and Podcast

Updated: Sep 5, 2023

April is financial literacy month, and in celebration we will be sharing two special episodes focusing on personal finance for your kids.


Money Magic


From the game designer: “Money Magic teaches students the spectacularly unappealing task of creating, and keeping up with, a personal budget. And while they say, “What happens in Vegas, stays in Vegas,” you have to get there first. And there lies the rub.


Players take on the role of road manager for Enzo the Magician, tasked with getting him to Vegas for his big break — and raising $50K along the way to pay for the venue once they get there. And it’s no mean feat: They have to juggle the costs of hyping shows as they make their way to land of neon and slots, along with paying upkeep on things like new tricks for Enzo and putting gas in the tank of his Magic Mobile. And they have to make sure the spirit of their star performer doesn’t sag, which isn’t easy when you’re managing a diva like Enzo.”



Time for Payback


The game is an immersive online experience that educates students to decide how to pay for college. Players decide on their educational course and see the results of the personal choices they make along the way.


Players enter their GPA, extracurricular involvement, and where they're from. They choose the type of school they want to attend and prioritize the life experiences important to them while in school. Players conclude with a summary of what their choices will cost.



Spent


This online game is about the challenges faced by folks living in poverty. Players face emotional and real-world decisions impacting their income and lifestyle. As in life, some decisions offer no good solutions. Players gain a better understanding of the everyday struggles of people struck with poverty.


The game ends when players either run out of money before the end of the month or make it through with money left over.


Play: Spent


Meet the Money Monsters


The Money Monsters are a group of creatures who are new to our universe. That means they need to learn about many important things like school, friendship, and financial literacy.


The stories include a reading guide to help parents bring money topics to life through storytime. Use the reading guide to review the key ideas in the Money Monsters books, ask questions during reading time, and find activities related to the money topics.



Money as You Grow


The CFPB Money as You Grow Bookshelf can help parents weave money skills into the time you may already spend reading to your kids at home, in a way they'll understand.



Your Financial Path to Graduation


The CFPB financial award letter comparison tool helps future and current college students and their parents with the following:

  • Understand your financial aid offer

  • Plan to cover the remaining costs

  • Estimate how much you’ll owe and if you can afford that debt

  • Compare offers from different schools

  • Decide what to do next


Checklist for opening a bank or credit union account


A perfectly practical and simple checklist of questions for your children to ask when they open their first bank or credit union account.



Financial Calculator


This easy to use calculator allows parents to illustrate the power of compounding. The tool can serve as motivation for teens to begin investing for their own retirement.



The Opposite of Spoiled


The Opposite of Spoiled is a practical guidebook and a values-based philosophy to parenting. The book details how to turn daily choices and milestones into money lessons to teach your kids values: the tooth fairy, allowance, chores, charity, saving, birthdays, holidays, cell phones, checking accounts, clothing, cars, part-time jobs, and college tuition.


The Opposite of Spoiled is for all parents who know that honest conversations about money with their children but who don’t know how and when to start.


More details and where to purchase: The Opposite of Spoiled


We hosted Ron Lieber on the Modern Husbands podcast earlier this year. Read about and listen to this thoughts on money, college, and kids.


 

Podcast: Money Lessons For Your Kids


We discuss the lessons and resources parents can use to teach their own children money lessons.


Show Notes


0:00-0:57: Introduction

0:57-3:10: The most valuable money lesson Dr. Ross’s parents passed down to him

3:11-8:45: The most valuable money lesson Brian’s parents passed down to him

8:46-13:45: The most valuable money lesson Christian’s parents passed down to him

14:15-16:52: Free financial literacy resources parents can use for children between the ages of 3 and 13

16:53-17:40: Why we teach our children to give to homeless people

18:23-24:57: Christian shares his favorite free financial literacy arcade games for middle school and high school students

24:58-31:08: Brian shares his favorite free resources to understand college financial award letters and open bank accounts

31:09-31:42: Important wisdom from Dr. Ross.

32:39-34:24: How to turn back to school shopping into a money lesson

34:25-38:15: How to teach borrowing lessons to your young children

38:30-39:40: There is a difference between a teacher and a preacher

40:00-40:26: Conclusion

 

Learn More


Couples who learn more, save more, and spend more on what is important to them.


For engaged and recently married couples who want to manage money and the home as a team.


Self paced online courses for couples designed by national financial therapy and financial planning experts


Winning ideas from experts to manage money and the home as a team. 2023 Plutus Award Finalist: Best Couples or Family Content


A course for students ages 13-22 to learn research-backed homework hacks and independent learning strategies.


Winning ideas to manage money and the home as a team delivered to your inbox every two weeks. You'll even receive a few free gifts!


Modern Husbands Monthly Newsletter (engaged and newlyweds)

Everything you need to know about transitioning to marriage. The first gift you will receive is a guide to tackle the seven most asked questions about budgeting as a couple.

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