Episode 16 - Keli Calderon

16.Educating Kids about Money w/Keli Calderon of The Smart Money Academy

Keli Calderon is Owner of The Smart Money Academy, whose mission is to equip the next generation with the tools and know-how to care for themselves financially, and the wealth to make an impact on the world. Today on CFO at Home Keli and I discuss educating kids and teens about money, one phrase not to use with your kids about money, and more.

Key Takeaways:
- Smart Money Academy offers on-line classes and resources targeted towards Kids, Teens, and Parents.
  - Kids
    - Ages 9-15
    - Half of class is game-based
    - Teaches concepts such as compound interest, assets and liabilities, appreciation and depreciation, and investing

Teens (extends to college and beyond)
- All on-line, video based
- Teaches concepts of earn, spend, and protect

- - Parents
    - Short mini-course geared to teach parents how to start their kids off well with money
      - Letting kids make “safe” money mistakes
      - Savings
      - Having honest conversations helps them to understand how much “real life” costs
- Phrase to not to say to your kids about money (from Smart Money Academy free guide)
  - MONEY IS OUT OF OUR CONTROL
    - Resist tendency to say “we can’t afford it” when in reality we simply don’t want to buy something for our kids
    - Share family money struggles with your kids, but in a way that leaves them hopeful, not fearful
Resources

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