Angela Totman is a Certified Personal and Family Finance Educator with over 10 years of experience helping individuals, families, and entrepreneurs improve their financial literacy through programs, resources, and publications. She is a public speaker, financial coach, and the co-author of Your Financial Mastery, a college-level financial literacy curriculum.
Angela joins me today to discuss the importance of teaching children financial literacy skills at an early age. She explains the difference between “payable chores” and “non-payable chores” and why parents should encourage children to contribute to the family’s responsibilities through both. She also explains how giving children allowances and encouraging them to discover ways to earn their own money teaches them valuable entrepreneurial skills, how to save money for things they want, and how it can impact their sense of accomplishment, self-confidence, and self-esteem.
“When we give kids an opportunity to set a goal and achieve it, they have a sense of accomplishment.” - Angela Totman
This week on Your Money, Your Business, Your Life Podcast:
How learning about entrepreneurship at an early age helps children save money.
How teaching children the value of earning money encourages them to become more independent.
Teaching kids to save money wisely for future planning.
Teaching children to develop passive income opportunities.
Teaching children the skill of setting goals, achieving their goals, and celebrating their goals.
How to help kids boost creativity, self-esteem, and accomplishments.
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