129: How to Teach Your Children About Money with The Budgetnista Tiffany Aliche

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 15 June 2020

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today, we welcome back the Budgetnista, Tiffany Aliche. When we spoke to her way back in episode 8, we heard her story of an investment gone wrong and how 2008 really threw a monkey wrench into her life plans. But instead of allowing that to deter her, Tiffany committed to teaching people how to budget. Since we last spoke, she has expanded her original, uber-successful Live Richer Challenge (www.livericherchallenge.com) into a savings edition, a credit edition, a net worth edition, and a homebuying edition—all free and all designed to teach you the things you never learned about money and finance. Tiffany is SO PASSIONATE about personal finance that she worked tirelessly for more than two years to get a bill passed in New Jersey, mandating financial literacy education for middle schoolers. (Want to duplicate her success in your state? Here’s a video that details how she did it: How to Get a Law Passed with Assemblywoman Angela V. McKnight. But she’s not done! Tiffany has combined her love of budgeting with her love of teaching children in her new book Happy Birthday Mali More, and on today’s episode, she shares her top tips for teaching your children the fundamentals of managing money properly. If you have children, this episode can help you figure out the age-appropriate lessons you should be teaching them to help them grow into financially responsible adults. In This Episode We Cover: The Budgetnista Law The reason why parents have a hard time teaching their kids about money The concepts that parents should teach at various ages How early should parents start teaching their kids about money? Communicating the concept of financial freedom How Tiffany got her husband on board with financial freedom And SO much more! Links from the Show BiggerPockets Money Facebook Group Live Richer Challenge BiggerPockets Money Podcast 08 with Tiffany Aliche Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Bigger Pockets Money Podcast, show number 129, where we bring back Tiffany
0:05.4	Aliche, the Budget Nista, to talk about teaching our children all about money.
0:10.1	You're not trying to create like this perfect kid that's going to know all the things, you know,
0:15.0	that you're just wanting to give them enough exposure so they can start to generate interest in different things
0:21.0	and especially when it comes to financial education to me it's as
0:24.4	important as reading, writing, adding and subtracting if you cannot manage your
0:28.8	money you will not be able to eat you will not be able to sleep someplace safe
0:32.1	you will not be able to be able to transport yourself from one place to another,
0:36.4	you have to have some basic core financial education.
0:40.1	If not, it's going to be very difficult to be an adult.
0:43.0	Hello, hello, hello, my name is Mindy Jensen, and with me as always is my,
0:48.0	they didn't teach you this stuff in school co-host Scott Trent.
0:51.0	Yeah, well, I'm certainly superintending to teach you something with this podcast episode,
0:56.3	Mity.
0:57.3	Oh, Scott and I are here to make financial independence less scary, less just for somebody else, and show you that by
1:04.5	following the proven path you can put yourself on the road to early financial freedom and get
1:09.2	money out of the way so you can lead your best life. That's right, whether you want to retire early and travel the world,
1:15.0	go on to make big-time investments in assets like real estate,
1:18.0	start your own business, or simply learn how to teach your children about money.
1:21.0	We'll help you build a position capable of launching
1:23.8	yourself towards your dreams.
1:30.0	Today we welcome back Tiffany Olice, The Budgetista, to the podcast.
	...

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