Allowance, Chores, Family Economy & Empowering your Kids with Money - James Ure - 485
Relationship School Podcast
Jayson Gaddis
4.6 • 981 Ratings
🗓️ 6 February 2024
⏱️ 67 minutes
🧾️ Download transcript
Summary
Helping children learn to be financially responsible is one of the most important jobs that parents have. James Ure joins Jayson to talk about how a family economy can help you give your child the best chance to achieve success and independence when they leave home. Should you pay your child for chores? How much of an allowance should you give your child? What is the difference between bribery and empowerment? How can you teach your child the importance of saving, investing, and giving to charity? You won’t want to miss this insightful conversation.
Timestamps:
- 8:31 - What is a family economy?
- 13:55 - Creating incentives for kids
- 25:55 - Tracking a family economy without an app
- 37:41 - Using money and screentime as motivators
- 41:54 - Bribing vs. empowering
- 45:37 - Implementing a family economy
- 53:31 - The Greenlight app
- 57:46 - Big purchases
- 1:01:09 - Where to find James
- 1:02:34 - James' advice for high school students
- 1:03:40 - Action steps
Links:
- Apply to Relationship Coach Training
- U.S. listeners, sign up for relationship tips and support direct to your phone by texting this number: 720-704-4850
- Enroll in Relationship Mastery
- Follow Jayson on social media:
Transcript
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| 0:00.0 | There's nothing right or wrong about being motivated by screen time. |
| 0:02.4 | Sometimes we think there's something wrong with our kids or they're addicted or this. |
| 0:05.3 | Like, they're just screen motivated. Hey Jason Gatis here. Welcome to the Relationship School podcast. This show focuses on |
| 0:18.6 | human behavior, psychology and relationships. It's for people who are into |
| 0:22.2 | growth and development. It's for people who wrestle with the paradox of |
| 0:25.3 | self-acceptance and self-mastery. If you want to gain more self-awareness, have a better relationship |
| 0:31.0 | with yourself and more fulfilling relationships with others, |
| 0:34.0 | this show is for you. |
| 0:36.0 | It's my belief and my experience that your life satisfaction, your health and well-being, and your |
| 0:40.6 | longevity will be determined by how much confidence you have in your most important |
| 0:44.8 | relationships, including the one with yourself. |
| 0:47.2 | Hey folks, so psyched for this episode. This one is so helpful for parents. |
| 0:57.0 | And if you're not a parent you were a kid once and it has to do with money and kids. How do we raise |
| 1:07.2 | our kids around money? How do we teach them the value of money to save it, not |
| 1:12.4 | spend it? And how do we instill good habits so that they're |
| 1:16.9 | ready to deal with their financial life once they're out of the house. And you know, how many of us were actually prepared |
| 1:26.5 | for finances once we were 18 or 19, we moved out? |
| 1:31.0 | A lot of us weren't because there's the classes in school on finances and |
| 1:34.8 | relationships are so bad in my experience. Maybe they're better now. |
| 1:39.0 | But it's like life skill finance wasn't a thing in my public high school or middle school |
| 1:48.1 | So I've got my friend James coming on to the podcast here. He's an amazing guy and is a family of four. And a while back I asked him about how he does finances with the kids and he unpacked this massive system. |
| 2:07.0 | And I was like, holy shit. |
... |
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