Bye-Bye Savings Bonds and Hello Modern Savings for Kids with Mimi Chan

Everyone's Talkin' Money

Shari Rash

Business, Self-improvement, Education

4.6 • 631 Ratings

🗓️ 30 October 2018

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Millennials are leading the way when it comes to modern savings. There's a strong trend towards gifting experiences over stuff that's honestly really refreshing, and we're seeing this trend with children's gifts as well. Play yards and plastic trucks are great, but what about gifting your child (or someone you know) with money towards their goals like college or even buying a house in the future? Today's podcast guest, Mimi Chan, is sharing how her company, Littlefund, is shaking things in the world of gifting. What You'll Learn Why we needed a gift-giving evolution in this country What's prompted the trends towards giving experiences over stuff and how that is changing the way we view our finances How to give monetary gifts towards future goals for your children or your friends' children (hint, great for the holidays) How growing up with immigrant parents shaped Mimi's own money story and her drive to start Littlefund Links Mentioned Littlefund Stockpile (fractional stock shares) Collegebacker (for 529 savings) More about Littlefund Littlefund, a modern gifting platform that makes it easy for family and friends to gift savings towards a child’s goals with an FDIC insured account which earns interest of 1% APY that compounds daily. So it truly is the gift that keeps on giving (and at a rate higher than the average savings account to boot). Accounts can be set up by parents with short-term goals such as a trip to Disneyland or swim lessons, or longer range goals like saving for college. Gifters can send a Littlefund gift at any time by using a parent’s email address as the family being gifted does not need to have a Littlefund account in advance. SUBSCRIBE & REVIEW Want to be the first to know when new episodes are released? Click here to subscribe in iTunes! Also, podcast reviews are super important to iTunes and the more reviews we have, the more we can spread the Millennial Money message (those iTunes algorithms are crazy). I’d be honored if you left a review and let me know what you love about the podcast. Ask Shannah Have an Ask Shannah question, submit it here Sunday Seven Email Club Millennial Money is more than just a podcast, we’re all about family here. Join us each weekend for our Sunday Seven Email Club, where we’ll share bonus episodes, money tips, life hacks, exclusive music drops, travel deals, breakfast treats and a whole lotta’ fun! Get Social Shannah on Twitter Shannah on Instagram See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Exclusively on Disney Plus.
0:02.0	It's hard and it's brutal and that's what makes it special.
0:06.0	The multi-award winning series, FX's The Bear, is back for a brand new season.
0:11.0	Upon my signal, unleash hell.
0:15.0	And every second counts.
0:17.0	When that shows zero, this restaurant ceases operations.
0:21.8	FX is the bear.
0:23.1	New season now streaming exclusively on Disney Plus.
0:27.1	18 plus subscription required, Teas and C's apply.
0:30.2	We are a generation of experiences.
0:33.5	You can take your stuff, but give us our memories and our experiences that are going to last for a lifetime.
0:39.5	The stuff that we can sink our teeth into and we can go back to you over and over again.
0:43.9	We're also a generation of innovation and technology.
0:47.3	And our podcast guest today, Mimi Chan from Little Fun, she decided one day,
0:51.2	you know what, I'm going to throw out the old school savings bond idea
0:55.0	from our grandparents.
0:56.6	I mean, do we even know what savings bonds are anymore?
0:59.3	And she wanted to bring innovation and simplicity to gift giving for kids of the future.
1:04.8	I'm Sean Compton Game.
1:06.2	This is millennial money.
1:07.3	And today we're saying we can wave bye-bye to savings bonds of the past and say
1:11.7	hello to modern savings for kids with Mimi Chan. So, Millennial Money with Shawna Compton Game.
	...

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