Kids and Allowance: Money-Smart Habits in Action
The Dad Edge Podcast
Larry Hagner
4.8 • 1.6K Ratings
🗓️ 25 October 2018
⏱️ 16 minutes
🧾️ Download transcript
Summary
In our previous episode, John Lanza, author of The Art of Allowance, shared some ideas about kids and allowance that probably made a lot of us scratch our heads.
He told us that the traditional practice of giving allowance for chores was not a good way to teach kids about managing money or work ethic.
He also explained what a breakthrough allowance is, and how as kids get older they should get as much as $100 in allowance!
These ideas may seem crazy at first, but they work in unexpected ways. Listen to what happened when I implemented these money-smart habits with two of my kids.
For the show notes and links in this episode, go to gooddadproject.com/thursday129.
Transcript
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| 0:00.0 | We are Men. We are warriors. We are dads. We are dads with a purpose. Dad's with an edge. |
| 0:10.0 | We sharpen our skills so we can show up best for others. |
| 0:14.0 | We have one shot in life to be a dad. |
| 0:20.0 | Why not make it epic? |
| 0:28.0 | Hey, what's up guys? Hey what's up guys? |
| 0:29.0 | Welcome to Thursday Throwdown. |
| 0:32.0 | I hope you guys are doing very very well enjoying your |
| 0:35.3 | week. We're just like a week out from Halloween which is exciting. It's one of my |
| 0:40.3 | favorite holidays and actually it's going to be a part of one of the stories |
| 0:44.4 | that I share with you guys today and if this is your first time here this is |
| 0:48.2 | Thursday throwdown we've been doing this now for well over two years it's more of our shorter show where it's either me or I'm |
| 0:56.0 | interviewing a guest, one of our Alliance members who just shares some incredible |
| 1:01.6 | knowledge of some things that he is learning in our |
| 1:04.0 | mastermind community. That's not what's going to happen today though, it's just going to be |
| 1:07.1 | me and I want to share a story with you guys that was really inspired and influenced to do something different from our guest on Monday and that was John |
| 1:17.8 | Lanza who wrote the book The Art of Allowance and came on our show and shared some insights and some things that really kind of made me scratch my head and I wasn't really sure if I was going to implement anything and some of it sounded just be honest like just kind of crazy especially the amounts to give kids for an allowance that are between the ages of like 10 and 15 some of it was like really high. |
| 1:43.0 | However, I actually recorded that show with him over a month ago, |
| 1:47.0 | so I've had a month to really experiment with some of the things that he came on and shared. |
| 1:54.0 | And not only did he drop by and give us a really cool interview and |
| 1:58.0 | killer interview on the podcast, |
| 2:00.0 | he also came on the Alliance Q&A and he was one of our guest speakers last month and he really taught a lot of men on how to help kids learn financial independence as well as personal finance as well as being |
| 2:17.6 | budgetary and good stewards of our money and it was fascinating and I decided to go ahead and |
... |
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