Money Vault - How to inspire your children to build wealth
The Money To The Masses Podcast
Damien Fahy
4.8 • 589 Ratings
🗓️ 29 April 2026
⏱️ 14 minutes
🧾️ Download transcript
Summary
Welcome to the Money Vault, our new midweek show where we revisit classic, evergreen episodes from the Money to the Masses archives.
In this episode, Damien revisits a classic conversation about teaching children the fundamentals of building wealth. Prompted by an unexpected question about Bitcoin, he shares a personal story of how he guided his teenage daughter through the realities of money management.
He discusses how to make financial concepts engaging for young people and moving beyond simple savings to explain how investing and compound interest can shape their future.
Resources:
- Sign up to the weekly newsletter
- How to become a Millionaire
- MTTM Episode 456 - Listen to the full episode
- MTTM Savings & Investment Calculator
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Transcript
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| 0:00.0 | Hello and welcome to the Money Vault and new weekly Wednesday show where we dig into the archives and give you one of our classic episodes from back in the day. |
| 0:06.9 | Damien, welcome back. How you doing? |
| 0:08.5 | I'm good and this week's episode is in relation to teaching your children about how to build wealth. |
| 0:14.7 | Now, it's based upon a conversation that I had with my eldest child. |
| 0:19.8 | So it is quite personal, but listening back through the show, |
| 0:23.1 | there's so many good tips in it. And in this episode, I talk about how I discussed building |
| 0:29.2 | wealth, inspiring her to build wealth. We even touched upon ideas like budgeting and also |
| 0:35.6 | coast fire. So there's so many tips in here that will be useful. |
| 0:39.8 | You could listen to it with your children or you just use it as inspiration to start the conversation |
| 0:46.1 | with them. And this did have a really big impact on my eldest who now is engaged with the |
| 0:51.9 | idea of trying to build wealth into the future. |
| 0:55.1 | So let's move on to the next piece then. |
| 0:56.9 | And this came about from you watching something on TV and getting caught. |
| 1:02.5 | And you were asked a few questions about exactly what it was you were watching. |
| 1:06.4 | It sounds worse than it. |
| 1:07.8 | It sounds way worse than what it actually was. |
| 1:10.0 | It was far less sinister. Basically, I was working from home and my daughter came in from school and she wandered in and I had Bloomberg on the TV and I don't often have Bloomberg on the TV, but it was a day where markets were all over the place and was very intrigued what was going on and just to see what was panning out. And I just had it on in the background. And, of course, she came in and I don't think the sound was even on. And if you've ever seen Bloomberg on TV, it looks like Sky Sports, but all the things that would be all those tickers talking about, I know, the latest transfers or whatever it'd be on SkySport, that is all to do with finance and finance stories. |
| 1:44.3 | So when you walk in, it looks a bit crazy. |
| 1:46.4 | Well, of course, the first thing she saw that she recognised was Bitcoin. |
| 1:49.4 | And she saw the price of Bitcoin was being shown on screen and then started talking about |
| 1:53.2 | what is Bitcoin. |
| 1:54.1 | And we started having a conversation about Bitcoin. |
... |
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