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More Money

Learn how to welcome more money into your life, start living the life you have been dreaming of and learn how to make your business profitable quicker and easier with Cassie Parks, best-selling author on the topics of money, business and lifestyle design. When Cassie isn't speaking, coaching or writing to inspire others, you can find her sipping champagne with friends, traveling, or dancing for no reason.
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Aug 16, 2017

Show Notes: 

00:01 Show Intro

00:20 Cassie Parks Intro

00:26 How To Teach Kids About Money

00:36 You listen to this podcast because you want more money and chances are you have a child in your life that is important to you - own children or nieces/nephews, god children, grandchildren

1:10 You have an impact on the children in your life

1:30 Written a few articles about this topic this week and was on the MomLifeYoShow

2:15 Learn why it is important for you to teach your children

2:58 Fear of managing money doesn’t just go away as an adult

3:47 Grow up with money confidence as a child

4:02 You can change your money story - when you become aware of your story you can shift it immediately

4:26 Change Your Money Story Challenge will help you see what money story has been playing out in real life and the daily steps to change your money story

5:00 Where is not clear as to what your intention is

6:00 Shared pool party story about the friend that put in the address wrong in her GPS

7:12 Parents want to teach kids about money. Ask yourself these questions: What do you want to teach them about money? What kind of adults do you want them to be with money? What are the adults you want to raise? Who are you teaching them to become?

9:48 Teach kids to be a financially successful adults and how to build wealth

10:50 Knowing how to use the tools that are available to you to your best advantage to help you build wealth

11:29 What does financial success mean to you?

11:59 When people don’t have an intention, they don’t make decisions to get them there

12:27 Have that conversation with your partner/parent about who do we want our child to be when they grow up

12:59 Money is part of your entire life and there is really no way to escape it’s impact

13:15 You probably didn’t learn how to be financially successful or build wealth in High School

13:47 Tip #1: Allow Children To Handle Money

13:55 All lesson are worth what they cost

14:10 Children need to interact/handle with money - start with the piggy bank (“This is where we keep money so we know where it is.” and “We make decisions to take it out based on wants and needs”) and this starts to lay the foundation.


15:50 Birthday card money - adult wants to keep that money safe typically and whisked away and that says to a kid consciously or subconsciously “You can’t handle this.” Allow them to handle it so it becomes concrete.

17:20 Allow kids to take ownership of money.

17:44 Money is clean and in order.

17:56 Encourage them to open a bank account and make a big deal about it because they have saved money.

18:42 Tip #2 Mind Your Own Money Talk

18:45 Children are listening and processing way more than adults realize or pay attention to

19:05 You are teaching kids about money all the time by how you interact with it daily

19:29 Ask yourself, “Am I teaching them right now how to be the adult I want them to be?”

19:46 Choose your words carefully when interacting with money and do it purposefully

19:53 Tip #3 Make A Budget With Your Kids

20:13 What does the child need for school? (lunches, sports fees, entertainment, yearbook, clothes shopping budget and anything we forgot)

21:13 After my Mom approved the budget, she gave them a check every month for that month, took us to the bank to deposit that check and responsible for getting out the money we needed and writing checks for the things that checks were needed for

21:48 We were also responsible for balancing the account and making sure there was money in there

21:54 Taught me how to be aware of money, what things cost and make choices

22:20 This felt like the best gift my parents every gave me

22:34 Whatever money you have you are still making choices with it

22:39 People who are financially successful and wealthy make choices every day for where their money goes - they don’t just go by every single thing

23:00 There are examples of people who buy everything and the money runs out

23:11 This is why a lot of people fail at the lottery

23:40 This teaches kids to make conscious decisions about money

23:46 At times it felt like I didn’t have all the money I wanted but it made me creative and open to do things that other kids weren’t open to

24:33 It is easy today, now you can get a prepaid Visa card where they can’t overdraft it

24:48 Allow them to make the mistakes now while they are at home

25:21 Make a plan: What is the plan if you run out of money by the 15th of the month

25:30 Credit on allowance - do it, let him learn the lesson now while you are in control of it and you need to make payments to me for the next eight months, then when you write the check you make the check lower

26:19 The problem isn’t credit, it is when they don't’ think about using credit and don’t understand paying more to have it today - it is about the choice

27:41 Include them in the decisions (age appropriate) - family fun day and have them allocate the money and be in charge of the money for the day and actually pay

29:33 Confidence is earned - money confidence is earned through stepping into the experience over time

30:12 Tip #4 Model The Adults You Want Them To Grow Up To Be

31:06 Model the behavior you want them to have, “We can invest here”, “I want to save this”, “I am making a commitment to” and this might require you changing your money story

33:07 Tip #5 Check In On Your Behavior

33:14 Check in and ask yourself if you are being who you want them to be when they grow up

33:25 Reach out at Manifest10K.com if you need help with this or ChangeYourMoneyStoryChallenge.com and learn and get the help if you need it

33:45 Send me an email or leave a review on iTunes if these tips were helpful

34:08 Money Mantra: I am good with money

34:25 Show Close

34:34 End

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