AAR09 - Financial Literacy in Childhood

In this episode of 'At Any Rate,' host Evan Raidt is joined by guest Dave Ahern to discuss the importance of early financial education and its long-term effects. They share personal experiences about their own financial upbringings, the challenges faced due to a lack of financial literacy, and how different parenting styles can shape a child's financial future. Topics covered include budgeting basics, the significance of retirement accounts, the FIRE movement, the value of custodial accounts, and strategies for teaching children about money. They also offer practical tips for parents on instilling sound financial habits in their children, including incentivizing chores and involving kids in financial decision-making. The episode emphasizes the profound impact of financial education in childhood on lifelong financial well-being. 00:00 Introduction and Welcome 00:21 Guest Introduction: Dave Ahern 00:48 Early Financial Education Experiences 01:09 Challenges and Resources in Financial Learning 02:47 The Importance of Financial Education for Children 03:17 Personal Financial Education Stories 04:18 Opening First Bank Accounts 05:52 Financial Stigmas and Misconceptions 07:13 Parental Influence on Financial Behavior 11:37 Budgeting and Financial Tools 13:20 Retirement Accounts and Long-Term Planning 14:09 Handling Raises and Bonuses 18:15 The FIRE Movement Explained 30:28 Custodial Accounts for Kids 35:42 Conclusion and Call to Action Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening. Today’s show is sponsored by: Go to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ SHOPIFY.COM/beginners ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to start selling with Shopify today. Squeeze the most out of your Summer with Liquid I.V. Tear. Pour. Live More. Go to ⁠⁠⁠⁠LIQUID-IV DOT COM⁠⁠⁠⁠ and get 20% off your first order with code INVESTING at checkout. Leesa has a lineup of beautifully crafted mattresses tailored to how you sleep – without the luxury price tag. Go to ⁠⁠Leesa.com⁠⁠ , promo code INVESTING for 25% off mattresses PLUS an extra $50 off. What do Dave and Andrew recommend? Our #1 recommended stock research platform is FinChat (now Fiscal.ai). Get 2 weeks access for free using our link (no card required): ⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠fiscal.ai/ifb⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Have questions? Send them to Evan at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠ evan@einvestingforbeginners.com ⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ SUBSCRIBE TO THE SHOW ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Apple ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Spotify ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ YouTube ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Amazon ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Tunein Learn more about your ad choices. Visit megaphone.fm/adchoices