#147: How to Teach Your Kids About Debt

<p><strong>About the Episode: </strong></p> <p><span style="font-weight: 400;">- In this episode, we’re discussing how to teach your kids about debt. How should you explain debt to them, what age you should start, and some practical tips for communicating this topic.</span></p> <p><span style="font-weight: 400;">- In our</span> <span style= "font-weight: 400;">Current Events segment, we’re talking about important facts and stats relating to Social Security.</span></p> <p><span style="font-weight: 400;">- Our success story comes from Carolyn, who has paid off 11 credit cards and recently started paying double car payments! </span></p> <p><strong>Helpful Tips:<br /></strong><span style= "font-weight: 400;">- Be Open with your own financial journey <br /></span><span style="font-weight: 400;">- Connect the dots when they borrow money from you or a sibling - </span><span style="font-weight: 400;">Learn Scripture <br /></span><span style="font-weight: 400;">- Show differences in types of debt <br /></span><span style= "font-weight: 400;">- Encourage great caution when acquiring debt <br /></span><span style="font-weight: 400;">- Show them the math </span></p> <p><strong>Resources:</strong> <span style= "font-weight: 400;"><br /></span><a href= "https://fullyfunded.life/MMT"><strong>FULLY FUNDED LIFE</strong></a><br /> <a href="http://ssa.gov/"><span style= "font-weight: 400;">SSA.gov</span><span style= "font-weight: 400;"><br /></span></a><a href= "https://www.iwasbrokenowimnot.com/tools-spectaculars"><span style= "font-weight: 400;">Tool: Pay-Off Spectaculars</span></a> <span style="font-weight: 400;"><br /></span><a href= "http://www.josephsangl.com//?smd_process_download=1&download_id=7166"><span style="font-weight: 400;">Tool: Early Pay-Off Calculator</span><span style= "font-weight: 400;"><br /></span></a><a href= "https://iwbnin.infusionsoft.com/app/storeFront/showProductDetail?productId=43"><span style="font-weight: 400;">Book:</span> <em><span style="font-weight: 400;">What Everyone Should Know About Money Bef