How to Teach Your Kids About Debt

EPISODE 147: HOW TO TEACH YOUR KIDS ABOUT DEBT

Welcome to the Monday Money Tip Podcast. When it comes to teaching your child about financial concepts, where do you start? 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. In our Current Events segment, we’re talking about important facts and stats relating to Social Security. Our success story comes from Carolyn, who has paid off 11 credit cards and recently started paying double car payments! 

WATCH OR LISTEN:

About the Episode:

  • 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.

  • In our Current Events segment, we’re talking about important facts and stats relating to Social Security.

  • Our success story comes from Carolyn, who has paid off 11 credit cards and recently started paying double car payments!   

Helpful Tips:

  • Be Open with your own financial journey 

  • Connect the dots when they borrow money from you or a sibling 

  • Learn Scripture 

  • Show differences in types of debt 

  • Encourage great caution when acquiring debt 

  • Show them the math 

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