#15: Teaching Teens About Money: Emergency Cash & Digital Wallet Essentials

Dive into a conversation about teaching children to have an emergency cash reserve in this valuable episode of the “How to Teach Your Kids About Money” podcast with hosts Alec Lindenauer and Julie Frans.  From phone cases with hidden compartments to linking debit cards with Apple Pay, Alec, and Julie present practical solutions for helping kids manage their money better.

Alec is a finance veteran with 18 years under his belt, and Julie is a hands-on COR (Cents of Responsibility) mom and Chief Community Officer. 

Here's what you’ll learn in this episode: 

Teaching Kids About the Value of Money - Real-Life Examples: Discover how Alec and Julie teach their children about money's value. Through relatable everyday instances, they illuminate for their kids the value of a dollar. They also show how they set up an emergency cash fund with their respective kids, how they presented it to them, and how much money they started with. 

Responsibility and Consequences: Learn from Alec and Julie’s personal experiences where they've introduced the concept of 'actions have consequences' to their kids. Kids begin to understand the importance of financial responsibility from experiencing the discomfort or embarrassment of insufficient funds, 

Cash vs. Digital Wallet: Alec and Julie tackle the how-to of transitioning to digital payments for older kids while keeping the real-world value of money intact.

Friends and Money Management - Helping Your Child Navigate Financial Differences: They also explore the challenges kids face when their peers have differing financial habits or access to money. Gain insights on guiding your child through these situations while maintaining their own money strategies and rules.

Join us for an episode loaded with insightful stories, practical tips, and real-life lessons, making the complex topic of financial education accessible and relatable.

Don't forget to rate, review, and subscribe to our podcast on Apple, Google, Spotify or YouTube. Your feedback is much appreciated! In the meantime, teach cents-ibly!

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Related Links

Blog Post: Let Your Kids Go Broke - https://www.centsofresponsibility.com/blog/let-your-kids-go-broke

In this episode:

Alec, Cents of Responsibility founder with 18 years in finance

Julie, COR mom and Chief Community Officer

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Want more resources to teach your child about money? Check ‘em out here:

💰"Cents of Responsibility" Podcast:
https://www.centsofresponsibility.com/podcast?utm_source=podcast&utm_medium=ep15&utm_campaign=ep_release

💰Cents of Responsibility Blog:
https://www.centsofresponsibility.com/blog?utm_source=podcast&utm_medium=ep15&utm_campaign=ep_release

💰Cents of Responsibility YouTube Channel:
@CentsOfResponsibility

For a comprehensive course to teach your kids all about money, check out our flagship course here: https://www.centsofresponsibility.com/CORCourse1?utm_source=podcast&utm_medium=ep15&utm_campaign=ep_release

Also, follow us at these places below and say hi!

💵 Website: https://www.centsofresponsibility.com/

💵 Instagram: https://www.instagram.com/centsofresponsibility/

💵 Facebook: https://www.facebook.com/CentsOfResponsibility

💵 YouTube: @CentsOfRespon