#13: Money Boss Mom: Financial Literacy, Invisible Money, and Kids (with Jamie Bosse)
Welcome to another episode of "How to Teach Your Kids About Money", your go-to podcast for teaching your kids about money. Today, our guest is Jamie Bosse, a financial advisor, author, and mother of four. In this episode, we dive deep into the challenges and importance of teaching kids about money in a world where money has become almost invisible. Jamie shares her journey from being a college student contemplating becoming an elementary school teacher, to switching her major to financial planning after her parents filed for bankruptcy. This personal experience sparked her passion for financial literacy and led to her mission to help people improve their lives through better financial understanding. Jamie also shares her insights on parenting and managing finances with her children. With four children ranging from 5 to 10 years old, she's seen firsthand how different kids can be when it comes to money, from the strategic saver to the impulsive buyer. She explains her approach to teaching her children about money and the importance of letting them make mistakes when the stakes are lower. We also discuss her book, "Money Boss Mom," and the children's book series, Milton, the Money Savvy Pup, both of which aim to promote financial literacy in an engaging and relatable way. Key Points: * The importance of teaching kids about money and financial literacy. * Jamie's personal journey and her passion for financial planning. * The challenges of teaching kids about money when it's invisible. * The significance of letting kids make financial mistakes. * Jamie encourages her children to find jobs outside the home during the summer to understand accountability and working for someone else. * Julie's daughter Cassidy had a profitable beading business, but now struggles with understanding the value of smaller amounts of money because she is used to handling larger numbers. * Jamie shares that their chore chart has evolved; her older kids are on a kind of "salary system" where they have daily tasks to complete before they can do anything fun. The children get paid weekly; the older ones get around $5, and the younger ones receive $3. The children have 'give, save, spend' jars and decide for themselves how to allocate their money. * Julie and Jamie are the primary drivers of financial education in their households, with supportive spouses. * Alec uses a system of "seed capital" as part of the Cents of Responsibility monthly allowance day to teach his kids about compounding interest, which he plans to eventually transition into an investment account. * Jamie's book, "Money Boss Mom," and her children's book series, "Milton, the Money Savvy Pup" Don't forget to rate, review, and subscribe to "Cents of Responsibility". If you enjoyed this episode or have any suggestions for future episodes, please let us know. We'd love to hear from you! In the meantime, teach cents-ibly! ======================= Relevant Links: Jamie Bosse's books: Money Boss Mom and Milton, the Money Savvy Pup: https://www.moneybossmom.com/buy-books Cents of Responsibility Parent Resources Page: ======================= In this episode: - Alec Lindenauer, COR's Chief Allowance Officer, Financial Advisor and Certified Financial Education Instructor℠ - Julie Frans, COR Chief Community Officer, and COR Mom -Jamie Bosse, Financial Planner, author, and mother of four ======================= Want more resources to teach your child about money? Check ‘em out here: 💰How To Teach Your Kids About Money Podcast: https://www.centsofresponsibility.com/podcast?utm_source=youtube&utm_medium=organic&utm_campaign=ep11 💰Cents of Responsibility Blog: https://www.centsofresponsibility.com/blog?utm_source=youtube&utm_medium=organic&utm_campaign=ep11 💰Cents of Responsibility YouTube Channel: @centsofresponsibility If you’ve thought about taking a complete, comprehensive course to teach your kids all about money, check out
