What are the best apps to use to help my kids with their finances?

Are your kids constantly asking for the latest gadgets and expensive sneakers? Today, Ralph Estep Jr. shares innovative ways to turn those spending demands into valuable financial lessons. By leveraging technology and specific apps, you can teach your children the true value of money and help them build financial responsibility. Ralph highlights the importance of setting clear financial goals and having regular conversations about budgeting and spending to guide their understanding. He recommends practical apps like Greenlight, GoHenry, and Current, which are designed to foster financial literacy. Ralph’s ultimate goal is to help parents raise financially confident children who grasp both the practical and spiritual aspects of stewardship, and he also shares insights into the best apps to use to help kids with their finances.

https://www.askralphpodcast.com/help-my-kids/

Podcast Timestamps:

00:00 Episode Overview

01:09 Listener’s Question: Struggling to Teach Kids About Money

03:25 Bible Verse: Proverbs 22:6 – Train Up a Child in the Way He Should Go

03:51 Real-Life Story: How Monica Turned Financial Struggles into Teachable Moments

05:41 Best Apps for Kids’ Banking & Budgeting Needs

05:50 #1 Greenlight – Debit Cards for Kids with Parental Controls

07:12 #2 GoHenry – Gamified Financial Education

08:48 #3 Current – Tools for Teens Transitioning to Adult Banking

10:50 A Proven System You Can Implement

10:54 #1 Set Clear Financial Goals Using Apps

11:39 #2 Schedule Weekly Money Meetings with Your Kids

12:34 #3 Implement the 24-Hour Rule for Non-Essential Purchases

13:41 #4 Create Budget Categories Together

14:59 #5 Practice Value-Based Spending Discussions

19:21 Call to Action

21:38 Actionable Steps You Can Take

24:11 Closing

Takeaways:

• Teaching kids about money can turn their spending desires into valuable lessons.
• Using technology and apps can effectively teach children financial responsibility and money management.
• Setting clear financial goals is essential for helping children understand budgeting and saving.
• Regular discussions about spending habits can foster better financial decision-making skills in children.
• Implementing a 24-hour waiting period for non-essential purchases can reduce impulse buying.
• Encouraging kids to comparison shop empowers them to make informed financial choices.

Links referenced in this episode:

• askralphpodcast.com/survey
• greenlight.com
• gohenry.com
• current.com
• www.askralphpodcast.com/christmas
• Ask Ralph Insiders Community https://mailchi.mp/askralph.com/group
• Ask Ralph Show Live https://askralphpodcast.com/live
• What is your question that you would like to ask Ralph? Send Your Question here: https://justaskralph.com/ 
• Join our email list and get a free copy of “Mastering Your Finances” at https://askralph.com/

Companies mentioned in this episode:

• Greenlight
• Go Henry
• Current

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