Financial Sobriety
Financial Sobriety
Episode 42: Teach your Children - Child Tax Credit means you've got money!
Episode 42: Teach your Children - Child Tax Credit means you've got money!
Episode 42: Teach your Children - Child Tax Credit means you've got money!
Tuesday 27th July 2021
Learn how Rhode Island's new financial literacy bill and the federal child tax credit can help teach kids about money management in Episode 42 of Financial Sobriety.
46 minutes
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Get the buttons here!Building Financial Foundations for Kids: Episode 42 of Financial Sobriety
What if you could count on your state school system to educate, not only your child, but every child on financial literacy?
Imagine a future where every child grows up understanding the value of money and how to manage it wisely. In this episode of 'Financial Sobriety', hosts Matthew Grishman and Jim Gebhardt take a deep dive into the importance of teaching financial literacy to children. They kick things off by discussing Rhode Island's groundbreaking bill SB349, which aims to integrate financial education into the state school curriculum.
This initiative could shape a generation of financially savvy leaders, making it a game-changer for the future. But that's not all. Matthew and Jim also shed light on the federal child tax credit, explaining how this recent policy can be a golden opportunity for parents to instill good financial habits in their kids.
They break down the concept of 'paying oneself first'—setting aside savings before tackling expenses—and how this simple yet powerful practice can set children up for lifelong financial success. The hosts introduce The Upgrade Club, a program designed to teach kids about saving and growing their money. They encourage parents to use the child tax credit as a teaching tool, offering practical tips on money management and youth-focused investment opportunities.
Throughout the episode, Matthew and Jim emphasize the importance of consulting a financial advisor to navigate these topics effectively. With a blend of personal anecdotes and expert advice, this episode is a treasure trove of insights for parents eager to give their children a head start in financial literacy. Tune in to learn how you can turn everyday financial decisions into valuable lessons for your kids.