#2 — Robin Taub: How To Teach Your Kids About Money

Our guest this episode is Robin Taub—a financial educator focused on helping parents teach their kids to be responsible, independent and money-smart for life through her award winning book “The Wisest Investment” and public speaking engagements.

In this episode we discuss all things parents should know when teaching their kids about money, from allowances, to piggy banks, to how much kids should save, and much more. You'll enjoy this discussion with Robin Taub.

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The Wealthy Barber Podcast is Canada’s go-to source for approachable, entertaining, and free financial education. Hosted by none other than David Chilton—former Dragon on CBC’s ”Dragons’ Den” and the best-selling author of ”The Wealthy Barber” and ”The Wealthy Barber Returns”—this podcast is here to help Canadians manage their money better. Much better.

Find all episodes and more Canadian personal finance content at https://thewealthybarber.com.

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Show Notes:

(00:00:00) Introduction

(00:01:11) How Do You Teach Kids About Money?

(00:07:38) Allowances

(00:11:41) Robin's Book & Framework

(00:15:52) Teaching Kids About Investing 

(00:18:55) People Are Having Fewer Kids 

(00:20:00) Young People More Affected by Inflation 

(00:22:42) Piggy Banks 

(00:24:04) Spending in the Digital Era 

(00:26:01) "Cooling-Off" Periods

(00:27:25) How Much Kids Should Save

(00:28:59) Grandparents More Financially Involved Now 

(00:31:58) Biggest Money Mistakes Parents Make

(00:35:08) Money Stress is the Worst Stress

(00:37:14) The Importance of Sharing

(00:41:09) Dave & Robin's Kids 

(00:45:01) Other Resources for Parents

(00:47:08) Conclusion