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April 9, 2018

How to Raise Financially Savvy Kids – with Bill Dwight

Bill Dwight

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One of the reasons I started my podcast was to help my kids (Zoey and Calvin) learn how to become financially savvy. That way, when they get older they’ll not only be able to survive on their own, but they’ll be able to really thrive and take our family tree to the next level.

Zoey is 6 and Calvin is 3. I’ve got a long way to go before they’re off on their own, but I’ve heard it’s never too early to start. According to a survey by NEFE, only 24% of Millennial respondents showed basic financial literacy.  

Since my kiddos are the children of Millennials (Generational Alpha), I’ve been working hard to improve my financial know-how so my kids are NOT lumped into that 24%.

As part my learning process, I asked Bill Dwight to join me on the show today. As a father of 5 and a former Oracle executive, Bill took his passion for software, his love for his children and his desire to promote financial literacy and started a company called FamZoo.

This company offers a prepaid card for kids so they can learn about how money really works. FamZoo’s goal is to bring financial literacy to 40 million American kids through thoughtful parent-moderated payment technology.

What are we covering today?

Bill and I chat about:

  • Setting expectations on needs versus wants
  • Encouraging savings habits early in our kid's lives
  • How our children can become happy givers

Since I’m a newbie Dad, I ask Bill a lot of questions about how he raised his kids to be smart with money.

If you’re a parent and you want to expose your kids to the benefits of early financial literacy, stick with me here today. 


Marriage, Kids and Money, Andy Hill
Listen on Google Play Music
Money Smart Kids, Financial Literacy, Roth IRA for Kids

About Our Guest:  Bill Dwight

Bill Dwight FamZoo

Bill Dwight is the CEO of an online family banking service that teaches kids good money habits. FamZoo won the Finovate 2013 Best In Show award and the FinCon 2015 FinTech Startup Competition for its unique integration of a family finance app with prepaid cards.

A 1984 graduate of Princeton, Bill has built software in diverse areas ranging from artificial intelligence to personal finance. Bill held executive positions at Oracle (database technology), Netgravity (Internet advertising), and Elance (online outsourcing), before founding FamZoo in 2006.

Money Master of the Week

After three years of tracking his finances, Chris recently crossed over into positive net worth territory for the first time!

Chris Duke of Dollars
Chris from the Midwest

When he started tracking his net worth, he was at -$60,000. Now he's hovering around $50,000. That’s more than a $100,000 swing in just three years!

Chris made this massive change in his life by:

  • Cutting back unnecessary expenses
  • Focusing on paying off his debt
  • Maxing out his retirement accounts

Given that Chris is a recent college graduate and he’s focusing on his net worth this early in his life, you know he’s going to be a huge success.  

Chris from the Midwest is our Money Master of the Week!

If you have a financial victory you want to share on this show, please leave me a voicemail (or email) and include the following: name, location, your big win, how you did it and your plans for the future.

Your story will inspire others to save more, make more and plan for their family’s future.

Show Resources


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Bill dwight’S RESOURCES


Recommend BookThe Opposite of Spoiled by Ron Lieber

Recommended Book: The First National Bank of Dad by David Owen

Recommended Book:  Smart Money Smart Kids by Rachel Cruze & Dave Ramsey

Charitable – Support a classroom. Build a future.

Neighborhood Resources: – Connect with your neighbors.

MKM Resources

Young Family Wealth Playbook (FREE):  7-Steps to Solidifying Your Family’s Future Wealth

Young Family Wealth Playbook

Support this Show

If you enjoyed this podcast episode, here are some excellent ways to support the show:

I truly appreciate the support everyone!


I’d love to hear from you!

If you’d like your question featured on the show, reach out and let me know. It would be my honor to support you in your journey toward financial freedom.

Leave me a voicemail or connect with me on TwitterFacebook or shoot me an email.

Carpe Diem Quote

“Children are great imitators. So give them something great to imitate.”

– Anonymous

What advice do you have for raising financially savvy kids?

I'm a new father seeking advice here!

Please let me know in the comments below!

Andy Hill

Andy Hill, AFC® is the award-winning family finance coach behind Marriage Kids and Money - a platform dedicated to helping families build wealth and happiness. With millions of podcast downloads and video views, Andy’s message of family financial empowerment has resonated with listeners, readers and viewers across the world. When he's not "talking money", Andy enjoys being a Soccer Dad, singing karaoke with his wife and relaxing on his hammock.


  • I loved this episode! I’m going to recommend it to all my parent friends. I’m doing many of the things he mentions with my 8 year old son but I got some many new ideas about where to go from here! I love your podcast in general. Keep up the great work!

    • Thanks so much Jen!! I love when our guests share golden takeaways that help you build legacy wealth.

  • This is really a good practice for the kids to be as savvy as their parents in terms of money because it will be a big asset when they will grow up.


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Marriage Kids and Money Podcast

About Marriage Kids & Money

The Marriage Kids and Money Podcast is dedicated to helping young families build wealth and happiness.

With over 400 episodes and counting, we share interviews with wealthy families, award-winning authors, and personal finance experts to help you find your version of family financial independence.

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