I'm all about giving my kids the very best in life. That all starts with equipping them with the ability to provide for themselves in the future. Basic financial literacy is a great place to start.
Given that 78% of Americans live paycheck to paycheck, according to CNBC, it is incumbent on us as parents to start the financial education process early so our kids will have better lives than we do.
There’s no one better to talk about these elementary (and crucial) math skills than Paul Vasey. Paul is the founder of Cash Crunch Games. This is a series of games for kids that teach money habits that will help them not live paycheck to paycheck and truly win in life.
What are we covering?
Paul and I chat about:
- How he developed Cash Crunch Games
- Why playing games with your kids can you help them (and you) financially
- Everyday money principles we can teach our children to help them thrive
My 6-year old Zoey and I have played Cash Crunch Junior and she really enjoys it. We practice counting money together and we discuss the consequences of spending all of your money. These are great lessons for my little girl to be learning.
CLICK THE PLAY BUTTON ABOVE OR LISTEN ON:
About Our Guest: Paul Vasey
A former teacher turned entrepreneur, Paul Vasey saw a huge disconnect between money habits and money skills. He subsequently created Cash Crunch Games as a way of teaching money habits in a “learn while you play without realizing it” format.
He has since developed games for ages 7 to 21 and believes that money skills are often underrated and overlooked.
Money Master of the Week
Mike Murphy wrote me an inspiring email that got me fired about investing and teaching my kids about money … here’s Mike’s email:
“I recently found your podcast and have really been enjoying listening to you and your guests. I also like how you share some money “wins” of your listeners.
We have a money win we'd like to share. My wife and I recently sold our rental house. This was a house that we bought in the throws of the great recession. We bought it for $15,500 (cash), I put $3,000 into it fixing it up (doing a lot of the work myself) and have rented it out the past nine years. We just sold this house for over $100,000. If you add up the sales price with the rent collected over the years, it's over the ten times our initial investment.
Another positive was that our oldest son helped with repairs & maintenance and got to see first hand the benefit of hard work. This also helped the kids understand the old adage “buy low and sell high”.
Keep you the good work on the pod!”
Mike, that is such a huge win! Congratulations!
My favorite part of this email is the lesson that Mike’s son is learning from this family investment. Do you think Mike’s son is going to know a thing or two about real estate as he gets older? Guaranteed!
I’m so inspired to do this with my kids as they get older. They can help us with the properties, get paid, have fun and plan for the future.
This is how generational wealth is built, my friends!
Mike Murphy 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 an email) and include the following:
- First name
- Location
- Your recent big win
- How you did it
- 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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Paul Vasey’S RESOURCES
Website: Cash Crunch Games
Recommended Resource: FamZoo
Recommended Book: No Cash Allowance by Lynne L. Finch
MKM PODCAST RESOURCES
Warren Buffett's Secret Millionaires Club: Video series for kids to learn financial literacy and entrepreneurship
Thriving Families Facebook Group: Join our new FREE Facebook Community!
Young Family Wealth Playbook (FREE): 7-Steps to Solidifying Your Family’s Future Wealth
Support this Show
If you enjoyed this podcast episode, here are some excellent ways to support the show:
- Leave a review for the show on Apple Podcasts or Stitcher
- Leave a comment below
- Check out my Recommended Resources Page
- Subscribe to the show on Apple Podcasts, YouTube, Spotify, Google Podcasts or Stitcher
- Join our Thriving Families Facebook Community – learn and help other families grow their wealth
I truly appreciate the support everyone!
Questions?
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 Twitter, Facebook or shoot me an email.
Carpe Diem Quote
“Children are sponges—they are going to absorb whatever is around them, so we need to be intentional about what surrounds them.”
― Dave Ramsey
How do you teach your kids smart financial habits?
Please let me know in the comments below.
