How fulfilling would your life be as a parent to watch your kids grow up and become successful and responsible adults and positively impact others? One big piece of the puzzle is teaching them to be savvy with their money. And since schools aren’t teaching our kids about money, it’s up to us to kick-start that journey.

That’s why I’m excited to introduce today’s guest, Scott Donnell. Scott is the co-author of Value Creation Kid: The Healthy Struggles Your Children Need to Succeed and the visionary behind GravyStack, a financial literacy educational app for kids and teens. Today, he’s sharing invaluable insights on making money management fun and effective for our kids.

Scott’s mission is to shift our focus from simply handing down an inheritance to teaching our kids to be wise, responsible, and think like entrepreneurs. He’s providing insights on how we can help them understand the value of money and guide them toward making value-driven decisions with their wealth. We’re essentially setting the stage for them to make a difference, not just earn a paycheck.

KEY TAKEAWAYS

Focus your time on heritage, not inheritance
If each generation outperforms the last, you’re on the right track
Why giving your kids an allowance can actually backfire
The importance of encouraging side projects and learning outside of school curriculums
The power of teaching your kids the importance of adding value
Heal your own money issues so you don’t pass them down to your children

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Hal Elrod, Scott Donnell