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EP 103: Preparing for Liftoff: Financial Literacy
Manage episode 411878566 series 2918387
Content provided by Avery Hoenig, PhD, Jamie Wilson, PhD, and Lucy Smith, PhD, Avery Hoenig, Jamie Wilson, and Lucy Smith. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Avery Hoenig, PhD, Jamie Wilson, PhD, and Lucy Smith, PhD, Avery Hoenig, Jamie Wilson, and Lucy Smith or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Today’s episode is all about fostering financial literacy in our teens and young adults. We start with some of the main financial related concerns we hear from kids during and after college, and we work backwards, highlighting specific tools and skills we can teach our kids before they leave home. We explore methods of payment, tipping, budgeting, and allowance/income. We also talk about natural opportunities to grow these skills, as well as opportunities for financially oriented natural consequences (e.g., how to respond when your teen loses her laptop stylus for the 3rd time in 3 months!). Lastly, we highlight how financial literacy can be complicated: it’s hard to talk openly and directly about finances, and money tends to stir up all kinds of emotions (which makes it even more uncomfortable).
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