Scott and Chad are back at it for 2024 and excited to bring you more great content. In this episode, they discuss the importance of teaching kids about financial independence at an early age. They identify three ways to make money: selling time, selling products, or investing capital. They emphasize the potential of the digital era that allows children and teenagers to learn anything for free and create passive streams of income. The idea is to motivate kids to think beyond the traditional hourly wages or salary jobs and explore creative ways of making money. In addition, the potential value of transformative approaches such as investing capital at a young age, drop shipping businesses or creating a tech product is highlighted.

00:00 Introduction

00:41 Welcome to Smart Money Parenting

01:32 The Three Ways to Make Money

02:40 Examples of Selling Time, Products, and Investing Capital

07:42 The Power of Compounding Interest

09:56 The Importance of Diversifying Income Streams

13:11 The Value of Results Over Time and Effort

15:46 Conclusion: Encouraging Kids to Think Outside the Box

Mentioned in this episode 
⁠gravystack.com/smart⁠
⁠gravystack.com/igniter⁠
⁠smartmoneyparenting.com⁠
⁠smartmoneyparenting.com/followus⁠
⁠Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest⁠ by Chad Willardson
⁠Value Creation Kid: The Healthy Struggles Your Children Need to Succeed⁠ by Scott Donnell and Lee Benson
Scott Donnell on LinkedIn - ⁠linkedin.com/in/donnell-scott⁠ 
Chad Willardson on LinkedIn - ⁠linkedin.com/in/chadwillardson⁠
Scott Donnell on Instagram - ⁠@imscottdonnell⁠
Chad Willardson on Instagram - ⁠@chad.willardson⁠
Scott Donnell on TikTok - ⁠@imscottdonnell⁠