Preview Mode Links will not work in preview mode

Welcome to the Mastering Midlife Podcast where we explore life at it’s most stressful and most productive.  We will be featuring conversations with experts in the field of Mental Health, Executive Leadership, Business, Health, Exercise, Nutrition, Sex, and Relationship.  Midlife is a powerful time, and together we will learn to “thrive when the world asks the most of us.”

  1. All Episodes
  2. The Five Money Conversations to Have with Your Kids with Scott and Bethany Palmer

The Five Money Conversations to Have with Your Kids with Scott and Bethany Palmer

Oct 28, 2019

Bethany and Scott Palmer are the authors of The 5 Money Conversations to Have with Your Kids at Every Age and Stage and the founders of The Money Couple. Their ultimate goal is to put a dent in the divorce rates in the US that are caused by money problems. They use their wisdom and experience as financial advisors for over 25 years to salvage marriages that would have been ruined by issues with wealth management. They’re currently eyeing the younger generation and seek to give parents sage advice regarding their children’s early financial experiences.

Bethany and Scott join me today to discuss the benefits of talking to your children about how to handle money. They explain where this passion stemmed from and the goals they want to achieve with their book. They discuss the different money personalities and the similarities and differences between children and adults in terms of how they handle currency. Bethany and Scott also share why it’s perfectly acceptable to be different from your children and the importance of embracing their different spending and money personalities.

  

“A child’s form of currency is actually their candy. Kids handle their candy in the same way adults handle money decisions.”- Bethany Palmer

  

Today on Mastering Midlife:

  • What inspired them to write a book on teaching kids about finances.
  • How kids manage their little assets similar to adults.
  • Determining the money personalities of your children.
  • Why there's no such thing as a right or wrong money personality.
  • How their kids are different than them and some memorable stories.
  • The way kids are saving money for emergencies.
  • The different spending personalities kids have and how it translates to adulthood.

 

 

Scott and Bethany Palmer’s Words of Wisdom:

  • It’s critical to know just what kind of money personality your kids have, so you can educate them better about the importance of saving.
  • Some kids will have complex money personalities, and there’s nothing wrong with that.

 

Resources Mentioned:

 

 

Connect with Bethany and Scott Palmer:

 

Be Part of the Show - Ask Mark Anything

Do you have a question for Mark or one of his guests? A suggestion? Your own tip for thriving in this time of career and life? Please, share with us. Go to my podcast page www.markjsilverman.com/podcast and press the BIG ORANGE BUTTON. I want to hear from you and have YOU be part of the show.

 

Get FREE Access to the Only 10’s Course 

Are you struggling with knowing what, when, and how to focus your efforts to get things done? As a long-time sufferer of severe ADD, I understand the struggle - and that’s why I created the Only 10’s system. This system has helped me and thousands of others clear the clutter and focus their energy on getting the right things done.

The Only 10’s free online course is based on my proven system to help you focus your attention and maintain momentum around your day-to-day life.

Sign up for the Only 10’s free course today!

  

Mastering Midlife...Together! 

Thanks for tuning into today’s episode of the Mastering Midlife Podcast: How to Thrive When the World Asks the Most of You with Mark Silverman. If you enjoyed this episode, subscribe to the show on Apple Podcasts and leave us a review.

 

Be sure to visit our website and connect with us on Facebook, LinkedIn, Twitter, and YouTube and don’t forget to share your favorite episodes on social media.