Business
About the Episode: - In this episode, we’re discussing how to teach your kids about debt. How should you explain debt to them, what age you should start, and some practical tips for communicating this topic. - In our Current Events segment, we’re talking about important facts and stats relating to Social Security. - Our success story comes from Carolyn, who has paid off 11 credit cards and recently started paying double car payments! Helpful Tips:- Be Open with your own financial journey - Connect the dots when they borrow money from you or a sibling - Learn Scripture - Show differences in types of debt - Encourage great caution when acquiring debt - Show them the math Resources: FULLY FUNDED LIFE SSA.govTool: Pay-Off Spectaculars Tool: Early Pay-Off CalculatorBook: What Everyone Should Know About Money Before They Enter the Real WorldIWBNIN LadderRelated Monday Money Tip Podcast Episodes:Episode 54: The Right Retirement Account Episode 62: How Much Money Do I Need to Retire? Episode 122: Gaining Control of the Finances Episode 128: Debt-Free While Working a Job We Love Episode 144: How to Teach Your Kids About Budgeting Email info@iwbnin.com to ask questions or share success stories.