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CASH KID

De: The Cash Kid
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  • Welcome to the Cash Kid Podcast! I’m here to teach kids and adults the financial literacy skills they need to start saving money early. Join us as we interview experts and explore topics to take that piggy bank to a real bank and start investing today to watch your money grow. “Cash Kids” are kids who at a young age have an entrepreneurial mindset and good financial skills to use their passions, hobbies, and skills to earn money. Just remember, anyone can be a “Cash Kid,” you just have to learn how to become one. So let’s be the generation to grow the greatest wealth and be the most financially literate. From financial skills to getting your first job, to investing in the stock market, we’ll cover it here on the Cash Kid Podcast.
    Copyright © 2024 Cash Kid. All rights reserved.
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Episodios
  • Are you getting the best deal?: Price Comparison Shopping

    Are you getting the best deal?: Price Comparison Shopping
    Jun 17 2024
    My Mom is joining me on the show today? Hello. Welcome back Cash Kid audience! We are so excited every week to see our listener count grow and your involvement in the Cash Kid movement to build the savviest and most educated financial generation ever. I get asked a lot about how people can be a part of the Cash Kid Podcast movement. First, please follow us on one of our social channels at Instagram, Facebook or YouTube. Just search Cash Kid Podcast and start following us. Interact with our content by sharing, liking or commenting. Also, we’ve got merch! Purchasing this merch directly helps us continue to produce this podcast and help market our efforts. And, Join our mailing list. No, we don’t send a lot of emails. Actually, just once a month, but this list is a great way to stay up to date on giveaways and a recap of what we covered on the podcast recently. Alright, let’s jump into today’s discussion. Price comparison shopping. There are always ways parents can be involved in helping their kids learn about finances and I’ve had some instances over the last few months where my parents have stepped in to keep me or my siblings from making a quick purchase to stop and think about it and do some research before buying. One instance is my dad took us fly fishing for the first time back in March. I loved it! And I came home and right away started filling up my cart with brand new fly fishing gear. I wanted to go fly fishing again. My mom, however, was like, “Why are you buying, new gear? Save your money and search trading sites and yard sales for used gear. You’ll be able to spend half the money. You don’t need to buy new, especially at your age.” I knew then I needed to think more about comparing prices and options before I spent my hard-earned money. So, let’s talk about how to get the most bang for your buck! (music interlude) Now, how do you know if you've found the best deal? First, you need to learn the skills of price comparison. This means taking the time to research and compare prices of similar products from different retailers. We can easily do this at home online. Many websites offer price comparison tools that allow you to easily compare prices from different retailers. We use a Chrome extension called “PayPal Honey” that while we shop around online it will bring a pop-up telling us the price comparison difference of this same item across different stories. Then when we go to check-out, it will try out various coupon codes to see if any will work with our purchase. Another is Simplycodes. It’s an app and an extension online to pull up coupon codes and deals. Let’s give a real world example. Let’s say we’re shopping for a new GoTrax Electric Scooter. Let’s first search on Google. You’ll see right away various options from different stores. Our honey and simply codes widgets show up to the side and will tell us what the price difference is between some stores and Honey will actually tell us the price history of this item over time. So, don’t just settle for the first price you see. Another example is this past week my little brother wanted to buy a new snow cone machine. We found one we wanted on Amazon for real cheap. But when we went to check out, the shipping was almost the same price as the item. I then searched around and found…. Cash Kid: Now, I’m going to bring my Mom into this conversation to share a few of her thoughts on price comparison. Welcome to the show, Mom. Mom: Thanks for having me. Cash Kid: What are some skills you were taught or learned around price comparison? Mom: Well, I come from a long line of very frugal women in my life. Until probably my 30s I had what I termed, “Full Price Phobia” which meant I would literally go without something I needed just because I wasn’t willing to pay full price. I’ve grown out of that over the last ten years and we’ll talk more about that later. I can remember though my Mom taking me grocery shopping and it felt like it took forever as we took our time searching through coupons my Mom had clipped to only get those items that were on sale and we had to have a coupon. My grandmother was one of those people who was savvy enough to use coupons and watch sales to go to check out and the store would owe her money. I remember seeing the receipts, it was pretty impressive. Using coupons grocery shopping like that isn’t as big of a thing anymore so it’s been a shift to buying store brand items to save or buying things when it’s buy one get one free and stocking up. You like to do that with gum. The Cash Kid loves gum and if our Publix has it buy one get one free, he asks me to stock up. Buying in bulk at places like Costco and Sam’s Club is a way to save with a lot of house hold items. I’ve done the price comparison on several items of ...
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    13 m
  • Who is Protecting Our Investments?

    Who is Protecting Our Investments?
    Jun 4 2024
    If we're going to be money-savvy kids, we must know how to watch out for scams and frauds that will cause us to lose our hard-earned money. In this episode of the Cash Kid Podcast, we explore the importance of investment protection and scam prevention with Amanda Senn, the director of the Alabama Securities Commission. Learn about the role of the Securities Commission, real-world examples of its impact on preventing fraud, and how technology affects financial safety. Discover actionable tips on how to safeguard personal information, the significance of financial literacy, and the new financial education requirements for high school students. This informative episode aims to educate kids and adults alike on the essentials of financial protection and literacy. Episode: So, you got some cash, maybe from an allowance? Or, that money your grandma gave you for your seventh birthday. Here ya go, sweetie! Woo hoo! Thanks, Grandma! Whatever it is, what are you gonna do with it? Spend it? Hide it away? Or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a Cash Kid. Millions of dollars lost to fraudsters. Scams across the states. The elderly and kids are big targets. Who is working to protect our investments? And how can kids my age help stop these scams? Plus, taking a financial course is now a graduation requirement in my state. Yep. We’ve got it all covered in this episode of the Cash Kid Podcast where we went on the road to talk with The Alabama Director of the Securities Commmission, Amanda Senn. I personally, had no idea what this department in our state was doing for us everyday. How there are people behind the scenes working to make sure only legitimate business is being conducted and stop fraudsters so we can protect our hard earned money. If you aren’t already, be sure to follow us on social media @cashkidpodcast. Visit our website at cashkidpodcast.com and join our mailing list. Please, please, leave a review from whatever platform you are listening from and help us spread and grow the Cash Kid mission. Alright, we traveled to Montgomery, Alabama to conduct this interview with Ms. Senn. So let’s jump right into it! Cash Kid: Welcome to the show Ms. Senn. And first off, tell us a little bit about yourself. Amanda Senn: Thank you, Cash Kid. I'm glad to be here. My name is Amanda Senn, and I've been with the Alabama Securities Commission for almost 16 years. Interesting fact, I started as an intern and worked my way up, became general counsel, deputy director enforcement and then last year, succeeded at the long time director,Joe Borg, as the director of this agency. Cash Kid: Yep, that's really interesting. So, what is a securities commission and why do we need it? Amanda Senn: So, a security is more than just a stock, a bond, a debenture. There are a laundry list of things that are covered, but it's essentially anything with a view toward an investment. So, you don't actually have to have a writing. But, our agency enforces laws that, um, directly impact. People who sell securities and Those products that are considered securities. We also serve as a resource to our financial industry in the state. Oftentimes some of the smaller businesses don't always have the tremendous amount of resources that the larger firms have. So we're in a unique position to be able to collect information from across the United States and provide it to our industry folks to let them know what's going on and hopefully keep them apprised of all the trends that are coming out in the financial industry. So can you explain how you advocate for investor protections? Why do, why do we need this protection? Just to be clear, there are two securities regulatory bodies, the Federal Securities Exchange Commission and then the State Securities Commissions. The State Securities Commission, our office here, does have some dual oversight with the federal government, but we are exclusively responsible for certain investment advisor And we retain, um, fraud authority so we can prosecute any cases where we have some crook that comes into our state. Because I'm certain none of our Alabama residents are crooks. They come into our state and, um, and represent, um, That, you know, we have this typically what we'll see. So we have this great investment opportunity and, um, it's going to grow jobs in the state and we need investor capital and I'll put it with my, um, you know, business model and my plan and we'll help grow this industry. What happens in a criminal case is they take the money and they don't do what they told the investor they would do with it. They instead funnel it into personal expenses. Sometimes these crooks buy houses, cars, diamond rings for their girlfriends. It's not always a guy though. Sometimes we have female crooks, but they will just take money and, and steal it. So. Um, so investor ...
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    19 m
  • Overcoming Roadblocks to Teaching Kids Financial Lessons

    Overcoming Roadblocks to Teaching Kids Financial Lessons
    May 20 2024
    Overcoming Roadblocks to Teaching Kids Financial Lessons Intro: So, you got some cash, maybe from an allowance? Or, that money your grandma gave you for your seventh birthday. Here ya go, sweetie! Woo hoo! Thanks, Grandma! Whatever it is, what are you gonna do with it? Spend it? Hide it away? Or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a Cash Kid. What's up Cash Kids and here's a fun fact for y'all. Did you know that 57% of parents have some reluctance to discuss money matters with their kids? And 50% of America's youth will learn less than their parents? That doesn't sound right. So, joining us today is the financial "dadvisor", Anthony Delauney. Mr. Delauney is a certified family financial planner, and a behavioral financial advisor, and the author of the award-winning "Owning the Dash" children's book series. He's joining us today to talk about some of these roadblocks to teaching kids financial lessons today and how a more cashless society can be a challenging way to make money tangible for kids. Plus, we'll discuss his book series and stay tuned to the end for a free giveaway. Welcome to the show, Mr. Delauney, and first off, tell us a little bit about yourself. Anthony Delauney: Thank you so much for having me. Um, so I have been a financial planner for the past 21 years. I started it right out of college, and I discovered pretty early on that I loved helping families. Since I started, I got married, had children, bought my first home, bought another home, went through all those fun stages, and realized that, um, it's hard enough to figure out stuff on your own, but when you've got to figure it out as a family, it gets really crazy. And when it comes to talking to your kids about it, it gets even crazier. Cash Kid: Mr. Delauney, we started to talk about how 57% of parents are reluctant to discuss money matters with their kids. Why do you think this is the case? Anthony Delauney: The simplest answer I can give you is, I have spoken in front of adults, uh, for some time, for 20 plus years, and I am more nervous about this interview speaking to a child than I am speaking to adults. And I think that part of the reason that it's so hard for a lot of kids to learn about these things is because parents don't know what to say or afraid of what to say. And sometimes we're intimidated around even having the conversation. They don't want to mess up for their kids. Cash Kid: That's a great point. Why is it crucial that financial planning be a family affair? Anthony Delauney: It's important because the sooner we start talking about these lessons and kind of getting the real basics of how life works, investing and all that stuff is really important, but really understanding how a budget works, understanding how money works, understanding how to live life on your own, the sooner we can start instilling those lessons and teaching them, just like brushing your teeth. As soon as you start to learn that, it becomes a habit, it becomes a ritual, and you become, it's part of your life. If we don't teach those lessons early enough, it becomes much harder to learn them later in life. And, once kids are on their own, it's, it's, we don't have as much involvement in the lessons that they learn. Cash Kid:: Totally agree with that. And so, what tips do you give parents to start the conversation with their children around money? Anthony Delauney: Sure. So, I think the most important part is, just like this conversation today, You are, you're the cash kid, but you have an intrigue. You have a desire to learn. And most children do have that desire. Even as very young children, kids want to play grownup and want to do the different activities that they mimic their parents, the good and the bad parts of what their parents do. So, um, if we can, when it comes to talking to our children, treat them like many adults, treat, treat them, like respect them. Okay. not judge them. I think that's the biggest part is when it comes to having these discussions, we want to be there for them. Let them know that they can they're in a safe environment where they can talk about things where they can ask questions where they can fail. But if they do fail, parents have to be really mindful of how they react because the kids are not only focusing on the lesson being learned, but how are my friends, my family and others treating me? Based on my response and my questions and my, you know, my mistakes. Cash Kid: I totally agree with that statement. So do you have any financial lessons to teach elementary or teenage children? Anthony Delauney: So I've had for, as I mentioned, being an advisor for 20 years, for families, I get the question a lot. How and when do I start talking to my kids about these various topics? And one thing I've noticed as a parent and as a, an advisor is that sometimes when we ...
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    16 m
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