My friend Molly Liggett and I talk about the many experiments we've tried over the last decade or so to help our kids learn how to manage money. We talk about allowance vs. paying per chore, and we get into the nitty gritty details about how much we pay our kids, what we expect them to do around the house, what they pay for themselves and what we buy for them, plus what we do when they owe us money and how we encourage them to save.

This month at the Family Lab, we're teaching kids how to manage money. This week, we talked to Lauren Santagate of The Anti-Chore Moms about her family's financial system: how her kids earn, spend, save, and invest using the Greenlight card. Lauren explains her system of paying her kids when they add value to their family, their community, or to their own brains!

You can find more information about The Anti-Chore Moms Family Exchange System at womenswealthsociety.com and follow them on Instagram @the_anti_chore_moms

It's Money Management month at the Family Lab, and we're kicking it off with author Richard Eyre to talk about the family economy he and his wife Linda set up decades ago. In this episode, we talk about how to avoid raising entitled children and about why teaching kids to manage money is such a great way to teach them self reliance and responsibility. He'll share how their kids earned money, how they learned to manage it, and how the system evolved as they grew up. And Richard even helps me figure out how to handle the next stage of financial education for my own kids—as they start going to college!

You can learn more details about the Eyre's family economy in their book, The Entitlement Trap.

And listeners can get 40% off Richard Eyre's new book, The Grandparenting Blueprint. Just use the code EYREFRIEND at checkout.

https://familius.com/book/the-grandparenting-blueprint/