How To Raise Kids That Manage Money Better Than You Do

The Single Most Effective Tool To Inspire Kids To Become Expert Savers.

Our plan was to teach our kids how to save money so they could put themselves through college and make financial choices that would direct their futures.

We were living our dream, traveling the country in an RV with three kids, no house payment and adventures every day, but we were on a tight budget. We could only continue our travels if we spent less than we made, and had some savings. No way could we put three kids through college with our cash flow.

While combing through books of parenting advice, I stumbled on a bizarre idea. Pay your kids interest. LOTS of interest. Incentivize them to save money. We couldn’t come up with hundreds of thousands of dollars to give our kids the college education we wanted for them, but we could afford to pay them 10% interest each year. If the kids became expert money managers, they could choose their own paths, whether that was to invest in college, buy a home, or build a business.

Just how did we transform from typical suburban family life to traveling the country in an RV for 12 years? Read “How We Capitalized On Our Financial Blunders.”