How To Help Your Child Learn Money With Firstroot

#029 Although Silicon Valley in California has a lot of tech companies, a study by Chamberlain University ranks California an "F" in teaching kids about financial literacy. Luke encourages his children to read books about financial literacy and also applies his business knowledge at home.

He also created a company, "Conteneo" that helped enterprises manage their investment portfolios which ultimately helped in participatory budgeting to create better budgeting decisions. This was used in schools involving a process where kids were given money on the condition that they had to manage it themselves. They were guided through a 5-step process including a "theme"; how to spend the money, "ideation"; creation of rough proposals for how to spend the money, "refinement"; creation of details behind the proposals, "Voting"; an opportunity to ensure most students are involved, and lastly "implementation" of the ideas from students. This process gives the opportunity to teach important concepts in financial literacy. The app is free for families.

For complete show notes please go to Raising Financial Freedom

In This Episode:

· [03:05] Introduce today's guest, "Luke Hohmann".

· [03:21] How would you say financial Literacy is in Sunnydale California?

· [05:16] With you being so close to financial literacy, how do you involve your children?

· [011:37] Which age group is adopting financial literacy at a better rate?

· [14:22] What do your kids gravitate to, when it comes to financial literacy?

· [17:50] When did you realize that you had a passion for financial literacy?

· [19:43] How did FirstRoot get started?

· [21:05] What is the biggest challenge you've had to overcome after starting FirstRoot?

· [23:10] At its core, what does FirstRoot do?

· [28:01] What states are you now in as FirstRoot?

· [28:20] The best thing that has happened since doing the pilots.

· [29:30] How can parents get their kids involved in this FirstRoot program?

· [31:46] If you had to give parents good advice, what would it be?

· [33:00] What does FirstRoot have for the future?

· [36:03] How to contact Luke. Website, LinkedIn, Twitter

Links Mentioned:

https://www.thenewportbuzz.com/governor-mckee-signs-law-requiring-financial-literacy-education-in-high-schools/30536https://wjla.com/news/local/sisternomics-empowerment-summit-to-educate-black-women-girls-financial-literacyWebsite: www.firstroot.co Check out our website: https://raisingfinancialfreedom.com/ Like us on Twitter: https://twitter.com/RF_Freedom<

A podcast show for parents who want their children to grow up financially smart or free. Eric Yard is the host and he's here to talk about old, present and future ways of managing and creating money for the young to learn so that parents can teach it to them.This can be instilled into to our children at a young age and carried with them until is time to leave the nest. Some of the topics like how to teach kids to use credit cards responsibly, how to teach your child about investing, ways to teach kids about money, how to teach your children about debt, and other tips that will help your child put their best foot forward in life. The show is a mix of interviews and solo shows from Eric that you will want to bring your pen and paper for. Hit subscribe if your ready to teach your child to be the best they can be financially!

• No. of episodes: 48
• Latest episode: 2022-03-29
• Education Kids & Family How To Parenting

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