Are you a parent and an entrepreneur who’s wondering how you can set your children up for success when it comes to money and entrepreneurship?
Today, Rob Phelan joins me to share how you can help your kids get a healthy money mindset and how you can lead by example as an entrepreneur. Rob Phelan is a high school personal finance teacher, certified financial education instructor, a small business owner and the author of 2 money books for kids.
Listen to this episode to gain some insight on how you can encourage your kids to embrace entrepreneurship and prepare them for adulthood by giving them a healthy relationship with finances from the start.
In this episode Rob and I also discuss:
- Rob’s mission and how he got started in personal finance education 1:55
- How can we help our teens and kids have a healthy money mindset 8:12
- Encouraging your kids to embrace entrepreneurship 13:02
- Having honest conversations with your kids about money 24:58
Connect with Rob:
Webinar | https://bit.ly/taxesforteens
Website | https://www.choosefi.com/
LinkedIn | https://www.linkedin.com/in/robphelan/
Connect with Danielle:
Website | Kickstart Accounting
Facebook | Kickstart Accounting Inc. – Home | Facebook
Instagram | Kickstart Accounting, Inc. (@kickstartaccounting) • Instagram photos and videos
Twitter | Kickstart Accounting Inc. (@KickstartAcct) / Twitter
Book your FREE Discovery call: https://kickstartaccountinginc.com/book-a-call/
Test your Financial Health: https://kickstartaccountinginc.com/checkmyfinancialhealth/
Learn how to pay yourself as a CEO – https://www.kickstartaccountinginc.com/getpaid
Full Episode Transcript:
Intro 0:00
Welcome to entrepreneur money stories, the podcast for women entrepreneurs who want to dig into their money stories so they can break free from limiting beliefs around money once and for all. Hosted by Daniel Hayden, owner of kickstart accounting, Inc. This podcast is a series of real conversations about money mindset with valuable and action packed takeaways for the entrepreneur who's building their abundant empire. Danielle is a reformed corporate CFO who's on a mission to help real freakin female entrepreneurs understand their numbers and gain the confidence to create sustainable profits. And now here's your host, Danielle Hayden.
Danielle 0:41
Welcome to entrepreneur money stories today we have Rob Phelan on the show. Rob is a high school personal finance teacher, certified financial education instructor, small business owner and the author of two money books for kids. He is really passionate about helping teens and parents to learn more about money. This is our jam here. But you'll also find him really working hard to help our young learners develop positive money habits. Now I know I've interviewed so many people for the show over the last two years. And the theme I've heard over and over again is I wish I would have known how our money mindset was created in our younger years and brought us into our businesses. And what an amazing gift that we can now that we have been enlightened with this information, what an amazing gift to be able to give to our kids and help them be able to develop really strong money mindsets before they become adults. So here is my conversation with Rob.
Rob, welcome to entrepreneur money stories.
Rob 1:55
Hey, thank you so much for having me. I'm looking forward to sharing my story and serving your audience in whatever way I can.
Danielle 2:00
Yeah, absolutely. We were just chatting before we hit record. I heard Rob on Hillary Hunter shots podcast, Hillary is a friend and colleague. So I really appreciate you being here. When I heard your story on her show. I said we have got to get Rob on the show to talk about money mindset, our kids' entrepreneurship. And maybe you could just tell us a little bit about your backstory, because I think you have a really fascinating story. What is your mission in the world today? And how did you start this?
Rob 2:31
Okay, so I'll start with the mission? Because that's a really great question. I love answering that one. I love helping people to learn more about money to help them find the opportunities that are out there for all of us. Because money for me equals opportunity equals choice Equals freedom, all of these words that many of us and I say us like I felt this way in my early 20s and late 20s, I didn't feel like I had choices or options because I was very locked down into what I had to do for my job. Because I needed the money. And as I started gaining control of my own finances, I started realizing, you know what, this gives me a lot of choice. I can say no to things, which was a really powerful thing at the time. Like I was saying no to my principal asking me to do extra stuff for schools. I'm a teacher for anyone else now. And that was a huge one. Like my principal took it very well. But like he wasn't, I think used to this idea of offering extra money to teachers and then saying no,
Danielle 3:22
or Jericho boundary right there. Right. Like it allows you to hold boundaries, both personally and professionally. And not being tied by finances allows you to be able to create that boundary. That's beautiful.
Rob 3:36
Yeah. And then I started teaching it to kids. I was in my school, I was asked, Hey, will you take this math, personal finance class ? Nobody else really wants to teach it. Nobody really likes this topic of teaching money. And it's got math in it too. So it's just like a double whammy of things that people don't really want to teach. And I was new at teaching time. This is before I was really able to say no, and was like, Okay, fine, I'll do it. And what a huge life event for me because it forced me to start learning about money. And up until that point, I've been sort of just kind of cruising like the usual like, there's no money left at the end of the month. But I wasn't really in trouble yet had some debts like student loans and a car payment, but I was able to make it work. And my soon to be wife at the time was in a similar boat. Like we were just We were fine. We were floating through life at that point, financially, at least. And we started learning more together. And we start with Dave Ramsey, and how to get out of debt, how to just take basic control of your money. That worked really well for us to pay down our student loan debts or car loans and just kind of smash that debt and get rid of it. And then we start looking for what's next, you know, what do you do after the debts are gone? And that's when we found the financial independence community. And while I was teaching this, I realized standard personal finance is more about financial literacy where you learn what the words mean, you learn how the tax system works, or how more coverage works. And it's great. It's useful information. But it doesn't really address what I think young people and adults need to master this money mindset where you are talking about how am I going to act in this situation? How do I make decisions that are informed by financial literacy, but that are going to be best for my finances moving forward. And that's why I became really passionate about teaching personal finance and not financial literacy, and all the stuff that goes with it. I'm just basically sharing my journey with students and learning as much as I can about it.
Danielle 5:32
Where did the entrepreneurship piece come into this, right? Because you you teach both finance your money mindset, as well as entrepreneurship, where did that come in a
Rob 5:42
a couple of different ways. When we think about financial independence and building wealth, it's a very simple equation, you have to have more money coming in than you are spending. And then you just take that gap that you create, and you have to invest it. So when you want to start doing better with your money, increasing your income is one of the main ways to do it. And you can do that through your job. So you can get promotions, you can work extra hours, you can try negotiating for better pay, but you can also start your own stuff. So side hustles, or starting your own business. And that part really lit me up a lot. Like I love that there's no ceiling and how much money you could potentially make. Particularly when you start taking control of your own business and your own time. And you're not waiting for an employer to say, hey, here's a raise for the years of service you've put in. And then I had a really cool experience in high school, I went to school in Ireland. And when you get to 10th grade, it's an optional year, you can choose to skip it if you want and graduate sooner. Or you can choose to take this optional year where there's no assessments, and you spend the entire time just kind of learning a little bit more about yourself. So you try new things out to that powerful tooth, like I, of course, did not appreciate it at the time when I was in there. But in hindsight, I'm like, wow, this is like a revolutionary program. I wish the US did it. And one of the things we did was our business teacher said, Hey, you're going to start a business, you're going to plan it, you're going to come up with a product or service that you're going to provide, and you're going to actually execute and do this thing. And we did it over a semester. So like a 18 week project. And it was very intimidating at first, you know, the idea of starting a business wasn't really something that any of us had done before. But he gave us enough guidance be like, okay, find a problem that you can solve for people. So start identifying problems come up with solutions. Which solution are you excited about? Develop that like something along those lines. And we settled on a baking company. So me and two friends, we baked cookies, brownies, slices of cake, and we sold them at lunchtime to the other students. And we made like 500 euros over that time. And that, for me was I think such a huge learning moment that I can effortlessly look back on my high school career. And that's one of the memories that floats to the top because it was such an impactful time in my schooling. And I think it taught me that you can create your own income, you don't have to wait for somebody else to give it to you.
Danielle 8:00
Yeah. Have you thanked that teacher that you had?
Rob 8:03
Oh my gosh, yes. He was like somebody I talked to when I was developing my simple startup workbook. So he helped consult on it a little bit. I've sent them copies of it. I'd like to keep up to date with him. We touch base with him ever home in Ireland. So yeah, he's a huge influence in my life.
Danielle 8:19
You know what I hear that we have these mentors, sometimes they come and go out of our lives. And so I am always like, Did you let that person know? Do they know what an impact they made? So I'm glad to hear that I really appreciate you sharing that story. And it's amazing for you to see that as a young person and then be able to realize that a lot of our listeners who are running businesses are also struggling with money mindset, though we are hyper aware of what we are saying or not saying to our kids. And that goes for both money and entrepreneurship. So as you're working with business owners and teens, specifically, what are some of the things that we can be aware of as business owners that can help our teens and kids have a healthier money mindset and possibly embrace entrepreneurship?
Rob 9:17
It's funny, it's when you give a teen a business and they start running it, they somehow do a lot better with their money than they do with their own personal money. It's like they understand that for a business, it needs to make more money than it spends, but they don't quite get that for their own personal lives. So I find that when we start businesses, it's a huge teachable moment for kids. And you kind of get to draw the parallels between well, you personally are kind of like a meat Inc, sort of thing like you are a business that in the same way you need to bring in money. You need to decide where you're going to spend it in a strategic way. And then you need to make sure you're spending less than you're bringing in. And I don't know if it's helpful that I'm in a personal finance class. So when I do this with them, they're already talking about money. It's a very easy conversation to have. But I do find that That's, especially in my courses that I run online. That's when students are first talking to this. They're like, oh, oh, yeah, like that does make sense. Like I need to, I need to bring in money, I need to make a plan for where it's gonna go, I need to see what's working, what isn't working, I need to make sure that I'm achieving my goals with how I spend money, all those kinds of things that I feel like sometimes we do really well on a business and not Well, in our personal lives, or vice versa. I think you found the opposite sometimes. Entrepreneurs can struggle to make that parallel when it comes to their own business, and they do a pretty decent job in their own lives.
Danielle 10:32
Yeah, I think what I see the most is that if they're struggling in their business life, they're also struggling and they've been in their personal listeners can email me if they disagree, but I generally see that if you're struggling, and one you're struggling emotionally with both, but I wonder if as teens and kids, if you're almost more willing to be open minded and accepting of these concepts than we are as adults? What are your thoughts on that?
Rob 10:59
Yes, I guess it's, it's all about your why, like, are you? Are you there? Because you want to be there? Are you there? And because you don't and I would imagine listeners to this podcast are very open to this because they're choosing to listen, they're choosing to come in and say like, yes, teach me something, please, about how to do better with my business. And I fortunately teach a class where a lot of the students I have have signed up for that class where they're coming in with this idea. I want to learn more about money, I want to build wealth, or I want to avoid the financial mistakes that my family has made before me. And I find that they are generally better listeners. But you're right, like when you start talking about their own business, and you give them the space to create something, they don't really get that opportunity very much in high school. So when you're like, hey, here's your here's your sandbox, I want you to make something that you're really passionate about, you're excited about, and it's gonna make you money. They're very receptive to like ways to make that better, as long as I'm not dictating to them that like you need to do this this this and this, they're they're generally a very good audience for okay, like Yeah, I can see the benefit of that I see how this applies to my life or to my business and you're telling me is gonna make me more money in the end? Okay.
Danielle 12:07
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Rob 13:10
In my online course, if a kid is signing up for it, it's a little bit of both. Sometimes you have a parent who's like, I want my kid to learn about this, sign them up and the kids turn up the first thing like what am I doing here, I don't know what's going on. And then other times, it's the kid being like, I really want to start a business. And parents are like, well, I don't really know how to help you with that. But hey, here's this course that you can take where he'll show you exactly what to do. And those kids are super motivated to learn and to start something. And they usually have an idea of some sort in their life class. It's a mixed bag. So if I'm teaching in high school, some kids are blank slates, they have never thought about starting a business. And they've never had the space to be creative like this. So it's very, it's a very slow start to kind of start coming up with ideas. And then others have come from entrepreneurial backgrounds, either their parents or business owners, or they have been a very creative person for a lot of their life. And they've, they've already embraced the idea of starting something. So they have like a bunch of ideas, and then you just figure out which one to do. So it's a very mixed bag, and you can start a business from whatever spot you're at, whether it's I don't know what I'm doing, I have no ideas, or I've got 100 ideas to help me pick which one.
Danielle 14:18
So let's say that we are a parent who wants to encourage our kids to think about entrepreneurship without pushing now I'm a mom of a 17 year old 13 year old and if it's in any way shape, or form my idea or I'm we're pushing them in any way and this is for anything right now just running a business, you know, encouraging them to do something kids tend to, you know, say alright, that's what mom wants, I'm gonna go the other direction. Are there any ways that we can think about as as business owners and parents to encourage our kids to think about entrepreneurship? You know, as you've worked with so many kids throughout the years, is there anything that we can be?
Rob 15:00
And I asked you a quick question, of course. So your teenager tells you they really want to do something or buy something and it costs more than they currently have. What do you say to them,
Danielle 15:11
we need to work for it, we need to save for it.
Rob 15:13
So yeah, like you're coming from the point of view, like, I'm not going to just hand this to you, you're gonna have to earn it in some way. And I think that's the great opening for this is that your kid is, at some point, inevitably going to say, I want something, and my three year old has already started doing it. So it's gonna go all the way up to, they want stuff. And if you're doing an allowance to teach them about money from a young age, that's great. The allowance should never be enough to satisfy all their wants and needs, it should be kind of like bare minimum wage where it's like, they can buy one or two things, but they need more. And then you're just there to say, Oh, you need more? Well, here are some things you could do to earn more. And one of those options being Why don't we try starting a business? Maybe you can sell something that would create the money that you need, because I'm not going to give it to you. And I don't know what your perspective is on chores, what I've found, at least in my research is that you know, your base level chores for the house should be something that they're not paid for. If there's something Adesh extra, like, I don't know, painting the fence or washing the car, like maybe you can put $1 amount on that, but it's probably not enough to afford like this big concert ticket or new bike or whatever it is that they're after. So you start saying, Okay, what are some ways that you could make some money and you just keep asking them questions and see what they come up with? And if they're kind of shrugging their shoulders like I don't know, well, then you maybe could be like, would you? Would you like some help? Like, I can find some ways to help you if you'd like. And I think if you always, like you said, you're not dictating, you're just offering to kind of guide them through this. They're much more receptive to it. So like, you can start offering them things like, Okay, well, what are some problems that people your age are having? Like, what do you complain about? What are your friends complain about on a daily basis? And you just start going through that, then you might be like, Okay, what would a solution to those problems look like? And it can be as off the wall as you want, like, we're not going to push anything back or say that's not possible yet. And then you start to say, Okay, let's look through those. And which of these do you think maybe you could provide? Or is there a way that we could make this happen? And you might go that way. So it's a collect and connect method of coming up with a business idea. You could look online and be like, what are some business ideas for teenagers or for 10 year olds, or whatever it is, like, there's somebody out there who's made this list already. And there's a lot of inspiration out there. I have a 101 business ideas for young entrepreneurs document as well, if you ever want to check that one out, and work in the audience find that the simple startup.com forward slash ideas. But yeah, that's just 101 ideas that I have brainstormed. And I've actually probably got another 100 since then that just haven't added to it. But just ideas that could either stimulate more ideas or different ideas for your kid or they could be like, yeah, I could do that. Like, I could pet it, I could mow grass, I could wash cars, I could walk dogs, I could make jewelry and try to sell it online. I could do lemonade, like whatever it is that your kids are looking at, like, okay, yeah, I could do that. And they don't have to be like, over the moon excited about this first idea. You just want them to start something, try it out, go through the steps of starting a business and then figure out very quickly what is gonna work or not. And if it works, great. How do you build on that? Or do you want to try something else? If it doesn't work? Like why don't you think it works? Let's try something different? Or can we change something and you're just kind of this person sitting in the background? Just be like, Oh, hey, you're doing something cool. Like got any questions? No. All right, keep figuring out good, you got it. And I
Danielle 18:35
love that you said what's working, what's not working? Right, and that we can pivot. And I think that's a lesson that whether we're talking about our kids or ourselves, we can constantly be evaluating what's working in this, what's not working and, and take the opportunity to pivot. So I think we can learn a lot from trying to teach our kids like, what are the fundamentals that we need to go back to as well? And, you know, kind of what you're talking about is just going back to ideas, right? How can we creatively think and creatively solve problems? Again, whether we're talking about our kids, or we're talking about ourselves as business owners? How can we be doing things differently? So I think that those are two really special special lessons. I love what you said about allowances, your allowance, your minimum wage, I'd love to hear your stance on this. For a while there. We were doing kind of either, like trading time for money in our house. And so I talked to the kids about doing more of a project base, right? So here's a list of projects and you get paid on completion, thinking that might encourage them to just think differently. And that doesn't mean that I'm insisting on them. You know, like I deep down really want them to be an entrepreneur. I'm okay with it either way, right? So if they decide that they want to take a position working for somebody else, I support that just as much as entrepreneurship. It is not for everybody, but encouraging them to think about both ways that They can't accept and earn money.
Rob 20:02
Yeah, the allowance is, for me, an opportunity to practice handling money. So actually don't even view it as a wage, I view it more like, I don't know, the worldwide livable income that you see in some countries where it's like, here's your allowance for being alive. It's not enough to really have any sort of quality of life on but hey, it's something to get you started. And then you're still going to have to earn the rest to get all the things that you want. And we started at a very young age, like the research will show that you can start as young as two or three years old with teaching kids about money. And that's what prompted me to write my kids book extra money. That's crazy.
Danielle 20:38
I would have never thought that I would have thought 1012
Rob 20:43
It's like the moment they start saying, I want something in a store. Like you're like, Okay, here's my TEACHable moment, we're starting this conversation. What? Why can't you just pull that thing off the shelf and walk out with it? Oh, you have to trade money from it. Where does money come from? Well, mommy, daddy, grandma, grandpa, whoever it is, we go to work and we earn this money, or we have our business where we sell things, we earn the money. And then we trade that for the things that we want. And you can start really quickly building up that idea, like my son already at three understands that he can just take what he wants out of the store, when we go like I take him shopping with me all the time. And I know some parents out there like what no way like it's a nightmare to take my kid shopping. And it can be us, you know, other parents in the store. And I know it can be but what we've done from a very young age, as we've said, there's a plan. When we go into the store, there is a list that mom, in our case, Mom and I have come up with beforehand, other things that we are going to get. If it's not on the list, we're not getting it today, we can put it down and write it down for next week. But we're sticking to the things that we planned out and showing and modeling that there is an intentional way that we spend our money. And then we started an allowance with him just this past November. So he was about three and a half when we started. And he's getting $3 a week. And every time I handle the money on Sunday, so I have the cash taken out of the bank, I took like $150 out of the bank and just have it in cash ready to go. So every Sunday, I can just hand him three $1 bills. I'll ask him like, you know, do you want to go spend this money right now? Do you want to wait? And eventually he started like he was spending it every week he was buying like a little matchbox car or something like that, which is great. Spend it. Absolutely. And then he saw something else that he wanted. That was $10. I'm like, Okay, well, that means that you will have to keep your $3. And do that for three or four weeks until you have your $10 to spend. And sure enough, he made a little chart. So we drew a picture of this truck that he wants to get, we put 10 circles on it for each dollar. And every time he goes $3 He marked off the circles. And when he got to 10, we went and got the truck. And he was just very, I think excited by the fact that he had saved and he had bought something with his own money. And we were celebrating this the entire way. We're like you did this, you saved your money. You spend your money on something you wanted and really praise, the tact of saving and the reward that comes from saving. So I think for him, at least at this very young age, saving is not a bad thing. It's not a negative thing. It's not putting your money in timeout and saying well, no, you can't have that. It's something that he's like, Okay, if I want, the cool thing is like I can save my money for it. And he changes his mind. Sometimes he's like, um, he's currently saving for like a $40, like stainless steel dump truck kind of thing. And then he's like, actually, now I think I want to crane instead, now tow truck, and he'll just change his mind about what he wants. But as soon as he has the money for it, we will go out and let him spend it. And we'll try and make those goals bigger and bigger each time. But long story short, the allowance for me is not a it's not a job. And it's not a wage.
Danielle 23:39
Yeah, that's great. Thank you for sharing all that. I think, you know, leading by example. And just opening the door for the conversation. I recently shared on the show that I was interviewing my daughter and her boyfriend and her best friend for the show. And I said, what are some lessons that you wish I would have said like some things I would have taught you. I asked both her friends the same two questions. And I thought her boyfriend Shea said something really profound. He said, I wish my parents would have said literally anything. We knew they didn't talk about money at all. He was, I didn't. We didn't talk about money. And I think that was really, really impactful because by just the act of us having the conversation with our kids in front of our kids, it's acknowledging that it's okay to talk about money because again, a big reason for the show is just when people come to us at kickstart they they are scared to talk about money, it's taboo. It's and then we have to keep hush hush behind closed doors. So just opening up the conversation with our money team, with our families, with our kids. They can really go a long way so that we're showing them that they can have those same conversations and be a little bit more open, honest and trusting with people in their life to be able to respond accordingly.
Rob 24:58
Comes what feels comfortable to you. You think the same way we feel as taboo, it's also a lot of shame and embarrassment that comes around money that we haven't done the best job ever, with money. So who are we to start talking to our kids about it, and maybe we're a little afraid that they will learn more about the mistakes that we've made with money or how we're currently handling money. And if you're feeling that, like, I'm not doing a great job with money, right now, then you're in the right place, like you're learning about it currently, which is the first place to start. And then I would start like, maybe using other resources out there. Like the book I created, Mister Money was created for that very purpose of starting conversations with young kids about money. It gave different money words, a little story that kind of illustrated how that word is used. And then a question that was supposed to be a discussion between the adult and the kid reader. And some of the questions are things like, you know, what would you do with an allowance, what's the need, what's a want, and it gives you this safe space to start talking about money without worrying that they're going to pry too much into what you have personally done with yours. And
Danielle 25:58
you don't have to come clean their kids.
Rob 26:01
And there's definitely like healthy boundaries in terms of what your kids need to know what they don't need to know. If your family is really struggling with finances, and having a very hard time, like, we don't necessarily want to bring that stress on our kids. That's not an appropriate conversation to have. But you can certainly talk about things that you have done in the past that you would do differently. You could say like we currently budget right now, like we sit down together once a week, and we make a plan of how we're going to spend our money or I do this by myself, or I try and plan out what the costs are for the month. Or if you want to do something really cool. In four months, I start putting aside money for that every month, just little habits, things that you are doing. If you see scenarios pop up in everyday life, you can start just breaking it down with them. And just again, being that sounding wall asking them questions about what they think about it, how would they act? What would they do? And if they ask you more like you can answer it whatever way you feel comfortable. One of things I really like is that someone else said I forget who said it, but it was if your kid comes up to you and says okay, are we poor? Or are we rich? Or how much money do you make? One of the things you can do to kind of defuse that situation is I'm really curious why you're asking that question. And a lot of times you'll get like, Well, Sally next door and when we pick Sally, but Sally next door has, you know, a pool in their backyard, and we don't and that mean that they're rich? And we're not. And you can like the conversation is really about what is rich? What is not? Or how people choose to spend their money. And you can usually answer that question without saying yes, we're rich, or no, we're not or we have high income, or we've low income or in a lot of debt, like the things that you don't really want to share right now.
Danielle 27:32
Yeah, and might not have even answered their question, right? Like, you could say, Yeah, we're rich, that didn't really actually answer their question about why we have the pool or don't have the bowl, right? Is there anything else that you can think of that, that you wish for our listeners to know anything and ask you that you wish I would have,
Rob 27:52
when it comes to starting a business? Really, I think the two things that are so important for kids are that they're excited about what they're doing, like we've talked about, you're not dictating to them, Hey, go go start a lemonade stand in the corner now. So you can make some money like that they're excited about it, they're coming up with it, and that they're creating something that they can sustain. And I'm sure you've talked about this as well, like a lifestyle business is one which actually fits within the desired lifestyle that you have. So I work with teenagers every day, a lot of them are really busy. Like their schedules are packed with school activities, homework, clubs, societies, boyfriends, girlfriends, friends, like you name it, they've got it in there. And so many tell me like, I just don't have the time to do this. And I'm like, You're totally right, you don't let's look at your time, let's see where there is time. And then let's plan for a business idea that fits in that time. So don't don't let them start something that they can't sustain. Because it's going to take up, you know, 20 hours of their lives. It's like when kids tell me like, oh, I want to start a YouTube channel. And it means that they're going to record stuff, they're going to edit it for hours. And like, it's like, you don't have time to do that. You're not gonna keep that up, you're gonna give that up in a week. And you try not they don't realize
Danielle 28:59
how time consuming is right? Before we started gas, people said to me, it's a long game and takes a lot of time. So absolutely helping them understand that.
Rob 29:08
And you don't want to shoot down their idea either. Like you don't say, No, it's a terrible idea, you won't be able to do that. You just want to ask them more questions about it. You know, what's going to go into this business? Where will you find the time to work on this? I know you're super busy with these other things? Are you going to be able to fit all that in there? You've chosen something that requires you buying stock up front? Where's that money gonna come from? Is there a way you could do this for free? Or super cheap to start and then use that money to fund the next stage of your business? So just ask lots of questions. Parents just take an interest, ask lots of questions. All of you I think are probably entrepreneurs anyway are thinking about it. So you know, the kinds of questions to ask. And just get them to think, get them to ponder those things that you have figured out for yourself along the way. And they're shocked at what they can come up with when you give them the space to do it.
Danielle 29:54
Yeah, let them be curious. I think as adults we lose some of our curiosity and I think we have to think realistically, letting our kids' dreams be unrealistic. Ask the questions, right? Help them create curiosity. That's beautiful. Where can the audience learn more about you, your reach, your you and your work?
Rob 30:14
Okay, so I have a couple of different things. I run a brand called the FIE educator where I create resources for other teachers and homeschool parents who want to help teach their kids about money. So you can check out the fire educator.com If you are looking for more videos and things like that, to teach your kids about money, I have a YouTube channel where I've been recording guest speakers coming into my classroom. And they've been talking about different personal finance topics, directed exactly at teens at high school students and answering their questions at the very end as well. And so I have one coming up soon. It's called taxes for teens. So I have a tax professional coming in to talk about all questions related to taxes for teens. So if you go to bit.ly forward slash taxes for teens, you'll find that video and that will also take you to my YouTube channel where you can find the library of the other topics that I have as well.
Danielle 31:04
I'm definitely going to share that with my daughter. She's reading Rich Dad Poor Dad right now. And I think that's got her wheels turning and I think that's that's really good stuff. It's hard for us to explain, you know, how do you read your paycheck stub? And how do you think about taxes and so having those expert guests will be a really fabulous tool for our listeners to help with their kids. Thank you so much for your time today. I can't thank you enough.
Unknown Speaker 31:28
Thank you for having me appreciate it.
Danielle 31:35
Rob has an amazing wealth of knowledge and I can't thank him enough for coming and sharing that with you our listeners and I would love to hear the strategies that you plan on implementing with your kids. This is a sensitive topic that really needs to be handled in a safe non judgmental way. And so I'd love to hear about what you're doing. You can send us an email at support at kickstart accounting inc.com or on Instagram at kickstart accounting. We have so many more great guests coming up. Don't forget to like and subscribe so that you don't miss a thing. Until next time.
Transcribed by https://otter.ai
