This week on the Teach My Teen About Money podcast, we talk with coach Rachel Murphy, author of the book I Am Not Your ATM: A Practical Plan for Teaching Your Teen to Manage Money.

Rachel and her husband give each of their five children a salary and expect them to take care of their own expenses. They don’t do it all at once, but gradually, so by the time their kids leave the nest, they can manage their money well because they’ve been doing it all along.

Rachel says it is great not only because it helps kids learn money management skills, but it also reduces stress around money between parents & kids.

We also talk about meal planning, automating your financial life, and while saving is a top skill to learn as early as possible.

Mentioned in this episode

Set for Life: Dominate Life, Money, and the American Dream by Scott Trench

The One Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller

Listen below, or in your favorite podcast app. And learn about more episodes on the Podcast page.

Thanks for listening!