Ryan Daniel Moran teaches his 7-year-old daughter about money by giving her $500 a year to invest in a company she picks, like Disney or Tesla. He also set up a spreadsheet where she watches daily interest earnings instead of getting a traditional allowance, and frames money as easy and abundant.
I've been teaching my 7 year old daughter about money so that she grows up having a really healthy mindset. The first thing I'm teaching her is.
That money is easy.
I will ask her what do we.
Say making money is? And she'll go easy.
What else is true.
About making money? It's fun, it's good. So I get her to think about having a positive relationship to making money that is not scarce, it's not hard, it's abundant. And it's a good thing if she makes a lot of it. The second thing that I'm doing is that I give her.
$500 at the.
Beginning of every year and to invest in whatever company she thinks is interesting. So last year it was Disney, and this year it's Tesla. And the third thing that I'm doing is I'm setting up an interest account for her.
Instead of giving her.
An allowance, I have her money in a spreadsheet with an interest rate and she can see how much money she makes every day by keeping interest. So she's actually tracking how much money she's getting from interest by having her money to work somewhere.
So I'm training her.
On mindset, I'm training her to think about companies, and I'm helping her think about saving money and investing money rather than spending money.
