10 Money Management Rules For Teens & Young Adults: A Conversation With My Daughter LIVE WELLthy™ podcast

10 Money Management Rules for Teens & Young Adults: A Conversation with My Daughter

2y ago 36:48

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Host Dawn Dahlby chats with her daughter, Olivia, about managing money. This unscripted conversation is designed to help listeners in their college years or just starting out in the workforce understand and get on the right financial path.

Listeners will learn:

The importance of avoiding credit card debt
Tips for investing your savings and the power of compounding interest
Strategies that parents can use to help their children build credit

The key moments in this episode are:

00:00:00 Intro

00:02:20 Lashify hack for perfect lashes.

00:04:52 Building internal and external wealth.

00:06:30 Olivia's first experience with investing.

00:09:05 Dawn's 2 main money secrets.

00:11:27 Rule #1 - No Credit Card Debt.

00:13:02 Rule #2,3,4 - NO CREDIT CARD DEBT.

00:13:55 Rule #5 - Save a percentage of your income.

00:18:21 Rule #6 - Automate your savings.

00:23:30 Rule #7 - Create Power Cash reserves.

00:26:18 Rule #8 - Building Credit for Future Investments.

00:32:44 Rule #9 - Creating a spending plan.

00:34:07 Rule #10 - No Credit Card Debt.

00:34:24 Episode Summary

"I want you to build the internal personal security and have the external financial security so you can live in freedom." - Dawn Dahlby

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