Episodes

  • A Teen Entrepreneur’s Baking Business: HOW A TEEN BALANCES SCHOOL & A BAKING BUSINESS

    A Teen Entrepreneur’s Baking Business: HOW A TEEN BALANCES SCHOOL & A BAKING BUSINESS
    Oct 29 2024
    A Teen Entrepreneur’s Baking Business: HOW A TEEN BALANCES SCHOOL & A BAKING BUSINESS 00:00:00:00 – Intro Cash Kid: What's up, cash kids? Welcome back to the Cash Kid Podcast! We're in season three, and this season we’re exploring fun and creative ways for kids and teens to learn about money, entrepreneurship, and setting up their own side hustles. Today, we've got an exciting guest—someone who's already turning her passions into profits. Be sure to follow us on Instagram, Facebook, and YouTube @CashKidPodcast or sign up for our mailing list at CashKidPodcast.com. 00:00:27:18 – Introducing the Guest Cash Kid: Today, we’re talking to a high school freshman who’s taking her love for baking and turning it into a business. She’s whipping up more than just sweet treats; she’s making some extra cash on the side! This young entrepreneur is using her skills, creativity, and hustle to run her very own baking business, and we’re thrilled to share her story with you. Stick around to hear how she’s doing it, the challenges she’s faced, and why we consider her a true Cash Kid. 00:01:45:03 – Guest Introduction Cash Kid: Joining us today is Sadie Norris. Sadie is a fellow Cash Kid, using her talents and entrepreneurial mindset to make extra cash. She runs a baking business called "Sadie's Sourdough and Sweets." Just the mention of it is making me hungry! She’s baking up a storm weekly for clients, and we’ve asked her to join us to talk about how she’s using her baking skills to make a profit. 00:01:54:16 – First Question Cash Kid: Welcome to the show, Sadie! First off, tell us a little bit about yourself. 00:02:07:10 – Sadie’s Baking Journey Sadie Norris: I’ve always loved to bake. I make sourdough bread with my mom, strawberry pie by myself, and I use my sister’s chocolate chip cookie recipe. 00:02:18:22 – When Did You Start Baking? Cash Kid: So, when did you start baking and learning how to make these things? 00:02:32:11 – Selling Online Cash Kid: Do you have a website where people can buy your baked goods? 00:02:47:16 – Shipping Cash Kid: How do you ship your items? 00:03:01:20 – Why Start a Baking Business? Cash Kid: What gave you the idea to use your talent and skill to make some extra money? 00:03:23:01 – Other Ways of Making Money Cash Kid: I know baking isn’t your only way to make money because we worked together at the local concession stand this summer. What are some other ways you’ve worked to make money? 00:03:38:14 – Finding Clients Cash Kid: How do you find clients to buy your goods? Do you run ads on Facebook or just post in groups? 00:04:04:23 – Feeling of Earning Your Own Money Cash Kid: How does it feel to make your own money? 00:04:22:07 – Saving vs. Spending Cash Kid: You’re going to be a freshman. Are there any big purchases you’re saving up for, or do you just spend your money as you go? 00:05:08:03 – Advice for Young Entrepreneurs Cash Kid: What advice would you give to kids and teens who are thinking about starting their own side hustle or business as a student? 00:05:21:08 – Balancing School and Business Cash Kid: How do you manage your business while still being a full-time student? 00:05:47:06 – Lessons Learned from Running a Business Cash Kid: What have you learned from running Sadie’s Sourdough and Sweets? 00:06:10:07 – Time Commitment for Sourdough Baking Cash Kid: I’ve heard that sourdough can take a while to make. How long does it take you? And if you get a lot of orders, how do you keep up? 00:06:52:08 – Best-Selling Items Cash Kid: You also sell cookies and pies. What’s your best-selling item? 00:07:05:17 – How to Place an Order Cash Kid: How can people place an order, and how do they get their goods delivered? 00:07:41:01 – Clarifying Pickup and Delivery Cash Kid: Just to clarify, do you do porch pickup, or do you drop off orders? 00:08:04:18 – Pricing Cash Kid: What are your prices for cookies, pies, and sourdough? 00:08:22:22 – Expanding the Business Cash Kid: Do you have plans to expand your business, add more items, or sell online? 00:08:45:05 – Baking Mishaps Cash Kid: Have you ever had a batch of dough go wrong or made a mess in the kitchen? 00:09:19:26 – Friends’ Reactions Cash Kid: What do your friends think about you running this business? 00:09:45:09 – Conclusion Cash Kid: Sadie, we appreciate your time and expertise! Thank you for joining us on the Cash Kid Podcast and boosting the financial knowledge of fellow Cash Kids everywhere. Remember, anyone can be a Cash Kid—you just have to learn how to become one. Cash Kid out! 00:10:04:10 – Disclaimer The information presented represents the views and opinions of the guest. This podcast is for informational and educational purposes only. It does not provide personal investment advice. Speak with a financial advisor—and for kids, definitely your parents—before making any investment decisions.
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    10 mins
  • Balancing Books and Business: A Teen's Tutoring Business Journey

    Balancing Books and Business: A Teen's Tutoring Business Journey
    Oct 15 2024
    What's up, Cash Kids? Welcome back to the Cash Kid Podcast, where we highlight young entrepreneurs learning how to earn, save, and invest at an early age. We're continuing our special series on kids with a serious entrepreneurial mindset, and today’s guest is a great example of that. **Host:** If you aren't already, be sure to follow us on Instagram, Facebook, and YouTube @cashkidpodcast or sign up for our mailing list at [cashkidpodcast.com](https://www.cashkidpodcast.com). **Host:** Our guest today is a high school sophomore who’s not only super involved in his community but also runs his own tutoring business. Balancing academics, extracurriculars, and a business, this young entrepreneur is making moves to set himself up for financial success. We’re excited to dive into his story and learn how he's managing it all while gaining valuable skills that will serve him for years to come. Stay tuned as we talk about how he’s helping others while building his own path to success, truly embodying the spirit of a “Cash Kid.” **Host:** “So, you've got some cash? Maybe from allowance or that money your grandma gave you for your seventh birthday. Whatever it is, what are you going to do with it? Spend it? Hide it away? Or maybe invest it? Let’s start learning how to make that money grow. Time to learn how to be a Cash Kid.” **Host:** Joining us today is Matthew Farmer, a sophomore in high school who runs his own tutoring business. Welcome to the show, Matthew! First off, tell us a little bit about yourself. **Matthew:** Hi! Yeah, it’s great to be here. My name is Matthew. I am the secretary for Model UN, I have my own tutoring business called Matthew’s Tutoring, and I’m in several other clubs. I do cybersecurity on the side and I’m part of a club called Educators Rising, where we do volunteer work. That’s all about me! **Host:** That’s amazing! So tell us, what are your thoughts on kids using their talents to make money? **Matthew:** I think it’s really important that kids use what they already know to make money. I felt like tutoring was a solid thing for me to do because I knew what was being taught in class and could help kids who were struggling. I thought, why not make a little bit of money off of it? It’s been going really well. I think it’s important for kids to do that because it teaches maturity, responsibility, and how to handle their money better. **Host:** I definitely agree! There’s always someone with a skill who can help others. So, what gave you the idea to start tutoring? **Matthew:** It’s actually a funny story! Someone from the school reached out to me to tutor as a volunteer, and I did it for a couple of months for free. I had a lot of students, and it got to the point where I was spending my own money on notebooks, markers, and supplies. I realized, with all the time and effort I was putting in, I should turn it into my own business because I found out I was really good at it. **Host:** That’s great! So, how do you get clients or find students to tutor? **Matthew:** I mainly advertise on Facebook, and I have a Google business account. If you search for tutoring in my area, I pop up in the search results. Occasionally, I go door to door, but I don’t do that too often. **Host:** How do you manage your time with tutoring and being a full-time student? **Matthew:** I plan everything out using Google Calendar. I set aside time after school for tutoring, and if I’m doing something else, I have people who work for me who can take on students. That way, I can still have time for myself. **Host:** What subjects do you typically tutor? **Matthew:** We tutor in a variety of subjects because we have different tutors who specialize in different areas. I like to focus on math and science, but we also tutor in subjects like Spanish, world history, and area studies. We offer a wide variety of subjects. **Host:** What have you learned from being a tutor, and how has the money you’ve earned helped you? **Matthew:** The money I’ve earned has helped me a lot. I’ve been able to save up to buy a car since I’m 15 and will get my learner’s permit soon. It’s nice to be able to buy things for myself and even buy gifts for my family. I also save and invest my money, which is really important. **Host:** That’s awesome! You mentioned you have employees. How did you get your first one? **Matthew:** I reached out to one of my friends who didn’t have a job or only worked a little bit. I knew they were really good at math, so I asked if they’d like to work for me. It’s better than a regular job because I pay more than what McDonald’s pays, and the hours are flexible, which is great for students who do sports or have other commitments. **Host:** Have you worked other jobs as a student? **Matthew:** Yes, I’ve ...
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    9 mins
  • A University that Teaches You How to Become a Millionaire, What!?: Our interview with Millionaire University Podcast

    A University that Teaches You How to Become a Millionaire, What!?: Our interview with Millionaire University Podcast
    Sep 30 2024
    A university that teaches you how to become a millionaire? What?! Our guest on the show will explain, coming up. So, you've got some cash. Maybe from an allowance, or that money your grandma gave you for your 7th birthday. Here you go, sweetie. Woohoo! Thanks, Grandma! Whatever it is, what are you going to do with it? Spend it, hide it away, or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a cash kid. Welcome back to another episode of the Cash Kid Podcast. I'm so pumped about today's guest on the show. They might have only agreed to come on the show because I'm a kid. And how can you say no to a little kid? But whatever it is, I'll take it. Don't forget, if you aren't already, to follow us on Instagram, YouTube and Facebook. We love interacting with our audience on these platforms. And [00:01:00] be sure to subscribe to our podcast and leave a review from wherever you're listening. Joining me on the show today is Justin and Taro Williams from the Millionaire University Podcast. Their motto is, graduate rich, not broke. I'm hooked just from that. Millionaire University believes that anyone can start and grow a successful business. It's your school for wealth creation and on their show they interview experts from numerous industries to help you start and grow a successful business. Mr. and Mrs. Williams, welcome to the show and first off, tell us a little bit about yourself and your business background. Woohoo! That was horrible, let me do that again. Woohoo! Yeah! That's better. I was like, wow! Man, Cash Kid, we are pumped to be here. I came across your podcast, like Few weeks ago and I couldn't stop listening. I was hooked. I love what you're doing. Uh, yeah, I'm going to have, we're going to have our kids listen to it. So thank you so much for everything that you're sharing with everyone. First of all, we've learned a lot from listening to you. So thank [00:02:00] you. You're welcome. And thanks for having your podcast for me to listen to. So go ahead. Perid, do you want to kick it off and share a little more about, about us and our background? Yeah, I'll give you a little bit of our personal background. So Justin and I, we just celebrated our 20th year anniversary. We got three kids. So we have an 18 year old boy, 16 year old daughter, 14 Uh, we live in California, San Diego area, and we have been running businesses together for about 20 years. 20 years! Can you believe that she's been able to handle me for that long? I'm a lucky lady. I have an awesome husband. Oh, I'm blessing. But yeah, we've had some ups and downs. And if you kind of want to share a little bit more of our business background. Yeah. So I've wanted to have a business my entire life. I just didn't know a whole lot about business, but when I was young, your age, or even younger, I would go to Costco and buy candy and try to sell it. And, um, this is a little, I'm not sure if you're supposed to do this, but my mom would [00:03:00] buy the, like candy bars when we were, you guys today, you just like send out a text and we give you money for your fundraisers at school. But when I was younger, I would sell like candy bars at grocery stores. So my mom would buy the candy bars. As if we were doing like a fundraiser, we'll go sell the candy bars. And, um, we were doing all kinds of stuff. I would raise lovebirds and animals and hand feed them and sell them. So I was always just trying to figure out how I could make money, but I always want to have a business, but they didn't really know a whole lot about business. But my parents were in lots of like multi level marketing things, and they never really made a lot of money in those, but I went to like some events and. Some things that kind of got in my head. Um, when I was in high school, I read a book called Rich Dad, Poor Dad. And that really helped me kind of like change the way I thought about about money and business. So I always knew I wanted to have a business. I always knew I wanted to invest. I always knew I wanted to create wealth and be able to do cool things in my life. [00:04:00] So, um, fast forward, went to college, uh, went to Brigham Young University and had a football scholarship. And that's where I met Tara. And so we met and we ended up getting married and I told her like, I hurt my shoulder and I knew I wasn't going to play football anymore and I knew I wanted to start a business. And at the time I was selling satellite dishes door to door. And after doing research, I was like, Hey, I think we can make like three times as much money if we start our own business doing this instead of doing it for this other company. So I got paired a quitter job as a third grade teacher. And we went for it. And we were pumped. We're going to make a million dollars within a year. And what do you think happened within a year? It didn't go as planned. It did not go as planned. At first, it was going pretty well when I was just selling on my own. ...
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    37 mins
  • Jobs Kids and Teens Can Do: Kicking Off Season 3 of the Cash Kid Podcast

    Jobs Kids and Teens Can Do: Kicking Off Season 3 of the Cash Kid Podcast
    Sep 24 2024

    You don’t have to wait until you’re grown up to start making your own money. Whether you want to save up for something big or just have extra cash for fun, a side hustle could be your answer.
    But where do you start?
    Stick around—I’ve got alot the tips you need to become a money-making Cash Kid!

    Hey, Cash Kids!
    Welcome back to the Cash Kid Podcast, where we teach you tips and tricks to making, saving, and growing your money as a kid or teen.

    I’m the Cash Kid, and guess what?
    We’re kicking off Season 3, and this season is all about…drumroll please… jobs kids can do!

    That’s right! This season, we’ll explore all sorts of jobs and side hustles you can try to earn some extra cash, even if you’re still in school.


    From mowing lawns to babysitting, from pet sitting to selling crafts online, we’ve got all the ideas you need to start earning.

    Whether you want to save up for that new video game, a special pair of shoes, or maybe you’re like me and want to invest in some stocks—this season is for you!

    ( And we’re definitely gonna talk about stocks here and there… I’m a little angry with Tesla… but yet… I want one.)

    So, today’s episode is a short one, but I want to give you a sneak peek into what’s coming up in this season:

    We’ll talk about how to find jobs in your neighborhood—the ones that pay you for your effort and responsibility. We’ll share tips on starting your own mini business—ever thought about setting up a lemonade stand or a dog-walking service? Plus, we’ll even dive into saving, spending, and investing what you earn—because being a Cash Kid isn’t just about making money. It’s about learning how to use it wisely!

    And don’t worry if you’ve never worked a day in your life—we’ll walk you through it all.

    We’ll also have some special guests on the show who will share their stories of how they got started and give you tips to help you succeed.

    Oh, and maybe you could help us out here on the show!

    If you know a kid or teen who is doing something to make money, we would love to feature them here on the Cash Kid Podcast.

    Just email us yourself or have a parent reach out to let us know what you’re doing at cashkidpocast@gmail.com.

    We want to spotlight as many fellow “Cash Kids” as we can!

    Next Monday, we’re diving into our interview with another podcast called Millionaire University. It’s going to be our longest episode yet and young and old a like can learn so much from what these two millionaire entrepreneurs have to say about us kids making our own money… and even millions… one day!

    Alright, Cash Kids, I’ll leave it there for now.

    So, make sure you subscribe or follow the podcast and follow along so you don’t miss out on any of these great ideas. Also be sure to follow us on Instagram, Facebook or YouTube @cashkidpodcast.

    Remember, anyone can be a Cash Kid—you just have to learn how to become one.
    Cash Kid, Out!

    Disclaimer:

    The information presented represents the views and opinions of the guests. This show does not intend to provide personal investment advice through this podcast. This content has been made for informational and educational purposes only. To make a full and informed investment decision, we advise you to speak with a financial advisor and for kids, definitely your parents first before investing.
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    4 mins
  • It's Over! Reflecting on Financial Lessons and Sneak Peek into Season 3 | Cash Kid Podcast

    It's Over! Reflecting on Financial Lessons and Sneak Peek into Season 3 | Cash Kid Podcast
    Sep 9 2024
    00:00:00] It's over! Not the podcast, just season two. A talk with the Cash Kid, coming up. So, you've got some cash. Maybe from the allowance, or that money your grandma gave you for your seventh birthday. Here ya go, sweetie! Woohoo! Thanks, Grandma! Whatever it is, what are you gonna do with it? Spend it, hide it away, or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a cash kid. Welcome back to the Cash Kid Podcast. I'm your host, and today, we're closing out season two with a bang. But don't worry, the podcast isn't over, just the season. We're reflecting on what we've learned. I'll share some personal insights as I continue my financial journey as a Cash Kid. Can you believe it? This is episode 40. We've covered so [00:01:00] much ground this season the last 25 episodes of season 2 our focus was building super financial skills. From understanding a checking and saving account and compound interest to avoiding scams and shopping tips. We've laid the groundwork to set you up for financial success. We live in the information age. All the information is there. It's just taking it and applying it. Which is where we got our motto for the Cash Kid Podcast. Stating how anyone can be a Cash Kid. You just have to learn how to become one. We're all capable of it. I see it already at the age of 12. Our most popular episode, episode 22, Working for Greater Financial Education, featuring Ms. Wanda McAbee from the Alabama Council on Economic Education. She's a true champion for financial literacy. It was inspiring to hear about the strides being made to bring this critical education into our schools. She continues to be a great advocate for what we are doing and help our [00:02:00] mission. So, what have I learned in these last 25 episodes? A lot, actually. Did you know how many adults feel uncomfortable talking about money? Some even graduate from college without a clue on how to manage their finances. I'm 12. That's a bit scary. But, I'm hearing from adults who appreciate our podcast shows and how important financial education is at any age. And let's be real, we don't have excuses anymore. The information is out there, and our mission is to make it accessible for kids and teens, parents, and even grandparents. Together, we're building a healthier mindset around money. And it's crucial, because according to Business Insider, the total household debt in the U. S. hit 17.987 trillion in early 2024. Imagine what this could look like if our generation doesn't get financially smart? What I've learned from my interviews this past [00:03:00] season is how my generation will be one of the ones to not really touch money or have less of an actual emotional attachment to it because we never get the sensation of feeling it. It's all in the cloud, basically. There's also the emerging world of Bitcoin and cryptocurrency. How will that affect my generation? There's just so much to explore. And I'm glad you're here to join me on this Cash Kid journey. I'm actually surprised how many of my friends are starting to invest now as well. I'm getting asked. Weekly about what companies I'm looking at and whether I plan to buy or sell a stock based on the market trends. Now that I think about it, it stresses my parents out some. But, me and my friends are on this journey together, and I love the discussions around stocks at my school. It's definitely a Cash Kid goal to have more kids discussing these topics. And, as we wrap up season two, I'm excited to announce our focus for season three. How kids can start earning money. We're [00:04:00] interviewing young entrepreneurs and exploring various job opportunities for kids and teens. You won't believe the amazing things kids are doing to make money. Whether you're interested in starting your own business, learning about stocks, or just finding a way to make some extra cash. Season 3 will be packed with tips and Information. It's mind blowing to me how many options kids like me really have. So please, if you aren't already, subscribe to our show on whatever platform you're listening from. Follow us on Instagram, Facebook, and YouTube at Cash Kid Podcast. And joining our mailing list can help you keep updated on what's next for the Cash Kid Podcast. You can find all of our handles episodes and our mailing list, also our merch, at our website, cashkidpodcast.com. Also, we would love your support for this show. Podcasts are passion projects, but they come with expenses. So [00:05:00] let's support our mission by grabbing some cash kid merch on our website or by donating through Buy me a Coffee. You don't actually get me an actual coffee. It's just a metaphor to like, donate directly for a cause. The coffee's for my mom, who actually gets up really early to edit these episodes. Thanks mom! Remember, I'm learning right alongside you, and we're growing as cash kids together. I'm here to find the experts and bring you the best advice. To help us...
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    6 mins
  • Back to School: Managing Costs and Making Smart Choices/Budgeting Tips for the Smart Student

    Back to School: Managing Costs and Making Smart Choices/Budgeting Tips for the Smart Student
    Aug 20 2024
    It’s time to go back to school already. (Sigh) My true feelings about school and the cost of heading back. Coming up! Intro: So, you got some cash, maybe from an allowance? Or, that money your grandma gave you for your seventh birthday. Here ya go, sweetie! Woo hoo! Thanks, Grandma! Whatever it is, what are you gonna do with it? Spend it? Hide it away? Or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a Cash Kid. Hey, Cash Kids! Welcome back to another episode of the Cash Kid Podcast, where we teach you all the tips and tricks to becoming a money-savvy kid or teen. I’m the Cash Kid and today we’re talking about something that’s on everyone’s mind this time of year—going back to school. But not just any back-to-school talk—we’re diving into how to be mindful of the costs and expenses that come with it. Where I live, we are already in week two of school and the idea for this episode actually came from a story one of my new teachers shared in class. We were having to glue some items into some pages in our binder and he was instructing us how to use the glue…we’re 7th graders so thought it was a little strange but then he shared this story how a boy saw this girl using too much glue on a project, and he asked, “Why do you use so much glue?” And she replied, “Because glue is cheap!” And he said, “It must be nice to live the 3-ply life.” (sound effect after joke) So, whether you can live a 3-ply life or not, you need to listen up to this episode. Whether you’re getting new supplies, new clothes, paying for lunch for yourself – or your friends, or just taking care of school property, there’s a lot to think about. So, let’s jump right in and see how we can be smart with our money as we head back to the classroom. **[Sound Effect: School Bell Rings]** **Segment 1: Back-to-School Shopping** Alright, first up, let’s talk about back-to-school shopping. It’s easy to get carried away with all the cool notebooks, backpacks, and gadgets. But before you start filling up your cart, take a moment to think about what you really need. We’ve addressed these a few times already on the Cash Kid Podcast in understanding the difference between needs and wants. Make a list of the essentials—things like pencils, notebooks, and folders. Then, check to see if you have any supplies left over from last year. Reusing what you already have is a great way to save money. We reused our backpacks, and water bottles from last year for instance. Also, consider setting a budget with your parents. This way, you won’t be tempted to buy things that aren’t necessary. Pro tip: Look for sales and discounts. Many stores offer back-to-school deals, so you can get what you need without breaking the bank. **[Sound Effect: Cash Register Cha-Ching]** **Segment 2: New Clothes and Shoes** Now, let’s talk about something that’s super exciting for a lot of us—new clothes and shoes! I made a deal with my parents if I made straight A’s last year could I have a pair of OnCloud Shoes. I already own 5 shares of their company’s stock too so I wanted a pair. So, maybe you can make a deal like that. Maybe you’ve earned some money over the summer and can asks to share the cost of a pair you really want. Also, it’s always fun to start the school year with a fresh outfit, but it’s also important to be mindful of how much we’re spending. Before you go shopping, take a look at what you already have. Do you really need a whole new wardrobe, or can you mix and match some of your current clothes to create new outfits? Sometimes, just a couple of new pieces can make a big difference. You don’t actually need an entire new wardrobe to go back to school. Well, some my age do as there are kids who grew a lot over the summer. But, that constitutes a need, not a want. When you do go shopping, try to focus on buying quality over quantity. A few well-made items can last you longer and save money in the long run. **[Sound Effect: Clothes Hanger Sliding]** **Segment 3: Lunch Money and Daily Expenses** Next, let’s talk about one of the biggest daily expenses—lunch! I’m not going to lie, when I moved to middle school, the freedom of more choices for lunch was appealing. I started buying a X drink every day at lunch before my Mom got pinged with the need to replenish my lunch money supply within a few weeks and questioned me on what I was buying. Let’s just say… we had to make some cut backs. I also know of lots of other kids who want to be kind and buy all their friends an ice cream or buy their friends a lunch with their lunch money. Good intentions… but probably need to discuss with your parents first. Whether you’re buying lunch at school or bringing it from home, it’s important to be mindful of how much you’re spending. If you buy ...
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    10 mins
  • Smart Savings for Big Purchases – Good Money Habits for Kids and Teens

    Smart Savings for Big Purchases – Good Money Habits for Kids and Teens
    Jul 29 2024
    We’re all guilty of it! What am I talking about? Stay tuned! Intro: So, you got some cash, maybe from an allowance? Or, that money your grandma gave you for your seventh birthday. Here ya go, sweetie! Woo hoo! Thanks, Grandma! Whatever it is, what are you gonna do with it? Spend it? Hide it away? Or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a Cash Kid. Welcome back to the Cash Kid Podcast! I'm your host, the Cash Kid, and today we're diving into a topic that's super important for kids and teens - saving for big purchases. Let’s be honest. We’ve all been guilty of asking our parents for something we want. My six-year-old brother has figured out how to search up toys on Amazon to show my parents to try and convince them to buy him things. My parents then showed him how to add things to a wish list, and that he has to wait until a birthday or has the money to buy it. But, if we don’t want to wait until a birthday or Christmas for the chance we get what we want, how do we learn to save for things we kids and teens want to buy? Whether you're aiming to buy a new gadget, that first car, a new lego set, Lululemon outfit, purse, or even start your own small business, learning how to manage your money wisely is key. So let's get started! First, let's talk about budgeting. Budgeting may sound boring, but it's the foundation of good money habits. A budget helps you keep track of your income and expenses so you can make sure you're saving enough to reach your goal. **[Sound Effect: Cash Register Ding]** Now, let’s say you get $20 a week from your allowance or a part-time job. If you spend all of it on snacks and video games, there won't be anything left for that big purchase you want. Instead, try the 50/30/20 rule. Save 50% of your income, use 30% for needs like school supplies, and spend 20% on fun stuff. Next, let's talk about earning money. Saving is great, but if you want to reach your goal faster, finding ways to earn extra cash is a smart move. Here are some ideas: First, for teens, why not think about getting a part-time job. Many teens work part-time jobs after school or on weekends. It could be at a local store, a fast-food restaurant, or even babysitting. I saw several teens working at a local farmer’s market the other day. I thought that’s a great job for the summer for teens to make money and save for big purchases. Second, what about tutoring? If you're good at a particular subject, consider tutoring younger students. It's a great way to earn money and help others at the same time. There are always parents on Facebook groups looking for tutors to help their kids with a subject they are struggling in, so lots of clients… and money. And then of course for younger kids there’s the good ole lemonade stand and doing household chores. Be mature and ask to talk with your parents to set-up a chore list for you and how you can earn some money around the house or do things for neighbors. You’d be surprised how many are willing to pay kids to do small jobs here and there. We’re actually working on season 3 of the Cash Kid Podcast already where we’re going to be interviewing lots of tweens and teens about ways they are using their skills to make money. We can’t wait to start releasing those episodes later this year! **[Sound Effect: Coins Clinking]** **Host:** Now, let's move on to selling old items. Most of us have toys, clothes, or gadgets that we no longer use. Why not turn those items into cash? We have lots of large lego sets in our house that we’ve put together. My Mom gave us the idea recently to take those apart and resell them used to others. We looked it up, and it’s actually a thing. Also maybe organize a garage sale, or sell old items online through platforms like eBay, Depop, or Facebook Marketplace. Not only will you declutter your space, but you'll also add to your savings goal for that big purchase. Another important habit is setting clear savings goals. It's easier to save when you know exactly what you're saving for. Break down your goal into smaller, manageable milestones. For example, if you want to save $200 for a new bike, aim to save $50 each month for four months. This makes the goal less overwhelming and gives you a sense of achievement as you reach each milestone. I use an app called Greenlight to help with my savings goals. I can always see how much I have in my savings account. When I get paid for a job or chores, I use the 50/30/20 rule we talked about earlier and know before the money even enters my account where it’s going. Seeing your progress can be incredibly motivating and helps you stay on track. **[Sound Effect: Checkmark]** **Host:** Let's not forget about the importance of needs versus wants. We actually produced an episode on needs versus wants. It’s titled “Needs, Loves, Likes, Wants.” Be ...
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    8 mins
  • Explaining Inflation: Less Candy Bars for You My Friend!

    Explaining Inflation: Less Candy Bars for You My Friend!
    Jul 15 2024

    Understanding Inflation: Why Your Money Buys Less Over Time

    In this Cash Kid Podcast episode, the concept of inflation is explained in a simple way tailored for kids and teens. The episode covers how inflation affects purchasing power, increases the cost of goods, and impacts daily life and financial goals. Real-world historical examples, such as hyperinflation in 1920s Germany and the Great Inflation in 1970s USA, illustrate the effects of rising prices. Practical tips are provided to help young listeners manage their money, save, and invest wisely to mitigate the impact of inflation on their lives.

    00:00 Introduction to Inflation

    00:39 Why Inflation Matters

    01:39 Historical Examples of Inflation

    02:33 Causes of Inflation

    03:09 Impact of Inflation on Families and Businesses

    04:01 Inflation and Personal Finance for Teens

    04:32 Tips to Handle Inflation

    05:40 Conclusion and Final Thoughts
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    7 mins