Raising Financially Fit Kids
LISTEN | 02.24.22 | Joline Godfrey on Emotional Balance Sheet with Paul Fenner
How do you raise financially fit kids?
Joline Godfrey has spent a lifetime helping families to do just this. Trained as a social worker, Joline has spent most of her career being involved with kids; much of it focused on resilience. Joline has focused on this issue in a way that few people have been able.
Joline believes that financial fluency is a family activity, not just something to help kids with. When the values, practices, and conversations are woven into the family culture, this work can be easy and fun, preparing our kids for the future.
To build and understand financial fluency, you should think about it in terms of it being developmental. Building blocks that include financial, intellectual, social, and human capital (FISH). Think in terms of drip, drip, drip that this is a process that develops over time. However, the earlier we start to learn, the more we absorb the habits as a normal part of growing up.
Even for kids growing up with significant abundance, there is all too little awareness of ‘what things cost’ and their obligations when it comes to spending, saving, borrowing, and investing. Joline points out that we should expand the notion of what it means to be wealthy. With raising financially fit kids, we as parents have the capacity to build strength in our kids into adulthood.
Please enjoy my conversation with Joline Godfrey.
