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The Family Bank Expanded with Candice Crawford | Episode 112
Manage episode 396349166 series 3387859
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In this latest episode of the Quiet Wealth podcast, hosted by Camilla Jeffs, we dive deep into the concept of a family bank as a powerful tool to teach financial literacy and responsibility, particularly to children. Join us as we explore the benefits of setting up a family bank, such as effectively managing personal finances, avoiding external debt, and building generational wealth.
Our special guest, Candice Crawford, takes us on her inspiring entrepreneurial journey from a humble farm upbringing to the thriving success of her landscaping business.
As we discuss the importance of starting financial education early, we also delve into the practicalities of running a family bank. Discover the strategies and techniques that can empower parents to introduce their children to the world of finances and cultivate responsible money management habits from an early age.
Tune in to the Quiet Wealth podcast with Camilla Jeffs and guest Candice Crawford as they unravel the transformative power of the family bank.
In this episode, we talk about:
• Introduction to the concept of the family bank for kids to invest and earn interest
• Importance of teaching kids about money and financial education
• Candice Crawford's journey from farm life to entrepreneurship
• Wealth-building strategies and real estate investment
• Creating a family bank with a small initial investment
• Managing finances and teaching children about debt
• Structured repayment plan and adding monthly contributions to the family bank
• Involving children in the family bank and teaching financial responsibility
• Setting guidelines and requirements for family members to participate
• Leaving a financial legacy through the family bank and building generational wealth
Resources:
What Would the Rockefellers Do?: How the Wealthy Get and Stay That Way ... And How You Can Too - https://www.amazon.com/What-Would-Rockefellers-Do-Wealthy/dp/069263536X
Family Bank Spreadsheet - http://camillajeffs.com/raising-money-smart-kids/
Connect with Our Guest
RoofBound - https://roofbound.com/
LinkedIn - https://www.linkedin.com/in/candice-crawford1/
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Prime Time Wealth Academy - https://camillajeffs.thinkific.com/courses/prime-time-wealth-academy
Prime Time Wealth Academy YouTube Channel - https://www.youtube.com/channel/UCJYjXBtQnNKeXSrhMIaRgGQ
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Shout out to my podcast manager, Abby! If you're ready to take your podcast to the next level, contact her today productions@abbyguaki.com and start the conversation.
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