Smart Money Questions

Weekly investing and financial planning wisdom seeking to provide answers to your financial questions with your host, Matt Hausman.

Teaching Children Lessons About Money with John Lanza

Are you worried that your child is accumulating too many things? Do you wonder if you’re spoiling your child? John Lanza, author of The Art of Allowance, joins the show to give us an overview of his Money Mammals empowerment kit that teaches children how to share, save and spend. This is a great place to start if you want to lay a foundation for money management for your child.


Show Notes:


Today's Rundown: 

0:29 – Introducing today’s guest, John Lanza.

1:10 – Give us the background on how you got this all started.

3:31 – How young can children be to start learning these smart money basics.  

5:12 – Has the teaching process changed at all as we move further and further away from physical money?

6:57 – It’s important to children to see the transaction happen with the money in your hand so they can see that money has to go in.  

7:38 – At what age should an allowance start and does it still need to be tied to something like chores?

11:53 – At what point do you want the budgeting lesson to begin?

15:27 – How does the conversation go in regards to the sharing side of money?

17:50 – Do you talk about how giving actually makes you a happier person?

20:18 – Sharing and giving is an important lesson to learn early on.   

22:10 – What’s your relationship with credit unions?

25:21 – How to find this program Money Mammals.

26:17 – John also has a podcast.

Want to Know How We’re Investing Our Money?

Have you ever stopped to think about what your financial advisor invests in? You get a lot of advice and guidance but do they actually follow their own suggestions? We’re going to pull back the curtain and tell you how we manage our entire portfolio for the three businesses.


Show Notes:


Today's Rundown: 

0:34 – What we’re doing on today’s show.

1:10 – In the news: Local Pennsylvania couple facing a felony charge after spending more than $100,000 that was accidentally deposited into their bank account.

1:59 – This came up in my office recently from a client: I read an article that suggested I ask my advisor what they invest in.

2:47 – So today, I want to go through this question and discuss everything we are involved with in our office.

5:56 – Where is our emergency fund.

6:44 – Our tax money is also sitting in another bank account.

7:17 – We also have money invested in our three companies.  

8:54 – Let’s talk about investable assets. First our Health Savings Account.

10:55 – Maggie and I also put money away into an after-tax brokerage account that is invested in the same funds that I advise clients to invest in.

13:01 – We have established a company 401k plan, both traditional and Roth.     

15:27 – After investable assets, here’s what else we have. Our legal documents are in place and recently updated.

18:18 – On a quarterly basis, we review the financials of each firm.

18:56 – Looking at tax-planning opportunities as well.

19:58 – This is a look at what we’re doing and how we’re doing it.

21:23 – You might not be a business owner but hopefully you can get a better idea of what you should be considering.


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