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CASH KID

Written by: The Cash Kid
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  • Summary

  • Welcome to the Cash Kid Podcast! I’m here to teach kids and adults the financial literacy skills they need to start saving money early. Join us as we interview experts and explore topics to take that piggy bank to a real bank and start investing today to watch your money grow. “Cash Kids” are kids who at a young age have an entrepreneurial mindset and good financial skills to use their passions, hobbies, and skills to earn money. Just remember, anyone can be a “Cash Kid,” you just have to learn how to become one. So let’s be the generation to grow the greatest wealth and be the most financially literate. From financial skills to getting your first job, to investing in the stock market, we’ll cover it here on the Cash Kid Podcast.
    Copyright © 2024 Cash Kid. All rights reserved.
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Episodes
  • Who is Protecting Our Investments?

    Who is Protecting Our Investments?
    Jun 4 2024
    If we're going to be money-savvy kids, we must know how to watch out for scams and frauds that will cause us to lose our hard-earned money. In this episode of the Cash Kid Podcast, we explore the importance of investment protection and scam prevention with Amanda Senn, the director of the Alabama Securities Commission. Learn about the role of the Securities Commission, real-world examples of its impact on preventing fraud, and how technology affects financial safety. Discover actionable tips on how to safeguard personal information, the significance of financial literacy, and the new financial education requirements for high school students. This informative episode aims to educate kids and adults alike on the essentials of financial protection and literacy. Episode: 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. Millions of dollars lost to fraudsters. Scams across the states. The elderly and kids are big targets. Who is working to protect our investments? And how can kids my age help stop these scams? Plus, taking a financial course is now a graduation requirement in my state. Yep. We’ve got it all covered in this episode of the Cash Kid Podcast where we went on the road to talk with The Alabama Director of the Securities Commmission, Amanda Senn. I personally, had no idea what this department in our state was doing for us everyday. How there are people behind the scenes working to make sure only legitimate business is being conducted and stop fraudsters so we can protect our hard earned money. If you aren’t already, be sure to follow us on social media @cashkidpodcast. Visit our website at cashkidpodcast.com and join our mailing list. Please, please, leave a review from whatever platform you are listening from and help us spread and grow the Cash Kid mission. Alright, we traveled to Montgomery, Alabama to conduct this interview with Ms. Senn. So let’s jump right into it! Cash Kid: Welcome to the show Ms. Senn. And first off, tell us a little bit about yourself. Amanda Senn: Thank you, Cash Kid. I'm glad to be here. My name is Amanda Senn, and I've been with the Alabama Securities Commission for almost 16 years. Interesting fact, I started as an intern and worked my way up, became general counsel, deputy director enforcement and then last year, succeeded at the long time director,Joe Borg, as the director of this agency. Cash Kid: Yep, that's really interesting. So, what is a securities commission and why do we need it? Amanda Senn: So, a security is more than just a stock, a bond, a debenture. There are a laundry list of things that are covered, but it's essentially anything with a view toward an investment. So, you don't actually have to have a writing. But, our agency enforces laws that, um, directly impact. People who sell securities and Those products that are considered securities. We also serve as a resource to our financial industry in the state. Oftentimes some of the smaller businesses don't always have the tremendous amount of resources that the larger firms have. So we're in a unique position to be able to collect information from across the United States and provide it to our industry folks to let them know what's going on and hopefully keep them apprised of all the trends that are coming out in the financial industry. So can you explain how you advocate for investor protections? Why do, why do we need this protection? Just to be clear, there are two securities regulatory bodies, the Federal Securities Exchange Commission and then the State Securities Commissions. The State Securities Commission, our office here, does have some dual oversight with the federal government, but we are exclusively responsible for certain investment advisor And we retain, um, fraud authority so we can prosecute any cases where we have some crook that comes into our state. Because I'm certain none of our Alabama residents are crooks. They come into our state and, um, and represent, um, That, you know, we have this typically what we'll see. So we have this great investment opportunity and, um, it's going to grow jobs in the state and we need investor capital and I'll put it with my, um, you know, business model and my plan and we'll help grow this industry. What happens in a criminal case is they take the money and they don't do what they told the investor they would do with it. They instead funnel it into personal expenses. Sometimes these crooks buy houses, cars, diamond rings for their girlfriends. It's not always a guy though. Sometimes we have female crooks, but they will just take money and, and steal it. So. Um, so investor ...
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    19 mins
  • Overcoming Roadblocks to Teaching Kids Financial Lessons

    Overcoming Roadblocks to Teaching Kids Financial Lessons
    May 20 2024
    Overcoming Roadblocks to Teaching Kids Financial Lessons 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. What's up Cash Kids and here's a fun fact for y'all. Did you know that 57% of parents have some reluctance to discuss money matters with their kids? And 50% of America's youth will learn less than their parents? That doesn't sound right. So, joining us today is the financial "dadvisor", Anthony Delauney. Mr. Delauney is a certified family financial planner, and a behavioral financial advisor, and the author of the award-winning "Owning the Dash" children's book series. He's joining us today to talk about some of these roadblocks to teaching kids financial lessons today and how a more cashless society can be a challenging way to make money tangible for kids. Plus, we'll discuss his book series and stay tuned to the end for a free giveaway. Welcome to the show, Mr. Delauney, and first off, tell us a little bit about yourself. Anthony Delauney: Thank you so much for having me. Um, so I have been a financial planner for the past 21 years. I started it right out of college, and I discovered pretty early on that I loved helping families. Since I started, I got married, had children, bought my first home, bought another home, went through all those fun stages, and realized that, um, it's hard enough to figure out stuff on your own, but when you've got to figure it out as a family, it gets really crazy. And when it comes to talking to your kids about it, it gets even crazier. Cash Kid: Mr. Delauney, we started to talk about how 57% of parents are reluctant to discuss money matters with their kids. Why do you think this is the case? Anthony Delauney: The simplest answer I can give you is, I have spoken in front of adults, uh, for some time, for 20 plus years, and I am more nervous about this interview speaking to a child than I am speaking to adults. And I think that part of the reason that it's so hard for a lot of kids to learn about these things is because parents don't know what to say or afraid of what to say. And sometimes we're intimidated around even having the conversation. They don't want to mess up for their kids. Cash Kid: That's a great point. Why is it crucial that financial planning be a family affair? Anthony Delauney: It's important because the sooner we start talking about these lessons and kind of getting the real basics of how life works, investing and all that stuff is really important, but really understanding how a budget works, understanding how money works, understanding how to live life on your own, the sooner we can start instilling those lessons and teaching them, just like brushing your teeth. As soon as you start to learn that, it becomes a habit, it becomes a ritual, and you become, it's part of your life. If we don't teach those lessons early enough, it becomes much harder to learn them later in life. And, once kids are on their own, it's, it's, we don't have as much involvement in the lessons that they learn. Cash Kid:: Totally agree with that. And so, what tips do you give parents to start the conversation with their children around money? Anthony Delauney: Sure. So, I think the most important part is, just like this conversation today, You are, you're the cash kid, but you have an intrigue. You have a desire to learn. And most children do have that desire. Even as very young children, kids want to play grownup and want to do the different activities that they mimic their parents, the good and the bad parts of what their parents do. So, um, if we can, when it comes to talking to our children, treat them like many adults, treat, treat them, like respect them. Okay. not judge them. I think that's the biggest part is when it comes to having these discussions, we want to be there for them. Let them know that they can they're in a safe environment where they can talk about things where they can ask questions where they can fail. But if they do fail, parents have to be really mindful of how they react because the kids are not only focusing on the lesson being learned, but how are my friends, my family and others treating me? Based on my response and my questions and my, you know, my mistakes. Cash Kid: I totally agree with that statement. So do you have any financial lessons to teach elementary or teenage children? Anthony Delauney: So I've had for, as I mentioned, being an advisor for 20 years, for families, I get the question a lot. How and when do I start talking to my kids about these various topics? And one thing I've noticed as a parent and as a, an advisor is that sometimes when we ...
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    16 mins
  • The Cost of a Puppy-Financial Freedom-Financial Mindset

    The Cost of a Puppy-Financial Freedom-Financial Mindset
    May 6 2024
    A one-time expense vs an ongoing cost. Do you know the difference? In this financial podcast episode with the Cash Kid, he'll explain why understanding this concept can help us achieve financial freedom and independence earlier in life. This is a way to help the next generation by building wealth instead of debt. Plus, a new segment on the show called "Stock Talk!" Listen in as the Cash Kid helps shape our financial mindset to think before we buy. Want to learn more about the Cash Kid? Visit our website and join our mailing list at: www.cashkidpodcast.com Also, check out our Cash Kid Merch store! Transcript 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 season two of the Cash Kid Podcast. Last episode we celebrated our one year anniversary mark and now we are charging forward with more topics and skills to learn and teach. If you aren’t already, please be sure to follow us today on Instagram and Facebook @cashkidpodcast. Also, head to our website and be added to our mailing list. This is a great way to be a part of the Cash Kid movement to empowering the next generation to build super financial skills at a younger age. This week, our episode is “The Cost of a Puppy.” We’re not going to just talk about puppies… even though, that would be cute and fun. Our focus is discussing the difference between a one time purchase and an on-going purchase. Do you know the difference? Many times as kids, because we don’t pay the bills, we might not understand this concept and have to be enlightened by an adult of the difference. But, knowing what’s a one time purchase vs. an on-going purchase is a concept we need to understand, especially before we find ourselves in debt and having to sell back the thing we purchased. Yep, it happens. So, let’s talk about it. What’s considered a one time purchase? A car or a video game? A bike or a cellphone? A puppy or a remote control car? Let’s start with a bike vs. a cellphone. Before I knew better, I used to think you just purchased a phone and that was it. But then my parents talked to be about how a cellphone is not a one time purchase. In fact, just this past week, my nine-year old brother saw this ad where you could purchase an iPhone 14 for just $5.99. He was like, “See Mom, I can afford that?” My Mom then explained to him to look at the fine print. Yeah, it’s that much smaller writing under the large discount price in bold that states it’s $5.99 a month for the next 36 months under a contract with that cellphone carrier . Then Mom explained how you’ll also need a cell plan to go with that which can cost upwards of $30 dollars or more per month. See a cellphone, while to a kid it just seems like an object you buy once and that’s it, is actually an on-going monthly expense… usually for your parents at this age. My brother’s not getting a phone… Now a bike on th other hand, it’s a one-time purchase. Except for the time I wrecked mine and we had to spend a little extra to get it fixed. But asking your parents for a bike is different. There may be some repair costs at times. Like a new tire or brake, but it doesn’t have an ongoing expense like a cellphone. We’re going to talk about that puppy and the debate in our house over having one, coming up. More purchase comparisons on the way. (Music interlude) It’s time for a new segment on the show called “Stock Talk.” If you follow us on social media, you’ll see I like to talk about stocks. Following different companies stock prices, what’s going on in the news about their company, and seeing the prices rise and fall excites me. I’ve found more and more of my peers asking me about the stocks I’m interested in. Why I’m invested in them? And how do I invest? Now, I’m not an advisor, but I’m trying to teach my friends and our audience how you can research companies and stock yourself. So, each episode I’ll hit on a stock either I’m watching or researching and why. This week, since we just finished talking about a cellphone, let’s look at Apple. Apple became a publicly traded company on December 12th, 1980. Their stock price started at $22.00 per share. Apple’s stock has split five times since it went public. This increases the number of shares in a company and makes the price per share at a more affordable cost for investors. To purchase a share today would cost you $173. If you had purchased a share of Apple just three years ago at the price of $131 dollars, you’d be up $52 dollars at this point. And ...
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    9 mins
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