Rich Dad Poor Dad for Kids: A Fun and Simple Podcast Curriculum

speaker1

Welcome, everyone, to a super fun and exciting journey into the world of 'Rich Dad Poor Dad for Kids'! I'm your host, and today we're joined by my co-host, who is just as excited as I am to dive into these essential financial lessons. We're going to make this journey not only educational but also incredibly fun, using relatable stories and actionable challenges. So, are you ready to turn your kids into little money geniuses? Let's get started!

speaker2

I'm so excited to be here! I can't wait to explore these lessons with you. So, let's start with the basics. What's the first thing we need to know about money and the two different mindsets?

speaker1

Absolutely! The first lesson comes from the two different dads in the story. We have the 'poor dad' who always says, 'I can't afford it,' and the 'rich dad' who asks, 'How can I afford it?' This simple shift in mindset is crucial. The rich dad teaches us that asking the right questions can spark creativity and lead to solutions. For example, if a child wants a new toy, instead of just saying 'I can't afford it,' they can think of fun ways to earn the money, like setting up a lemonade stand or doing chores around the house.

speaker2

That's a great point! It really does change the way you approach problems. So, why is it important for kids to learn about money in the first place?

speaker1

Money is a tool, not the goal. It's essential to understand how to manage it wisely. Think of it like a pile of acorns. If you just hoard them, they won't do much. But if you plant them, they can grow into mighty trees. In one of our stories, Bluey and Bingo get a pile of acorns but don’t know what to do with them until Bandit explains that acorns can grow into something much bigger if used wisely. This teaches kids that money can be used to achieve their dreams and goals, not just for immediate gratification.

speaker2

Hmm, that's a fantastic analogy! So, what about the idea that the rich don’t work for money? How does that work for kids?

speaker1

Great question! The lesson here is that it's important to work to learn, not just to earn. In one of our stories, Sunny Starscout helps her friends with a lemonade stand and learns that understanding the business side is more valuable than just making a few coins. By learning how to run a business, she gains skills that will help her in the long run. For example, she learns about marketing, customer service, and financial planning. These are skills that will serve her well, whether she decides to start her own business or pursue a career.

speaker2

Wow, that's a lot to take in! So, what's the difference between assets and liabilities, and how can kids understand that?

speaker1

Assets are things that put money in your pocket, while liabilities take money out. In our story, Bluey and Bingo learn that their toys (liabilities) don’t grow their money, but investing in a 'growing jar' (assets) can. For example, if they put their savings into a piggy bank and earn interest, that’s an asset. If they buy a toy that breaks easily and costs money to replace, that’s a liability. Teaching kids to recognize the difference helps them make smarter financial decisions in the future.

speaker2

That's really helpful! So, how do we explain taxes to kids in a way that makes sense?

speaker1

We use the concept of sharing to explain taxes. In one of our stories, Sunny Starscout learns from Hitch about sharing (taxes) and how to make sure there’s still enough left for herself. Just like sharing cookies with friends, paying taxes is about contributing to the community to ensure everyone has what they need. For example, the money from taxes helps build schools, roads, and parks. By understanding this, kids learn the importance of giving back and managing their money smartly.

speaker2

That's a great way to put it! Now, what about the power of saving? How do we teach kids to save first before spending?

speaker1

Saving first is a powerful habit. In one of our stories, Bluey and Bingo save their 'grapes' before snack time and see how they have more fun later by having extra grapes to share with friends. This teaches kids the importance of delayed gratification and the benefits of saving. By setting aside a portion of their allowance or money they earn, they can build a savings habit that will serve them well throughout their lives. For example, saving for a big purchase like a new bike or a special toy can be much more rewarding when they’ve saved up for it.

speaker2

That's so true! So, what is investing, and how can we explain it to kids?

speaker1

Investing is about making your money work for you. In one of our stories, Sunny Starscout plants 'magic beans' that grow more beans, teaching her the basics of investing. For kids, this can be as simple as putting their savings into a high-interest savings account or buying a share in a kid-friendly business. The key is to show them that their money can grow over time, just like planting a seed that grows into a tree. For example, if they invest in a lemonade stand, they can earn more money by selling lemonade, which is a form of investing.

speaker2

That's a fun way to think about it! What are some different ways to invest that kids can understand?

speaker1

There are several ways to invest, and we can make them relatable for kids. For example, they can invest in businesses, real estate, or ideas. In one of our stories, Bluey starts a 'puppy playground' and rents it out to friends, teaching her how to grow her coins. They can also invest in a savings account, buy stocks in kid-friendly companies, or even invest in a community garden. The key is to show them that there are multiple ways to grow their money, and each has its own benefits and risks.

speaker2

That's so interesting! How do we teach kids about taking smart risks?

speaker1

Taking smart risks can lead to big rewards. In one of our stories, Sunny Starscout climbs a big hill to reach the prettiest flowers. She learns it’s okay to feel nervous about trying new things but that planning helps. For kids, this can mean trying a new hobby, starting a small business, or even asking for a raise in their allowance. Teaching them to assess risks and make informed decisions helps build confidence and resilience. For example, if they want to start a lemonade stand, they can plan where to set it up, how to market it, and how to manage their finances.

speaker2

That's really insightful! Finally, how do we teach kids about giving back and using money to help others?

speaker1

Using money to help others is a valuable lesson. In one of our stories, Bluey and Bingo share their 'saved grapes' with friends who didn’t have any, realizing how good it feels to help. For kids, this can mean donating to a local charity, giving toys to those in need, or even helping a friend in need. Teaching them the joy of giving helps build empathy and a sense of community. For example, they can organize a toy drive or a bake sale to raise money for a good cause. This not only helps others but also teaches them the value of generosity and teamwork.

speaker2

That's a beautiful way to end our discussion! Thank you so much for sharing these valuable lessons with us. I'm sure our listeners are as excited as we are to start this journey with their kids. Let's wrap it up with a quick recap and a final thought.

speaker1

Absolutely! We've covered a lot today, from the importance of a rich mindset to the power of saving and investing. We've also talked about taking smart risks and giving back to the community. These lessons are essential for building a strong financial foundation and fostering a sense of responsibility and empathy in our kids. Remember, the journey of learning about money is just as important as the destination. Thanks for joining us, and we can't wait to explore more of these fun and valuable lessons with you in future episodes!