ABCs of Teaching Little Kids About Money with Sammy Rabbit | Ep. 230

• For ages 1-3, use transparent jars and a deposit dance. For ages 3-4, start reading storybooks with energy and animation.

Shake that bank... drop some pennies or nickels or dimes into a transparent jar... and then do a little deposit dance.

• Children absorb money attitudes from overheard conversations. Parents should consciously teach positive money lessons rather than unintentionally passing on scarcity mindsets.

Kids are little learning machines. So they're hearing and they're watching these things... they're coding them largely into their feelings and their attitudes, and then they become habits, behaviors.

• Saving money teaches delayed gratification and becomes a springboard for other financial lessons. It's the foundation for building discipline and long-term success.

If you want to teach your kids to delay gratification, to have more discipline, get them in the habit of saving and start with the Sammy Rabbit deposit dance.

• Create weekly family deposit traditions. Use personal and family savings jars. Introduce the language 'We're savers. We pay ourselves first.'

When we earn some money, the first thing we do is we start to categorize, separate, prioritize, organize our money. And the first thing we do is we pay ourself first because saving is a great habit.

• After hearing clients express regret about not learning money skills earlier in life, Sam decided to focus on teaching young children (birth to age 8) when foundational programming happens.

I thought, you know what, you got to target young kids. That's like where you're programming and putting the software in.