Scott and Chad sit down and discuss how letting your kids scrape their knees is key to their long-term success and overall resiliency in life. Find out why small struggles and overcoming difficult challenges is important to building confidence and how parents that coddle their children prevent them from growing into all they are meant to be. Kids need to run into small obstacles and challenges like scraping their knees. Scott tells the story of making mistakes as a new and exhausted father. Babies and children have no concept of their mortality and often attempt things that result in them getting hurt. The trick is in providing an environment where they can make mistakes, get some bumps and bruises, but while not risking anything really dangerous. The more you coddle your children, the harder it is going to be for them to learn on their own. Children will look to their parents in some situations to figure out how to respond to a situation. We have to be careful with our reactions. No parent wants their kid to get hurt, but if the kid can learn and succeed through the struggle, there is incredible capability and confidence on the other side. We tend to jump in as parents and fix our kid’s problems, but that doesn’t help them grow at the end of the day. The greater joy is seeing your children overcome and get back up. There is no losing as a kid, there is winning or learning. The resiliency that a kid builds by trying over and over again, and breaking through barriers, is the resiliency that creates success long-term. A great question at the dinner table is, "What have you learned today by trying something new?" Reward your kids for trying new things instead of just succeeding at something they’ve already done before. It’s better to make small mistakes when you’re young than big mistakes when you’re much older. Let your children go through the struggle and celebrate them when they get to the other side. Little mindset shifts as a parent make a big difference. Let’s let our kids fail, make mistakes, learn, get up, get better, and keep going. Praise the effort and their persistence.     Mentioned in This Episode: gravystack.com.smart smartmoneyparenting.com Grit by Angela Duckworth Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

How do you set and communicate expectations to your kids? In today's episode, hosts Scott Donnell and Chad Willardson discuss the importance of clarity and setting expectations for kids. They also reveal how ambiguity around expectations creates anxiety and chaos for your kids. Ambiguity creates anxiety, but clarity creates confidence in kids. For Scott, you need rules and systems to run a functioning home. However, when you're rigid and structured with your rules, you risk killing your child's creativity. Chad explains why the first time you set up expectations for your kid, you must do it with them and show them what "done" looks like. Scott talks about the do’s and don'ts of raising value-creation kids. Scott and Chad agree that delegating tasks to your kids may take extra effort upfront but will pay off in the long run. Chad compares an ambiguous home to a city with no stop lights and no speed limits - it's dangerous and chaotic. According to Chad, you'll have a much calmer and happier home when you communicate clearly with your kids. Be very clear with how you want things done in the home. 85% of the results come from the first 15% of the process. That is true in business and family. For Scott, smart money parents see their kids as an incredible asset in the home. They're not just a blessing; they are a benefit and can really help you with your life. Chad describes why you must set up your home where everybody is part of the team and working towards the same goal.     Mentioned in This Episode: gravystack.com.smart smartmoneyparenting.com Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

Want to know how to raise your kids to become value creators? In today's episode, host Scott Donnell sits down with Lee Benson and Kary Oberbrunner to break down Lee and Scott's new book Value Creation Kid: The Healthy Struggles Your Kid Needs to Succeed. Financial competency is the biggest gap in education because it's not taught in schools or at home. For Lee, smart money parenting is about creating an environment where kids can learn to create value in the world. Scott and Lee believe parents who protect their kids from pain and discomfort risk raising spoiled kids. Parents who remove healthy struggles from their child's life may unknowingly jeopardize their future. Lee explains how parents can turn healthy struggle into capability, confidence, and value creation. According to Scott, kids as early as kindergarten can start learning the art of value creation. How to shut down the Bank of Mom and Dad for good. Scott explains why he feels capitalism should be renamed value create-ism - because a capitalistic economy only grows when people add value to the world. Your kids need to learn financial skills for saving, spending, sharing, earning, and investing before age 18. Lee and Scott agree that it's never too late to start teaching your kids financial literacy. According to Scott, parents need to be comfortable with healthy struggles - Let your kids fail, but they should never forget that you love them. Discipline is actually a lack of training. Scott explains how, most of the time, behavior and discipline issues stem from a lack of training. Scott reveals that the best way to teach a kid about money is through fun and real-world experiences using real money. Scott talks about financial literacy and how banks make money from people who are not financially competent. Lee and Scott review the features that make GravyStack a unique banking platform for kids. Scott highlights the three main parts of their new book. Part 1: The Challenge. How to start the value creation journey with your kids. Part 2: The four categories in the GravyStack method. Part 3: The Reward. The benefits of cultivating a value creation mindset in your home.     Mentioned in This Episode: gravystack.com.smart smartmoneyparenting.com Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

Do your kids know how much money you make? In today's episode, hosts Chad Willardson and Scott Donnell sit down with Shannon Waller from Strategic Coach to discuss the do's and don'ts of talking to your kids about the amount of money you make. Scott and Chad reveal how they talk to their kids about money and the benefits of creating value in the world. What are unique abilities? According to Shannon, these are things you are good at and love to do - so you always want to improve because you care. Shannon describes what it's like raising kids who know how to create value and leave a mark in the world. For Scott, the number one reason for making a lot of money is to buy back your freedom. What's the difference between envy and jealousy? Jealousy is when you want what someone else has. Envy, on the other hand, is when you don't want them to have it. It's totally okay to make a lot of money and tell your kids about it. But Shannon believes you must be careful about the number; otherwise, you risk raising spoiled and entitled kids. According to Scott, you need to help your kids understand there's no shame in making a lot of money. Chad talks about the type of money and investment conversations he has with his kids. Chad reveals why it doesn't make sense to hide everything from your kids because everything they need to know is just one Google search away. You need to help your kids understand that creating value in the world often comes with a financial reward. Scott is convinced that rules without relationship equals rebellion, but rules with relationship equals results. Scott and Chad go through the pros and cons of telling your kids how much you make.     Mentioned in This Episode: gravystack.com.smart smartmoneyparenting.com The Kolbe System - kolbe.com Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

Is homeschooling better for your child's development? In today's episode, hosts Chad Willardson and Scott Donnell sit down with Kary Oberbrunner to discuss the pros and cons of customized learning and its impacts on your child's future success. Scott and Chad start the discussion by breaking down the benefits of personalizing your child's education based on their strengths, needs, skills, and interests. According to Kary, there is no one-size-fits-all approach to learning. Your job as a parent is to find a curriculum that maximizes your child's potential. Scott and Chad settle the private versus public versus homeschooling debate. Kary reveals what parents should do when their child wants to switch schools. When looking for a school for your kid, Scott believes you should look for institutions where your child will thrive. Kary talks about the drawbacks of constantly moving your kid from one school to another. Kary explains why he feels not all kids should go to college - especially if they're interested in the trades or more technical career paths. According to Chad, obtaining current knowledge from the internet will be much more valuable than sitting in a classroom and memorizing facts from an old textbook.     Mentioned in This Episode: gravystack.com.smart smartmoneyparenting.com Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

Scott and Chad sit down and discuss why complimenting your children is a great way to build their self-esteem and confidence, and give you a list of 17 compliments that you can use as a parent to completely make their day. Chad’s brother-in-law is a pediatrician and he saw that kids suffered greatly during the past two years of the pandemic. Children were lonely and scared, and were self-harming at alarming rates all over the world. Our kids need to be lifted up and strengthened, more so now than ever. Consider saying one of the following compliments every single day for the next three months. #1 You make me proud. Every child wants to know their parents are proud of them. Take 30 seconds and find something you are proud of and let them know. #2 I’ve noticed how hard you’ve been trying. This reinforces the effort and shows you appreciate the act, not just the end result. #3 You inspire me. This uplifts kids in a way that’s hard to describe and builds instant connection. #4 I can trust you because you’re honest. Children want their parents to trust them and will consider that when they have a decision to make. Valuing trust and integrity can be done with a simple compliment. #5 You are a great role model. Kids want to be a role model for others in things they care about. They want to know they are leading the people behind them. #6 You make me want to be the best person I can be. This tells you kids that they matter. That they are the reason you want to be better. #7 You amaze me. Kids want to impress the people they care about. Show them that you notice how awesome they are. #8 Your effort hasn’t gone unnoticed and I appreciate it. Reward progress, not perfection. If you reward effort and progress you help them create momentum. #9 Thank you for teaching me something new. There are always new things you can learn from your kids. Tell them that when they show you something you didn’t know. #10 I’m lucky to have such a kind child. This reinforces the value of kindness that every kid can benefit from having. #11 You’ve got so many great ideas. Your kids are a font of creation. Tell them that you love that about them and encourage their creativity. Whatever you focus on you get more of. #12 You make people around you smile. Kids are a great joy if you look for it. #13 You’re not afraid to dream big. We should be encouraging our children’s dreams and ambitions. #14 Your willingness to try is admirable. If you encourage their willingness to try, they will put in the effort to try new things more often. #15 You bring so much joy to our family. Kids have a memory bank that you need to build. The fastest way to remove mental health issues like anxiety, fear, and depression is using compliments like this. #16 You glow when you smile. Smiling has a physiological effect. Reinforcing the act of smiling makes it more of a habit. #17 I really admire the person you have become. This acknowledges their growth and that they are a good person as they are. Children need parents that build them up and a lot of that has to do with the language we use. Compliments are free so take 21 days and turn complimenting your kids into a habit.     Mentioned in This Episode: gravystack.com.smart smartmoneyparenting.com Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

What is the best way to talk about finances in a marriage? In today's episode, hosts Chad Willardson and Scott Donnell discuss the money conversations couples should have in a marriage. They break down simple ways to talk about money with your spouse and the essential questions you must ask your partner to understand their money mindset. Money conversations in marriage and the topics you should discuss with your spouse. Share your successes and mistakes as a parent with your kids. It doesn't scare them. It helps them learn and grow. Scott and Chad discuss the benefits of increasing the quality and frequency of your money conversations with your spouse. For Scott, you don't have to know everything about money to have productive financial conversations with your kids. You can always ask a friend or a mentor to talk to them over dinner. Scott and Chad cover creative money and finance-related questions you can use to understand your partner's money mindsets. For Scott, you don't outgrow your partner in marriage; you just grow apart. Chad and Scott agree that couples must have frequent conversations about money, especially if the goal is to stay together long-term. According to Scott, the best marriages work because couples are open and honest with one another. It's very normal to disagree on finances as a couple. Chad believes it's almost impossible to come from different backgrounds and share the same views about money.     Mentioned in This Episode: gravystack.com.smart smartmoneyparenting.com Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

Scott and Chad sit down and discuss the intricacies of parenting with Dan Sullivan, a renowned coach and mentor to thousands of people around the world. Dan talks about the history of parenting and why we are in the middle of a tremendous cultural shift and why Gravystack will change the world. Dan’s role model for his later years has been his father, who had his best business year at the age of 82. Dan felt that the day his father retired was the day he no longer knew who he was. There is a crisis in parenting and the younger generation at the moment. Up until recently, we’ve been living in a world shaped by the Bretton Woods Agreement after World War 2. The resulting political climate made sense as long as the Soviet Union existed, but after the collapse in 1991, everything has changed, and that has created an artificial world where we’ve been raising kids. In the 40’s and 50’s, children were an asset. The financial security of the family relied on children being able to accomplish tasks, but the relationship of children to parents began to change after that time. Children became more of an expense than an asset. In the past, it was more common for children to know what things cost and the finances of the family. The more accurate and fully you inform your children, the less chance you have of a misunderstanding. The current condition of parenting and children can be traced back all the way to the 60’s. Covid has had two benefits; children found out what their parents did for a living, and parents learned what their children are being taught in school. Education should be based on its practical ability to create value in the world. Finances are a major hole in the education of children in general. Children can’t educate themselves, despite what one side of the political divide says at the moment. Parents need to provide them the tools to succeed in the world. The average Strategic Coach client has 3.5 kids. Dan likes to say it’s because clients often end up with both a lot of time and money, which are great conditions for a larger-than-average family. We are on the threshold of a cultural shift in regards to economics and finance. Savings always beats debt.     Mentioned in This Episode: gravystack.com.smart smartmoneyparenting.com Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

Children need to experience healthy struggles to realize their full potential. Scott and Chad discuss how to create smart, successful, confident children by allowing them the space to overcome challenges in their own lives. The impulse to give your children all the things you never had as a kid comes from a good place, but it can prevent them from growing in the ways they need to. As parents, it’s easy for us to intervene and tell our kids what to do, but that hinders a child’s ability to make hard decisions for themselves. Your goal as a parent is to let your kids go through life experiences themselves, but to coach them along the way. We want to let our kids do dangerous things safely so they can build their competence and confidence. One way to gauge this is whether your children are willing to try new things. Are they nervous and hesitant about trying new activities? Helping a kid overcome a problem gives them confidence for life. Most kids struggle and want to give up as a default. Instead of telling them to suck it up and keep pushing, show them the value of overcoming challenges by embodying that value yourself. It takes discipline as a parent to allow your children to struggle. Ask questions instead of just solving their problems for them. Teach them to think through their challenges and work through things on their own. Watching your child figure out problems and gain confidence in themselves is fantastic. Solving your kid’s problems for them just creates a dependency. If your child needs to raise money for an activity, challenge them to reach out beyond family and friends. Overcoming challenges consistently will build children up into capable, confident, and effective adults. Chad tells a story of his seven-year-old son learning how to surf and being challenged enough to want to quit. You can’t expect your kids to get everything they need to be successful in public school.     Mentioned in This Episode: gravystack.com.smart smartmoneyparenting.com Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

Your relationship with your children is going to be the foundation for everything you do. If you try to enforce rules without having a strong relationship first, you end up with rebellion and strife. Listen in to Scott and Chad talk about how to develop trust with your children and why being a safe but firm authority figure is the foundation of a healthy relationship. Chad tells the story of how his daughter asked to have a cell phone in 7th grade and the reasons why he and his wife thought it wasn't the best idea. There is no substitute to spending time with your kids. If you find your children rebelling against your rules, you need to start by investing more time with them. The more you connect and show them that they are your priority, the more trust and depth of a relationship you will have. Don’t ask them about their day when you are staring at your phone. Give them your full undistracted attention and show them that you care. If you have more than one child, spend time with each of them one-on-one. You need to have a relationship built on trust in order to have difficult conversations or lay down rules. Every kid will push boundaries eventually. When that happens the goal is to be a safe wall and avoid blowing your top. Be the safe wall that your kids can bounce off of safely. Your kids will understand the rules and the boundaries better when they know they are part of a family unit. What your family stands for flows into your children’s relationship with the rules. Both Scott and Chad have family mottos that encourage everyone in their family to overcome challenges and hardships. This value structure leads to kids that feel confident and resilient, and encouraged to be their best selves. We want kids to be strong-willed, independent, and willing to stand up for what’s right, but that can only be established and enforced within a family where the relationships are built on love and trust. Chick-fil-A’s corporate culture is a good example of how results come from the quality of your relationships. They use the SERVE core values in the business. See and shape the future, Engage and develop others, Reinvent continuously, Value results and relationships, Embody the values You can hold people accountable and build great relationships at the same time. The best leaders have great relationships with their people.     Mentioned in This Episode: gravystack.com.smart smartmoneyparenting.com Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

How do we raise children that have more than we did, but don’t become spoiled rotten along the way? In this episode, Scott and Chad discuss their philosophies on raising children, and also making sure children stay grounded, smart, and grateful for what they have, with a foundation of personal finance before they graduate high school. The overlap of Scott’s and Chad’s books create the foundation for Gravystack. The audience of the podcast is made up of parents from across the financial spectrum, and they all want the same for their children. They care about their children’s success and financial wellbeing. If kids can learn how to create value, they are going to grow up with a mindset of abundance and empowerment that will help them their whole lives. There are so many competing identities vying for our kid’s attention. All education should be based on the value that it creates in the world. There are three types of value: material, emotional, and spiritual. Every kid can create a lens to view the world on how to create those kinds of values from every situation. The confidence you get from a value creation mindset is unlike any other. This is what entrepreneurs do, and if kids can adopt this mindset, it can change the world. Not wanting your kids to struggle comes from a point of love, but not having to overcome struggles is what turns kids into spoiled, entitled adults. You have to put in the work to earn the trophy for your accomplishments. Parents have a tendency to shelter their kids, but children need to struggle through certain things in order to learn their own value. Healthy struggles create capability in kids. Capabilities create confidence. Confidence and capability together creates value in the world. Going through tough things is the antidote to entitlement, victimhood, and laziness. There is so much pressure on the younger generations right now. The value creation cycle allows them to take off that pressure and find ways to create value in the world and feel good about the efforts they put in. The frameworks in the book remove the bribery and coercion that most parents have to resort to in order to get their kids to take action. If, as a parent, you always intervene in your kid’s life, you prevent them from ever developing the capabilities they need to succeed.     Mentioned in This Episode: gravystack.com.smart smartmoneyparenting.com Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

Should you split finances in marriage? In today's episode, hosts Chad Willardson and Scott Donnell discuss the benefits of being honest and transparent about finances in a marriage. They go through practical ways to talk about money with your spouse and how financial dishonesty destroys intimacy. Scott starts the conversation by explaining how raising smart money children requires input from both parents. How transparent should you be about money with your partner? Chad and Scott believe the more open you are, the more stable your relationship will be. According to Chad, people often marry polar opposites when it comes to finances - there is always a spender and a saver. Although there is no one-size-fits-all answer to finances, Chad and Scott agree that if you plan to stay married, you must be honest about your finances. If you want alignment in your marriage, you have to work together as a team. Scott describes how transparency builds confidence and intimacy in a marriage. For Chad, there is no point in hiding your finances because you'll have to face the truth at some point. Scott reveals the role finances play in building physical and emotional intimacy. Chad and Scott agree that secrets, especially financial secrets, ruin beautiful relationships. Chad shares why it's impossible to agree on finances 100% of the time. Scott and Chad break down financial infidelity - Do your marriage a favor and stop keeping money secrets from your spouse. Chad highlights the benefits of sharing your financial goals with your partner. According to Scott, great things happen when a couple becomes financially aligned. For Chad, the non-financially inclined spouse will appreciate you more when you're open and transparent about your finances.      Mentioned in This Episode: gravystack.com.smart smartmoneyparenting.com Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

What is the best way to pass on inheritance to your loved ones or the community? In today's episode, hosts Chad Willardson and Scott Donnell discuss the 7 ways giving while living can add fulfillment and joy to your life. Scott and Chad start the conversation by explaining why giving while living is better than an inheritance after you die. For Chad, giving while living is about sharing your wealth and knowledge while you're alive so you can see the impact your money has on people. Scott believes dying with lots of money in the bank doesn't help you achieve anything. Scott explains the benefits of sharing your wealth while you're alive - you don't want your heirs to wait impatiently for you to die. Chad shares a heartbreaking story of how a mother and son moved in for their loved one's money barely 12 hours after his death. According to Scott, the satisfaction you get from giving while living can extend your life expectancy and deepen your relationships with loved ones. Chad reveals why giving is not about giving your heirs what they want all the time - you risk spoiling them if you do. Chad explains why giving while living is more powerful than inheritance without education. Scott and Chad reveal the amount of money you would need to guarantee a stress-free retirement. Scott shares the most important money habit to teach your kids. Give authentically because your kids can tell when you're inauthentic. Scott talks about his grandfather's legacy and how he used his wealth to build a tight-knit family.     Mentioned in This Episode: gravystack.com smartmoneyparenting.com Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

How do you keep your kids safe online? In today's episode, hosts Chad Willardson and Scott Donnell go through practical ways parents can keep their kids safe online. They discuss the types of risks your child is exposed to, ways to identify potential online threats, and why you need to make it clear that they can talk to you about anything. Scott and Chad start the conversation by revealing many parents don't know where to start when it comes to keeping their kids safe online. According to Scott, all our kids are compromised as long as they own electronics. Chad shares a terrifying story of a malicious stranger targeting his teenage son. Scott and Chad agree that kids these days are way smarter than their parents when it comes to tech. Scott shares a shocking statistic - over 60% of 5-year-olds have made an in-app purchase using their parent's phone without them realizing it. Yes, kids are tech-savvy, but Scott believes they don't have enough experience to know when they are at risk. Chad and Scott break down a game in GravyStack that parents can use to teach their kids about online safety. For Chad, the best time to start teaching your kids about online safety is three years earlier than you think you should. Scott and Chad discuss building trust with your kids so they come to you when they feel compromised. Chad highlights the benefits of having rules around using technology in the house - and why he believes monitoring your kids is not an intrusion on their privacy.      Mentioned in This Episode: gravystack.com smartmoneyparenting.com Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

Did you know your money mindset can determine your financial destiny? In today's episode, hosts Chad Willardson and Scott Donnell break down the seven mindsets keeping you and your kids poor. They explain how these mindsets influence your money decisions, how to stop being anxious about money, and the changes you can make to secure your financial future. Scott and Chad start the conversation by revealing that the money mindsets you raise your kids with will stay with them forever. Scott and Chad explore why 90% of multi-generational wealth gets spent or wasted in one to two generations. Mindset #1 - Paying yourself last. It's crazy how much people spend on bills and expensive subscriptions without investing a single cent in their future. For Scott, paying yourself first keeps you motivated and gives you money confidence. Mindset #2 - Keeping up with friends that have expensive tastes. Chad shares why keeping up with the Joneses is terrible for your financial health - you don't know what they did to get there. Scott reveals the benefits of living off the interest of your investments. Scott is not a fan of the "fake-it-til-you-make-it mindset." He believes you'd much rather make smart money decisions until you make it. Mindset #3 - Not knowing where your money goes. Chad reveals that 92% of Americans don't look at their monthly statements - knowing your numbers is a crucial step toward financial independence. Mindset #4 - Debt and buying beyond what you can afford. Scott shares why he thinks living in debt is not a great way to live - and if you're in debt, you need to find a way out. According to Chad, the only type of debt you should have is appreciating debt or borrowing money to invest in something. Mindset #5 - Not planning for purchases in advance. Scott believes this is a common mistake among Americans - one that most cannot recover from. Mindset #6 - Not investing until you have enough money. Chad and Scott agree that people should stop assuming they'll invest when they get enough because they'll never have enough. The earlier you start, the better. Mindset #7 - Being clueless about taxes. For Scott, if you don't know your taxes, you'll forever have a poor mindset about money, which you'll likely pass on to your kids. Chad reveals where refunds come from and why you should not be excited when the IRS sends you a tax refund.     Mentioned in This Episode: gravystack.com smartmoneyparenting.com Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott/ Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

How would you react if your newly launched podcast hit the number one spot a few hours after launch? In today's episode, hosts Chad Willardson and Scott Donnell say thank you for supporting and believing in their mission to create 50 million financially competent kids ready to succeed in the real world. Scott and Chad are excited and grateful for all the love and support you've shown the podcast since its launch. Scott believes raising smart kids that create value in the world is essential for moving humanity forward. Scott and Chad review some cool feedback from parents who listen to the podcast. Scott reveals the thing they're most excited about with the podcast is that people see the benefits of the podcast and want to share it with others. Chad explains why teaching your kids about money is so important for their success. According to Scott, everybody cares about financial literacy - it's a shame very few people know how to do it practically. Scott believes our kids' well-being is the one thing that can unify this country. Dan Sullivan, one of the most brilliant people in the world, said the podcast would change the education system as we know it. Scott explains why he feels education should be prioritized based on its practical application in the world. Chad and Scott share what the pandemic revealed about the education system - plus, kids now know what their parents do when they're at work.     Mentioned in This Episode: gravystack.com smartmoneyparenting.com Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott/ Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

How do you build a strong relationship with your kids? In today's episode, hosts Chad Willardson and Scott Donnell go through ways parents can build deep relationships with their kids. They discuss the foundation of a strong parent-child relationship, signs your parenting style is super effective, and advice for parents with teens. Scott starts the conversation by revealing how they come up with podcast topics. According to Scott, teenagers generally don't want to rebel. They are just trying to find their place in the world. Scott and Chad emphasize that you want to be the one your children call when things are both good and bad. Scott explains why years 0 to 12 will shape the kind of relationship you'll have with your kids. Scott is convinced there is no substitute for spending time with your kids. Chad shares the benefits of intentionally spending time with your kids. Scott reveals that 93% of all the time you'll spend with your kids will be from years 0 to 18½. Nobody on their deathbed wishes they could have worked more. Chad talks about regrets and making time for your spouse and kids. For Scott, the people who matter don't mind - and those who mind don't matter. Scott and Chad break down common parenting styles and why just being present is the best one of them all. Scott reveals the secret to GravyStack's success and how they turn parents into heroes. According to Chad, parenting is not about being the best 100% of the time - you're human and bound to mess up at some point. Scott explains why he believes, as a parent, you'll know you're doing a good job when your kids come to you when they're unsure about something. Chad shares how a father-son relationship saved his life even before he was born.     Mentioned in This Episode: gravystack.com smartmoneyparenting.com Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott/ Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

What are the benefits of teaching your daughters about entrepreneurship? In today's episode, hosts Chad Willardson and Scott Donnell discuss daughters, women, and money. They talk about the responsibility we have as parents to teach our daughters about money and entrepreneurship. We all have the responsibility to teach our daughters to become business owners and investors rather than shoppers and consumers. Scott starts the conversation by revealing the role parents play in teaching their daughters about money. Scott explains the benefits of raising daughters to be motivated value creators. Chad reveals the problem with only talking to your sons about business and entrepreneurship - and ignoring your daughters. According to Chad, your kids don't have to become entrepreneurs - but they need to learn how to solve other people's needs and create value in the world. 25% of teenage girls have mental health issues. Scott breaks down the driving factors behind this unfortunate statistic. Scott reveals that in all the years he's been in business, the best leaders he's worked with were mostly women. Scott and Chad discuss how the nurturing tendencies in women are now driving business success. Chad describes the benefits of cultivating an entrepreneurial mindset in young girls. For Chad, teaching girls business and presentation skills can help them become confident and self-reliant. Chad is convinced that families would function better if husbands included their wives in making key financial decisions around the home. Chad and Scott agree that couples with unique individual attributes and strong financial skills build the most successful marriages. Scott explains how teaching your daughters business skills means they never have to depend on anyone for anything. Chad shares why he believes parents should complement their daughters on more than just their looks.     Mentioned in This Episode: gravystack.com smartmoneyparenting.com Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott/ Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

How much do your kids know about what things cost? In today's episode, hosts Chad Willardson and Scott Donnell discuss how to teach kids about money and the true cost of things. They talk about the benefits of involving kids in financial decisions at home, a smart way to save $547 annually, and what it takes to raise financially literate kids. Do your kids know how much it costs to fund their lifestyle? Scott starts the conversation by describing why you need to start involving your kids in making financial decisions in the house. Scott believes your kids will struggle if they leave the nest without understanding the true cost of things. According to Chad, the easiest way to make your child appreciate money is for them to earn it and spend it. For Scott, the more a child can learn how much things cost, the better they become at differentiating between wants and needs. If your kids are not asking questions about money, Scott believes you're in trouble because you're essentially raising them in a bubble - and the bubble will burst. Involving your kids when unsubscribing from unnecessary programs is a great way to teach them the difference between wants and needs. Scott reveals the one game in GravyStack that can save you $547 annually. Learn how to uncover the motivation behind your child's wants and presumed needs. Scott explains why you don't have to say no every time your kid wants you to buy them something - make them earn money, and they'll learn how to spend it. According to Scott, it's essential that you don't assume your kids know the price of everything in the home. Chad reveals that kids don't like talking about money because it's the source of most arguments at home. Chad explains how money-related issues can strain parent-child relationships. Did you know that over 90% of generational wealth is lost or wasted by the second generation? Chad describes a great way to pass on generational wealth successfully. Remember, you're not a parent for 18 years. You're a parent for the rest of your life - it's a blessing when you do it right.     Mentioned in This Episode: gravystack.com smartmoneyparenting.com Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott/ Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell

Should all kids become entrepreneurs? In today's episode, hosts Chad Willardson and Scott Donnell discuss how kids can learn to think, act, and live like entrepreneurs. They cover fun and engaging ways children can learn about entrepreneurship, lucrative businesses to start, and the skills needed for future career success. Scott starts the conversation by explaining why kids should be taught how to dream, act, and live like entrepreneurs. Chad and Scott believe that not all kids can become entrepreneurs - but thinking like one is probably one of the best skills you can teach a child. Scott reveals the ideal starting point when teaching kids how to become entrepreneurs. According to Scott, all kids have to learn the art of value creation and how to put something into the world that is useful to others. Scott reveals the tremendous impact The Children's Business Fair has had on kids worldwide. Scott breaks down the three foundational steps of a great pitch. Chad explains ways kids can learn how to develop viable business ideas. For Scott, the best way to find meaning in life is to solve problems for yourself and those around you. Scott describes why profit is not a bad thing - it's the lifeblood of every business and the reward for putting your capital at risk. Scott believes kids are far more likely to overcome laziness and negative self-doubt when they feel valued and of service to others. Chad explains how learning to pitch can help your kid overcome being introverted and socially awkward. Chad and Scott define price testing and how kids can learn to do it correctly. Chad talks about business opportunities for kids that are way better than lemonade stands.     Mentioned in This Episode: The Compound Effect: Jumpstart Your Income, Your Life, Your Success by Darren Hardy gravystack.com smartmoneyparenting.com Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott/ Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell