Clifton Corbin

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486 appearances 1 recordings 1 series first heard Apr 2025 last heard Apr 2025

Clifton Corbin’s voice in public audio — every appearance, attributed to the second.

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Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women · 123. How To Teach Your Kids About Money with Clifton Corbin · 15 Apr 2025 podcast

So if you're going out and you're looking at stuff, I could use an example from a couple of weeks ago.

We were on vacation.

We were looking at souvenirs.

My son wanted something.

I asked him, is that your awesome stuff?

He's like, no, not really.

then that was it that was the end of the conversation about buying something because it wasn't his awesome stuff so that's one way of doing it um and then as far as saving one of the things that you know i talk about most financial people talk about is making sure you save before you spend so you know pay yourself first that concept it works for kids just as well as it works for adults so making sure that the money that you get whether it's an allowance or some other form of income making sure that you take some of that and put it aside before you go out and spend

It allows you to spend without the anxiety because you know that you've just made sure you're covered.

You made sure that you're growing your savings, you're making sure that you're growing your wealth.

So as long as you're doing that, you don't have to feel anxious.

So I believe it was David who talked about one of his kids who spends a little bit more freely than his other son.

and he was a little bit anxious and he's like you don't need to be because you're saving first so you're good so but all of these lessons need to come from examples and they need to come from the kids actually using money so this is why i'm such a big advocate for allowances now like i said i know not all families um can provide allowances every family's budget is very different

One way that you can provide your kid access to money without giving them allowance is if you're budgeting yourself, and I hope you are.

And you know that you're going to be spending X amount of money for, let's say, back to school supplies or clothing or what have you, or you've got your lunch budget for the week or what have you.

Give that to your child.

You know you're going to be spending on them anyways.

Give it to them.

Let them manage it and say, OK, we're going to do some back to school shopping at the beginning of the school year.

Here's what we need or here's what you need.

And here's how much we have to spend.

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