Mellody Hobson

This is, I know, easier said than done. And it's, again, it's our money habits that they're picking up.

Yeah, start where you intend. And so what do you intend for your child? You know, certain things where you look precocious and cute really wear off early. You know, when you're 22, you just look like a jerk. And so just, you know, sort of vision, envision whatever it is today and then project it into the future.

Yeah, start where you intend. And so what do you intend for your child? You know, certain things where you look precocious and cute really wear off early. You know, when you're 22, you just look like a jerk. And so just, you know, sort of vision, envision whatever it is today and then project it into the future.

Yeah, start where you intend. And so what do you intend for your child? You know, certain things where you look precocious and cute really wear off early. You know, when you're 22, you just look like a jerk. And so just, you know, sort of vision, envision whatever it is today and then project it into the future.

But I would say right now, just being very practical, I would implore you not to give her a credit card or a debit card for the reasons I've already mentioned. She cannot comprehend this. It's too hard. And so, you know, she's got a few more years. You know, she doesn't even have, you know, sort of advanced reasoning yet, right?

But I would say right now, just being very practical, I would implore you not to give her a credit card or a debit card for the reasons I've already mentioned. She cannot comprehend this. It's too hard. And so, you know, she's got a few more years. You know, she doesn't even have, you know, sort of advanced reasoning yet, right?

But I would say right now, just being very practical, I would implore you not to give her a credit card or a debit card for the reasons I've already mentioned. She cannot comprehend this. It's too hard. And so, you know, she's got a few more years. You know, she doesn't even have, you know, sort of advanced reasoning yet, right?

And she might be the smartest kid ever, but it's still very hard to work these things through in your mind. And that just will not help her.

And she might be the smartest kid ever, but it's still very hard to work these things through in your mind. And that just will not help her.

And she might be the smartest kid ever, but it's still very hard to work these things through in your mind. And that just will not help her.

Wow, there's a lot there. First of all, congratulations. I have to say the same thing. Your first job, that's a big deal. And just embarking upon life, it's a very exciting time. And I don't know if that's your apartment, but if it is, that's an awful nice kitchen for her first apartment, just FYI. And your mom would be very happy with how clean it is.

Wow, there's a lot there. First of all, congratulations. I have to say the same thing. Your first job, that's a big deal. And just embarking upon life, it's a very exciting time. And I don't know if that's your apartment, but if it is, that's an awful nice kitchen for her first apartment, just FYI. And your mom would be very happy with how clean it is.

Wow, there's a lot there. First of all, congratulations. I have to say the same thing. Your first job, that's a big deal. And just embarking upon life, it's a very exciting time. And I don't know if that's your apartment, but if it is, that's an awful nice kitchen for her first apartment, just FYI. And your mom would be very happy with how clean it is.

But I will say that the piece of advice that I would give my younger self is advice that I knew at the time because I studied this issue, but I'd only double down on it is compounding is a very powerful thing. And what I mean by that, you can start with very small amounts of money. And if you give that money time to grow, it turns into very big amounts.

But I will say that the piece of advice that I would give my younger self is advice that I knew at the time because I studied this issue, but I'd only double down on it is compounding is a very powerful thing. And what I mean by that, you can start with very small amounts of money. And if you give that money time to grow, it turns into very big amounts.

But I will say that the piece of advice that I would give my younger self is advice that I knew at the time because I studied this issue, but I'd only double down on it is compounding is a very powerful thing. And what I mean by that, you can start with very small amounts of money. And if you give that money time to grow, it turns into very big amounts.

And so I think a lot of people think it's not even worth it to save $20 a month. It's not worth it to save $25, $10, whatever it might be. But when you do the math on that over 40 years, you've got thousands and thousands of dollars. And so every little bit adds up.

And so I think a lot of people think it's not even worth it to save $20 a month. It's not worth it to save $25, $10, whatever it might be. But when you do the math on that over 40 years, you've got thousands and thousands of dollars. And so every little bit adds up.

And so I think a lot of people think it's not even worth it to save $20 a month. It's not worth it to save $25, $10, whatever it might be. But when you do the math on that over 40 years, you've got thousands and thousands of dollars. And so every little bit adds up.

And I would just encourage you, even with living as tightly as you probably are, find a way to forego something that doesn't make you feel totally deprived. But if you could forego it occasionally, you could put away a little extra money. So, you know, if you get your lunch at work, one day you take a sandwich or two. You know, I can go down the list of those sort of things.