DIY Money Jr - How to Make Money in Your Neighborhood
episode
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
13 min
5 speakers
5 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
How do Quint and Allie introduce DIY Money Jr and invite kids to ask questions?
Hey, this is Allie, and thanks for listening to the show. Give us a five-star review where you listen and share this episode with someone who might need to hear it. Now, enjoy the show.
Welcome back, ladies and gentlemen. You're listening to another edition of DIY Money. DIY Money. Hey, Howard. Junior. Oh, yeah. We got a junior in the house. How about it?
It's been forever. I'm excited. I can't wait. It's about time. It's going to be great.
Yeah, it's going to be great. We'll roll right into it. But if you're new to the show, first of all, welcome. What we're talking about is we take questions on the show, and this one today is from a junior, a minor. And we obviously get the parents to sign off on that and so forth. But... If you have a young, inspiring mind in your household that asks you questions and so forth, say to them, hey, this would be a great question for DIY money. Let's record it. Send it in. And they'll get a $25 Amazon gift card. Or you'll take a parent tax and they'll get like a $10 Amazon gift card. I hate taxes. And you'll get a $15.
Or you won't tell them about the gift card.
Or you won't even tell them, and you'll be like, listen, good for you. You hear your name on the radio or on the podcast or whatever. So other odds and ends, we still need questions. Keep them rolling in. We appreciate it. Send those questions to podcast at diymoney.org. Visit us on the web, all the places, DIY Money Podcast. The Tribe is rocking on Facebook. Just hit up DIY Money Tribe. Any other things I'm missing? Podcast sponsored by Juul Financial. That's our financial business. We are fiduciary advisors. Allie is a CPA, does not do taxes anymore. All right, let's roll right into it. Isaiah, what do you got?
DIY!
What incentive and submission process do they offer for kids to participate?
My name is Isaiah and I'm a 13-year-old listener who recently enjoyed your episode about how kids can save money. It inspired me to think about ways I could take the initiative in my own neighborhood by starting a small business. I was wondering if you have any advice on how I could get started. Thank you so much for your interesting content and I would really appreciate if you could respond back in your podcast.
Isaiah, I love it. I am going to tell you something that... A billionaire told me. And this billionaire started a business with a $10,000 loan in his garage and ultimately turned it into a multi-billion dollar worldwide conglomerate. In our neck of the woods, if you're listening to this and you're from Kentucky, I am talking about Mr. Pierce Lyon of Alltech. And I used to have the privilege of running with him periodically, and I had the opportunity of chatting with him on occasion. And one time he said to me the greatest – I asked him, what's the best advice you could give somebody? And he said as follows, and I keep looking at the camera, which is totally not on. He said as follows. Quint in an Irish accent, which I will – that's the end of it.
That was the conclusion of my Irish accent. Quint. Short-lived. He said, don't worry about getting it right. Just get it going. And I say that, Isaiah, because I don't want you to overthink this. And many people do. So let's break it down. You want to make money in your neighborhood. While you're 13, you probably have a bike. You don't want to drive or you don't want to ride that bike to the next neighborhood. So it makes sense that in the proximity you're in, those are your potential customers. Very simple. So at 13, what are the things that you can do? Well, you could power wash. Simple. You could borrow money from your parents. Yep, put you on the hook there. Go buy a power washer. Tell them that, hey, you won't take a dime from the business until you pay the power washing back.
You come up with a little thing. Isaiah's power washing extraordinaire. Sunday, Sunday, Sunday. Huge sale at Isaiah's Power Washing. You go around to your, you know, $50 a driveway, underpriced, right, and overperformed. Go around to your neighbors, you know, put the information in their hands. Introduce yourself. I'm Isaiah. I'm looking to make money for the summer.
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Chapters
5 chapters
1
How do Quint and Allie introduce DIY Money Jr and invite kids to ask questions?
0:02–1:39
2
What incentive and submission process do they offer for kids to participate?
1:39–4:34
3
Who is Isaiah and what neighborhood business idea does he ask about?
4:34–5:53
4
What simple startup advice does Quint share from a billionaire’s lesson?
5:53–9:43
5
How can a 13-year-old start a power-washing side hustle in their neighborhood?
9:43–13:19