EP 398: How to Raise Financially Independent Children
Aug 14, 2023
In this episode, we are going to learn some valuable insights on money management and raising financially savvy children with Maya Corbic. Maya is a passionate CPA and mother with over a decade of experience in teaching kids financial literacy, as well as empowering parents to raise their children to become financially independent adults. Her passion for this topic stems from her own personal experience as a first-generation immigrant from war-torn Bosnia, where her family lost everything in the war and immigrated with only two suitcases and $50. She understands firsthand the value of financial stability and independence and is committed to sharing her knowledge and experience with others.
Maya shares her story of moving from Bosnia to the US after losing everything in the war and how her experiences have taught her crucial lessons about budgeting and being a savvy spender. She then explains four different allowance methods that can be used to best equip kids with a successful approach to money management: chore-based, age-based, percentage-based, and need/want-based methods. Maya stresses the importance of teaching kids with family values in mind so that parents can create a personalized money teaching plan for their children.
- “In order to teach our kids the abundant mentality, we need to have it ourselves.” (12:29 – 12:36)
- “We all need to be teaching about money based on our family values, what it is that we believe in, and whatever works best for our family.” (15:07 – 15:16)
- “Allowance is often misunderstood as a gift, but it's actually a valuable tool for children to learn money management in low-stakes situations.” (15:58 – 16:14)
Connect with Maya:a
Instagram: @teach.kids.money
LinkedIn: Maya Corbic
Website: Dinarii Financial Education
Resources Mentioned:
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