Teach Kids to Avoid Debt and Invest
Team TRADEway • June 29, 2019
How do we teach our kids how to invest and how to avoid debt? For me, this was really important because I used to be in a lot of debt, and I used to be scared to death of investing. If you feel like that, and if you're wondering, “how can I get help with that?”, come check us out at a TRADEway event. We'll help you out. But then we still have to transfer that to the kids, right? We want to teach them this skillset. So, how do we do that?
Here's how I started. First, I let my kids get in debt. Oh, that's a horrible idea, right? No! It's actually a really good idea and here's why. First, I let my kids say, "Hey Daddy, I want this. I want that." And I said, "Okay, great. You're going to use your own money." "What?" "Yeah, use your own money." So, they'd have to work a little bit and make a little bit of money and that taught them that money was not infinite. They've got to figure out how to get more of it.
Next, we went to the store and it was time to make their purchase. When they found out how much it was, they said, "I don't have enough Daddy." Well, guess what, I didn't just give it to them. I made them go back and work for more. It's terrible; I know. You're going to feel like a horrible parent. But, it's going to be awesome for the kids.
Now if that's just too mean, there is an alternative. Go ahead and loan them a little bit of money, which gets them in debt. Then make them pay you back. It's a good idea because you can control the consequences for them. It will make that kid think, "I do not like debt." My kids hate it. I made them get in debt to me once, and they despise it now. My little girl says, "I don't want debt, Daddy. I'll save up my own money." And my reply is, "Good job. Good idea." So, this gives you a great foundation for preparing them for later in life. They can see that debt can be used to get the things they want, but they're going to have to work to get that debt paid off.
Next is investing. How do we teach them about this? First, help them set large goals. Help them set goals that are just really way up there so that it will take them a lot of time to reach them. For my little girl, it was gymnastics equipment. She's into gymnastics, and she wanted those uneven bars that she could swing on. She loves it, so that's what we were going for. It cost $300. I said, "Maddie Grace, use your money." "It's gonna take forever, Daddy." I said, "Yeah, would you like to learn how to make it go faster?" "How?" "Well, use your money to work for more money." And she said, "How do I do that?" Now it's time to teach her stock trading. She's only nine but she's already starting to understand it.
So, if you want to teach your kids how to invest, give them those big goals that seem hard to reach and then ask them, "Do you want to reach them faster? If you want to reach your goals faster, you need a way to leverage." This gives all kinds of opportunities to teach your kids about how to invest.
So, get them into debt and then get them into investing. Just let them experience it with you in control and making sure that they're safe the whole way. When you do that, you're a rockstar of a parent.
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By David Mitchell
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There seems to be two camps of people when it comes to debt. There are those that think debt is evil and should never be used by God’s people. They think it’s just a trap to enslave others. And then, there are those who believe that debt can help you create wealth–when used correctly. So which one is it? Let’s look at the story of Elijah and the widow’s oil to explore this topic more deeply... ✅ SUBSCRIBE TO OUR YOUTUBE CHANNEL ➡️ Join our upcoming Unlock the Stock Market Challenge HERE. Click Here to book a complimentary strategy session. MORE CONTENT: Should Christians Invest in the Stock Market? Habits Keeping You Poor 3 Phases of Wealth If I Wanted to Get Rich in 2024, This is What I’d Do Download the free guide “15 Daily Affirmations to Encourage and Inspire You in Your Trading Journey”: https://www.tradeway.com/affirmations Get started on your stock trading journey with one of our upcoming workshops or classes: https://www.tradeway.com/events .
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•
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Today I’m going to teach you the three things that will drastically change your relationship with money. Anyone with money problems of any kind probably doesn’t know one or more of these three things. So if that’s you, buckle up, because we’re going to fly through them together so we can obliterate those money worries. ✅ SUBSCRIBE TO OUR YOUTUBE CHANNEL ➡️ Join our upcoming Unlock the Stock Market Challenge HERE. Click Here to book a complimentary strategy session. MORE CONTENT: Rich People Do This With Money Hard Work Doesn't Build Wealth Mastering the Art of Trading Support and Resistance For Beginners Download the free guide “15 Daily Affirmations to Encourage and Inspire You in Your Trading Journey”: https://www.tradeway.com/affirmations Get started on your stock trading journey with one of our upcoming workshops or classes: https://www.tradeway.com/events .
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There are those that think debt is evil and should never be used by God’s people. They think it’s just a trap to enslave others. And then, there are those who believe that debt can help you create wealth–when used correctly. So which one is it? Let’s look at the story of Elijah and the widow’s oil to explore this topic more deeply...
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March 24, 2025
There seems to be two camps of people when it comes to debt. There are those that think debt is evil and should never be used by God’s people. They think it’s just a trap to enslave others. And then, there are those who believe that debt can help you create wealth–when used correctly. So which one is it? Let’s look at the story of Elijah and the widow’s oil to explore this topic more deeply... ✅ SUBSCRIBE TO OUR YOUTUBE CHANNEL ➡️ Join our upcoming Unlock the Stock Market Challenge HERE. Click Here to book a complimentary strategy session. MORE CONTENT: Should Christians Invest in the Stock Market? Habits Keeping You Poor 3 Phases of Wealth If I Wanted to Get Rich in 2024, This is What I’d Do Download the free guide “15 Daily Affirmations to Encourage and Inspire You in Your Trading Journey”: https://www.tradeway.com/affirmations Get started on your stock trading journey with one of our upcoming workshops or classes: https://www.tradeway.com/events .
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In today’s episode we’re going to talk about how President Trump’s economic policies may affect you. Many people are feeling scared about the tariffs creating price hikes on everyday goods. Are these tariffs going to be good for the US economy, or bad? Let’s get into it. ✅ SUBSCRIBE TO OUR YOUTUBE CHANNEL: https://www.youtube.com/@TRADEway ➡️ Join the upcoming Unlock the Stock Market Challenge: https://www.tradeway.com/unlock-the-stock-market Click here to book a complimentary strategy session: https://www.tradeway.com/call MORE CONTENT: How to Tithe as a Trader Trading For Beginners Unlock Your Entrepreneurial Spirit These 3 Money Habits Keep You Stuck Does the Bible Teach Money Secrets? Download the free guide “10 Steps to Choosing Your First Stock to Trade”: https://www.tradeway.com/guide Get started on your stock trading journey with one of our upcoming workshops or classes: tradeway.com/events
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Today we’re going to be talking about why central banks are purchasing so much gold right now. How much gold? Between 2022-2023, central banks around the world accumulated over 1,000 metric tons of official gold reserves according to the World Gold Council. Why on earth would they be doing that? That’s what today’s video is all about.
By Team TRADEway
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March 5, 2025
For the past couple of years, our Charts by TRADEway team has been working behind the scenes to bring you a seamless trading experience with one of the most innovative brokerage platforms out there— tastytrade . And now, we’re excited to share that Charts by TRADEway is officially compatible with tastytrade’s brokerage services!
By David Mitchell
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April 2, 2025
Have you ever felt like no matter how hard you work, you’re just spinning your wheels financially? You’re not alone. Millions of people struggle with money, and it’s not because they don’t work hard enough—it’s because they’re caught in three common financial traps . These money habits keep people stuck, preventing them from building real wealth and achieving financial freedom. But here’s the good news: you can break free. By shifting your mindset and applying a few key strategies, you can change your financial future forever. Let’s dive into the three biggest money habits that keep people stuck—and what you should do instead.
By Dave Huber
•
March 31, 2025
Today I’m going to teach you the three things that will drastically change your relationship with money. Anyone with money problems of any kind probably doesn’t know one or more of these three things. So if that’s you, buckle up, because we’re going to fly through them together so we can obliterate those money worries. ✅ SUBSCRIBE TO OUR YOUTUBE CHANNEL ➡️ Join our upcoming Unlock the Stock Market Challenge HERE. Click Here to book a complimentary strategy session. MORE CONTENT: Rich People Do This With Money Hard Work Doesn't Build Wealth Mastering the Art of Trading Support and Resistance For Beginners Download the free guide “15 Daily Affirmations to Encourage and Inspire You in Your Trading Journey”: https://www.tradeway.com/affirmations Get started on your stock trading journey with one of our upcoming workshops or classes: https://www.tradeway.com/events .
By Dave Huber
•
March 31, 2025
➡️ Join the upcoming Unlock the Stock Market Challenge: https://www.tradeway.com/unlock-the-stock-market Today I’m going to teach you the three things that will drastically change your relationship with money. Anyone with money problems of any kind probably doesn’t know one or more of these three things. So if that’s you, buckle up, because we’re going to fly through them together so we can obliterate those money worries.
By Dave Huber
•
March 24, 2025
There are those that think debt is evil and should never be used by God’s people. They think it’s just a trap to enslave others. And then, there are those who believe that debt can help you create wealth–when used correctly. So which one is it? Let’s look at the story of Elijah and the widow’s oil to explore this topic more deeply...
By Dave Huber
•
March 24, 2025
There seems to be two camps of people when it comes to debt. There are those that think debt is evil and should never be used by God’s people. They think it’s just a trap to enslave others. And then, there are those who believe that debt can help you create wealth–when used correctly. So which one is it? Let’s look at the story of Elijah and the widow’s oil to explore this topic more deeply... ✅ SUBSCRIBE TO OUR YOUTUBE CHANNEL ➡️ Join our upcoming Unlock the Stock Market Challenge HERE. Click Here to book a complimentary strategy session. MORE CONTENT: Should Christians Invest in the Stock Market? Habits Keeping You Poor 3 Phases of Wealth If I Wanted to Get Rich in 2024, This is What I’d Do Download the free guide “15 Daily Affirmations to Encourage and Inspire You in Your Trading Journey”: https://www.tradeway.com/affirmations Get started on your stock trading journey with one of our upcoming workshops or classes: https://www.tradeway.com/events .
By David Mitchell
•
March 17, 2025
In today’s episode we’re going to talk about how President Trump’s economic policies may affect you. Many people are feeling scared about the tariffs creating price hikes on everyday goods. Are these tariffs going to be good for the US economy, or bad? Let’s get into it. ✅ SUBSCRIBE TO OUR YOUTUBE CHANNEL: https://www.youtube.com/@TRADEway ➡️ Join the upcoming Unlock the Stock Market Challenge: https://www.tradeway.com/unlock-the-stock-market Click here to book a complimentary strategy session: https://www.tradeway.com/call MORE CONTENT: How to Tithe as a Trader Trading For Beginners Unlock Your Entrepreneurial Spirit These 3 Money Habits Keep You Stuck Does the Bible Teach Money Secrets? Download the free guide “10 Steps to Choosing Your First Stock to Trade”: https://www.tradeway.com/guide Get started on your stock trading journey with one of our upcoming workshops or classes: tradeway.com/events
By David Mitchell
•
March 17, 2025
In today’s video we’re going to talk about how President Trump’s economic policies may affect you. Many people are feeling scared about the tariffs creating price hikes on everyday goods. Are these tariffs going to be good for the US economy, or bad? Let’s get into it.
By Jared Russell
•
March 13, 2025
If you're looking to start stock trading or refine your skills in the world of buying stocks, the PowerUP Bundle from TRADEway is an ideal solution. Developed by expert coach Jared Russell , this powerful bundle is designed for both beginners and experienced traders who want to master key trading strategies and build confidence in their decision-making. The PowerUP courses might be exactly what you need to enhance your trading strategy.
By Ben Mitchell
•
March 10, 2025
Today we’re going to be talking about why central banks are purchasing so much gold right now. How much gold? Between 2022-2023, central banks around the world accumulated over 1,000 metric tons of official gold reserves according to the World Gold Council. Why on earth would they be doing that? That’s what today’s video is all about.
By Team TRADEway
•
March 5, 2025
For the past couple of years, our Charts by TRADEway team has been working behind the scenes to bring you a seamless trading experience with one of the most innovative brokerage platforms out there— tastytrade . And now, we’re excited to share that Charts by TRADEway is officially compatible with tastytrade’s brokerage services!