#14: The Psychology of Money: What You Really Need to Know to Teach Your Kids About Money

In our latest episode of the “How to Teach Your Kids About Money” podcast, COR founder, Alec, and COR mom and Chief Community Officer, Julie, cook up a hearty discussion on the challenging recipe of teaching kids about money, even when parents themselves are unsure. 

They unpack the psychology of money, pointing out that understanding finance is different from managing behaviors around it, much like the ins and outs of the science of nutrition are different from eating healthy and teaching our kids good food habits. 

Listen as Alec highly recommends The Psychology of Money by Morgan Housel, which is a big deal, since this is the first time  Alec has fully recommended a book with this kind of fervor over his 18-year career in finance. It’s a book Alec and Julie believe can truly change your view on finance.

A key point they highlight from the book is that money skills are behavior skills. Being good with money doesn’t require knowledge of complex financial topics. It requires certain behaviors. 

And while Housel asserts it’s really tough to teach behavior to adults … You know who it’s really easy to teach behavior to? Kids! 

Ever tried to teach a kid to make a salad? Julie also shares about a "junk food feast" at her daughter's school, where Julie turned a fun activity into a budgeting lesson for Cassidy. With Cassidy in charge of choosing what to buy within the set budget, she was able to learn about pricing, and make strategic choices.

Alec and Julie believe in money talks as an integrated part of family life, not a dreaded chore. They affirm that these money manners can indeed be learned, even if it takes a bit of trial and error, likening it to developing healthy eating habits.

Join us for this enlightening chat, learn some actionable tips on how to teach your kids about money,  and let's help our kids grow into financially savvy adults!



Don't forget to rate, review, and subscribe to "Cents of Responsibility". Please let us know if you enjoyed this episode or have any suggestions for future episodes. We'd love to hear from you! In the meantime, teach cents-ibly!


Relevant Links:

The Psychology of Money

YNAB (You Need a Budget)



In this episode:

- Alec Lindenauer, COR's Chief Allowance Officer, Financial Planner and Certified Financial Education Instructor℠

- Julie Frans, COR Chief Community Officer, and COR Mom


Want more resources to teach your child about money? Check ‘em out here:


💰How To Teach Your Kids About Money Podcast:


💰Cents of Responsibility Blog:



💰Cents of Responsibility YouTube Channel: @centsofresponsibility 


If you’ve thought about taking a complete, comprehensive course to teach your kids all about money, check out our flagship course here: https://www.centsofresponsibility.com/CORCourse1?utm_source=podcast&utm_medium=organic&utm_campaign=ep14

Also, follow us at these places below and say hi!


💵 Website: https://www.centsofresponsibility.com/?utm_source=podcaste&utm_medium=organic&utm_campaign=shownotes

💵 Instagram: https://www.instagram.com/centsofresponsibility/

💵 Facebook: https://www.facebook.com/CentsOfResponsibility

💵 TikTok: https://www.tiktok.com/@centsofresponsibility

💵 YouTube: @centsofresponsibility