She was a millionaire before she even turned 25, and now Hannah Kesler is sharing her money saving tips with others.
Kesler, who is known as The Single Millionaire Chick, appeared on “Live In The D” to share some simple, realistic ways to help families and kids become more money savvy.
“We have to start early and integrate money into daily life,” Kesler suggests. “Discuss how we make it, where it goes and how you decide to spend it.”
Kelser suggests giving your kids an allowance and tying it to chores.
When it comes to teaching kids about budgeting, Kelser explained the 3-cup system she was taught while growing up. One cup was meant for saving money, another was for spending money, and the third cup was for money that could be used for giving. Kesler said that she’d save 50 percent, spend 40 percent, and give 10 percent of her money through donations.
When Kesler got older, she said her mother added a fourth cup for investments. Some of the money that was set aside for saving was allocated into the invest cup.
“This is where she would introduce compound interest,” Kesler said. “I always say it this way: Your dollar is your little green man, and the objective is go put your little green men to work for you. Create an army of green men that are out there working so then you can take back your time, freedom, your location,” she explained.
Watch the video above to hear more tips for teaching kids about money.