The Complete Personal Finance for Kids and Teenagers Course

If you want to be better than you are today, you must do something to improve yourself.

In this episode, you’ll learn what it means to “invest” in yourself and how to improve yourself every day.

• Making the right decisions.

• Making a sacrifice today so that we enjoy a greater benefit tomorrow

• Making ourselves knowledgeable by reading books

• Spending money on important or useful things

• By helping others, we help ourselves and make the world a better place

• Sleeping early helps us to rise early and do important stuff and improves our health

In this episode, you’ll learn the following from Prof Stevy:

• What “Financial Freedom” is

• Benefits of having financial freedom

• How to become financially free

In this episode, you’ll learn the importance of financial planning from the well-known story of the three little pigs:

• Things that can cause us to lose our financial freedom

• The meaning of financial planning

• How to plan your finances

• The importance of financial planning

In this episode, you’ll learn how to think about money and relate to it. We will discuss the following questions:

• What is “the psychology of money”?

• Why are some people rich while others are poor?

• Does our human nature affect how we think about money?

• Is the economy fair to all people? Does everyone have the same opportunity?

• Should all people be treated equally, whether they are rich or poor?

• How do our personal experiences affect our financial decision-making?

• Does being “lucky” control whether we become rich or poor?

• How can financial literacy help us avoid being poor?

In this episode, you’ll learn what a budget is and how you can use it to plan how you spend your money.

• How can financial literacy and budgeting help us?

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You probably already know what money is, but there are many fun facts about money I bet you've never heard!

In this episode, you will learn how money works, and whether you say “currency” instead of “money.”

It is not what you think!

Watch this episode to learn the following:

• What is money?

• How and why did people start to use money?

• What is currency, and why do countries use different currencies?

In this episode, the characters time-travel to the ancient Roman empire to teach you about taxes.

Here is what you’ll learn:

• What is tax?

• Why do we pay taxes?

• Who should pay taxes

• How much tax should a person pay?

• What are the benefits of paying taxes?

Why do we have banks? One reason is to keep our money from danger, such as thieves or fire. However, banks play many other important roles in our lives, and after watching this episode, you will see just how important a bank is in any country!

Here are the things you’ll learn about banks in this episode:

• What exactly is a bank?

• How does a bank make profits after keeping our money safe for us?

• How much money should a bank have?

• Why do banks agree to lend the money it stores for some people to other people as loans?

In this episode, you will learn about interest and interest rates. This lesson will help you understand the following:

• What interest is

• What interest rate is

• How the lender decides the interest amount

• What happens when a person is unable to pay a loan

You probably have heard in the news that the economy is facing inflation, but perhaps you do not know what it means.

In this episode, you will learn about inflation, and why it is so important that economists always talk about it on TV.

Here is what you will learn:

• Demand

• Supply

• The supply of money

• Why prices change

• Types of Inflation

• Inflation versus deflation

• What does the government do to lower the cost of goods

• Why do the prices of goods change over time

• Types of Inflation

• Causes of different types of inflation

Here is a saying you probably have heard many times: “Being in debt is a bad place to be.”

If you know what a “debt” is, you’ll quickly agree with that saying. But why is it bad to be in debt? What is a “debt” anyway?

In this episode, you will ’ll learn about debt, including the following:

• What we mean by “debt”

• What are a “lender” and a “borrower”

• The rules to follow when taking and paying back debt

• When is it okay to take a loan?

• How to avoid being in debt

If you have already watched episode 12, you know what debt is. But do you know the difference between a “bad” debt and a “good” debt? If you have no idea, don’t worry! You are about to know!

In this episode, you will learn why a debt might be considered “bad” or “good.”

• What we mean by “bad debt”

• What we mean by “good debt”

• How to manage bad debts

• Bad debts we should avoid

Who pays for college when students graduate from high school? If a student’s family can’t afford to pay for their student’s college expenses, what happens?

In this episode, you’ll learn how the government helps students to cope with the high cost of college education as we try to answer the following questions:

• What is a student loan?

• Repayment of a student loan

• Interest rates for student loan

Just like ordinary people, businesses can go broke and lose their ability to conduct further business. Why does this happen, and what are the effects?

In this episode, you’ll learn about bankruptcy as we discuss the following:

• The meaning of “bankruptcy”

• What happens when a business is unable to fulfill its services and pay its debts

• How the people it owes money will be repaid

• Why a business may want to be declared bankrupt

• Types of bankruptcies

Everybody knows that saving money is a good idea, but do you know why? Personal finance refers to the state of your financial stability. How does saving help improve your personal finance?

In this episode, you’ll learn the following:

• Why people save money

• Benefits of saving money

• Ways of saving money

• When to save money instead of spending it

When people get older and retire, they will still need to pay their bills, even if they have left employment and do not have a monthly salary.

So, how do people survive during retirement?

In this episode, you’ll learn about retirement savings through a 401(k) and Roth 401(k).

• The 401(k)

• The Roth 401(k)

• The difference between them

• The benefits of choosing one over the other

If you have already watched the previous episode 16, you already have a good idea of retirement savings and 401(k) accounts.

But do you know about the Individual Retirement Accounts or IRA? Like the 401(k), we have a traditional and a Roth one.

In this episode, we’ll learn the following:

• The Traditional IRA

• The Roth IRA

• The difference between them

• Is one better than the other?

Parables are a great way to share knowledge through stories of events we can understand. Whatever religion you come from, this parable by Jesus Christ can teach us how to invest and create wealth.

In this lesson, you’ll see the universal truth behind the parable and use its wisdom to improve your personal finance skills. Here is what you’ll learn:

• The parable of the talents

• The unit of measurement called the “talent”

• How to be a good manager of time

• How to invest your time wisely

• The importance of having a positive attitude

For any action we take, there is always the chance that something could go wrong. An accident could happen at any time. But, how often in life do things go wrong?

In this episode, you’ll learn how to take chances wisely and weigh the risk of it going wrong. You’ll learn the following:

• The nature of a risk

• The likelihood of a risk occurring

• The reward of taking a risk

• How to prevent risks from occurring

• How to reduce the negative effects of a risk if it occurs

There are different ways that interest on a loan or an investment can be calculated, such as the simple interest rate we learned about in the “Interest Rates” episode. Another type of interest is known as “Compounding interest.”

Albert Einstein, the great scientist, once said that compounding interest is the eighth wonder of the world. Why would such a great scientist say that?

In this episode, you’ll learn:

• How compound interest works

• How compound interest can make you super rich or super poor

• Where is compound interest used

• Advantages and disadvantages of compound interest

Financial markets have many different types of investments you can make, and they all work differently.

In this episode, you’ll learn about bonds and stocks and their difference:

• What a bond is

• What a stock is

• The difference between them

• Whether one is better than the other

There are many strategies for ensuring profits in the financial markets, such as diversification, as we learned in episode 23. Mutual Funds and Index Funds are two other investment strategies.

In this episode, you’ll learn:

• What a Mutual Fund is

• What an Index Fund is

• The difference between them

• Whether one is better than the other

The wise saying goes, “never put all your eggs in one basket.” But what does it really mean?

In this episode, you’ll learn of a strategy used by investors in the financial markets to protect themselves from losing all their money. Key points in this lesson are:

• The meaning of the saying, “never put all your eggs in one basket”

• Risks faced in a financial market

• The meaning of diversification

• Benefits of investing in different companies rather than one

• Disadvantages of diversification in financial markets

Bad things like accidents can happen anytime without warning, causing much harm and damage. Some bad things are more likely to occur than others.

In episode 19, we learned that the likelihood of a risk occurring is “probability.” In this episode, we time-travel back to learn from the founding father Benjamin Franklin about insurance and how it can help us recover from the harm caused by a risk occurring. You’ll learn about the following:

• Risks and their probability

• Insurance

• Types of insurance

• Benefits of having insurance

Have you ever fallen victim to a scam where someone tricked and stole something from you?

Due to the wide usage of the internet, there are many more scammers today than ever before, and many people have lost a lot of money to them.

In this episode, we’ll time-travel to the Ottoman empire back in the 16th century to learn about scammers and how to avoid falling victim to a scam. Key lessons are:

• How to identify a scam

• What to do when a scammer approaches you

• Tricks used by scammers to temp you and trap you

• How to avoid falling victim to a scam

Do you like people who are kind and generous to others? I bet you feel good when someone shows you generosity and kindness.

In this lesson, you’ll see the universal truth behind the parable and use its wisdom to improve your personal finance skills. Here is what you will learn:

• What it means to “give back” to others

• Benefits of supporting others

• Showing kindness to others makes the world a better place