NGPF Podcast: Liz Frazier discusses her new book, Beyond Piggy Banks and Lemonade Stands
The daughter of a financial planner, Liz saw first hand how her Mom's practice helped families manage their money more effectively..so she eventually followed in her footsteps. In this NGPF podcast, Liz shares her approach to working with her clients, why she believes so strongly in a fee-only structure for financial planners and details some client success stories. In her new book, Beyond Piggy Banks and Lemonade Stands, Liz provides a "how-to" book to help parents with young children teach them the basics of money with a focus on real-world activities. From Liz's perspective, learning to manage money should be an active process and she provides lots of fun examples in this podcast. Enjoy!
- 0:00~1:24 Introduction
- 1:24~3:29 Becoming a financial planner
- 3:29~5:27 Mother’s path to becoming a financial planner
- 5:27~10:54 The fee-only structure
- 10:54~14:05 Clientele’s demographics and backgrounds
- 14:05~16:51 Patterns with people who get into financial trouble
- 16:51~21:58 Client success stories
- 21:58~22:24 A word from NGPF
- 22:24~22:50 Client success stories, continued
- 22:50~28:58 On writing Beyond Piggy Banks and Lemonade Stands
- 28:58~35:24 Activities for 10-year-olds
- 35:24~39:44 What all kids should know
- 39:44~40:31 Conclusion
“You don’t have to have a strict budget. The budget doesn’t have to be a form of punishment, it’s just a record of what you bring in, what you’re spending, and how much you have at the end. That’s a really important concept for kids to understand.”
About the Authors
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
Ren has been working part-time at NGPF since 2014, interning through high school and college. With his knowledge growing alongside NGPF, after graduating from college in 2020, he joined the team to work full time with a focus on teacher onboarding. He is also the editor of the NGPF podcast and makes sure it is accessible to teachers on iTunes, Stitcher, and Google Play Music. During his free time, he likes to try out coffees from different roasters across the world and try out new brewing methods, even though personal finance gurus tend to caution against buying a cup of joe.
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