How to Raise Financially Independent Children Podcast

Nikki Bush in conversation with the down-to-earth, calm and thoughtful financial advisor, Wayne Rogers. We discuss how to raise financially-savvy and financially-independent children, so that they will not be on their parents’ payroll into their 30s! Wayne has raised three children and believes it’s not difficult for young people to become financially independent. His eldest daughter is a hairdresser who was able to purchase her first property at the age of 25 years! Yes, you need to listen up. Wayne is a Certified Financial Planner with the Financial Planning Institute and has 28 years of experience.

The conversation covers:

How to cut the financial- apron strings with your children, and why that’s important
The secrets to setting your children up for financial success for life, no matter what qualification they have or how much their earn
How adulting naturally brings young people into conflict with their parents as they try and spread their wings
Reading the signals and doing something to support the independence process, through money
Helping children to move on
The 20% rule
The debit order discipline
How your children can buy their own property in their 20s
Does your child need a credit card to get a credit rating?
The importance of liquidity
The importance between a track record at work and a track record at the bank

“There are two things that are very important for young adults living in South Africa: having a skill and owning a car. Without these, they are not going to move forward.”

Wayne Rogers, Financial Advisor

“We have a few opportunities to influence our children, and we have to take those opportunities when they present themselves. One of those opportunities is when they receive their first pay cheque”

Wayne Rogers, Financial Advisor