One of our GOAT listeners called in with a question about cryptocurrency, and Ryan is psyched. Crypto is everywhere right now, but it can be kinda hard for kids (and grown-ups!) to know how it all works. We’ll head to the far reaches of the internet to learn about the promise and peril of crypto, and why any form of money only works if you believe it will … whoa.
Your kid might not be ready to put their allowance in bitcoin, but they’re likely already seeing tons of ads, online videos and news stories about crypto. Here are some questions you can ask to check their understanding.
A big takeaway from this episode is how much the whole idea of “money” depends on a group of people agreeing that something has value and choosing to use it among themselves. Our very first episode talked about this, highlighting ancient people who traded bones and shells. You might try to home in on your kid’s interests here: Do they swap food with their friends at lunch? Collect Pokémon cards? Buy Fortnite V-Bucks? Who decides what these things are worth?
This video from the International Monetary Fund is a nice refresher on this episode’s key points — with fewer goofy sound effects. If your kid is getting the basics, check out this great Investopedia article for next steps to keep the discussion going.
For grown-ups interested in learning more about crypto, our podcast “Make Me Smart” has a great episode on the winners and losers as bitcoin goes more mainstream. If you’re curious about bitcoin mining, here’s a story explaining the process in plain English.
We’d love to hear your kids’ money jokes, money poems and best money tips so we can feature them on the podcast! Send them to us using this online form.
And we want to hear what parents think about “Million Bazillion”! You can help us by filling out a short audience survey: marketplace.org/survey
It’s official: kids love “Million Bazillion®!” From fun, creative lessons about trade to silly skits about the foundation of our economy, our team is committed to making kids and their families smarter about all things money.
We know you wish you had this podcast when you were a kid—and now you can make it possible for a child in your life.
Support “Million Bazillion®” in any amount to make financial literacy accessible for the next generation.
This show is made possible in part by The Ranzetta Family Charitable Fund and Next Gen Personal Finance, supporting Marketplace’s work to make younger audiences smarter about the economy. Next Gen Personal Finance is a non-profit that believes all students benefit from having a financial education before they cross the stage at high school graduation.
Greenlight is a debit card for kids and teens. But it’s so much more. Since 2017, Greenlight has helped more than 5 million kids and parents explore the world of money together. Collectively, Greenlight kids have saved more than $250 million and Greenlight families have invested more than $10.5 million.
With Greenlight, parents can automate allowance, manage chores, set flexible, store-level spend controls and help their kids learn about investing. Kids explore lessons in earning, saving, spending, giving and investing with a debit card and app designed just for them.
Related Posts
