Today’s guests are Annie Shoen and Nicolle Hood, co-founders of My First Nest Egg, a Chore, Allowance and Financial Literacy App.
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Annie Shoen and Nicolle Hood
Annie and Nicolle are the co-founders and co-CEOs of My First Nest Egg, which is a Chore, Allowance and Financial Literacy app that gamifies healthy financial habits for kids. They are both passionate about financial literacy for kids and believe that every child deserves a financially stable future and that financial literacy is the key to reducing income inequality.
They both have legal backgrounds, with Annie spending most of her career as a prosecutor in the criminal justice system, while Nicolle most recently served as general counsel to several private equity companies, as well as a non-profit board member and law professor. Annie is the mother to four children, while Nicolle has three kids and they live in Arizona.
- My First Nest Egg | Website
- Download My First Nest Egg | App Store | Google Play | Use invite code “MoneyDad” by end of October 2022 to download the app for free, for life!
- Email Annie and Nicolle | Email
- Annie and Nicolle’s childhoods as it related to exposure to money and finances
- What inspired them to go from practicing law to becoming startup tech entrepreneurs
- Their thought process around deciding to create an app
- How they created the app without knowing how to code or with tech backgrounds
- Why it is so important to teach kids early about money
- How habits are set by age seven and children, as young as five, have an emotional reaction to saving and spending money
- What are smart money habits that parents should be teaching their kids about money
- How learning to earn mindset can set your kids up for financial success
- The 50/30/20 rule to budgeting that kids can learn
- The importance of prioritizing needs vs wants
- The importance of learning to allocate money toward giving and being generous
- How we can teach our kids to be smart consumers
- How and why it is important to provide a supportive environment for kids to make money mistakes
- What the app is all about and how parents can use this as a tool for chores and allowances
- Their focus on mental wellness of kids
- The use of puzzles to teach delayed gratification
- Bubble | Building tech products without code
- Rich Dad, Poor Dad by Robert Kiyosaki
- How to win friends and influence people by Dale Carnegie
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Thanks to both Annie and Nicolle for joining me this week!
In case you missed it, make sure to catch up on last week’s episode “Episode 025: Teach Your Kids the Importance of Multiple Income Streams with Maya Corbic”!