Full transcript
0:00They say they've never been able to
0:01save money in their life . Their child
0:03wants extra tutoring , but they have no
0:05funds . How should they tell their child
0:06? Regarding spending , don't just teach
0:08kids to be " thrifty " because they don't
0:10know what level that means , but don't
0:11use the phrase " Mom and Dad have no
0:13money . "
0:13>> Oh , what if we have 100 million in debt
0:15? Should we tell the kids ?
0:16>> Mom , you stay out of it . The most
0:18frightening thing is that children
0:19aren't trained in financial
0:20decision-making . Children learn the
0:21most about money from their parents . In
0:23our house , we don't say money is hard
0:24to find , because money is easy to find .
0:26You should adjust your mindset , because
0:28eventually , all that debt will come
0:29back around to your kids . Hello . Today ,
0:37we are back with the " Toh Ma Ngai " show
0:40again . A program that believes in the
0:42importance of childhood . Today is very
0:45special . We have a guest who is one of
0:50the top financial coaches in Thailand .
0:54As parents know , money matters are
0:56truly important . But in Thailand , very
0:59few schools actually teach financial
1:01literacy . Today , we have an expert in
1:03this field to share knowledge with all
1:05the parents . Welcome , Coach Num .
1:09>> Hello , hello .
1:11>> Hello .
1:12>> Yes , hello , hello .
1:13>> Coach Num , you've ...
1:15>> Yes . ...
1:15>> been in the financial coaching industry
1:17for a very long time , ever since I was
1:19a kid , Coach Num .
1:20>> Oh , I'm done for .
1:22>> Just 21 years , just 21 years , since
1:262005 .
1:27>> Yes .
1:28>> I've been doing this the whole time ,
1:30and I might be lucky because I've met
1:32every generation and every age . Most of
1:36the students who come to learn with me
1:38are around 25 to 40 years old .
1:40>> Ah .
1:41>> And 20 years have passed , so now they
1:43have children , and they are all grown
1:45up , and they come to consult me too ,
1:47saying ... ...
1:48>> how should I teach my child , and things
1:50like that .
1:51>> So , it turns out I have more and more
1:53students from the younger generation
1:54now .
1:55>> Yes , indeed .
1:56>> And Coach Num , how do you teach young
1:58kids about money ? Suppose that since
2:01Thai schools don't teach it , you teach
2:03them yourself . What do you think they
2:05need to know ?
2:06>> Well , actually , we've created a course
2:08now called Money14 .
2:11>> But we're starting with high school
2:12students first . There are two courses .
2:15Money14 for junior high . Money14 for
2:18senior high . It all started from
2:20talking to the Minister of Education .
2:24And they said that teachers couldn't
2:25teach it . It's not that the teachers
2:29aren't good at finance . But they
2:31already have too much on their plates .
2:33If they have to learn a new financial
2:34subject to teach kids , they wouldn't
2:36feel confident .
2:37>> So , we created instructional videos .
2:39>> We've released them , and they are now
2:41available for free nationwide .
2:43>> Uh-huh .
2:46>> At first , we thought teachers should be
2:48the ones teaching finance , but since I
2:50have children of my own , I looked at
2:52the reality — kids actually learn about
2:54money most from their parents .
2:58>> Mm .
2:59>> They are the most important teachers ,
3:01not the ones in school . We found that a
3:04true fact is that a financial mindset
3:06is instilled through parents '
3:08conversations . Parents ' financial
3:11perspectives are communicated directly .
3:13It's , well , we have to use this term .
3:15Parents are their children's heroes .
3:17>> So , how you act and how you talk about
3:19money matters .
3:19>> If parents argue every time they talk
3:21about money , the child will remember
3:23that money is a topic that shouldn't be
3:25discussed .
3:25>> Mm-hmm .
3:26>> Discussing it leads to fights , so when
3:28we built the curriculum , we had to sit
3:31down and talk to parents about how to
3:33make it easy for them to teach it ;
3:35honestly , don't rush them , because if
3:37kids don't have fun , they won't learn .
3:39>> Right .
3:40>> Just don't force it on them . Go ask any
3:42kid if they like school . Not many will
3:44say they like school , right ? If they
3:46like school , it's usually to see their
3:47friends . They might not like school
3:49because they think , " Oh , I'm so happy I
3:50get to sit and study . " Therefore ,
3:52absolutely do not force them .
3:55>> Maybe by late elementary school , when
3:56they start to understand the value of
3:58money .
4:00>> Mm .
4:02>> We can start teaching them about
4:03spending and saving , but don't teach
4:05them to just " be frugal " because they
4:07don't know what level qualifies as
4:09frugal .
4:11>> Mm .
4:12>> Right ? For example , as adults , we know
4:15that eating noodles instead of shabu
4:17for the same meal is called being
4:19frugal , but they don't have that life
4:21experience yet .
4:23>> Instead of just saying " be frugal , " we
4:26should teach them to " spend wisely . " We
4:31talked about it .
4:32>> Yes .
4:32>> At this age , I always talk to and teach
4:34parents that you should talk to your
4:36children a lot . If you talk to your
4:37children a lot from when they are young
4:39, as they grow up , they will talk to
4:40you about everything .
4:41>> Mm .
4:42>> They will choose you as the first
4:43person to talk to .
4:44>> Yes .
4:45>> So , talk to your kids . For example , it
4:47was a new learning experience when my
4:50child was in the 4th grade . I remember ,
4:53my child was in 4th grade , and suddenly
4:55, they asked to buy a phone .
4:57>> I asked , " What do you need a phone for ?
4:59"
4:59>> Right ? I pick them up every evening .
5:02And there has never been a day that I
5:03didn't show up . I thought maybe they
5:05wanted it for their grandmother , so
5:06what would they use it for ? They said
5:08they wanted it to play games with
5:10friends . Nowadays , there are games that
5:12you can join and play together in
5:13groups , right ?
5:14>> Um , they wanted to take photos . Okay ,
5:16okay , what else ? Take photos , what else
5:19? Play games , okay .
5:21>> You can probably guess what the coach
5:22would do .
5:23>> Then , I was surprised , doctor .
5:28>> I saw their friends holding iPhones and
5:30top-tier Galaxy phones , even in 4th
5:32grade . They probably had their heart
5:35set on getting something nice . We
5:38arrived and went into the shop . It was
5:41a mobile carrier shop . I said , " Look ,
5:44here’s this one for 1,990 . " With a 12
5:47- month contract . A flat rate for the
5:50whole year for 1,990 . This phone isn't
5:53junky at all , you know . But then we
5:55looked at the specs , oh , here , 4GB of
5:58RAM . I know enough to know that it can
6:00play games . The front camera , um ... Rear
6:03camera is 48 megapixels . Their face
6:05fell and they said , " Hey , why is it
6:07like this ? " " Why is it not what I
6:09expected ? " " It doesn't look like my
6:11friends ' phones . "
6:12>> The design didn't look as good as the
6:13others , so I told them ... "
6:15>> What are you going to use it for ? " " If
6:16you want to play games , this one plays
6:18them just as fast as your friends '
6:19phones . " " If you want to use it for
6:21photos ? " " This one might not take good
6:22photos at night . " " But at night , you
6:24won't be meeting anyone anyway , not
6:25even your friends . " " You only see them
6:26during the day . " " Therefore , it takes
6:28clear photos during the day . " " And do
6:29you know the best thing about this
6:31phone ? " " It's cheap . " " If you're walking
6:33somewhere today and someone runs up and
6:34steals your phone ... " " Just let them
6:36have it , dear , don't run after them . "
6:38It's dangerous , Dad is worried .
6:39>> Mm-hmm .
6:41>> Yeah , because if you carry expensive
6:43things , you'll feel regret if someone
6:45steals them or something happens . It's
6:47okay , kid , if it's lost , it's lost . Dad
6:49is worried about you , that's more
6:51important . So we can talk , we can talk
6:53about this , right ?
6:54>> It’s fine . And he gets to see his
6:56friend's phone and how smooth it is ,
6:58and this one is just as good , it plays
7:00just the same . So , we teach him to
7:03understand what to use and why .
7:05>> That's a very good example , wow , for ...
7:08>> Yes .
7:09>> Real-life situations where the kids
7:11realize , " Oh , the features are the same
7:13. "
7:13>> Yes .
7:14>> And it's cheaper .
7:15>> Yes , and it's the same with eating .
7:17I'll take my kids to eat street food ,
7:19at night markets .
7:20>> Yes .
7:21>> Sometimes when we order pizza , I show
7:23them that for the four of us , it costs
7:26about 1,000 .
7:27>> Yes .
7:28>> But when we eat street noodles , for the
7:30four of us , it's about 200 .
7:32>> Mm .
7:32>> It's not that you can't be extravagant ,
7:35kid , but it must not be beyond your
7:36means . If you have the purchasing power
7:38for pizza , you can buy it . There's
7:40nothing wrong with buying it because
7:42extravagance is happiness , but too much
7:44extravagance is beyond your means .
7:46>> Mm .
7:47>> So we teach them about spending like
7:48this since they are young . And I feel
7:50that parents should set an example . I
7:52notice I ask them , " Do you see what Dad
7:54eats the most in daily life ? " Dad
7:56thinks it's probably stir-fried basil .
7:57So , are you eating stir-fried basil ,
7:59kid ? That's just how life is , right ?
8:01There are delicious meals , and there
8:02are other kinds . As for the things you
8:04really want , just tell me . Sometimes ,
8:06for some items ...
8:07>> For a bag , buy a good one , because it
8:09lasts a long time , right ? Things like
8:11that . As for books , whenever you want
8:12to buy them , tell Dad , no limit .
8:14>> Mm .
8:15>> If you want to read books .
8:16>> Yes .
8:16>> If you want to buy even comics or
8:18whatever , just tell Dad . Dad might be
8:21the one to filter things a bit . So , we
8:23teach spending based on function ,
8:26necessity , and happiness .
8:27>> Which really , parents are the most
8:29important . Parents convey how we think
8:32when they buy something . Like you ,
8:33breaking it down into features . We sit
8:35and talk every time . We sit and talk
8:37every time . Whatever you want to ask
8:39for ... You come into the room . Buying
8:40headphones . Please , sit in the office .
8:43I have a chair for you .
8:44>> What is it , my child ?
8:45>> But we don't need to get emotional ;
8:47just listen to them directly . "
8:49>> Then let dad help you look , " we search
8:51for things together when we're going to
8:53buy something . That’s how it is .
8:55Regarding saving money , many parents
8:57get really serious about it , but at
8:59home , I teach it simply .
9:00>> Hmm .
9:01>> I give you money ; spend whatever you
9:03want , but don't spend it all — bring
9:04some back .
9:05>> Oh .
9:05>> There’s no rule that it must be 10 % or
9:0720 % ; just make sure there’s some left
9:09over .
9:10>> Uh-huh .
9:10>> If they ask why they have to have some
9:12left over ? I tell them it’s in case
9:14you want to save up one day to buy
9:15something that's a bit of a challenge
9:17for you . Like , if Dad won't buy it , you
9:19can buy it yourself . Don't teach kids
9:22to save money just because they might
9:23need it for emergencies in the future .
9:25Because their life experience isn't
9:27enough yet . They don't have enough to
9:29know what the dangers ahead might be .
9:31>> Uh .
9:31>> But let them save money to buy things
9:33for themselves .
9:33>> This really paints a clear picture .
9:35>> Yes , be proud .
9:36>> Wanting this or that .
9:38>> And when they buy something , absolutely
9:40do not interfere with them . I've taught
9:44this , but some parents still go and
9:46tell their kids to save up to buy
9:47things themselves . You could motivate
9:49them by saying if they save 5 baht ,
9:51you'll put in 5 baht , for instance . But
9:53when they choose what to buy , don't
9:55interfere .
9:56>> It's their money .
9:57>> This mother got very upset when she
9:58found out what her child broke their
10:00piggy bank for . It turns out they
10:02bought a 7,000 baht Korean concert
10:03ticket . They sent a message saying it
10:05was super fun and amazing . What were
10:07they thinking ? Something like that , you
10:09know ? Tell the mother not to interfere .
10:12The most frightening thing is when a
10:13child isn't trained to make decisions
10:15about money . It's their money , not the
10:18mother's . And it didn't come out of the
10:20mother's pocket . It's their money , and
10:22they worked hard saving it up until
10:24they could achieve this goal . The
10:26mother must praise them .
10:27>> Your only duty is to prepare to drive
10:29them to the concert and wait to drop
10:31them off and pick them up , that's all .
10:33And just say , " Wow , you're so smart for
10:35saving up to buy this , " and things like
10:37that . And we might need to tell them to
10:39enjoy the concert to the fullest and be
10:40happy . I went to the trouble of paying
10:42for this . Or if they finally save up
10:44enough and decide not to buy it ,
10:45that’s their right to choose .
10:47>> Oh .
10:47>> I mean , if we don't train children — I
10:49have to put it this way . Money isn't
10:51about knowledge . Money is about
10:52decision-making . Whatever they do with
10:54their money , you have to give them that
10:56right . And keep it in moderation .
10:58Because some parents , when teaching
10:59about saving , are like — When they see
11:01their kid not saving , they get all
11:02stressed out . I say , no , no . They might
11:05have their own reasons . So , you have to
11:06make home a place where you can talk
11:08about money . Uh-huh .
11:09>> Once they reach the high school level ,
11:11>> we start letting them practice managing
11:13money .
11:14>> By managing money , I mean giving them
11:16an allowance .
11:17>> It could be weekly or monthly . At my
11:20home , we have a rule of giving it
11:22weekly . But if it runs out before the
11:24week is up , we have to talk about it .
11:26There was one time my son went on a
11:28field trip to the Bank of Thailand .
11:31Then he bought some things he liked .
11:32And he bought them back . I asked , " Why
11:34did you buy so much ? " He said he bought
11:37them as souvenirs . He was being very
11:39kind and thoughtful . He used his
11:40allowance for souvenirs and then the
11:42money was gone . So we sat and talked ,
11:44and I said that thinking of others and
11:47buying gifts is okay , my child . But if
11:50it makes your own living money run out ,
11:52then that’s not right . Also , when
11:55will you actually have time to see
11:57those people you bought gifts for ? You
11:59have to think about that , too .
12:02>> It’s about opening the door so that
12:04whenever the money runs out , we can
12:05have a mature discussion .
12:07>> Uh-huh .
12:08>> At home , we joke with him , like , " Hey
12:10handsome , where did all your money go ? "
12:12Then we talk , and I might say , " I
12:14understand , okay , I'll top it up , " but
12:16there will be a lesson learned
12:18accordingly . And at the end of the week
12:20or month , you'll get the next allowance
12:22only when you submit your expense
12:23records , and Mom will be the one
12:25checking them . So on the 1st , they ask ,
12:27" Why hasn't Mom transferred the money ? "
12:29Well , she hasn't received the expense
12:31record yet ; she doesn't know what you
12:33spent your money on . Actually , we don't
12:35really interfere with them much , but
12:36it's a way to train them to pay a
12:38little attention to money matters .
12:39>> This is for middle schoolers .
12:41>> In middle school , we already started
12:42training them by giving them a weekly
12:44allowance .
12:44>> Uh-huh .
12:45>> But once they get to high school or
12:47university , we switch to a monthly
12:49allowance . Now , as for investing , that
12:52depends on their interest . You don't
12:54need to rush them . If they're
12:56interested in investing , we can
12:58gradually teach them . Some people
13:01follow my sons who have been investing
13:03in stocks since they were 9 and 7 years
13:06old . The two of them are now 16 and 18 ,
13:08right ? Back then , at 9 and 7 , they were
13:10already investing . But I always say ,
13:12don't rush them . The thing is , these
13:14two were " back-of-the-room " kids .
13:15>> Uh-huh .
13:16>> Wherever I went to give a talk , they'd
13:17just sit at the back , you know ? So
13:19they'd be like ... "
13:19>> Hey Dad , what is inflation ? " " Why does
13:21keeping money in the bank lose out to
13:22inflation ? " " Then why do we even deposit
13:24it ? " things like that . They would ask
13:25questions like that . I'd tell them , "
13:26Well , you still need to keep a portion
13:27in the bank . " " It needs to be there as
13:29an emergency fund . " " But if you have a
13:30surplus , then you can think about
13:31investing . " Therefore , I think it's
13:33really a matter of ... The starting point
13:35of learning is conversation . Whenever
13:37your child asks something , are we going
13:39to brush them off ?
13:40>> Or are we going to intentionally talk
13:42to them ?
13:42>> Yes .
13:43>> Many times I'd say , " Dad is working ,
13:45let's talk in a bit . " Once I'm done ,
13:47I'll go talk to them . It's a very
13:49formal invitation .
13:50>> We have an office at home . Everyone
13:54knows that if you're invited to Dad's
13:55office , it means there's something
13:57special that I've heard about . " Come
14:00sit down , son . What happened ? I heard
14:02this and that ... " but ...
14:04>> We want them to feel like this is a
14:05safe space . Because my wife and I
14:08agreed from the start that from the
14:10time we grew up until today , we admit
14:12that during our teenage years , it's
14:14undeniable that we encountered certain
14:16things . Looking back , we're lucky that
14:21some of those things didn't turn into
14:23disasters . But the recklessness of
14:25youth , the recklessness of people the
14:27same age , making decisions by
14:29consulting only friends ... with not much
14:31life experience at all , you know . It's
14:33something that when I look back , I feel
14:35that we were lucky that day .
14:37>> Yeah .
14:37>> We were lucky that day . We were lucky
14:39that day . So my wife and I set a goal
14:41that we would be the first people our
14:43child thinks of . To be the first person
14:46they think of to consult if there's
14:47anything . 2 They can talk to us about
14:49everything , right ? I like to tease him .
14:51My eldest son is now living in a dorm .
14:52He went away to study and is living in
14:54a dorm . I like to tease him . Like , " Hey
14:55, call Dad if you need anything . " " You
14:57remember Dad's number , right ? "
14:58Something like that . Just teasing him ,
15:00you know . So there will be things that
15:01... Uh , we ... We won't look at his
15:03questions as childish or anything like
15:04that . Right . Now he's at the age of ...
15:0718 . It all comes up . Like about
15:09registering for classes . " Dad , if I
15:11study this , what will happen ? " "
15:13>> Oh , nobody knows , my son . " " Dad studied
15:17engineering but ended up in finance . " "
15:20So , choose what you feel is fun and
15:22worth studying . " At ... that time , once
15:27you've studied it , some things you just
15:29have to leave to timing . Maybe . We
15:31don't know if it will really work out
15:33like that . Then topics like love start
15:36popping up . It makes me so happy , you
15:38know . When he asks for advice about
15:40love or something like that . Seeing how
15:44he handles it , I'm like , " Oh , my son . "
15:49>> It’s about having those talks , and I
15:50believe as parents , we feel happy when
15:52we feel we can talk about everything .
15:55>> Wow , I want to talk about this too ,
15:57Coach . Let's pivot to this because I
15:59think the audience is interested too .
16:01How do you get your child to talk to
16:03you about everything ?
16:04>> What do you think the secret is , Coach ?
16:06>> I've talked to my child since he was
16:08small , intentionally answering whenever
16:10he asks .
16:12>> For example . Uh , we have work on the
16:15weekends . We have to go out . I tell
16:19myself . I won't tell my child that I'm
16:21going out to make money for his tuition
16:23. I won't say that . That line doesn't
16:25work , right ? So , how is it about the
16:27money ? I'm not sure if it's more
16:28important than them .
16:29>> It says that .
16:32>> Dad goes to work because I want to
16:33create value and do good for others ,
16:35son . When we are capable enough , we
16:39must create value for others , right ? So
16:42, on days you can come along , I will
16:44take you . But today you can't , and Dad
16:46will be back as soon as possible . All
16:48of this comes from the fact that we
16:50talk to them , you know . And why if we
16:52lose a Saturday , we compensate with
16:54what we've already planned . I am
16:56someone who plans vacations a year in
16:58advance .
17:00>> Coach .
17:01>> Suppose if a secretary organizes events
17:03like this , if we don't block anything
17:04for them . Coach , you would be lecturing
17:06for 7 days a week , right ? But we lay it
17:08out and lock it in , boom , just like
17:10that . So , for my child's birthday , the
17:12area around the birthday is off-limits .
17:15We know that on their birthday , we'll
17:18take them on a trip , celebrate , or go
17:20abroad , so we lock the time . When the
17:23vacation time is locked in , it makes
17:26the secretary's job easier .
17:27>> Hmm .
17:28>> And then , bam .
17:30>> They can't dump work in .
17:32>> But if they dump work in first , it’ll
17:34be just one day , which might not be
17:36useful enough for us to .
17:38>> To do activities with the child enough ,
17:40you know . So , every time we go out or
17:42anything like that . We have time to
17:45exchange and say , " Hey . " If so , there
17:47will be weekdays where Dad will be
17:49there , at the school . Today I'll pick
17:51you up in the evening , let's go eat
17:53something , you know . So we try to
17:55arrange time to be like this always .
17:57Yeah . So , because we have time to talk .
18:00And every question they ask , we will be
18:02like .
18:02>> It means you must have time first .
18:04>> Yeah , having time is very important .
18:06And try to make that time quality time .
18:09We talk a lot . We play board games
18:11together . And sometimes there's what
18:14you call . On Sundays , Mom will take
18:17them out of the house to a cafe . And no
18:20mobile phones allowed . Everyone has one
18:22book each . Please sit and read while
18:24sipping your coffee , something like
18:26that . I feel that , uh , my child became
18:27a reader ever since then . Because how
18:29can we teach our children to read if we
18:31don't read ourselves ?
18:32>> Yeah .
18:32>> When we're free , instead of scrolling ,
18:34we say , " Hey , read a book , " but we have
18:36to do it too , right ? We read , so we can
18:39tell them to read .
18:40>> Yes , at home we have boxes — oh , that's
18:42cute , Mom — Mom will be the one
18:44enforcing , " Please place it right here .
18:46"
18:46>> Something like that , so , uh , as they
18:48grow up , they are trained that ...
18:50>> It's not actually that important . We
18:53don't need to know everything so
18:54urgently , you know ? There's a right
18:56time and place for things . Therefore ,
18:58it's about living life and spending
19:00time together . Being able to talk about
19:03everything . I never view anything they
19:05say as trivial . Yeah , there are no
19:06small issues . Because everything is a
19:08big deal to them , right ?
19:09>> For a child , everything is a big deal .
19:11>> Yes , exactly , like when they've chatted
19:13with a friend and they didn't reply .
19:15>> Yeah .
19:16>> Right ? Oh . There are many factors , my
19:18dear . It's possible , kid . Whatever you
19:20do , you get upset . Think carefully .
19:22Okay ? Right ? Or sometimes , your friend
19:24might just be being unreasonable .
19:25Sometimes it might just be ... It might
19:27not be our fault ... 100 % . Maybe . Don't
19:29take it to heart . Don't let it get to
19:30you too much . If you assess it and
19:31think ... " Huh ? " " I didn't do anything to
19:33make you angry . " " What is your problem ? "
19:34Uh . Or maybe ... Staying silent might
19:36actually solve some issues , dear .
19:37Silence . Just try it and see . What
19:39happens ? After that , the friend might
19:40chat back . Or something like that . And
19:42I say ... Yeah . Maybe they were just
19:43caught up with something . Or something
19:45like that . We have to respect them , you
19:46know . Teaching them about differing
19:48opinions from the start . Our house is
19:50very democratic . Eat whatever you want
19:51to eat . Support different football
19:53teams , that's fine .
19:54>> Yeah .
19:54>> Like , I'm a Man U fan , does my child
19:56have to be ? No , two of them are Chelsea
19:59and Arsenal fans .
20:00>> Whoever ...
20:01>> It's a very democratic home , you can
20:03choose whatever you want , so I feel
20:05that it's their life , and talking is
20:07likely the most important starting
20:08point .
20:10>> That’s important . Yeah , it’s really
20:13great that your child , even at this age
20:15, still talks to you like this .
20:17>> Ah .
20:18>> The secret is giving them time and
20:20listening when they speak .
20:21>> Yes , that’s right , and doing
20:23activities together too .
20:24>> Well , I think it’s probably similar
20:26to many others . When we live our lives ,
20:29there are bound to be good days and bad
20:31days . Uh , on the bad days , when we’re
20:33feeling down or whatever . Sometimes the
20:36feeling on the good days , you know . The
20:39family atmosphere . You feel like they
20:41... We feel that people should have a
20:42place to turn to when they need support
20:44, right ? Like , if this person isn't
20:46there , or that person isn't there ... Oh ,
20:47when they’re having fun ... Kids
20:48probably won't pay attention to us .
20:50They’re with their friends , having
20:52fun , posting on IG , see ? And their mom
20:54might get a bit upset , like , " Why don't
20:56you ever call ? " Uh ... As long as they
20:58think of us when they have problems ,
20:59that’s okay . They’re having fun ,
21:01they’re just being their age , right ?
21:03But the moment they think of us and
21:05give us a call , that’s it . That
21:07should be enough . So , people just need
21:09something to lean on when things go
21:10wrong . Uh , you don't have to be super
21:12talented . Because you don't necessarily
21:14have to be highly successful either . I
21:15tell them that , but you have to be
21:17happy . Hmm .
21:18>> That’s the secret to having your
21:19child talk to you all the time . Now ,
21:21let’s go back to the topic of money ,
21:23Coach . I just heard ...
21:25>> Khun Noom say that when we want to
21:27instill a good money mindset in
21:28children , talking about money is
21:30important too .
21:31>> And I heard Khun Noom say that we
21:32shouldn't say things like " I'm going
21:34out to earn money for your tuition . " So
21:36, what should we avoid saying or what
21:37should we say instead ?
21:39>> Actually , I have to say that parents
21:40don't need to be too tense . It's okay
21:43to make mistakes .
21:44>> Yeah .
21:44>> Even if you're wrong , you can apologize
21:46. I'm not made of stone either .
21:49Sometimes I have 108 things on my mind ,
21:52and I might react at the wrong time or
21:54snap at them , but as soon as I realize
21:56it , I go back and apologize .
21:58>> Hmm .
21:59>> I want them to feel that adults can
22:01apologize too . Like , " I'm sorry for
22:03earlier , son , " and then I'll hug them
22:06and say , " Earlier , Dad ... "
22:10>> I'm confused , I'm confused about
22:11everything , and then I apologize , and
22:13they understand that , you know , people
22:15have their moments of confusion , so
22:17don't be afraid of being right or wrong
22:19, but just try to communicate
22:21positively .
22:23>> Mm-hmm .
22:24>> In our house , we don't say — I’ve
22:26taught this since they were kids — we
22:27don't say that money is hard to earn ,
22:29because money is easy to earn , son .
22:31>> Mm , money is easy to earn .
22:32>> Money is easy to earn . It only becomes
22:35easy once you develop yourself ,
22:37becoming a person with the knowledge ,
22:39skills , and abilities . And those skills
22:42and abilities aren't just about
22:43learning anything , but things that can
22:45help other people .
22:46>> Mm-hmm .
22:48>> You're a doctor , right ?
22:50>> You can save people's lives , and that
22:52is something of extremely high value .
22:54So it's no surprise that doctors should
22:56have a high income . You're an artist or
22:59an actor , and people watch you and feel
23:01happy . Whatever suffering they had ,
23:03they see you and feel better . Some
23:05people aren't musicians who play
23:07incredibly difficult chords , but their
23:09music is beautiful , right ? Yeah ,
23:11listening to them makes people happy .
23:13Develop yourself into that kind of
23:15person , and the money will flow in on
23:17its own . Money is not the goal of life .
23:20It is simply a tool for living . There
23:23are some things in life that might not
23:25involve money at all . You don't have to
23:26think that everything you do must
23:28result in money , right ?
23:29>> Money isn't hard to get ; it's easy . The
23:31important question is ...
23:32>> Money is easy to get . ...
23:33>> how much can you help others with the
23:35skills and knowledge you have ?
23:36>> Mm-hmm .
23:37>> In our house , we don't use the word "
23:39hard " because ... ...
23:40>> for everything .
23:40>> Yes , because the word " hard " actually
23:42means it can still be done . Honestly , "
23:43hard " means it's still doable , right ?
23:45Right ? It just needs you to put in the
23:46energy and the effort . That's why I
23:48always say , " Hey , Dad really doesn't
23:50like the word ' hard ' . " Dad doesn't
23:51really like it , you know ? Yeah , that's
23:53what we teach . And another important
23:56thing we teach is that for people ... ...
23:57the hardest part of living life is
23:59making decisions .
24:00>> Mm-hmm .
24:03>> And the key to making decisions is
24:04understanding what the consequences
24:06will be , right ? So I tell them that I
24:10don't mind anything at all . It's okay
24:12if you aren't good at school . It’s
24:14okay if you don’t become the most
24:16successful person . But I ask for two
24:18things . There are only two things that ,
24:21if you cross the line , are very hard to
24:23fix . That is the law and morality .
24:26>> Yeah .
24:27>> If you break the law , how would you fix
24:29it ? It’s beyond my ability to help .
24:33If you fail an exam , we can study
24:35together , or talk to the teacher .
24:37That’s just a mistake .
24:39>> It’s a mistake , but those two things ,
24:41I ask of you . So whenever you think
24:45about doing things , like going to a
24:47music competition and fearing you might
24:49mess up , so what ?
24:51>> It’s okay to mess up . If you mess up
24:53and people don’t cheer for you . It
24:55just means you aren’t good enough yet
24:56. You just need a little more . It’s
24:58good to know the truth . You will be
24:59able to improve yourself . Yeah . If you
25:01compete and lose , or get teased and
25:03embarrassed . It’s still better than
25:04someone who has never done anything .
25:06And it’s like , yeah . Therefore .
25:07>> Uh .
25:08>> How far can it go ? Yeah . If you can
25:10understand that , then there is nothing
25:12to fear . This world , I don’t think
25:14there is anything scary . But those two
25:15things are very scary . Once you break
25:17moral codes or the law , you can’t fix
25:19it , my child . It’s already done . So
25:21I’d say anything else is fine . I want
25:23our home to not need warnings about
25:25drugs . About gambling . About things
25:27like that . We know we don’t need to
25:29teach it because it’s the law , yeah .
25:31And every time there’s a case on TV
25:33like that . We sit and talk to them ,
25:35saying , " Hmm , a case like this is
25:37actually easy to fix . " Which is just
25:39not doing it from the start .
25:40>> Yeah .
25:41>> It’s the simplest thing , my child . So
25:43we pick up things around us to talk
25:45about . Or sometimes people come to us
25:46for advice . Sometimes he sits and
25:48listens . But he will sit and listen
25:50quietly . Yes . When listening to the
25:52person tell their story . But once
25:53it’s over , he will ask . Hmm . " Why did
25:55you decide to do that ? " Or even ask
25:57questions like . " Why do people get into
26:00debt ? " " When they already know that debt
26:02makes life difficult . " And I will tell
26:04him , " Because you don’t understand
26:06yet . " You're not yet at an age where
26:07you have to bear burdens .
26:09>> Mm .
26:09>> When you have to bear burdens , you'll
26:11know that everyone has reasons , even
26:13for doing bad things . I mean , they
26:14still have their reasons . It's just
26:16that some reasons might not be enough .
26:18If we say we did something , like
26:20getting into debt , that’s
26:21understandable . But if we talk about
26:23doing something serious , even with a
26:25reason , it might not be enough . But
26:27they have their own reasons . Yeah , it's
26:28better to try to understand people .
26:30I'll try to talk like this .
26:32>> Mm .
26:32>> So , don't be afraid of teaching them
26:34wrong , just adjust as you go ; the heart
26:37of it is that 80 % of children learn
26:39about money from their parents .
26:41>> Mm .
26:42>> If you ask what's the best way to teach
26:44kids about money . Be a role model ,
26:47that's number one . But I've also found
26:50that some parents are role models
26:52already . But they don't dare to talk to
26:54their kids . Don't dare to warn them .
26:56Afraid the child will be upset , things
26:58like that . Recently , there was a case
27:00sent in asking about a child who wants
27:02tutoring but there’s no money .
27:05Telling me how to handle it . Yeah ,
27:06saying they're afraid the child will be
27:08sad . No. To be born human , you must
27:11know sadness , right ? It’s part of
27:12being human . If you don't understand
27:14sadness , you can't survive , right ? So ,
27:17tell them .
27:17>> But don't use the phrase " Mom and Dad
27:19have no money . "
27:20>> They will feel like this is a problem .
27:23Tell them , " How much is the tuition ,
27:25dear ? " Let them list everything they
27:27want to study . One . Two . Three . Four .
27:30How much is each course ? If you really
27:32have to study . Suppose I let you choose
27:34one . One . First . What do you think is
27:37most important ? And what do you need to
27:38study ? What do you think you're weakest
27:40in , or want to supplement the most ?
27:41Letting you choose just . One . Subject .
27:43Explain it like this , dear . We have
27:45enough money . But our family has a
27:48financial plan . Try to imprint this in
27:51their mind : using money requires a plan
27:53. Uh-huh .
27:56>> Our family has necessary expenses . One .
27:58Two . Three . Which mom and dad have
28:01reviewed and can spare for you . But
28:03maybe not for all . Four . Subjects at
28:05once . Try choosing just one subject .
28:07And the other . Three . Parents are aware
28:10of this subject . And we will try to
28:12plan our finances for our child's
28:14education . 3 of those .
28:16>> Mm .
28:18>> I don't think it's hard to teach .
28:20>> What if a family can't manage all four
28:22financial plans , P'Num ? What should
28:24they do ?
28:26>> Well , I think if that’s the case ,
28:27they might not even be asking me in the
28:29first place . Because they’re not even
28:32taking care of themselves , right ? But ,
28:35if your own finances aren't great , and
28:37you really want to support your child ,
28:39you can discuss which one is the most
28:41important . Then , we start saving for
28:43the child's education .
28:46>> Because I see it a lot , P'Num , people
28:48who aren't in a great financial
28:49position , but once they have a child ,
28:53>> they spend everything on them until
28:55their own situation gets even worse .
28:56>> Mm .
28:58>> How should these parents adjust their
29:00mindset , or how should they communicate
29:02with their child in such cases ?
29:04>> They must adjust their mindset , because
29:06all that debt will eventually come back
29:07to the child .
29:08>> Mm .
29:08>> When they graduate , you won't be able
29:10to pay . They won't be able to stand
29:11seeing you suffer . Everything will end
29:13up circling back to them . So , regarding
29:14what you say about loving them , you
29:16know . Let me share a case study with
29:18you . I went to run a debt resolution
29:19project at Rayong Hospital . There was a
29:22staff member there . Who came to consult
29:23about the debt resolution project . I
29:25told them that if you want to enter the
29:27debt resolution project , I have one
29:29condition . Anyone who joins my debt
29:31resolution project , before we resolve
29:32the debt , you must set up an account by
29:34deducting from your salary , 500 . Every
29:36month . They said , " I don't even have
29:38enough money to spend , how can I deduct
29:39it ? " " Why deduct it ? " I said , " Well ,
29:41then I can't help you . " " If that's the
29:43case , I won't help . " Because I said as
29:45soon as the salary comes in , 500 .
29:46Deduct it . If you're already struggling
29:48today , 500 won't change your life that
29:50much . But we deduct it to save first ,
29:52so you save before you spend . In this
29:54project , I went there 6 times in total .
29:57After that , there was a follow-up for
29:58another 6 months . So , it's 1 year . This
30:01person took about 6 months to resolve
30:02their debt . They’re not debt-free yet
30:04, but their cash flow is no longer
30:06negative . What’s heartwarming is that
30:08after one year , we closed the project
30:10and returned the accounts to everyone .
30:13The account linked to their salary —
30:15every time they got paid , it would
30:17deposit 6,000 into their savings
30:18account . They said in their entire life
30:21, they had never been able to save
30:23money before . I said , " Congratulations !
30:25That is exactly how saving money works .
30:27" Sometimes it’s simple : money you
30:29don't see is money you don't spend .
30:30>> So , deduct it first , and then we can
30:32figure out how to manage the rest .
30:34>> When people don't save , they lose their
30:36motivation . A month later , they sent me
30:38a message . They said whenever they were
30:41out selling goods , their child would
30:42come to help . And every so often , the
30:44child would just slip away . They would
30:46go follow and look for their child . It
30:48turned out the child was standing in
30:50front of a tutoring center .
30:51>> Yeah .
30:51>> The child wanted to study architecture
30:53and was already in 11th grade . But they
30:55had never been able to afford classes .
30:57And they did the same thing every time ,
30:59which was hugging their child . And
31:01saying , " Mom has money now , I'll let
31:03you take the class . " It turned out that
31:05the 6,000 they had saved
31:07unintentionally ... They said , " I used
31:09all 6,000 at once , Coach , I hope you're
31:11not mad . " I told them , " It's your money
31:13, not mine , why would I be mad ? " " And
31:15what did you use it for ? " They said , "
31:17For my child's tuition . " " Okay . "
31:19That’s exactly why we save money . To
31:22fulfill the things that we really need
31:24to address . And , uh ...
31:27>> Uh , the child got to study , I think it
31:29was a drawing class , because
31:30architecture requires a drawing exam .
31:33One year later , they sent me a message
31:35saying their child got in . Life is just
31:37like this . If we stay stuck in the
31:41habit of saying , " This is all Mom can
31:43do , kid , " it might sound harsh . We
31:47brought them into this world , you know ?
31:49If we are going to do something for
31:51them , especially for something truly
31:53necessary . I think it’s worth
31:54fighting for . Being patient and
31:56struggling a little bit for it . Truth
31:57is , if they hadn't been able to study ,
31:59the child wouldn't have been mad either
32:00. Your child might ask themselves why
32:02they can't study like others . But that
32:04little bit of extra effort from you is
32:05worth more than 500 baht . For many
32:07people , 500 baht might not seem like a
32:10huge amount . It’s gone in a flash in
32:12just one day , right ? But this is where
32:14the change happens . Are you ready to be
32:16that kind of parent ? I believe everyone
32:17can do it .
32:18>> Yeah .
32:19>> Right ? And let them learn how to wait
32:21sometimes . But don't just make them
32:23wait without you working to solve the
32:25problem . If you tell them to wait and
32:29then eventually meet their needs ,
32:31you're a superhero . You keep your word ,
32:35right ? You are a very heroic parent .
32:37Your word is your bond . We should all
32:40be like that . At home , we say if we
32:41can't give something to our child yet ,
32:43we don't promise it .
32:45>> But if we do promise , we have to keep
32:47it because we know how important
32:48promises are to them .
32:51>> Exactly , you just need to level up your
32:53mental strength a bit more .
32:55>> We were just talking about expenses
32:57earlier .
32:57>> Uh-huh .
32:58>> Talking about kids saving money .
33:01>> And I just heard the coach mention
33:03investing for kids too .
33:05>> Yes .
33:07>> What's a good way to start ? Suppose our
33:10child knows how to save and manage
33:11their own budget .
33:13>> Uh .
33:15>> How should we instill the idea of
33:17investing , or what steps should we
33:18start with when talking to them ?
33:21>> Well , if they've started saving , we can
33:23gradually take a step forward . For kids
33:25, I’d suggest moving into government
33:27savings bonds first to give them a
33:29chance at winning prizes .
33:31>> Oh , that's very exciting .
33:32>> Yes , tell them that maybe they'll win a
33:35prize . Tell them this is better than
33:36the lottery , dear . If you don't win the
33:38lottery , the money is gone , but this
33:40way you still keep your savings . Or
33:42these days , there's gold savings plans ,
33:44you know , with a minimum of just 100
33:46baht . We can teach them to store their
33:49wealth in valuable assets . But you
33:51might need to open the account in a
33:53parent's name first , since kids can't
33:55open accounts until they are 18 or 20 .
33:57If they aren't of age yet , just use our
33:59account . And gradually teach them , well
34:01, we ourselves also have to study to a
34:03certain extent . Because just sending
34:05them to learn from others , you know .
34:06When you send them to learn from others
34:07for like two days . What , what are they
34:09going to get ? They come back the same
34:10as before . But if they are with parents
34:12who know how to invest , like with our
34:14son , we teach him to save money anyway .
34:16>> Yes .
34:17>> Right , once we teach him to save money ,
34:19at that point , we give him actual cash ;
34:22we don't do any transfers . Once he gets
34:24about 1,000 , we take him to deposit the
34:27money , take him to deposit the money . I
34:29mean , we have to feel that we aren't
34:31wasting time with these activities . Let
34:32him deposit the money , let him try
34:34writing it himself because at seven , he
34:36can write , so let him fill out the
34:37deposit slip himself . When he updates
34:39his passbook , that's when we start
34:41teaching , saying , " Look , there's more
34:43money added , do you see , from when you
34:45deposited ? " Right ? August , do you see ,
34:47son ? He says he sees it . Because we
34:49tell him , what is it ? It's interest .
34:51How is interest calculated ? If you
34:53deposit money with Dad , imagine Dad is
34:55a bank , you deposit 100 with Dad , and
34:57after one year , Dad will give you 50
35:00satang .
35:00>> Mmh . "
35:03>> Why is it so little ? " Well , interest is
35:06set this way because they keep the
35:08money safe for us , right ? So they give
35:12a small return . Then he asks , " Is there
35:15a way to get more than this ? "
35:17>> Uh-huh .
35:18>> You have to remember , son , that if you
35:19want more than this , the risk becomes
35:21higher .
35:21>> Mmh .
35:22>> Well , he won't understand it ;
35:23explaining risk to a nine-year-old ,
35:24they wouldn't know anything , right ? But
35:26let him understand , let this word be
35:27imprinted in his mind first . " So what
35:29can we do ? " I then say , " Look over at
35:31the bank . " " This bank , son , if we are
35:35the owners , we will also get dividends .
35:37" " And when the bank's price goes up , we
35:41gain , too . " " So how do we invest ? " I
35:45tell him this bank is 3 baht . This bank
35:48is 3 baht . But we call it , we tell him
35:50that the bank price is 3 baht . But they
35:52won't let us buy just 3 baht . They
35:53require a minimum purchase of 100
35:55shares . 3 times 100 is 300 . " If we have
35:58300 baht , August , if you have 300 , you
36:00can be an owner . "
36:01>> Mmh .
36:03>> Wow , there are thousands , so we can be
36:06owners . Anything else ? Oh , there's a
36:09hospital for 20 baht . Yes , 20 baht for
36:12a hospital , and a real estate company
36:15for 13 baht . Wow , not expensive !
36:17>> Yeah .
36:18>> He wanted to own everything .
36:19>> He wanted to own everything . And as we
36:21were talking , I asked , " If August owns
36:23the bank , what does that make the
36:24people sitting inside ? " They're your
36:26subordinates .
36:28>> Because we are the owners , right ? They
36:30work there , right ? Many people use
36:32their services . You need to know where
36:34people go to get services .
36:35>> Yeah .
36:36>> Right ? From then on , he started
36:37training . I didn't care at all if he
36:39invested right or wrong . I just wanted
36:40him to start having fun . When he goes
36:42to the mall . He started looking . " Dad ,
36:44we use vegetable oil all the time . " "
36:47Which one sells well ? " " Let's go look at
36:50the shelves . " Go look at the shelves .
36:52Check which ones are running low . The
36:54ones that are full , you know ? Maybe try
36:56interviewing the staff , can we ask them
36:58? " Hey , excuse me ... " The staff who
37:00stocks the shelves . Just ask them , " Is
37:02it full because it hasn't sold , or
37:03because you just restocked it ? "
37:05>> Yeah .
37:06>> They said they restock non-stop . They
37:08restock twice a day , so grab that one .
37:11And how do we buy this brand ? Look at
37:12the back to see what the name is . Write
37:14it down and put it into Google . Type in
37:16" what is the ticker symbol for this
37:18stock . " Some things you have to teach
37:20them to memorize . Once you find it , if
37:22it's there , buy it . Then place the
37:24order .
37:25>> Yeah , just take it slow , adjust , and
37:27invest like that . But I don't add money
37:30for him ; he has to use his own money .
37:32>> Use his own money .
37:34>> When it's time for dividends , they send
37:36a report . He's still using my portfolio
37:38, but I opened a separate one for him ,
37:40and when I showed him the dividends , he
37:42said , " Wow ! " "
37:43>> That's way more ! " Currently , the annual
37:45dividends aren't much , maybe close to
37:4720,000 .
37:48>> Wow , oh !
37:49>> Yeah , the portfolio has about 200,000
37:51plus . So I tell him , " See son , this is
37:53how investing works . " He's starting to
37:55understand .
37:56>> Uh-huh .
37:57>> He's not at a very risky age yet
37:58because his other life needs are
38:00supported by his parents , right ? But
38:03once he understands this , he will start
38:05saving money ; he'll have money left
38:06over to save .
38:07>> Yes , because they see the money growing
38:09, something like that .
38:11>> Then one day , he said , " Dad , my son is
38:1318 now , August wants to go watch
38:15football in England . " I said no , I
38:19won't pay , I won't pay . I told him to
38:22build his own portfolio , adjust it , and
38:24fight to make it grow . If the portfolio
38:28is a million , 7 % is 70,000 .
38:30>> What does P'Num pay for , and what does
38:32he not pay for ?
38:33>> Well , for daily life like eating ,
38:35nowadays if he has an allowance , he
38:37picks up his phone and what does he do ?
38:39Bubble tea . Hmm , if I don't want it , he
38:41has to pay for it himself because I
38:43didn't want to eat it . Why ? Because it
38:45would cost us money , right ? He's grown
38:47up now and has his own money , so he
38:48needs to learn to spend it himself .
38:50Sometimes , when he sees me about to
38:51order , he tries to sneak in . But if he
38:53wants to order it himself and I don't
38:54want to eat it , he has to pay . So , for
38:56education and accommodation , we still
38:59take care of him , right ? And for his
39:02monthly allowance , there's actually a
39:04funny story about that . Being the son
39:07of " Coach Num , " he listens and
39:09understands that we should manage our
39:11money . 50 30
39:12>> Hmm .
39:13>> 50-30-20 . If you earn 100 , you have to
39:17spend 50 on necessities , 30 on wants ,
39:19and save 20 .
39:22>> Hmm .
39:23>> When he started his freshman year and
39:25had to move into a dorm , he calculated
39:27everything and asked his mom for a
39:2910,000 baht monthly allowance . His mom
39:32asked , " Where did you get that number
39:34from ? 10,000 ? " He only stays there from
39:37Monday to Friday and comes home on
39:39weekends . August wanted to save 2,000 a
39:43month , so he applied the 50-30-20 rule .
39:46He'd spend 5,000 on necessities , 3,000
39:49on wants , and save 2,000 .
39:52>> Hmm .
39:53>> His mom told him his equation was wrong
39:55because she was only giving him 6,000 ,
39:57and he had to manage that himself . So ,
40:0020 % of 6,000 is 1,200 ; that's all he
40:03could save . That's how it is .
40:05>> That's all it could be . He set a target
40:08to save 2,000 , so he tried to adjust
40:10his income figures . But Mom only gave
40:12him 6,000 . That's the origin story of
40:15how we have to teach him to manage his
40:17own finances .
40:18>> Coach , what if the parents are in a
40:20situation where we have 100 million in
40:22debt ?
40:23>> Hmm .
40:24>> Should we tell the kids ?
40:26>> Actually , whether you have money or
40:28don't , you can talk to your children
40:30about it .
40:31>> Oh .
40:32>> You just don't have to tell them
40:33exactly how much there is ; my kids
40:35right now don't know either .
40:37>> And we just use the method of talking
40:39to each other . Don't give the
40:41impression that because we have money ,
40:42they can just spend it however they
40:44want . It’s a lesson that whether you
40:48have a lot or a little , you always have
40:50to plan before you spend . We tell them
40:54like this .
40:55>> The keyword is that money must be
40:56planned .
40:56>> Yes , money is a matter that always
40:58requires planning . It's not about
41:00spending on whatever you want or being
41:02extravagant . I actually feel that it
41:05affects other aspects of life as well .
41:08They might end up not thinking things
41:09through . Therefore , we can talk to them
41:11about it . Families with debt have
41:13consulted me , asking if they can tell
41:14their children . You don't need to tell
41:16them exactly how much debt you have .
41:18But you can say that our family
41:19finances are a bit tight right now . And
41:22ask how they can help out instead . We
41:24can communicate that , if possible . Mom
41:27might not be able to increase your
41:29allowance right now , sorry about that .
41:32Something like that . I don't feel like
41:33that’s a failure at all . And you want
41:35to ask for their help . If possible , try
41:38to save up a little bit too . If there
41:40are things they can handle on their own
41:42. I would really appreciate that . You
41:44can talk about everything .
41:45>> Mmhmm .
41:46>> Yeah .
41:46>> I can really see that picture now .
41:48>> Having a lot of money doesn't mean you
41:50can buy whatever you want . These days ,
41:53even for things worth a few hundred ,
41:55they still come and ask . Even though
41:57they have their own money . We talk
41:59about it because they aren't really
42:00asking for permission , but rather
42:02wanting to consult me .
42:03>> Is this worth buying ?
42:06>> We talk about whether it will last a
42:08long time , or if it's okay to spend a
42:10bit more because it's better quality ,
42:12not disposable , or worth trying out .
42:16>> It’s not just about being cheap or
42:17expensive , it’s about whether it’s
42:18worth it .
42:19>> Oh , right , right .
42:20>> Some things might be a bit pricey , but
42:22they last longer .
42:23>> Uh-huh .
42:24>> And they have more features .
42:25>> Oh , this was so useful today , Coach .
42:28These mindset methods .
42:30>> Thinking about money for children ,
42:32including how to spend , how to invest ,
42:34and how to manage their finances .
42:37>> Finances require planning .
42:39>> Yes , you have to think before you spend
42:42, and I also got some useful tips on
42:44how to keep your 18 - year-old child
42:46still talking to you about everything .
42:49>> That's wonderful .
42:50>> Yes , my pleasure .
42:52>> Well , thank you so much , Coach , for
42:54honoring our show today . Please tell us
42:58a bit about what you are currently
43:00working on and where parents can follow
43:02you .
43:03>> Yes , you can follow me on The Money
43:05Coach YouTube channel . For parents who
43:08have children in high school . I'd like
43:10to suggest the Money 14 course . I
43:13designed the curriculum to teach
43:15personal finance to high school
43:17students . And there is a big event
43:19coming up . It is on October 10th , the
43:22Money Freedom Forum 2026 . It will be
43:24held at ICONSIAM . However , tickets for
43:27the venue are sold out . But there is
43:29another type of ticket called a live
43:30stream . You can purchase tickets to
43:32watch the event live from home . I hope
43:35you'll check it out .
43:37>> Thank you so much again , Coach . Goodbye
43:39.
43:41>> And thank you all for following the " To
43:43Ma Ngai " show . If you liked this
43:47episode , please follow us , subscribe ,
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