AOA 017: The Importance of Intentionality in Raising Money-Smart Kids – With Guest Kelsa Dickey

“The best way for kids to learn about money is to put it in their hands
and allow them to practice with it.”

-Kelsa Dickey

During this episode of The Art of Allowance Podcast, I chat with Kelsa Dickey. Kelsa is the founder of Fiscal Fitness Phoenix, an Arizona-based company offering financial coaching services. She wears numerous hats besides financial coach, however, including wife, mother, movie and wine lover, goal achiever and podcast co-host.

Interested in learning how to approach relatives who may be spoiling your children? Then this episode (especially the section beginning at 35:06) is for you!

SHOW NOTES (Find what’s most interesting to you)

  • How Kelsa became a financial coach in middle school [2:02]
  • Incorporating the money conversation into life with toddlers [4:34]
  • Starting the value-based money conversation early [8:04]
  • Respecting and safeguarding money [10:29]
  • Different money personalities [11:38]
  • Kelsa’s uncertainty about how to address money with her children when they’re older: a lesson on flexibility [12:26]
  • Thoughts on allowance, value-based decision making and money skills [13:47]
  • Allowance obstacles [17:30]
  • The importance of engaging in money conversations with your partner in front of your kids [20:31]
  • The negative connotation of the word “budget” [21:38]
  • The positive money influence of Kelsa’s “tough love” grandfather [22:48]
  • The importance of the word “no” [25:35]
  • How Kelsa realized that “Personal finance is personal.” [26:42]
  • How Kelsa’s quarter-life crisis led to her financial coaching career [27:51]
  • Allowance structure and budgeting [31:02]
  • What the term “money-empowered” means to Kelsa [33:58]
  • Books and reading as investments [34:30]
  • Grandparent privilege: a case study [35:06]
  • Marshall Rosenberg’s concept of Nonviolent Communication [40:32]
  • A brief summary of The 5 Love Languages by Gary Chapman [43:10]
  • Being intentional with your money [44:27]
  • Chip and Dan Heath’s The Power of Moments and creating memories [45:04]
  • Finding Kelsa on social media (Fiscal Fitness Phoenix) and via her podcast (“The Saver and the Spender”) [46:01]

Looking for a strategy to impart your family values through an allowance system? Then I think you’d enjoy my discussion with Tom Henske, a New York City Certified Financial Planner and Financial Advisor who offers great advice about how to use matching to teach children the money values you want them to learn. This section begins at 31:00.

Want to hear more about money shame? Then you should listen to my episode featuring mom Melissa Disharoon. (Skip to 45:08 for this section.)

The Art of Allowance podcast is available on iTunesSpotifyStitcher or Radio Public.

Please subscribe to our show to allow me to have additional conversations with parents and discover new ideas to help us all raise money-smart, money-empowered kids. You can find out more about our movement at as well as download a sample or get a copy of my new book, The Art of Allowance.

You might also want to check out The Money Mammals, our program to get your children excited about money smarts when they’re young. Until next time, I wish you and your family well as you journey forth. Thanks for listening.