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Speaker 1: Really really interested in this one. Foxheld to Night eight

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Speaker 1: thirty Scott Pape's money movement. Now he is on a

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Speaker 1: mission to help Bossie school kids learn practical money skills.

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Speaker 1: It's a three part documentary series and he joins us

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Speaker 1: now Scotty paste bad.

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Speaker 2: Money, Scotty.

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Speaker 3: What's interesting is you talk about investing in the kids

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Speaker 3: and off here you were just saying you should buy

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Speaker 3: a boat and a race horse.

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Speaker 2: Which I felt it a little bit conflicting. Oad coin.

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Speaker 3: Can you tell me though, when it's in the paper

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Speaker 3: this morning, Smart Daily and your Daily Telegraph, you've got

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Speaker 3: the smileest s blurge in the give. Can you explain

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Speaker 3: that to us?

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Speaker 4: So basically what it is is kids have no reference

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Speaker 4: about money. So what we want to do, and this

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Speaker 4: is what I do in primary schools. He's going and

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Speaker 4: get kids to actually work, so to develop that link

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Speaker 4: between I get out of bed and I do something

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Speaker 4: and I get paid.

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Speaker 2: So that's the first thing.

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Speaker 4: You would be amazed at the thirty five year olds

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Speaker 4: that I meet that haven't made that link between working

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Speaker 4: and getting paid. Sure, then we have three jars and

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Speaker 4: what we're doing is each one of them.

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Speaker 2: It's not really about the money. It's trying to teach

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Speaker 2: a value or a behavior.

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Speaker 4: So splurge, right, we want to spend some money because

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Speaker 4: no one likes tight ass.

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Speaker 1: No.

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Speaker 2: I have a lot of parents. Go a little timmy,

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Speaker 2: he doesn't spend anything.

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Speaker 4: I'm like, that's cute now, but when he's twenty eight,

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Speaker 4: no one's going.

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Speaker 2: To want to make out with.

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Speaker 4: So it's good to spend money. Smiley is save up

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Speaker 4: for something that makes you smile. Pretty self explanatory.

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Speaker 2: And then give.

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Speaker 4: It's about understanding that if your parents are doing this,

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Speaker 4: or if you've actually got some money, you're actually doing

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Speaker 4: all right. So getting them to help out people in

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Speaker 4: their community. I did this in Harvey Bay and a

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Speaker 4: bunch of seven and eight year olds decided that for

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Speaker 4: their class gif jar they would feed thirty five homeless

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Speaker 4: people in their community because they don't have breakfast. So

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Speaker 4: you know, again, it just sort of helps you raise

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Speaker 4: not helps you not raise a sport brat.

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Speaker 2: If they're kind and they're hard working. As parents, we've

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Speaker 2: done our job right.

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Speaker 3: So you're putting the coins into the particular jars because

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Speaker 3: you're not handing over say two dollars, and then they

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Speaker 3: just go and put it into the splurge jar instead

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Speaker 3: of the give jar.

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Speaker 4: There is one golden rule in my family, and that

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Speaker 4: is that each jar has to get something. Now, if

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Speaker 4: my sons are really trying to be saving up for something,

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Speaker 4: some footy memorabilia or something, they will actually put most

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Speaker 4: of it in splurge.

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Speaker 2: But the rule is each jar has to get at

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Speaker 2: least one.

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Speaker 5: So there isn't a jar that's like a long term save.

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Speaker 5: That's too soon to put that on a kid.

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Speaker 1: No.

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Speaker 2: I think smile is good.

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Speaker 4: Like we're going away, so the kids have been saving

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Speaker 4: for stuff there, so you want to actually get them

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Speaker 4: to save up and buy something. But it's not like

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Speaker 4: a house deposit that's a little bit hard on your kids.

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Speaker 4: You want to make it short enough so that they

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Speaker 4: get the feeling that they're actually, hey, I've actually achieved something.

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Speaker 1: What is the response being from the schools, Because Scotty

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Speaker 1: I totally agree with this, and I mean we're growing up.

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Speaker 1: We did home economics. I mean we learn about sewing,

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Speaker 1: but you know, finance and money.

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Speaker 3: No one talks about it.

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Speaker 2: I think is a no brainer. Are you getting a

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Speaker 2: good response from schools?

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Speaker 1: No?

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Speaker 2: Really? Well, I mean with the schools that I'm doing

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Speaker 2: it in.

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Speaker 4: I am, But you know, my view is it's the

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Speaker 4: one subject that every kid is going to be tested

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Speaker 4: on every day of their lives. But we just don't

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Speaker 4: seem to spend a lot of time doing Who do

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Speaker 4: you need to.

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Speaker 2: Target, Scott, Is it the government to get behind this.

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Speaker 4: Or state governments all around the country? New South Wales

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Speaker 4: of announce that they're on board, which is great. I'm

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Speaker 4: still struggling with a lot of.

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Speaker 3: Fields with different emerging sectors as well. I think it's

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Speaker 3: important that people understand decision making. So if you've got

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Speaker 3: a broader overview, I think once you start to win

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Speaker 3: an incompany, you've left school, understanding how to spend that

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Speaker 3: money and where to invest it and how you make

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Speaker 3: those decisions is the crucial thing.

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Speaker 4: Yeah, I mean one of the things that I get

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Speaker 4: is that parents say they're teenagers, they're lazy, they have

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Speaker 4: no idea about money, you know, they waste it all

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Speaker 4: and then guess what, it becomes a self fulfilling prophecy.

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Speaker 2: So what I'm trying to do with my.

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Speaker 4: Little school program with teenagers is to get them to

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Speaker 4: get a part time job, save up something.

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Speaker 2: Don't care if it's tattoo, don't care.

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Speaker 4: Just want you to actually win with money, so that

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Speaker 4: when you graduate and you've got all the sharks trying

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Speaker 4: to get you in debt, you can say, actually, I'm

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Speaker 4: really good with money.

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Speaker 2: That's kind of my deal. I'm not getting paid for it.

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Speaker 2: It's a volunteer thing. I'm just really passionate about it.

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Speaker 5: How do you go about educating parents though, because for

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Speaker 5: me growing up, we were told, and my grandfather used

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Speaker 5: to say it, ten percent of everything you earn put

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Speaker 5: in a savings account.

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Speaker 2: So that's what you learn at home.

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Speaker 5: It's great to get into schools, absolutely, but parents need

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Speaker 5: to get on board a bit too. They can't just

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Speaker 5: be without responsibility and teaching this stuff.

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Speaker 2: Yeah, I completely agree.

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Speaker 4: I mean, so my view is that, especially with the

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Speaker 4: primary school kids, I started with sort of you know,

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Speaker 4: first couple of years of primary school because that's when

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Speaker 4: parents are actually really engaged with their kids. And what

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Speaker 4: it was was the kids actually go home and teach

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Speaker 4: the parents how to do pocket money.

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Speaker 1: Wow.

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Speaker 3: Can we get back to what Sarah said, I mean,

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Speaker 3: if you take your monthly wage, how do you see

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Speaker 3: the average broken down in what you should be doing

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Speaker 3: these days.

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Speaker 4: Well, I mean, I guess it depends on on targets

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Speaker 4: and on how much you're earning. But I have buckets

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Speaker 4: that I set up, and I did that with high

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Speaker 4: school kids, and it's that idea of what would it

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Speaker 4: be like if someone sat down with you.

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Speaker 2: You're never more interested in the first week you get paid.

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Speaker 2: So I set them up.

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Speaker 4: We'll do our little buckets and then they get saving

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Speaker 4: for something. And the idea is that if they get

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Speaker 4: that confidence up, they're less likely to fall into the

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Speaker 4: after pay credit card traps when they turnate in.

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Speaker 1: Right, you're just saying you're going away on a family trip.

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Speaker 1: Now you've got four children under the age of eight.

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Speaker 2: Yes, what are you doing?

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Speaker 4: This could be the most expensive holiday of my life

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Speaker 4: because I may get divorced win a baygo and so

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Speaker 4: the four kids and my wife, So the six of

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Speaker 4: us are heading from Melbourne right up to the Dangery,

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Speaker 4: so about three thousand kilometers and then back.

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Speaker 2: And how younger Scotty six month good luck?

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Speaker 4: Yeah, So you may see the winter bago maybe on

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Speaker 4: the side of the road, and I might just head

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Speaker 4: to the nearest.

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Speaker 3: So you are looking to release a book on divorce settlement.

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Speaker 2: Yeah, you never know. Family Court, Scotty.

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Speaker 1: You're you're very recognizable in Australia now and we we

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Speaker 1: read your piece every Sunday and the Sunday Telegraph here

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Speaker 1: in New South Wales.

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Speaker 2: It's true that you were.

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Speaker 1: Doing a signing the other day and someone came up

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Speaker 1: to you with a cookbook.

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Speaker 4: Yes, yes, she's like, she's like, I love your chicken

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Speaker 4: katcha Tory.

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Speaker 2: I'm like, it's a different book. I'll claim it a

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Speaker 2: different Tell everyone what book it was. It was there,

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Speaker 2: It was Jamie Oliver.

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Speaker 4: The good thing is that Jamie had a few money problems,

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Speaker 4: so and I can't cook.

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Speaker 2: So between the turms where the ultimate?

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Speaker 3: Do you ever get ben Fordham's If you had that,

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Speaker 3: you're a little bit ben Fordham as well. Really I

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Speaker 3: haven't had hosting Ninja Worr.

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Speaker 2: I think you're.

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Speaker 3: Love your Scotty.

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Speaker 1: I think what you're doing. I mean talking of Jamie Oliver.

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Speaker 1: We had Jammy Oliver on years ago. He tried to

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Speaker 1: change the eating habits of schools. He told us Scotty

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Speaker 1: that it was very frustrating. There was a lot of

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Speaker 1: hurdles that he had to get over. But this is

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Speaker 1: a fight that I know that you're very passionate about

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Speaker 1: and just on behalf of us and all. I love

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Speaker 1: that you're doing a great thing and I think it

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Speaker 1: needs to be in schools and keep it going, mate.

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Speaker 1: So after Danetrey to get away from your family, keep

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Speaker 1: that fight going for all of us.

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Speaker 2: You can do it.

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Speaker 4: Change dot org, forward, slash money hyphen movement will help

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Speaker 4: hopefully get the politicians across the board.

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Speaker 2: Good luck, so it fits and Whipper