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Speaker 1: Jum Mission with Jones and Amanda.

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Speaker 2: The next guest has been called the Jamie Oliver of finance.

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Speaker 2: He is a successful stockbroker, a money saving whiz, a

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Speaker 2: best selling author who's on a mission to help kids

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Speaker 2: learn practical money skills. It's the Barefoot investor himself.

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Speaker 3: Scott Payperlo, Good morning, how are you mate? And interesting

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Speaker 3: about Jamie Oliver. Weren't you somewhere and someone came up

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Speaker 3: to you and said, I love your work. I think

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Speaker 3: you're great. I've got all your books. You are fantastic,

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Speaker 3: And you're thinking, oh, I'm pretty good, aren't I? And

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Speaker 3: then you found out the lady thought that you were

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Speaker 3: actually Jamie Oliver.

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Speaker 1: She was saying, I was at a book signing, and

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Speaker 1: she's like the chicken katcha tory. I love the chicken.

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Speaker 1: That's another person, but I'll take it anyway.

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Speaker 2: So it's very interesting about this new push is it's

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Speaker 2: a new push, a money movement to teach kills, to

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Speaker 2: teach kills, to teach kids literacy, financial literacy, because we

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Speaker 2: just don't have that. We don't teach them any of

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Speaker 2: the financial life skills.

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Speaker 1: Yeah, I mean, so I wrote the book Barefoot Investor.

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Speaker 1: It became a bestseller, and the number one question people

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Speaker 1: asked is why didn't I get taught this in school?

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Speaker 1: And it sort of made me think, well, you know,

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Speaker 1: why is that? Why didn't we get taught anything? Why

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Speaker 1: did we have to learn through trial and error? I mean,

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Speaker 1: it's the one thing that every kid going to school

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Speaker 1: right now is going to be tested on every day

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Speaker 1: of their lives, and we just don't do enough of it.

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Speaker 2: And so talk us through what kind of thing that is,

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Speaker 2: what should we realistically be teaching them?

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Speaker 1: Okay, So I did two programs over the last couple

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Speaker 1: of years in schools. The first one was with primary

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Speaker 1: school kids, and it's not really about money per se

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Speaker 1: the little kids we're talking sort of primary school kids.

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Speaker 1: It's about working hard and making that link between if

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Speaker 1: I work, I get paid and no matter. You would

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Speaker 1: be amazed at the thirty five year olds who I

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Speaker 1: know who haven't created that link between I get up

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Speaker 1: and I work and I get paid. The other one

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Speaker 1: is then they get money and as a class, they

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Speaker 1: get to spend some money, which is good because we

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Speaker 1: don't like tight asses. They save up for something that

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Speaker 1: they delay gratification with and they enjoy saving up to

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Speaker 1: something and getting a goal, and then they give right,

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Speaker 1: so they give part of their money. So I was

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Speaker 1: in Harvey Bay while I was doing the program and

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Speaker 1: a little bunch of six and seven year olds decided

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Speaker 1: they decided that they wanted to spend their class gift

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Speaker 1: jar on feeding I think it was thirty five people

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Speaker 1: homeless people in their area. Now, I didn't come up

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Speaker 1: with the idea. The teacher didn't come up with the idea.

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Speaker 1: It was the kids, and they made the decision because

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Speaker 1: they realized that when they don't have breakfast, they get

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Speaker 1: kind of angry, and they wanted to provide breakfast to

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Speaker 1: people in their community that couldn't afford it. So, you know,

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Speaker 1: for me, that's the behavior of I want my kids

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Speaker 1: to be hard working and I want them to be generous.

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Speaker 1: If we do those two things, I think, you know

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Speaker 1: that is setting kids forward. With the high school kids,

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Speaker 1: I sort of targeted for fifteen sixteen year olds, and

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Speaker 1: they're very keenagery at that age, Like you're getting a

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Speaker 1: lot of shade thrown at me. My whole idea was

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Speaker 1: show them how to get a part time job, get

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Speaker 1: them saving for something, whether it be schoolies, a bike,

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Speaker 1: a tattoo. I don't really care. I just want them

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Speaker 1: to actually save up and have that win.

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Speaker 3: Yeah.

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Speaker 2: Interesting, I read that Elton John does this with his kids.

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Speaker 2: He has three jars and they get pocket money. They

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Speaker 2: put a third of it to something to spend, a

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Speaker 2: third to save, and a third for charity. And I thought,

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Speaker 2: you know, even Elton John has to you know, he

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Speaker 2: has all this stuff, but he wants his kids to learn.

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Speaker 3: The guy that famously was spending three hundred thousand dollars

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Speaker 3: a week on flowers.

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Speaker 2: And that's the thing. It didn't bring him any happiness,

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Speaker 2: and that's the thing.

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Speaker 1: But Scot you know, and it's a lot harder for

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Speaker 1: as we're all very wealthy now our kids. We want

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Speaker 1: them to get out of bed and work and be

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Speaker 1: generous and hard working. And that's what these programs really

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Speaker 1: teach them, kind of like real money skills.

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Speaker 3: Because then you look at all the and that instant

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Speaker 3: gratification thing that we're dealing with now. So I remember

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Speaker 3: when we first moved out of home, we bought this

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Speaker 3: lounge from Harvey Norman and it cost us six hundred

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Speaker 3: dollars for this land, which was a fortune and it

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Speaker 3: was like the pay it off thing over time. The

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Speaker 3: twenty four Actually this is where it used to be,

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Speaker 3: like six months interest free, I think back then, but

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Speaker 3: it took us so long to pay it off because

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Speaker 3: it was it was like a curious time. And now

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Speaker 3: you can get whatever you want right now. We had

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Speaker 3: to wait for it, by the way, as well, we

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Speaker 3: didn't just get it. It was back then you are

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Speaker 3: like a labor yeah, the old layby.

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Speaker 1: So you sat on milk creake carts until you actually

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Speaker 1: could get there.

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Speaker 3: And that lands was so satisfying because we were sitting

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Speaker 3: on best of blocks and planks, and then we got

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Speaker 3: our lands.

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Speaker 2: It's out of fashion, a new, a new one.

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Speaker 1: Well, you know, the idea is that kids now leaving

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Speaker 1: school are some of the most heavily marketed to of

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Speaker 1: all generations, right, And what we know is that kids

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Speaker 1: lead school have the lowest financial education of anyone in society.

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Speaker 1: So they end up getting into credit card debt, getting

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Speaker 1: into carlown debt, getting into after pay these sorts of things.

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Speaker 1: And then I see them sort of five years on

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Speaker 1: and they say, see, I'm no good with money. I've

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Speaker 1: got the credit card balance to prove it. So For me,

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Speaker 1: what this Money Movement is all about is saying enough enough.

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Speaker 1: We really need to teach this in schools. We need

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Speaker 1: to make sure that every kid graduates thinking I'm good

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Speaker 1: with money, so then that becomes a self fulfilling prophecy.

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Speaker 3: That's what it's all about.

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Speaker 2: You're right, if you tell yourself you're bad with money,

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Speaker 2: you'll never actually get your head around how to do

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Speaker 2: it properly.

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Speaker 1: And that's why, you know, with my kind of this

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Speaker 1: money movement thing, it's trying to change that conversation so

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Speaker 1: that kids say, I am actually good with money. I

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Speaker 1: saved up, I got my tatoom. Mum and dad may

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Speaker 1: not be very happy, but I actually got that, and

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Speaker 1: now I feel like I can make good decisions.

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Speaker 3: A tattoo of Scott's face or Jamie Oliver's face, maybe

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Speaker 3: maybe she'd give Jamie Oliver some financial advice, you know,

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Speaker 3: pay your staff.

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Speaker 1: Let's not go there.

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Speaker 3: That's great to talk to you. The Money Movement premiers

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Speaker 3: on Wednesday eight thirty on Foxteale Scott Pape for Barefoot Investor,

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Speaker 3: thank you for joining us.

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Speaker 1: Thank you, guys, Jonesy and Amanda's