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Episode 1140: Teenagers and Inflation

Why bike prices are going up and the best gift for the financially minded with Mak and G

SHOW NOTES

With Mak and G both about to turn 13, their minds are on one thing only, presents.

We talk about the new hot gadgets on the market, the benefits of financial gifts, and why the cost of bikes has been rising…

Gag gifts can be fun for a day but all too often we get given presents that end up in a cupboard gathering dust for years.

Saving for college through a 529 can be very helpful.

There are a couple great games about money, including The Game of Life, Charge Large, Payday and Cashflow.

Today, we look at different financial gifts you can give to your loved ones.

A birthday present that also helps entrepreneurs in need of money can be really cool.  You can make a microloan, and earn money. Check out Kiva. The popularity of microloans is exploding.

Why are bikes getting more and more expensive?  With COVID, demand has increased, and with challenges with less workers, lots of the parts are going up in price.

“In 2020 they predicted about 52 million people will use virtual reality each month, and that’s about 20% higher than the prior year. ” – Mak

“Our wants and desires change as we get older.” – G

Time Stamps:

00:20 – The Galapagos Islands, what makes them unique, and how they led to the discovery of natural selection.

02:06 – The rare Galapagos tortoises that can live for over 200 years.

04:21 – The market movements we’ve had this week.

05:17 – The rise in popularity of virtual reality devices.

06:28 – Why financial gifts are better than gag gifts.

08:47 – How microloans work and who they can help.

10:12 – Financially beneficial gifts and how inflation is affecting the cost of bikes.

 

Resources:

Rich Dad, Poor Dad

Kiva


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