ChooseFI Ep. 576: Raising FI‑Minded Kids—What Really Works, with 15-Year-Old Rishi Vamdatt

Date: December 8, 2025
Host: Brad Barrett (A)
Guest: Rishi Vamdatt (B), Creator of Easy Peasy Finance

Overview of the Episode

This episode of ChooseFI centers on empowering the next generation to embrace financial independence (FI) through early education, actionable steps, and experimentation. Brad interviews Rishi Vamdatt, a remarkably driven 15-year-old personal finance educator and creator of Easy Peasy Finance, who began his money journey at age six. Together, they discuss practical ways to spark financial literacy in kids and teens, the role of parents, investing from an early age, and how our upbringing shapes money attitudes.

Key Discussion Points and Insights

1. Rishi’s Money Story & Early Beginnings [02:53]

• Inspiration at Age 6: Rishi’s interest ignited when he read I Will Teach You to Be Rich with his parents at six, discovering the real-world impact of financial knowledge.
• Practical Wins: At age 7, Rishi successfully encouraged his parents to pursue a credit card dispute for flight change fees, realizing finance is more than “just theory—it's very practical.”
• First Investments: Started investing at 7 with his father’s brokerage, initially focusing on individual stocks and soon shifting to index funds as his knowledge grew.
• Easy Peasy Finance’s Creation: Noticed a gap in youth-friendly resources, so he launched his animated, concise YouTube channel at 8, making concepts accessible for beginners.

"That showed me how finance isn't just theories … it's actually very practical. And that was a really proud moment for me because I was so young." – Rishi [04:03]

2. Evolving Content and Consistent Learning [07:53]

• Consistency: Weekly videos for over seven years—short, engaging, and clear, focused on kids and beginners.
• Content Evolution: From “What is a bank account?” to advanced topics like earning money online, the psychology of money, and investing for Gen Z.
• Method: Uses short (2–3 minute) visual, Q&A format for accessibility.

3. Building Financial Knowledge—Resources and Certifications [09:03]

• Early Influences: Aside from Ramit Sethi, “Blue Chip Kids” was pivotal in his learning.
• Ongoing Education: Reads Kiplinger, Fortune, Forbes; is pursuing Certified Financial Planner (CFP) coursework through NYU to deepen and broaden his content for various age groups.

"I've already completed the coursework and earned a certificate in financial planning through NYU." – Rishi [09:47]

4. What Works in Teaching Kids About Money [11:24]

• Allowance as a Learning Tool: Advocates giving children an age-based weekly allowance, letting them make their own money choices—and mistakes—early.
• Match Savings: Suggests parents match their child's savings to encourage the habit—mirroring a 401k.
• Everyday Money Lessons: Involve kids in daily financial interactions (grocery shopping, bill paying, ATM withdrawals) as teachable moments tailored to age.
• Role Modeling: Kids pick up money attitudes mainly by observation, so being a financial role model is as important as explicit teaching.

"Most kids develop a lot of their finance related habits or ideas by the time they're only seven." – Rishi [12:26]

5. Allowance Structures & Building Autonomy [17:18]

• Rishi’s parents gave him allowance without restrictions, fostering independence. Because of his interest, he chose to invest all his allowance from age 7.
• He even chose to forgo birthday parties, asking his parents to split the would-be cost between gifts and his investment account.

“It was a lot more organic. And when I made those decisions, I'm sure it helped me a lot more because it was something that I actually decided to do.” – Rishi [18:52]

6. Actionable Teaching and Parental Involvement [24:03]

How Did Rishi Invest as a Kid?

• Practical Steps:
  • Allowance was given as cash at first, then invested via his dad’s brokerage account.
  • Rishi tracked everything in a spreadsheet, discussing investments monthly with his father.
  • Started with individual stocks, switched to S&P 500 index funds for simplicity and better diversification.

7. Index Funds vs Individual Stocks—Explaining It to Beginners [26:10]

• “Instead of trying to choose one or two winning stocks, which even the pros more often than not fail to do... just invest in the whole market.”
• Compounding and early start matter most: $150/month from age 20 can amount to $2 million by 65; much less if started at 40 due to lost compounding years.
• Fractional shares and low-cost platforms make index investing approachable even for small sums.

8. Balancing Saving and Spending—Finding “Enough” [31:06]

• Introduces the concept of “enough” and intentional spending: Spend on what brings you value or joy; cut costs elsewhere.
• Shares personal practices: buys on sale, uses the same backpack for years—values experiences over luxury goods.
• The objective is neither maximal saving nor maximal spending, but mindful, value-driven spending (“being a valueist”).

“Wealth is not necessarily about having more, but as needing less and being content with what you can have.” – Rishi [31:33]

9. Investing as a Teen & Tax-Advantaged Accounts [36:55]

• Puts YouTube earnings (after expenses) into a Roth IRA for maximum long-term growth and tax advantage.
• Maintains taxable investments from allowance savings via his father’s custodial account.

10. College: Re-evaluating the Path Ahead [39:22]

• Recognizes college’s value but advises a case-by-case approach due to rising costs and alternatives (trade schools, community college).
• Advocates for scholarship hunting and, where possible, “first two years at community college” to optimize costs.
• Actively involved in planning and rebalancing his own 529 plan with his parents.

11. FI Mindset & Taking Action [47:21]

• Rishi currently focuses on strong FI habits: saving, mindful spending, learning.
• Believes in the long-term vision of FI, but tailors his emphasis on input habits at his current age—more specifics will come as he gains clarity about his future.

12. Teaching Needs vs Wants: The Foundation for All [50:50]

• First step for all teens: Differentiate between needs and wants; practice conscious, mindful spending.
• Warns against common misconceptions (e.g., “credit cards are free money”).

13. Earning Opportunities for Teens [53:02]

• Emphasizes online jobs for teens—designing thumbnails, updating websites, creating social media content—as accessible, tech-friendly ways to earn.
• Making money through work enables practical learning of money skills (earning, spending, saving, and investing).

“For teenagers, a lot of the best jobs are online. Things like designing thumbnails or updating websites... Those kinds of jobs are really the best because they're things that teenagers would want to do.” – Rishi [53:27]

Notable Quotes & Memorable Moments

• “That showed me how finance isn't just theories … it's actually very practical.” – Rishi [04:03]
• “Most kids develop a lot of their finance related habits or ideas by the time they're only seven.” – Rishi [12:26]
• "Wealth is not necessarily about having more, but as needing less and being content with what you can have." – Rishi [31:33]
• “The best time to start investing was yesterday, but the second best time is today.” – Rishi [57:39]

Important Timestamps

• Rishi’s money journey and practical finance lessons – [02:53]
• Early investing and starting Easy Peasy Finance – [04:30]
• Favourite and recommended resources for kids – [09:03]
• Effective methods for parental money mentorship – [11:24]
• Allowance structure and real-world decision making – [17:18]
• How Rishi managed and invested allowance – [24:03]
• Simple index fund explanation for beginners – [26:10]
• Balancing spending vs. saving and defining “enough” – [31:06]
• Investing strategy as a teen – Roth IRA and brokerage – [36:55]
• College costs and discussion on scholarships/community college – [39:22], [43:26]
• Action: Building FI habits and first steps for teens – [47:21], [50:50]
• Jobs for teens to earn and learn – [53:02]
• Closing advice: Start now, parents are key, and the value of consistent action – [56:31], [57:39]

Final Advice and Contact

• For Parents: “You have the biggest role… so really involve [your kids] in the day-to-day topics related to money and bring them into the conversation.”
• For Teens/Young Adults: “Start learning money management skills now… by using the right strategies. Don’t get tempted by day trading or Bitcoin or hot stocks. The best time to start investing was yesterday, but the second best time is today.”
• Find Rishi & Resources:
  • Website: ezpzfinance.com
  • YouTube: Easy Peasy Finance

Takeaway:
Financial literacy begins at home, with parents modeling skills and including young people in everyday money decisions. By experimenting together, giving autonomy, and leveraging today’s accessible tools (online investing, digital jobs), families can empower the next generation with the habits and mindset for lifelong financial wellness.