Episode 44: How to Teach Kids About Credit with Kishanna Heyward

Acquania Escarne 0:03

You are listening to the Purpose of Money podcast, a podcast where we talk about ways to build wealth and create more freedom in your life today. I am your host Acquania Escarne

Hey guys, welcome back to the Purpose of Money podcast. This is your host Acquania Escarne. I'm super excited to share with you a topic that I've been learning a lot about recently, I just started this book called From Bars to Bitcoin by Justin Rhedrick. He's also known on social as the Bitcoin vegan, it's absolutely amazing. It's a real page turner, I have to admit, for years Bitcoin has been a mystery to me. Sometimes my clients have asked about investing in cryptocurrency and I know the surface level I even know some of the coins. But I didn't really understand the power of how this system works. And so I'm really glad that I came across Justin, we met through the virtual internet community first introduce through Melanin Money, which is a community that connects financial influencers with those who want to learn more about their money. And then we just began to establish a real friendship. And so when his book came out, I supported him bought a copy, but I started reading it, and I can't put it down. His journey from being just a young black kid in Charlotte, North Carolina, to coming into a situation where he got into some trouble It is called From Bars to Bitcoin, he was incarcerated for three years, served his time and then was released back into society, and took advantage of a sector that really helped create advantages for the early adopters.

And you have to understand, individuals in the prison system, who are allowed to return back to society do not always have it easy. They have to come back with a record, they have to find employment and raise families and take care of those around them. And Justin was no exception. And I find it amazing that he utilized Bitcoin as a way to establish a path to wealth for himself. When society made it difficult to establish himself in other ways. It's difficult for convicted felons or those with records to get life insurance, for example, it could be difficult for you to access credit because you haven't been working or utilizing credit for the last few years you were in prison, it could be difficult for those in prison to get out and just establish a basic stable environment where they could stay on a good path and out of trouble. So I just commend Justin for his journey and then transparently sharing it in his book. It's been phenomenal just to read how he changed his mindset in order to really change his life. And he's changing that of those around him. But the other thing I appreciated is he recently told me about a conference that just happened called the Black Blockchain summit for 2021. It's been going on for four years straight. It is a conference where individuals who are experts on blockchain, experts on Bitcoin get together and talk about how Bitcoin and cryptocurrencies can help really lessen the wealth gap, provide access to several people, just by having a connection to the Internet.

It's amazing to me, how much blockchain the technology, and then the access can allow certain economies to have more opportunities and more access. And the fact that cryptocurrencies really are transparent in a way that it's difficult to block someone just because of their race, or their socio economic class, because as long as you have internet, you have access, to trade, and to use this as a currency for your goods. And it was also interesting to learn in this conference, how this can also help artists protect their intellectual property and digital products maintain their worth, because you use technology to protect the images and then to sell them to those who are interested in buying them in a way that is beneficial to the buyers, sellers and the artists. So shout out to the Black Bitcoin, or the Black Blockchain Summit for 2021. It was supposed to be hosted in person at Howard University, but due to COVID they made it all virtual, which was great because it was free as well and more accessible to more people. So if you get a chance, check out the show notes. I included a link to Justin's book there and I definitely encourage you to check it out. It's From Bars to Bitcoin and it is available on Amazon and his website.

Without further ado, I'd like to talk about today's episode where we are hanging out with Kishanna Heyward a wife and a mom who is making education for kids and financial literacy her top priority. She's the creator of Credit is King. And she's teaching kids all about credit through coloring and fun activity books. I hope you enjoy this episode we talked a little bit about her money story. What inspired her to create Credit is King Kareem and how you can teach kids about money. I have people ask me this a lot. And I think this is a great episode for anyone who's trying to educate their children about finances. Hope you liked the episode. Wherever you're listening, please feel free to leave a five star review and enjoy the show.

Hey guys, welcome back to the Purpose of Money podcast this week. I'm super excited to have Kishanna Heyward. She is a wife, Mom and entrepreneur who started her career as an educator and received her master's degree in educational leadership. Kishanna prides herself on being able to empower and encourage others to reach financial freedom and create generational wealth. She is the creator of Credit is King Kareem. And Credit is Queen Charlene coloring and fun activity books that teach kids about credit.

Hey, girl, welcome to the podcast. How you doing?

Kishanna Heyward 6:26

Hey, how's it going? I'm doing good.

Acquania Escarne 6:28

Im doing awesome. I'm so glad to have you here today. And I'm really, really glad that a friend of ours introduced us because this is so awesome. I checked out the books and the website. And I'm super excited to talk about how you teach kids about credit. But before we get into that, can you tell me what inspired you to create Credit is King Kareem?

Kishanna Heyward 6:53

Alright, so. So long story, but quickly, my four year old daughter asked me what credit is being the teacher that I am and trying to find resources on the internet, I could not find any. So I know what credit is. But to relay that to my my four year old was a difficulty for me and most parents I see. And statistically it shows that most parents don't talk to their kids about finances. So um, you know, in the shower, for me is where I get most of my ideas, I was in the shower, and it was like boom. And quickly, I got the idea for the name, and also already know about credit. So I was able to put it into kid form in the shower. So after I got the shower quickly wrote it down. Within two weeks, the book was on Amazon. So that's from beginning to end, how it kind of worked and where the idea came from for my four year old daughter,

Acquania Escarne 7:41

wow, I need you to write my next book. Let me just give you some ideas, you get inspired, and you just crank that baby out. So tell me more about your tips specifically, like how do you break down credit for kids? What are some of your top three tips for parents who might want to have this conversation with their children?

Kishanna Heyward 8:02

Right, I would definitely say start early. A lot of times, that's number one. A lot of times, parents, teachers, and everybody really underestimate what kids can learn. I was a fifth grade teacher for about seven, eight years, in DC and North Carolina. And basically, um, they're sponges. So start early, as early as possible. Number two would be to make it fun. This is a mundane, adult thing topic. And making it fun means really, which spills onto my third way to teach kids about credit is to include children, right to include kids on what's going on in your household. So talking about finances and not being shy about that. A lot of times when you have the money or don't a lot of times finances is kind of tricky. And it's kind of what I would suggest most people are a lot of people don't like to talk about, but incorporating your child into, you know, this is what a credit score is or I'm about to buy a house. And you know, my credit score needs to be this, you know, son or daughter, whoever you're talking to you as a youth person. But definitely those three things are vital to getting started. But making it fun is part top one.

Acquania Escarne 9:04

I definitely can agree with that. And I have this way of doing it to where you know, when I'm budgeting I tell my son about it before when I used to write checks, I would have him sit down and write the checks with me to those who I needed to mail payments to, which is so foreign now, but my mom actually did that with me. Believe it or not, she used to teach me the importance of balancing your checkbook, when she would write checks for me to go to school and pay for my lunch. So she would give me checks for lunch money. And sometimes she would just be like Quan go ahead and write the check. But just make sure you put it in the register. So I know how much money is left in the bank account. So I used to have to write out the check she would sign it then I'd have to deduct it from the balance on the register. So she would know how much was left in the bank. And even though we don't really write checks anymore, I still tell people that's an important exercise. budgeting one on one, knowing what your income is and your expenses and how much money you have left. And so it's harder to teach now because so much is plastic and swipe this and swipe that, that for a while my son actually thought, you know, money was infinite, because he never realized that card has a, you know, boundary. And if there's no money, it won't swipe.

Kishanna Heyward 10:31

For sure.

Acquania Escarne 10:32

But he didn't know that at first, he just thought, like, just use your card, just you know, he would ask for stuff in the store. And I'd be like, well, how am I gonna pay for that? That's not in the budget, like just swipe your card.

Kishanna Heyward 10:45

Thats funny

Acquania Escarne 10:46

And so then we started to talk about it because I was like, Well actually, booboo, like, if you want something in a store, you should bring your money. This is where I was like, you have money, you have birthday money, you have Christmas money, you have allowance, you can bring your money to the store. You knew, when I took you out the house, we were going to the store. And then it's funny how, oh, I don't really need that. If I have to buy it, then let me think three times over as to whether or not I really need this purchase. And so I had to school him, I was like, why is it you're so quick to ask me to buy something. But when I flip it on you and say Where's your money? Now? It's like, well, I might not really need that. Oh, I love it. I love it. And yeah, telling kids like these cars have boundaries, and doing budgets with them super, super valuable. So I love that. So I like your tips. And I like what you're doing. Did it take you about the same amount of time to write your second book Credit is Queen for Charlene like, Did you do that intentionally. So girls and boys had an example.

Right? So it's the same material in both but just a different gender character so boy and a girl character because I knew clearly, you know, for my girl, my little girl, she needed a girl representation of her it was important for me to have them African American on the cover, it was important for me to have just a representation so they can see this is this is normal people this is this is what we do. This is how we conduct ourselves with our finances. And more importantly, just to learn about credit in a more simplistic way, so yeah, it wasn't too deep to get the girl's book up and running quickly.

Okay, I like it. So you're you're knocking out books, like, you know, two weeks you're good out for sale. You said it's on Amazon.

Yes, ma'am. I tell people all the time, like, speed of implementation. So you have the idea, you know, move on. He said it's a it's a sense of urgency, because if not, it's gone. And then somebody else does it. And then you wonder like, why did I do it? But yeah,

have you gotten a lot of good reception from parents and children alike? When you tell them about the books?

For sure. I've been doing presentations in school actually, yesterday. Yeah. Yesterday, Thursday, I did a presentation in a charter school for second graders and they were pumped and that pumps me up. I'm like, oh, okay, cuz that was like, the lowest grade. Getting it. I was like, second grade thats whats up, because that's who my target audience is. Right? So I'm like, okay, that's, that's dope. Um, so yeah, I've been getting good reception from everybody, kids. So that's an example from the kids, the parents, I did a presentation in person, a picnic, where we had parents and their, their sons and daughters there, we fed them. And then we just talked about credit. And that's, to me, that's unheard of. In today's age, anytime I didn't, I didn't experience that as a kid. So getting good reception from everybody. So yes,

I like that. And I love how you're making it fun. And so I'm guessing in the classroom, you're asking the kids questions, and then testing their knowledge as you go. So certain things they'll remember, and probably even say, kids surprise me all the time, like my children, you think they're not paying attention? And then they question a purchase, and you're like, wait, why are you counting my coin? But it's true. Like my son, we recently purchased another car because my husband wanted to give his car to someone else. And at the time, you know, for a short amount of time, we had three cars and my son was like, I don't understand why you're getting this car. We have two cars and they work he was like Daddy, your car works. So then we had to explain to him you know, like Daddy wants to give his car to a family member. And now you know, we can afford to get his dream car and so we're just getting a car and then we will give the family member the car in a week or two. But he was really like, this is not cool. Like what we have work. He was very adamant was like these cars work. There's nothing wrong with them. I don't understand why you're getting a new one. But he was like, but I like the new one. It's cool. You know, he was like, it's Cool, but it's always this but and you're like, what, but what Rashad and then he's like, but we have two cars and I don't understand why we need a third one. So I'm surprised I'm not surprised that other children's second graders are just picking up the information and really making it fun. So I know you must be super exciting to have in the classroom.

So I want to know more about what's next for you. Do you have any other ideas in the shower that you're going to be doing soon?

Yeah, sure. So I have a teen book, it should be out by the summertime, that's going to take a little bit more time because a lot more words and more information. I really want to prep high school seniors for life, right? statistically, right now, I know, colleges enrollment is down because a lot of kids are not going to college. So what does that mean? That means that they're in the workforce doing something hopefully that they love, but they're known workforce. So how do they manage the budget? How are how are they saving, I'm talking about dividends, I'm talking about credit, of course, but things that they need to know as a guide of sorts to say, this is my guide to when I go to college or not, I have something as a foundation, and they can build from there with real world experience. We already know that. And then, uh, yeah, I want to do some more coloring books, that's low content material. And I find that it's just, it's to the point, it's simple, and I can break it down, you know, to what they like, and I really want to do something on real estate altogether, because that's my passion. That's what I do.I am a real estate investor

Let's talk about that. Next.

Yeah, so I'm talking about real estate, because we all know that, you know, top two inaudible of the world is, you know, vesting in the stock market and also real estate. So I'm just just just getting kids at my base is kids, right? I try to target kids and, and young adults and youth, because I feel I'm most connected to them. And also, um, I just feel like they need to know. So yeah, those are my ideas so far.

Great. So I do have a question about the pictures. Do you draw the illustrations as well? Or did you hire someone to do that?

No, I hired somebody to do it on Fiverr so I'm not know if you're familiar with that. So fiber, hire somebody, I think she was in Russia, like, I just need to her I just needed her to like what I saw, I just saw, you know, brown and black children. From there. I was like, okay, kind of be creative, what you want to do, but this is kind of what was imperative. So she got it out to me within seven days or so. From there, just kind of rock and roll but yeah, hired out for that.

I love it. So tell me more about your interest in real estate. What type of real estate investing do you do?

Yes, I own a real estate company here in Fayetteville, North Carolina. That's what I'm currently at. I was in DC, but um, so I started my company while I was stationed in Germany, my husband is military. And I was a wholesaler. So I was wholesaling properties. While I was in Germany, in Fayetteville, North Carolina, making bank I had boots on the ground, I have people looking for houses for me, send me the houses and not do my, you know, do my thing. Find the owners? And they like, yeah, I've gotten the house under contract like $800 is my lowest, huh, it wasn't house, it was a trailer, but I'm still the land attached to that trailer as well. So um, yeah, my I love it. And I just want to be it. Yes, this today, I just want to bid on some land for $4,000. And I'm the land I'm planning to do a glamping site. So we'll see how that is for Airbnb situation, or a duplex or quad. So we'll see it kind of is zoned for any one of those things. So we'll see.

Okay, so just for those who are listening, and they're not quite familiar with wholesaling, I'm going to give a quick definition and then you can kind of add to it. So wholesaling is when an individual identifies properties that are for sale, and puts out a contract on that property, but then finds investors who will take over that contract. And in the process of bringing the investor to the deal, they will receive some type of compensation in the process. And so you were sourcing real estate investment opportunities, giving them to a list of investors who still found a way to make money off of it outside of paying you so then it made it profitable for you as well. This is a great way to get into real estate, and I call it a low cost to entry because most of this requires you to just have good research and hustle skills, but you're not actually putting out any money. When you're finding these deals. You're passing them on to investors before there's any money that's required of you. Correct?

Absolutely correct. So my first deal was actually a triplex and a quad. And it was you know, if you ever drive in your neighborhood and you see we buy houses, cash, those are wholesalers right or hear a commercial I've heard a commercial on the one on the radio the other day, but we buy houses cash, those people are wholesalers and yeah, I found the property just on the internet. It was a a site called Moodle I don't even think people use that site anymore but I saw that it was an expired listing and I use people search I have some people search on websites that I use found the owner contacted her got it under contract for I think like $3,000 I want to say no it was 10,000 to $10,000 and then I don't put up my money like you said I don't put up any of my money I just find a cash buyer that says yeah, I'll buy it for 15 and I'm my split my profit for me is the $5,000 in that situation. So it's a beautiful thing I don't put up any of my money and I would say it's super low cost like super super low cost again I was in Germany I did two three deals while I was in Germany and we came back to the States because we were stationed back in Fort Bragg but the main things I pay for is um people search sites I pay for if I want to do postcards or you know snail mail but I don't do that typically and that's really it like it's really really low cost like I was the profit was was delicious

Okay and so you sounds like you utilize your wholesale profits in the beginning to now do your own type of investing so the land that you purchased that you're going to turn into a glamping site you use some of your profits from real estate to purchase that that wasn't a wholesale intended deal like you knew I want this land and I'm going to develop it

Kishanna Heyward 21:27

Yes so my whole idea when I started to wholesale so I've been in business for years so my whole idea when I started to wholesale was to eventually become a cash buyer right so I want to be on the flip side I wanted people to start bringing me deals or I could just find myself but if I don't feel like it somebody bring me deals just like I was doing in that situation. So yeah, the profits that we have now we can now be cash buyers so um this particular land was a surplus deal which was surplus deals surplus properties are properties that don't sell at the auction right? So when you go to the auction and you know let's say it was a piece of land well this was a piece of land that was at auction nobody bids on it, it just goes to a pile all right now the county owns it still so I just paid pretty much the back taxes on the property now have about an acre of land so yeah

Acquania Escarne 22:17

Pretty lucrative. I like it and I like your innovation, your enthusiasm, but let me ask you this question. So I'm interested in wholesaling I know where to find the properties maybe I go through court records maybe I look at expired listings, but how do I find my first investors

Kishanna Heyward 22:35

Yeah, that's the easiest part and I always tell people to start with actually finding the properties first cash buyers will always be there for a sweet deal doesn't matter where they are right but I will go up I sell all my properties are used to on Facebook marketplace so just go on Facebook marketplace and you could put like a dummy property up or if you have actually have a property say hey, this is my property. And if for that cash buyer that particular deal doesn't meet their criteria when you say hey, this doesn't meet your criteria But hey, let me write you down on my cash buyers list and in the event that I come up and find a three bedroom two bath everything that you're looking for, I'll contact you and that's kind of how you build a cash buyers list but that's the easiest part just find the properties first that's the hardest part my personal opinion but yeah, they come in flocks literally and I used to do group showings so I had a duplex a couple duplexes that I sold and this is beautiful just just have everybody come today and groups on so your cash buyer be at the property 5pm 5pm 5pm 5pm 5pm and there's like a bidding war like I don't know how to do it 40k 50 whatever so that's just so that's just a little Jedi mind trick I do but if you're a beginner Yes, I will say start off with a property put that property on Facebook marketplace and from there cash buyers come in droves literally like a you'll know, we call them tire kickers people who oh yeah they don't got the money there's ways to not waste your time right proof of funds or you as you do it, you'll see

Acquania Escarne 24:11

Figure it out. The book on this is coming I guess

Kishanna Heyward 24:15

for sure.

Acquania Escarne 24:16

She like I can't tell you all my secrets the book is coming. Okay, so let's bring it back to the name of the podcast is actually called the purpose of money. So I asked all my guests a signature question, what is your purpose for money?

Kishanna Heyward 24:29

My purpose for money is to essentially eventually help other people attain money themselves. So I think a part of my calling a part of my purpose is to help others experience what I experienced. So the knowledge that I have about money, I want to share that with other people so they they can attain money themselves and it's the best feeling to share that experience with close family and friends. And now we can all sit sit at the same table and not feel left out. We can talk about money, we can we can share our experiences and travel And do the things that really my opinion what this life is really about sot

Acquania Escarne 25:05

that's what I love. I love it and we all need to be eating at the table.

Kishanna Heyward 25:10

Amen, Amen its food for everybody so for sure

Acquania Escarne 25:14

I agree with that but tell me more about your money story then like did you have someone in your family who taught you about money or did you learn from mistakes?

Kishanna Heyward 25:23

A little bit of both? My dad was a guy who he still has a trucking business so he was always a dreamer. My mom was at home but I we were homeless for a little bit too but I learned from watching right as most kids do I watched and saw like wow, we really can't pay the rent this month right? This is a struggle and I used to see you know, um, you know, during Christmas time my dad would maybe sacrifice paying you know their light bill for Christmas gifts and I'm like, in my mind, I just knew that didn't have to be there was a way to do both and be comfortable just to cover the basics so a little bit of both right so I learned from watching and experiencing with them because I grew up with them. And also I'm YouTube University that's not I call it my YouTube friends like I know about dividends from my YouTube friends or people around me that may know a little bit but a lot of times I'm the go to person and that's fine I think that's a part of what I was supposed to be doing that's fine that I know about Roth IRAs and 401 K's and how to max them out Um, but yeah, my YouTube friends be helping me out alot

Acquania Escarne 26:29

I love it so the next thing is life insurance and how to really build generational wealth through that we can talk about that on the side. I love it I love it. I think I want all my listeners to check out your website. Credit King Kareem and CreditisKingKareem.com but where else can we find you are you on any social media platforms? How can my listeners Connect?

Kishanna Heyward 26:57

Yeah, so an Instagram Credit is King Kareem Facebook Credit is King Kareem the website Credit is King Kareem or you can go to Amazon and purchase the books just put credit coloring book or Credit is King Kareem book in there you'll see both the Charleen book and Kareem book as well.

Acquania Escarne 27:12

Love it, love it. Don't worry guys, I will include links to everything in the show notes. And you can check out more about Credit is King Kareem and Credit is Queen Charlene.

Thank you so much for being on the podcast. I never expected to have such a great conversation about credit coloring books and real estate. I really appreciate it, guys until next time, keep building generational wealth

Thank you for listening to the Purpose of Money podcast. For more resources and information, check out my website ThePurposeofMoney.com . And while you're there, please sign up for our newsletter so you have the latest information on new episodes and blog posts. Until next time, keep creating freedom in your life today.

Transcribed by https://otter.ai