SUMMARY
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Tyler Nicholls is an entrepreneur who is passionate about helping others at scale. He taught seventh grade Math with Teach for America before getting his Masters from Boston University. Tyler is the creator of Kudosy, a digital rewards system that helps solve the problem of financial literacy in the U.S. while strengthening families.

Today, Tyler joins the show to share his thoughts on having an abundance mindset, why it’s critical to develop sound financial habits early, and his passion for giving back to others.

TAKEAWAYS
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00:57 – Jonathan introduces today’s guest, Tyler Nicholls, who joins the show to talk about financial lessons he learned during his upbringing, including spending on what you value, and being intentional with money
08:29 – Having an abundance mindset
10:38 – From software products to financial literacy
11:59 – Jarring statistics on financial literacy and the vision for Kudosy
16:00 – The importance of building great financial habits early
24:15 – How the Kudosy app works
27:25 – The Lemonade Stand
31:13 – One thing that we can do to lead to greater personal and financial success and one thing to avoid doing
38:38 – The last thing Tyler changed his mind about and one place Tyler has visited that had a profound impact on him
42:16 – Jonathan thanks Tyler for joining the show and lets listeners know where to connect with him

QUOTES
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“[My mother] taught me to really respect money. Money is not necessarily hard to come by, but when you have it, you want to make sure you spend it wisely. You want to be intentional with it.” (05:24) (Tyler)

“When I bought my home, I realized I liked owning real estate and I wanted to own a rental property. My head was turning like, ‘Is there something that I have that I can leverage here?’ And l realized, ‘Oh, my house has a whole bunch of equity in it and I can leverage a HELOC (Home Equity Line of Credit). And then I used that money to buy a second property so that I can rent out and have two homes that are appreciating.” (09:27) (Tyler)

“I started realizing, especially with my young family, that I wanted to help kids learn how to manage money.” (10:55) (Tyler)

“In the game of money, there’s not necessarily one way to win. There’s lots of different ways to play it and there’s lots of different levels of understanding. The diversity of thought in finance is actually really good and there’s lots of different strategies to win in this game.” (15:27) (Tyler)

“The way that it works is Kudosy helps kids behave really well. So, as a parent, when your kids are doing things that you like that they are doing, you can give them ‘Kudos.’” (24:45) (Tyler)

ABOUT MINDFUL MONEY
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Do you struggle with money? You’re not alone.
Money is a means, not an end. It’s a necessity of life for sure, but more money does not always guarantee a “good life”. Money enables many aspects of modern life, but as a dominant consideration it becomes destructive.
The paradox is that more time and energy spent on personal finance does NOT create better outcomes. Unlike many other parts of life, we can’t create better outcomes by being smarter, spending more time, or putting in more effort.
Join Mindful Money author and experienced 40-year investor Jonathan DeYoe as he shares stories from artists, authors, entrepreneurs, and other advisors about how they mindfully minimize their need to think about money and get more out of life.
If you aren’t happy with your finances, feel like money takes more time that it should, or want to place your financial decisions into the broader context of your life, this show is for you.
Each episode will draw the line between the “enough” activities that the academics tell us are additive to family outcomes, and those “little bit more” efforts that take time and sap energy, but do NOT improve outcomes.

GUEST RESOURCES
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Tyler’s LinkedIn: https://www.linkedin.com/in/tylernicholls/
Tyler’s Email: tyler@kudosywallet.com
Kudosy: https://kudosy.com/
Kudos App: https://apps.apple.com/us/app/kudosy-family-wallet/id1645781178
Books Mentioned:
Rich Dad Poor Dad: https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612681131/
The Go-Giver: https://www.amazon.com/Go-Giver-Expanded-Little-Powerful-Business-ebook/dp/B00YBBKLKS/

MINDFUL MONEY RESOURCES
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Monthly Coaching Membership: https://courses.mindful.money/mindful-money-membership
Jonathan’s Book – https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369
Website - https://mindful.money/
Jonathan DeYoe on LinkedIn - http://linkedin.com/in/jonathandeyoe
Mindful Money on Twitter - https://twitter.com/MindfulMoney_Ed
Mindful Money on Facebook - http://facebook.com/MindfulMoneyPlan
Mindful Money on Instagram - http://instagram.com/mindfulmoneyplan
Mindful Money on YouTube - https://www.youtube.com/c/MindfulMoney🎙️
Podcast Production by FullCast: https://fullcast.co/sn