>> Production funding and educational outreach for "Biz Kid$" is provided by a coalition of America's credit unions, where people are worth more than money.

A complete list of individual credit union funders is available at wxxi.org.

>> Coming this summer on BKO... >> My people... You are now free of debt.

[ Cheers and applause ] Soon I will lead you to victory on the road to financial freedom.

[ Cheers and applause ] Together, with our loans paid, our budget strong, and our savings in high-interest accounts, we will avoid financial pitfalls throughout the Seven Kingdoms, and I will reclaim my rightful place on the Iron Throne.

[ Cheers and applause ] ♪♪ >> ♪ When makin' money is the aim, these kids, they bring their game ♪ ♪ They're the ♪ >> ♪ Biz Kid$ ♪ >> ♪ Can you dig it?

♪ >> ♪ Mm-hmm ♪ >> ♪ They know what's up and let you know just how to make that dough ♪ ♪ They're the ♪ >> ♪ Biz Kid$ ♪ >> ♪ Right on ♪ >> ♪ So learn a little more about bringin' money through the door, they're the ♪ >> ♪ Biz Kid$ ♪ >> ♪ Right on ♪ >> Hello, and welcome to the show.

>> The financial road of life is full of twists and turns that can lead you in all sorts of directions.

>> Like to the beach.

>> Well, when you're financially free, then, yeah, life's a beach.

>> Well, most people don't want to work their entire lives, right?

>> And you guys want to live comfortably, right?

>> So at some point, you need to save up enough money to be able to live off your investments and get to Financial Freedom Town.

>> And it can be a long and arduous road full of financial pitfalls, dead ends, swindles, cheats, con artists -- >> Just -- Just, just deals -- deals that go south, deals that go sour.

>> And some amazing deals if you can spot the opportunity.

So, let's make a deal and move this along.

>> Now, you start on this road when you're born, and it can take over 100 years to complete.

So you want to be prepared for your financial adventure.

>> And what better way to prepare for that adventure than to play... >> All: The Road to Financial Freedom Game!

[ Cheers and applause ] >> The race to use time and money to your advantage.

>> So, come up on up, contestants!

>> Go.

[ Cheers and applause ] Whoo!

Yeah.

>> Now, this is Amanda, who spent only 16 years on The Road to Financial Freedom.

>> And this is Liban, who's been traveling The Road now for 17 years.

>> Are you ready to play The Road to Financial Freedom?

>> Both: Mm-hmm, Mm-hmm.

>> All right, Amanda, hit the buzzer.

♪♪ [ Computerized beeping ] >> What do we got?

What do we got?

Oh!

"Develop a Financial Plan.

Advance 5 Spaces."

That's a good start.

Good start.

>> Developing a financial plan is the first step to financial freedom.

Liban, you're up.

♪♪ >> And while we're playing around, take a minute to meet a lady who's got her financial future all mapped out.

>> Financial freedom means being able to live debt-free, having a budget, and telling my money where to go, and, also, building inheritance and wealth so that I can leave it for my family.

♪♪ [ Horn honks ] We're here at The Future Project in Manhattan, New York.

Come on in.

We work with high school students across the nation to empower them to believe in dreaming and achieving their goals.

We place Dream Directors in schools across the nation to inspire change in their schools.

I specifically work with our alumni students to make sure that they continue pursuing their dreams.

Time to go home.

Oh, no.

This street is blocked.

I have to go another way.

[ Horn honks, siren wails ] Although there are many ways to get home, sometimes it's good to have short-term and long-term financial goals.

It is so important to know how to manage your money so that you can have the life you want on The Road to Financial Freedom.

My long-term financial goal is to retire without depending on Social Security, and my short-term financial goal is to invest in stocks and pay off my student loan.

I have tools to reach my financial goals -- budgeting, investing, and a third one is Apps.

Here's how I do my monthly budget.

I look at a category, and I budget for $116 for food.

Out of my cash, using cash only, place it into my envelope.

This is called the Envelope System.

I then track how much I spent anytime I go out to buy food.

Another tool that I have is a retirement account called a Roth I.R.A.

that I deposit a certain amount into monthly.

This is a chart that shows Ben started at age 19 and Arthur started at age 26.

Look how much Ben has made compared to Arthur.

Biz Kid$, the earlier you start, the better off you are.

Time starts now.

Here's one of the apps I use to help track my finances.

I can plan how much I want to spend each month, and then can track how much I spend for each category.

I can see how much I have remaining to spend for the month.

Isn't that so cool?

And I can do this for the entire year.

My advice to anyone without a financial plan is to start today to build your way to financial freedom.

[ Cheers and applause ] >> Heyla's definitely on a straightaway to financial freedom.

Okay, Liban, you're up.

♪♪ [ Computerized beeping ] >> We got... ♪♪ >> Ooh!

"Blow 50 Bucks at the Mall.

Try again."

>> Don't feel bad.

I've been there many times.

>> Yeah.

♪♪ >> All right.

Come on, come on, come on.

>> Let's go, let's go, let's go.

>> "Open a Savings Account.

Advance 3 Spaces."

Nice.

Discipline saving is key to financial planning.

>> Exactly.

All right.

Amanda, back to you.

And we'll be right back after these fake commercials.

[ Cheers and applause ] >> "Biz Kid$" -- brought to you by... >> Tonight on "The Super Late Night Show"... >> The road to financial security and how to stick to it.

[ Mug shatters ] Really?

>> That's tonight!

>> I've made some mistakes.

Well, I guess there's a little more to it than that.

I guess you could say I got a little too spendy with my money, and it led to some crazy things.

I was in the red.

I had no money saved, not even a savings account.

But that's never gonna happen again thanks to Overspenders Recovery Center.

Now I've got a financial plan.

I've set short-, medium-, and long-term goals.

I've set a budget, and I'm never gonna get caught in those stupid money traps that got me here in the first place.

I'm never going back to my old spendy ways.

Thanks, O.R.C.

What's going on with the cameras?

♪♪ >> Hey, Mythbreakers.

This is Joan from Fort Lee, New Jersey, and I've saved my money buried in jars in my backyard for 25 years.

Everyone says I should put it into a savings account that invests in index funds with compound interest, but I still think my way is safer.

[ Chuckles ] >> Well, Joan, we'd be happy to tackle the Backyard Savings Model Myth.

>> For this myth, we've deposited $500 into this glass jar.

>> Then we'll bury it here in this hole.

>> But modern-day criminals are using more than just shovels to steal your money, so we're gonna take this myth to the next level.

>> We've upped the ante from the traditional shovel to this.

[ Ethereal music plays ] >> Now, I know it looks big, but it's actually just a four-cylinder C4 ballistic demolition tool that we've nicknamed Little Jimmy.

>> We will now place the device over the buried money.

♪♪ >> And step a safe distance away.

>> Adam and Jamie move a safe distance away.

>> All right.

We've moved a safe distance from the backyard.

>> And I want to remind our viewers that this is extremely dangerous and should never be tried at home.

>> This is extremely dangerous and should never be tried at home.

>> All right, Jamie, on my count.

♪♪ 3... 2... 1.

[ Explosions continue ] >> Well, Adam, if this money had been in a savings account, it would be safe.

>> Well, Joan from Fort Lee, New Jersey, I think it's safe to say that the Backyard Savings Model Myth has been... >> Both: Busted.

[ Cheers and applause ] >> Welcome back to The Road to Financial Freedom Game.

>> All right, Amanda.

You're up.

♪♪ [ Computerized beeping ] >> "Create a Budget.

Advance 4 Spaces."

Nice!

>> Yeah.

All right, Liban.

You're up.

♪♪ Come on, come on, come on, come on, come on, come on.

>> Ohhh!

>> "Spend Your Paycheck Before the Next One.

Back 2 Spaces."

>> Ouch.

Now, remember, budget, budget, budget, or you'll never get ahead.

Amanda, back to you.

♪♪ >> Let's see.

>> All right, all right, all right.

>> Come on, come on, come on.

"Check Your Account Balance Before Going to the Movies."

This is good.

"Advance 2 Spaces."

All right.

Watching your balance is a huge part of budgeting.

Liban, you ready?

Back to you, my friend.

♪♪ [ Computerized beeping ] >> All right, all right, all right.

"You Can Add/Subtract Your Spending and Saving."

Nice.

Now you're back on track.

Budgeting is a daily commitment, and it can take a lot of muscle to wrangle your budget where you want it.

>> [ Chuckles ] [ Bong! ]

>> Ha.

[ Chuckles ] Ooh.

♪♪ [ Cow moos ] >> Raising animals is a lot of hard work.

For pigs and goats, it's just a lot of checking on and cleaning pens, making sure they're healthy, feeding them morning and night.

[ Goats bleating ] [ Pig oinks ] My name is Cole, and I raise animals for profit -- pigs... cattle... and goats.

My favorite part of raising animals is going to fair.

When I was in 4-H, I won Market one year and Showmanship another.

I belong to FFA, which stands for Future Farmers of America.

FFA promotes education and leadership opportunities for youth.

FFA helped me learn how to budget because it is part of the record books that you have to fill out every year, making sure you know how much you're gonna spend.

It also helped me make sure I was making a profit on my fair animals every year.

[ Pig oinks ] My initial financial goal was to make enough money to go on a New York/D.C.

trip my 8th-grade year.

To pay for that, I started raising feeder pigs.

Makin' bacon.

[ Pig oinks ] [ Pig squeals ] To make sure I made enough profit off of each pig, me and my dad made a budget and worked backwards from how much I needed to make and then how much all my costs on every pig was going to be and how much I was going to make on every pig to then figure out how many pigs I needed to raise to pay for the trip.

[ Pig oinks ] What?

>> I love you.

>> I needed to raise eight pigs.

It took me about four to five months from the time that I bought the pigs until the time that I sold them.

I had to really focus on how much I was spending over the course of the project.

One of the ways I saved money in my budget was buying pig feed and shavings in bulk, which helped save money per bag and helped keep my budget on track and keep my costs down to make more profit off of each pig.

[ Pig squeals ] Any kid can budget if they put their mind to it, especially if it's for something that they really want to do.

I learned how to budget for my business, so now I know how to budget for my life.

[ Pigs snort ] [ Cheers and applause ] >> On the road of life, you never know what financial road blocks are right around the corner.

>> [ Sighs ] Oh!

We're never gonna make it to our financial destination.

>> Hold on.

Let me check my Road to Financial Freedom App.

>> Warning.

You're now speeding through your last paycheck.

Quick.

Detour.

>> Hmm.

>> With our Road to Financial Freedom App, you're just a tap away from seeing the financial dangers ahead before you get there.

>> Warning.

Heavy spending ahead.

Take alternate route to your final destination.

>> We made it to our goal.

>> Thanks to my Road to Financial Freedom App.

>> Download The Road to Financial Freedom App and start cruising your financial destination today.

♪♪ >> My name is Raelyn, and I work at Nevada City Chocolate Shoppe.

♪♪ We sell homemade dipped chocolates, candies, sodas, ice cream, fudge.

My favorite treat is probably the Nevada City Gold because it's so creamy and crunchy and delicious.

>> Ahh!

>> Some of the responsibilities are working the cash register, restocking, making chocolates, and even sometimes cleaning.

I also get to sample lots of sweet chocolates.

[ Laughs ] I get paid around $10 an hour.

Having a savings goal reminds me not to spend or have impulse purchases.

So what I do with my money is I deposit the money into my account, or I can give my cash to my parents, and they can deposit it in their bank and then transfer it to mine.

I have an online banking account.

I check my balance anytime I want just from a click of a button on my phone, and it's there anytime I want it.

My perception on money is totally different now because it's my hard work and time, and I think I should save that.

It is hard and tempting to spend my money because there's a lot of cute things I want, but I just snap a picture of it, and I think about it, think about it, think about it, and if I really, really want it, I tell my parents.

I say, "Okay.

I really want this item," and I will get it, or I just say, "I don't really need it," and I can save my money on something bigger.

Another thing I think about is how long it takes me to work for that item.

Say it's $100.

That takes me 10 hours of my time to get that shirt, jeans, whatever it is.

I also love seeing my balance building in my phone and see how much money I have each day.

My financial goal is to have around $10,000 saved by the time I graduate high school.

It would take probably a year if I work consistently, so it all depends on my free time and do I really want to spend my free time?

I could spend $20 here and there, but kids should save money now so they have an independent future and have money there when they need it and have an independent life.

>> Hooray!

[ Cheers and applause ] >> And Amanda is still in the lead on The Road to Financial Freedom.

>> Liban, you're up.

♪♪ [ Computerized beeping ] >> Come on.

What's it gonna be?

♪♪ >> Oh, cool.

>> Oh, good!

>> Yeah, yeah!

"Avoid Get Rich Quick Schemes.

Advance 4 Spaces."

>> Financial pitfalls are everywhere, and there is no faster way to end up in a financial fender bender.

>> All right, Amanda.

Your turn.

♪♪ [ Computerized beeping ] >> Come on.

♪♪ >> "Avoid Get Rich Quick Schemes.

Advance 4 Spaces."

>> Nice.

>> Close call.

If there's one thing to remember on The Road to Financial Freedom is that there are no shortcuts.

>> All right, Liban.

You're up.

♪♪ All right, all right, all right.

Go.

[ Gasps ] "Make Monthly Deposits to your Roth I.R.A.

Retirement Fund.

Advance 5 Spaces."

There you go.

>> Now, a Roth I.R.A.

is a type of retirement account that's really good for young people to save from a young age.

>> And if you're under 18, you can set up a Custodial I.R.A.

with your parents.

>> All right, Amanda.

You're up again.

♪♪ >> Come on.

>> Come on, come on, come on.

>> Something good.

>> "Reinvest Your Earnings.

Advance 4 Spaces."

Awesome!

>> Speaking of reinvesting, here are two women who have reinvested to keep their financial plan blemish-free.

♪♪ >> Hi, I'm Madison.

>> And I'm Mallory.

>> Both: And we are Angels and Tomboys, and together we are planning our financial future.

>> Angels and Tomboys is a beauty and body-care line for 'tween and teen girls.

We sell body lotion, body spray, and novelty soap.

For our body lotion, we have names like Watermelon Funk.

>> Watermelon Funk smells like watermelon on a hot summer day and green apples smashed together.

>> And then we have Candy Star Glam.

>> Candy Star Glam smells like bamboo fruit and cherry.

>> We also have Frozen Hot Chocolate.

>> Frozen Hot Chocolate smells like s'mores and chocolate mixed together, and it's my signature product.

>> We got the idea because we would always be in our mom's stuff just mixing together, and her stuff would either be too expensive, too strong, or too flowery.

Our business is going really well.

We have actually exceeded our goals.

>> Our goal was to sell 1,000 units of body lotion and body spray, but, instead, we sold 2,000 units of body lotion and body spray.

>> If you want a great business... >> And a great life... >> Both: Half up.

♪♪ >> Our mom is our momager, so she manages everything dealing with our money and our finances.

>> Our mom uses Quickbooks.

It's basically a financial software.

It organizes our money.

It manages what comes in and then how much goes out.

>> ♪ You got to put half up ♪ Yay!

Whoo!

Half up!

Half up!

>> Madison!

Madison!

You're embarrassing me.

♪ First get a business plan ♪ ♪ Then do it like this ♪ >> [ Whispering ] ♪ Half up, half up ♪ Half up is our financial plan.

We take whatever we make and put half into our company, and then, whatever's left over, we split that between me and Mallory.

From that, we take half and put it up in another savings account like for college.

>> If we make $100, we will take $50 for ourselves and then we'll take $50 into the company.

>> Half up!

>> Half up personal.

>> And half up business.

>> We have business and personal plans.

Our business plans are to eventually get into other stores and start our own store, and then for our personal plans would be starting other companies after this one and getting into college.

♪♪ We really don't have any challenges.

We're sticking to our half-up plan because we know how important it is to save up money.

My advice to kids who are starting their financial plans would be to start now.

I'm more Angel.

>> And I'm more Tomboy.

>> Both: But together, we're Biz Kid$.

♪♪ >> Are your side jobs paying off and leaving unsightly piles of cash all around your house?

Then you're ready for the Deluxe Money Vac.

Money Vac slurps up those piles of cash and moves into higher-interest investments.

>> Hey!

What are you doing in my house?!

>> I'm helping to move your money to higher-interest investments.

>> I'm calling the cops!

>> I was just trying to help!

>> The Money Vac -- when you need to move your money to higher-interest investments.

>> ♪ L-L-Listen ♪ >> Are we doing this?

>> Uh... >> Hey, we're the Finance Boy$, and today we're talking about retirement.

>> It's like quitting work... forever.

>> Yeah, dude!

Our smart Uncle Stan did that when he was 34 -- saved up enough money to do whatever he wants for the rest of his life.

>> I think they get it, but how are they supposed to save up that much money?

>> Let me check my script notes here.

Our first note says, "Develop a financial plan with short-, medium-, and long-term goals, and stick to it."

>> A plan?

Goal?

What -- What's that?

>> Hold it.

"Spend less than you make and save up a separate emergency fund."

>> So, like, not spending money on things that you haven't budgeted for?

>> Like your beef-jerky bin?

>> Don't make this about the beef-jerky bin.

>> Okay, third note.

"Avoid financial pitfalls."

>> What's that mean?

>> Remember the time we invested in the, uh... [Whispering indistinctly] >> [ Yi-Yi-Yi! ]

>> Okay.

That's all the time we have for today, but we'll see you next week on "The Finance Boy$."

>> Hello.

Penny here.

Want a strong financial future?

Learn to compound money like me.

When you've saved up enough money, move some of it into investments with compounding interest to make more money.

Your money can grow more money, and then it will grow again and again and again.

And then you let it keep growing and growing, and then you let it grow some more, and then you let it grow even bigger.

There's really no end to how much money your money can grow.

>> We're back.

Ah.

Oh.

>> Oh, wow.

Speaking of saving up, ever heard of spend, save, share?

Well, this girl has.

>> Hey, Biz Kid, I'm dancing my way to financial freedom.

[ Twinkle! ]

♪♪ My name is Michaela, and I am a ballet dancer.

I dance at Boston Ballet School and also do another smaller dance studio on the side.

♪♪ I think it's important for kids to have a financial plan for the future because once they're grown up, they need to have a sense of what the value of their money is and how to be responsible with it.

My dad, he was always very, very organized with his money and kept everything just so orderly.

Like, I think that's really important is knowing where your money's going and with both my mom, as well, they've just set that example to be very responsible with their money.

It's really important to pass that message along to everyone.

[ Pig oinks ] I have a financial plan.

I believe that it's important to divide your money up equally into three parts.

When I get money, I have this philosophy of save, spend, and share.

[ Twinkle! ]

For "Save," I put my money into my bank account, which I opened two years ago.

For "Spend," I'm usually very frugal with my money, but there are sometimes where I go online, and I want to buy something, like a leotard.

[ Computer beeps ] For "Share," I like to share my money with others.

For example, during my bat mitzvah last year, which is a Jewish celebration for children becoming Jewish adults, I decided for my mitzvah project, I chose to donate to Heading Home, which helps homeless people in the Greater Boston area.

It makes me feel really happy to know that I'm impacting someone and to know that, in a small way, improving their lives.

♪♪ My financial plan will provide me with structure to reach my financial goals, which are being grateful, generous, stable, and smart.

My financial plan is simple -- save, spend, and share.

♪♪ >> ♪ I spend too much cash ♪ ♪ Got nothing in my bank ♪ ♪ That's what tellers say ♪ ♪ Mm-hmm ♪ ♪ That's what tellers say ♪ ♪ Mm-hmm ♪ ♪ I go buy too many shoes ♪ >> Ha ha!

>> ♪ But it's giving me the blues ♪ ♪ So I need to change my ways ♪ ♪ Mm-Mm ♪ ♪ I need to change my ways ♪ ♪ Mm-Mm ♪ ♪ But I keep spending ♪ ♪ Can't stop ♪ ♪ Won't stop shopping ♪ ♪ It's like I got this 50 in my purse ♪ ♪ Sayin' it's gonna be payday ♪ ♪ 'Cause the spender's gonna spend, spend, spend, spend, spend ♪ ♪ And the money's gonna go, go, go, go, go ♪ ♪ Baby, I'm just gonna save, save, save, save, save ♪ ♪ I save it up ♪ ♪ I save it up ♪ ♪ I'll never miss a bill ♪ ♪ Not even a meal ♪ ♪ And that's how it should be ♪ ♪ Mm-Mm ♪ ♪ That's how it should be ♪ ♪ Mm-hmm ♪ ♪ I'm saving all the dough ♪ >> ♪ Saving all the dough ♪ >> ♪ Watching all my dollars grow ♪ >> ♪ All my dollars grow ♪ >> ♪ And soon it's gonna show ♪ ♪ Mm-Mm ♪ ♪ Soon it's gonna show ♪ ♪ Mm-Mm ♪ ♪ Now I keep saving ♪ ♪ Can't stop ♪ ♪ Won't stop earning ♪ ♪ It's like I got these voices in my mind ♪ ♪ Saying you better save, all right ♪ ♪ 'Cause the spender's gonna spend, spend, spend, spend, spend ♪ ♪ And the money's gonna go, go, go, go, go ♪ ♪ Baby, I'm just gonna save, save, save, save, save ♪ ♪ I save it up ♪ ♪ I save it up ♪ ♪ I, I ♪ ♪ I save it up ♪ ♪ I save it up ♪ ♪ I, I ♪ ♪ I save it up ♪ ♪ I save it up ♪ ♪ I, I ♪ ♪ I save it up ♪ ♪ I save it up ♪ ♪♪ [ Cheers and applause ] >> All right, Liban.

You're up.

♪♪ >> Come on, come on, come on.

So close.

♪♪ >> "You Remember to Save, Budget, and Avoid Financial Pitfalls.

Head to Financial Freedom"!

>> All right!

Whoo!

>> That's how it's done!

All right!

Okay, okay, okay.

Amanda, let's see whether you can head to financial freedom.

♪♪ [ Computerized beeping ] ♪♪ >> "Stick to Your Financial Plan."

Head to Financial Freedom"!

All right!

You made it!

>> Nice!

Well, it looks like we have two winners, but what have they won?

>> Hold on!

Hold on!

>> Ohhh.

>> I came with giant checks.

You guys like giant checks?

>> Yeah.

>> All right.

We got one for Liban... >> All right.

>> ...oh, and one for Amanda.

There you go, Amanda.

>> All right!

Well, that's our show.

>> Keep an eye on The Road like these two did, and you'll get to financial freedom, too.

>> See ya!

>> Bye!

[ Cheers and applause ] ♪♪ >> ♪ Come on, come on, Biz Kid, come on ♪ ♪ Come on, come on, Biz Kid, come on ♪ ♪ Come on, come on, Biz Kid, come on ♪ ♪ Come on, come on, Biz Kid, come on ♪ ♪ Come on, come on, Biz Kid, come on ♪ ♪ Come on, come on, Biz Kid, come on ♪ ♪ Come on, come on, Biz Kid, come on ♪ ♪ Come on, come on, Biz Kid, come on ♪ >> ♪ Biz Kid ♪ >> Yeah!

All right, all right.

>> ♪ Biz Kid ♪ >> ♪ Biz Kid ♪ >> ♪ Biz Kid ♪ ♪♪ >> What?

>> ♪ Biz Kid ♪ >> ♪ Biz Kid ♪ >> ♪ Biz Kid ♪ >> ♪ Uh-huh ♪ >> Hey.

We're the Biz Boy$.

>> And we're lost on the set of "Biz Kid$."

>> You're not supposed to tell them that!

>> I'm sorry.

If you want to learn more about finance -- >> Or just see more of us, go to bizkids.com.

Check out tons of super sweet educational videos about handling money.

>> Aw, yeah.

[ Bell rings ] >> Production funding and educational outreach for "Biz Kid$" is provided by a coalition of America's credit unions, where people are worth more than money.

A complete list of individual credit union funders is available at wxxi.org.

>> Hooray!