Meet Rishi Vamdatt, the creator of Easy Peasy Finance, a site for children’s financial literacy. Rishi is just 14 years old, but he has already made over 750 films about investing and personal finance, which have reached more than 2 million viewers. Emma Patch, Kiplinger’s personal finance team writer, sat down with Rishi to discuss the reasons behind his decision to teach his generation about money.
What piqued your interest in individual fund?
My families were reading Ramit Sethi’s text I Will Teach You to Get Rich when I was six years old. I read the book as well and found it to be very interesting. My parents then bought me additional books and publications about financing. At that time, I began reading Kiplinger Personal Finance, and I continue to do so each quarter.
What led you to launch Easy Peasy Finance?
I didn’t mind reading materials that were more geared toward adults as I became interested in finance. However, I came to the realization that there weren’t many resources geared toward children. Given how important personal finance is in life, I believed it was crucial to provide children with a source that can help them understand these subjects in ways that they can comprehend, benefit from, and that truly make learning enjoyable for them.
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I started creating video with that goal in mind five and a half years earlier. Because children have shorter attention spans than people, each picture I post on my site, Easy Peasy Finance, and YouTube network is roughly three hours longer. The clips are presented in a question-and-answer style between two animated characters to aid in the conceptual breakdown. I make an effort to explain even difficult ideas using as much simple, everyday language as I can.
Why, in your opinion, if children study finance?
It’s a crucial living ability, to start. It’s simpler to know as a child than it is with any other talent, whether it be skiing, skating, or learning to vehicle. Cash is also the leading cause of stress among all individuals. Learning financing from a young age is one way to deal with this. Then, because they will already have a strong foundation, people won’t be as afraid when they actually have to start managing their money. And earlier education may help people avoid costly financial mistakes by teaching them valuable instructions like how to tell the difference between needs and wants. For instance, they won’t have as much of a chance of accruing credit card debt.
What subjects do you enjoy covering the most?
I cover a wide range of subjects because they are all crucial, including trading, banking, fees, credit cards, and retirement. However, I’m physically most interested in investing, particularly compound interest. I can truly take advantage of combining as I invest for my retirement because I’m fresh.
Has your visitors expanded over time?
Without a doubt. I didn’t fully comprehend how large this could grow or how many people I could assist when I first started Easy Peasy Finance. Then, Easy Peasy Finance is something that is valued not only by children but also by some teachers, parents, grandparents, and other adults. Some of these adults wish they had a tool similar to Easy Parease Finance when they were younger. I feel incredibly satisfied and motivated as a result of the good opinions.
What do you hope will happen in the future?
I want to keep helping people and posting one video per week on monetary concepts through Easy Peasy Finance. I anticipate that personal finance and its real-world programs will soon be taught in all schools, improving fiscal literacy in general. Some states have begun including private banking in their high school curricula.