Episode 69

Published on:

9th Aug 2023

069: Tyler Nicholls - Financial Literacy, Investing in Ourselves, & Providing Value to Others

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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.

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Key Takeaways

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

Tweetable Quotes

“[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.’ Then, the kid starts accruing these ‘Kudos’ and they can decide what to do with them.” (24:45) (Tyler)

“You should be investing, but I think we often underestimate the need to invest in ourselves to improve our earning capacity.” (34:10) (Tyler)

“The greatest satisfaction I have had is in giving value to other people.” (39:24) (Tyler)

Guest Resources

Tyler’s LinkedIn

Tyler’s Email


Kudos App

Books Mentioned:

Rich Dad Poor Dad

The Go-Giver

Mindful Money Resources

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Website: https://mindful.money

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About the Podcast

Mindful Money
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.

About your host

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Jonathan DeYoe

Jonathan DeYoe is a best-selling author, speaker, financial advisor and angel investor. He is a husband, father and a practicing Buddhist. His simple underlying message brings a welcomed sense of order to financial chaos and restores a calm center to your financial life.