Today’s guest is Bill Dwight, the founder and CEO of FamZoo.com which is an online and mobile banking service designed to help busy parents teach kids good money habits. It has been featured in The Wall Street Journal, The New York Times, TIME, NPR and the New York Times best seller “The Opposite of Spoiled” by Ron Lieber (see So Money Ep: 47). FamZoo was also voted Best of Show twice (2011 and 2013) at Finovate, the premiere showcase conference for emerging financial technologies.

Bill graduated from Princeton in 1984 and has been building software ever since in areas as diverse as artificial intelligence, database systems, business analytics, online education, internet advertising, online freelancing, and, most recently, personal finance. He has held executive product development positions at Oracle Corporation and two pioneering Internet startup companies: Netgravity (acquired by Google) and Elance. Bill founded his own startup, FamZoo, in 2006 to help parents be more effective mentors to their kids for critical life skills like personal finance.

Three takeaways from our interview:

— Memories of growing up in Silicon Valley before it became the hotbed of modern technology.

— A simple trick that helps entice your kids to want to save money.

— His biggest financial mistake, when working for big companies like Oracle

If you’d like to learn more about Bill Dwight, visit his website famzoo.com and follow him on Twitter @famzoo.

One of my favorite quotes from the interview: “People with poor money habits end up subsidizing the rest of the market.” – Click to Tweet