Your Guide to Financially Intelligent Parenting
In Part One we examined four of the beliefs of financially intelligent parents: Financially Intelligent Parents Are optimistic about their ability to change money behaviors. Financially Intelligent Parents value the difference between financial savvy and financial intelligence. Financially Intelligent Parents think long and hard about the meaning of money in their lives. Financially Intelligent Parents [...]
After our second book, The Financially Intelligent Parent, was released, we got a lot of questions about just what is a “financially intelligent parent?” Were we talking about a parent who knew how to balance her checkbook and make good investments in the stock market? Or was it something else? Our answer is that it [...]
In the real world, you can be staggeringly eloquent about fiscal responsibility and tell spellbinding stories about money, and your child may not hear a word you say. As much as you may want to talk about money issues, your children may not be prepared to listen. As a result, parents must be alert for [...]
In our last column, we began sharing some ideas when it comes to helping your kids connect money and values. Here are some more. Help your children understand the difference between using money for self worth and using money for self fulfillment. Over the years, we have worked with literally thousands of [...]
Because money is so loaded with meaning for most of us, it is not unusual for our behavior with money to be in conflict with our other values. Using money to buy things because we’re depressed and want to feel better is a classic example of money values in conflict. Depression is the [...]
What do Billie Jean King, tennis super-star Venus Williams, John Lennon and Bill Walton, UCLA All-American and NBA star have in common? They all attribute their success to someone in their life who was a role model. As a parent, you are your child’s first and often most important role model, especially when [...]
Mary Pipher, a well known clinical psychologist, has observed that that the media rather than parents are raising children today. In too many cases, she is correct! Advertisers spent over $200 billion in 2001, or a little over $2,000 a year to reach each family in America. They were not just trying to reach you; [...]
Psychologists and financial writers like referring to money as the last taboo. In 1913, Freud commented that money questions are treated “in the same manner as sexual matters, with the same inconsistency, prudishness and hypocrisy.” Today, everyone seems to be talking to their kids about sex: a search under “children” and “sex education” on Amazon.com [...]
In the 1950s, psychoanalyst Erik Erikson identified a sequence of eight developmental stages that we all go through from birth to old age. Five stages occur during childhood; successfully completing them contributes to healthy personalities. The trust stage is from birth until about age two. A child’s task is to develop a view of the [...]
In Part Two of this series, we introduced the concept of money scripts. If you fight with your spouse about money, it may be that the two of you are reading from different scripts based on different values you learned as children. The fight is really over the psychological issues and the [...]
“Helping families cope psychologically is essential for developing the refined financial intelligence most clients are seeking today.” –Eileen Gallo, Ph.D.
Eileen Gallo is a licensed psychotherapist in private practice in Los Angeles, where she assists individuals and families with the psychological and [...]