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  • money personality
    answers The first question asked you to determine which of the three dimensions was most important to you If you circled a you re into acquisition Filed Under Financial Literacy Financial Reflection Tagged With acquisition couples credit cards finances money money management money messages money personality responsible spending Couples and Money Understanding Your Relationship With Money Part I This entry is part 1 of 3 in the series Couples and Money Understanding Your Relationship With Money John Kenneth Galbraith an influential Canadian American economist once observed that most things in life automobiles mistresses cancer are important only to those who have them Money in contrast is equally important to those who have it and those who don t In our prior columns we have examined some of Filed Under Financial Literacy Financial Reflection Tagged With acquisition couples money money management money messages money personality responsible spending Money and Child Development Part II In Part One of this article we looked at the first two stages of child development and the corresponding parental money tasks In Part two we are going to look at the other three stages as well as noting some warning signs Initiative During the initiative stage kids become curious about many things including money Filed Under Children and Money Tagged With allowance bills children credit cards financially intelligent parent money money management money personality patterns responsible values Money and Child Development Part I 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 completing them successfully 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 Filed Under Children and Money Tagged With children

    Original URL path: http://www.galloconsulting.com/Financially-Intelligent-Parenting/tag/money-personality/ (2016-04-28)
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  • work ethic
    ethic Helping Our Children Develop A Work Ethic Part II This entry is part 2 of 3 in the series Helping Our Children Develop A Work Ethic In Part One we looked at the importance of helping our kids to develop a work ethic We explained that there are three areas that provide parents with opportunities to teach kids to be industrious and responsible for their work Chores School and Jobs In this Part we are going to look at the role Filed Under Children and Money Chores Financial Literacy Modeling Values Tagged With children financially intelligent parent money responsible values work ethic Helping Our Children Develop a Work Ethic Part I This entry is part 1 of 3 in the series Helping Our Children Develop A Work Ethic Kids aren t naturally diligent or naturally lazy A work ethic is learned behavior and as a parent you re the one who teaches your kids to acquire it If you re like most parents you want your children to work hard and derive meaning and satisfaction from what they do Unfortunately you may be sending them another Filed Under Children and Money Chores Financial Literacy Modeling Values Tagged With allowance children financially intelligent parent responsible values work ethic The Ten Worst Things to Say to Your Children About Money Part I This entry is part 1 of 2 in the series The Ten Worst Things to Say to Your Children About Money As parents we want to communicate openly and honestly with our kids about money so that they won t experience problems financial or emotional later But there are some words that should never leave our mouths What and how you communicate to a child about money determines not just if he s fiscally responsible but Filed Under Children

    Original URL path: http://www.galloconsulting.com/Financially-Intelligent-Parenting/tag/work-ethic/ (2016-04-28)
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  • Couples and Money: Understanding Your Relationship with Money – Part III
    proposals by telling her that she is as irresponsible with money as her mother does not make for good compromises Watch your body language Rolling your eyes or sighing loudly suggests your spouse s position is worthless Even after you both agree on the three basic money messages your childhood values will still have a powerful influence on your behaviors making conflict possible Once again compromise comes in Your spouse wants to give your daughter a car on her 16th birthday You are opposed When the two of you disagree over a money issue you need to ask yourselves whether the way you are looking at the issue is based on fear or love You may fear that buying your teenage daughter a car on her 16th birthday will spoil her forever Your spouse may fear that the neighbors will think you are tightwads if you don t give her the car Fear makes it difficult to compromise Looking at the issue based on love means asking what is in the best interests of your daughter It s much easier to reach an agreement when you approach the issue with your child s best interests in mind We also recommend that couples try to share financial responsibilities Divide financial chores based on your talents and interests One spouse may be better at dealing with mistakes on bills like not getting credit for returned merchandise while the other might be better at securing bids to have the bathroom painted A spouse who makes more money than the other should not necessarily receive the lion s share of financial responsibility Just because you make more money doesn t mean you re a better money manager In fact we know families in which the breadwinners are so focused on work that they lack the time and energy for money management responsibilities Sharing these responsibilities sends kids the message that money management is something both Mom and Dad and more specifically women and men are equally capable of handling A few years ago we worked with the client we ll refer to as the Clothing Concealer She was married with two teenage daughters She had a responsible middle management job with a large corporation She loved to buy clothes but early in her marriage she had fights with her husband who felt that she was spending too much money Several years ago she obtained a credit card in her own name and had the statements sent to her office The Concealer would go shopping sometimes with her daughters and use the secret credit card But she couldn t wear the new clothing because her husband would notice Over time she accumulated thousands of dollars worth of new clothes and hid them in a closet in the spare bedroom This hiding behavior is more common than you might think MSN Money report that a survey by British online bank Cahoot com found that about 75 of women admitted to hiding money compared with 53 of

    Original URL path: http://www.galloconsulting.com/Financially-Intelligent-Parenting/financial-literacy/couples-and-money-understanding-your-relationship-with-money-part-iii/ (2016-04-28)
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  • Articles
    eight developmental stages that we all go through from birth to old age Five stages occur during childhood completing them successfully 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 Filed Under Children and Money Tagged With children money money personality patterns values Kids And Charity Becoming A Charitable Family Part II As important as it is to model giving behaviors it s just as important to provide kids with a context for a given charitable act and help them see its real world impact Context means giving your kids a reason why they should get involved This doesn t just mean explaining why but choosing a particular activity Filed Under Charity Children and Money Modeling Values Tagged With allowance charity children financially intelligent parent responsible values Kids And Charity Becoming A Charitable Family Part I As much as we want our children to be good money managers to use their allowances wisely to balance a checkbook and so on it s equally important to provide our children with more than basic money skills Our kids need to grow up to be giving human beings in the best sense of Filed Under Charity Children and Money Modeling Values Tagged With allowance checkbook children finances money responsible values Helping Our Children Develop A Work Ethic Part III This entry is part 3 of 3 in the series Helping Our Children Develop A Work Ethic Schoolwork and extracurricular activities are two of the three basic building blocks that help your children develop a work ethic The other is family chores When it comes to schoolwork let s start off with a surprising truth Pressuring your children to get straight A s does not develop a work ethic It may increase their stress Filed Under Children and Money Chores Financial Literacy Modeling Values Tagged With children responsible values work ethic Helping Our Children Develop A Work Ethic Part II This entry is part 2 of 3 in the series Helping Our Children Develop A Work Ethic In Part One we looked at the importance of helping our kids to develop a work ethic We explained that there are three areas that provide parents with opportunities to teach kids to be industrious and responsible for their work Chores School and Jobs In this Part we are going to look at the role Filed Under Children and Money Chores Financial Literacy Modeling Values Tagged With children financially intelligent parent money responsible values work ethic Helping Our Children Develop a Work Ethic Part I This entry is part 1 of 3 in the series Helping Our Children Develop A Work Ethic Kids aren t naturally diligent or naturally lazy A work ethic is learned behavior and as a parent you re the one who teaches your kids to acquire it If you re like most parents you want your children to work hard and derive meaning and satisfaction from what

    Original URL path: http://www.galloconsulting.com/Financially-Intelligent-Parenting/articles/page/2/ (2016-04-28)
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  • Articles
    children expenses finances money money management money messages responsible values wealth Financial Reflection Part III This entry is part 3 of 3 in the series Financial Reflection In Part Two of this article we introduced the Family Money Diary as a means of helping our children learn to think reflectively when it comes to money Let s look at Eric and Jenna and see how they use this technique Eric and Jenna have two children a daughter Monica age Filed Under Children and Money Financial Reflection Modeling Values Tagged With children finances financially intelligent parent money money management responsible values Financial Reflection Part II This entry is part 2 of 3 in the series Financial Reflection In Part One of Financial Reflection we talked about the importance of asking your children questions that stimulate discussions designed to encourage reflective financial behaviors Important as these steps are you need to be reflective yourself Many parents don t practice what they preach at least when their kids are watching To assess Filed Under Children and Money Financial Reflection Modeling Values Tagged With children finances financially intelligent parent investment money money management responsible values Financial Reflection Part I This entry is part 1 of 3 in the series Financial Reflection When it comes to making money decisions kids are frequently impulsive In fact when it comes to making most decisions kids are usually impulsive It doesn t matter if the choice involves money food or friends they often react without thinking Children simply aren t born with the capacity for self observation and the ability Filed Under Children and Money Financial Reflection Modeling Values Tagged With children finances financially intelligent parent money money management responsible values Engaging In Difficult Money Discussions Part II In our last column we were looking at why parents have a hard time talking to their kids about money and we began looking at some guidelines to having productive conversations about money with your kids Let s continue that exploration A close relative of the why won t you question is the why can t I question Filed Under Children and Money Modeling Values Talking about Money Tagged With children college discussion financially intelligent parent money money management responsible values Engaging In Difficult Money Discussions Part I One of the most important behaviors of financially intelligent parents is being able to talk to your kids about money Financially intelligent parents understand that they teach their kids a lot about money through their modeling behavior but they also understand that they teach them even more in day to day conversations that involve money Filed Under Children and Money Modeling Values Talking about Money Tagged With budget checkbook children credit cards discussion finances financially intelligent parent money money management responsible spending values Divorce Your Children and Money Bill a 45 year old divorced father of two teen age children received a phone call from his 16 year old son Brian who lived with Bill s ex wife Brian wanted to take

    Original URL path: http://www.galloconsulting.com/Financially-Intelligent-Parenting/articles/page/3/ (2016-04-28)
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  • Articles
    alpha moms to share the console with their Filed Under Children and Money Money Stories Tagged With children money products Rent The Movie Make The Popcorn and Get the Kids Off the Couch We got an email from Sarah Bowman and Diane Phillips Shakin the creators of Kids Off The Couch Their idea is simple A bowl of popcorn and a memorable movie Like a spoonful of sugar the magic of a good film will lure kids to cultural outings that are more than typical kid fare We Filed Under Children and Money Modeling Values Tagged With children money values Young Entrepreneurs Doing Good While Doing Well Parents who over emphasize the importance of money or rewards in achieving a goal rather than the process of achievement itself run the risk of turning their children into a kind of money junkie who has no true enthusiasm for anything except more money This is not a particularly good recipe for a meaningful or happy Filed Under Children and Money Modeling Values Tagged With achievement acquisition children college entrepreneur responsible values Find Out About Your Money Personality Last year we were asked by VISA USA to help them create a money personality quiz that could be accessed through their educational website www practicalmoneyskills com Our initial reaction was a bit skeptical After all a number of pages in The Financially Intelligent Parent are devoted to the problem of credit card use and abuse by Filed Under Uncategorized Tagged With budget children credit cards financial planning money money management money personality The Banks Want Your Kids The Wall Street Journal recently ran a story about banks and other financial institutions that are starting to court young savers In the past it has been very difficult to find banks that would open checking accounts

    Original URL path: http://www.galloconsulting.com/Financially-Intelligent-Parenting/articles/page/5/ (2016-04-28)
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  • Contact Us
    more right to your inbox About Us 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 Read More Categories Charity Children and Money Chores Financial Literacy Financial Reflection Modeling Values Money Stories Talking about Money Uncategorized

    Original URL path: http://www.galloconsulting.com/Financially-Intelligent-Parenting/contact-us/#wpcf7-f575-p42-o1 (2016-04-28)
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  • Contact Us
    more right to your inbox About Us 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 Read More Categories Charity Children and Money Chores Financial Literacy Financial Reflection Modeling Values Money Stories Talking about Money Uncategorized

    Original URL path: http://www.galloconsulting.com/Financially-Intelligent-Parenting/contact-us/# (2016-04-28)
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