Blogs and Articles

The "G" word

Andrea, the mother of three year old Max, was stressed when she called me. “He’s driving me crazy,” she said, “he insists that I drop everything to look something up about the Tigris River and when I tell him that he has to wait he has the most explosive temper tantrum you’ve ever seen. Then, when I put him in a time out, just to calm him down, he writes me a note of apology, so that was sweet, but I just can’t take the irrational behavior!” Another mother, Joan, called to tell me that her daughter, Suzanna, was in danger of being kicked out of preschool for being argumentative. The most...

It’s Not My Monkey

I’m going to admit, for better or worse, that when my children (ages 23 and 28 - both of whom are married or partnered) have a problem, it causes me anxiety.  Their problem may be with work, or insurance, or with their spouse or partner.  It may be with their feelings of sadness or anger or anxiety.  It may be with finances or their car.  It doesn’t matter, because the moment I hear of it I want to fix it.  In fact, I often take on the feelings as if they are my own.  I begin internally brainstorming about how to solve the problem....

Financial Lessons for Teens

If I had to choose just one financial lesson for teens to learn before they head into young adulthood it would be the lesson of how money works in real life. In my last post, I said that I don’t believe you should pay your teen for doing chores or getting good grades. In fact, I don’t believe your teen should have to “earn” his allowance in any way. How, then, do we reconcile that with the fact that in “real life” money is earned, not just handed to you? I believe this question arises from a misconception about the definition of allowance. As I stated last time, I define allowance as...

Outside the Box

When my son came home from his first day of school this week, I asked him how it went with regard to using his AmEx PASS card to purchase lunch, since this was one of the things he was wary about when switching from cash to card to receive his allowance. “The place we went to wouldn’t take my card,” he said. “Oh. How did you handle that?” I asked. “I just borrowed money from a friend,” he replied. Ok, but how are you going to pay your friend back, I wondered. Presumably, his friend doesn’t take AmEx either! But I bit my tongue and didn’t ask. I wanted to, I really wanted to! But I...