I think it’s an outrage that there is no place that children are exposed to basic financial concepts of savings investment, dollar cost averaging, compounding, responsible and appropriate debt management – unless they seek it out extracurricularly or in college.
Archive for April, 2009
Addressing “education loans”
Sunday, April 5th, 2009 by edsax
Are you addressing the “education loans” in the book? I find it predatory that these lenders offer what they call college loans at the rates and terms offered up.
“Trust Me” available on Amazon and Barnes & Noble
Sunday, April 5th, 2009 by Attn:Money
Here we’ll post comments and discussion that we receive from readers of the book.
Motivate, Teach, Support
Friday, April 3rd, 2009 by Ken Kaye
“How much do you need?” a father played by Jason Robards in the movie Parenthood asks his hapless son (Tom Hulce), with a look that says “… you worthless, disappointing, lying bum”—while reaching into his pocket.
As a psychologist as well as a father, I wanted a way to communicate exactly the opposite. A way to give my sons and daughters the consistent message, “You’re worthy, you’re capable of succeeding, I love you, and we’re going to help you.” A system that helps by teaching them to fish rather than merely handing them a wad of fish.
Parental Bailouts
Friday, April 3rd, 2009 by Ken Kaye
Different kinds and degrees of debt demand different kinds of intervention. But let’s begin with the general question: Is it wise to bail our adult children out of trouble they got themselves into? Or should one let them bear the consequences, so they learn?
Unless this is a long-term chronic problem, grab your bailing bucket. Absolutely. The lessons taught by overwhelming debt aren’t taught any better by letting a bad crisis become hopeless. Debt isn’t like water standing three feet deep in a basement, which has ruined the books and games stored there but will eventually flow away again and leave the owner with some cleaning up to do. It’s a rising flood, threatening to carry off the whole house—literally. Left alone, it doesn’t go away, it just gets deeper.