attn:money » Ken Kaye

Credit Card Clarity

Ken Kaye — Mon, 13 Jul 2009 20:38:00 +0000

Graphic designers from the nonprofit group Design for Democracy propose a standard display form for credit card interest and fees, similar to the standard nutrition information printed on U.S. food packaging. Compared to the current fine print and deliberate obfuscation on fee statements, theirs would be a great improvement. This would be a good addition to [...]

“How to Cut Your Kids Off”: Wall Street Journal

Ken Kaye — Wed, 17 Jun 2009 20:22:10 +0000

The Wall Street Journal’s “Wallet” section notes, In addition to moving back home with the folks, some adult children are relying more and more on their parents for financial support–a situation that can put added stress on already weakened retirement accounts and strained family budgets. The short piece, illustrated with a boomerang, recommends sitting down with them [...]

Maybe NO ONE outgrows ADD

Ken Kaye — Wed, 17 Jun 2009 19:23:08 +0000

Kudos to Bryan X of ADDERWorld for his post about ADD into adulthood: It used to be believed that ADHD was outgrown, but we know better now. First it was 10% didn’t outgrow it, then it was 20% – 30%, the percentage keeps rising… soon, I believe, the percentage will be closer to 90%. I believe [...]

When Adult Kids Move Home

Ken Kaye — Tue, 09 Jun 2009 02:21:27 +0000

"If you're going to let a young adult move home, then you should at least have some rules about what's what. Blog post by Gail Vaz-Oxlade.

NYC economy hit by decline in parental subsidies

Ken Kaye — Mon, 08 Jun 2009 13:04:07 +0000

The flow of parental money that helped fuel one of New York City’s most radical gentrifications has ebbed.

Insensitive advice

Ken Kaye — Mon, 01 Jun 2009 20:15:08 +0000

Here’s an example of bad ADD advice to a 25-year-old college grad who sounds like his ADD (which may be the cause of his depression, or an additional problem) has paralyzed him with regard to work and money. The advice columnist, Salon’s Cary Tennis, is apparently clueless about adult ADD as well as arrogant in his [...]

“Neuroenhancers” and attention to money

Ken Kaye — Sun, 26 Apr 2009 16:58:52 +0000

“Neuroenhancers are perfectly suited for the anxiety of white-collar competition in a floundering economy. And they have a synergistic relationship with our multiplying digital technologies: the more gadgets we own, the more distracted we become, and the more we need help in order to focus.” So concludes a New Yorker piece this week on the increasing [...]

Motivate, Teach, Support

Ken Kaye — Fri, 03 Apr 2009 19:44:24 +0000

“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

Ken Kaye — Fri, 03 Apr 2009 19:20:49 +0000

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.

Projecting the Impact of Debt

Ken Kaye — Fri, 03 Apr 2009 19:18:28 +0000

Although Jack would like to renew the lease on his studio apartment, he is facing the fact that he is broke, and needs parental EMT: Emergency Money Treatment. He has an invitation to move into a cheaper one-bedroom apartment, sharing the rent with his younger brother. He already owes his parents $400. He owes his girlfriend, Anne, $600. He has a small monthly car payment and a moderate student loan payment, but the big problem his parents only just learned about is a growing MasterCard balance.