How an Allowance Can Prevent Your Teenager from Breaking an iPhone – AGAIN!


How an Allowance Can Prevent Your Teenager from Breaking an iPhone – AGAIN!   What makes a great neighborhood party guest? The neighbor with the scoop on local gossip? A foodie willing to share the best new restaurant? A fellah with thoughts on how to keep kids from busting their pricey smartphones? Beyonce?   Although […]

It Won’t Make You Happy: Advice from a Reformed Spending Junkie


I’m a reformed spending junkie. Back in the 1980s, I made routine runs to the Willowbrook Mall in Wayne, New Jersey, to buy pens at the Koenig Art Emporium. We actually went to Wayne initially to play arcade classics like Rampage, Gauntlet and Hat Trick, but we always ended up at Koenig, minus many quarters. […]

3 money-smart skills you should teach your child earlier than you might think

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  Start financial literacy lessons early — and I don’t mean as a Freshman in high school. Research suggests you should teach kids to be wary of consumer products and spending from a very young age — early elementary or even preschool.   “Parents’ influence on their children’s understanding of money management begins early…before they […]

A Strategy to Minimize Impulse Purchases


  “Delaying consumption does not drive people to unmitigated self-denial. Rather, it drives them to maximize their happiness, whatever form that takes.” from Happy Money   Two big themes in this blog, delaying consumption and happiness, are inextricably tied. As Elizabeth Dunn and Michael Norton note in their terrific book, Happy Money, research has shown that […]

Kids Do What We Do: Restraint and Financial Education for Kids


  “We are NOT living in a 300-square-foot apartment,” noted my wife this morning. “Of course not, honey,” I noted. “That was for a couple. We’ll need 600 for our family of four.” She wasn’t amused, although we both agreed that the video of the intrepid couple living in their 309-square-foot dream home was pretty cool. […]