Psychological Schemas & Spending: Children’s Birthday Parties

When our first daughter was very young–not quite two years old–we attended our first-ever birthday party for a three-year-old. (I recently talked about this experience on the Afford Anything podcast with Paula Pant). We went as a family of three. It was 2:00 in the afternoon on a Saturday. We arrived and were somewhat taken[…]

Financial Success & A Mindset of Control

Imagine this: it’s the day after Halloween, and you are about to enter your local big-box store retailer. EVERYTHING about the store flashes “SALE!” Who or what is in control of your actions in this situation? Let’s consider two different mindsets and possible outcomes related to how we might approach our shopping trip in this[…]

Patterns of Wealth Experiences

Do you see patterns in your spending, saving, and investing behaviors that mirror those of your parents? Or, have you changed because, perhaps, their behaviors didn’t provide the best illustration of how to successfully manage finances? What types of parental experiences are positively related to a child’s future net worth? What sets of experiences would lead[…]

Not Ready for The Real World

I know elementary school teachers, coaches, and your parents told you that all that matters is that you do your best. Unfortunately, they all lied to you. The professor who wrote this was responding to a fictional (albeit realistic) scenario: how would you respond to a student who asked for a grade change on a[…]

Bittersweet Transition

A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty. – Winston Churchill Summer is winding down here in the South. In a few days, kids will be leaving the pools, playgrounds, and backyards for desks, hallways, and classrooms. Some lament the return to routine and early mornings and traffic, while[…]