“Working to help parents raise money-smart kids.”
I’m in the Orlando airport after my first business trip since the pandemic started. More on that below.
Welcome to another Money-Smart Monday with three ideas I hope you find worthy to share and save.
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Setting Goals: I’m excited to share my latest short essay about goal setting for kids. Setting monetary goals is a great way to introduce children to the important life skill of goal setting. It also highlights another key facet of money learning, as Morgan Housel explains in The Psychology of Money, “You don’t need to make a lot of money today in order to take advantage of time.”
Here’s another interesting perspective on the power of goals from Derek Sivers’ new book, How to Live:
Goals don’t improve your future.
Goals only improve your present actions.
A good goal makes you take action immediately.
A bad goal doesn’t.
Setting goals shouldn’t take us out of the present. For example, having your child paste a picture of his goal on his Save jar means you can reference that goal during your weekly allowance distribution. You can use the future to focus on the habit that you are helping your child to build right now.
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The New Normal: I’m about to fly home from my first talk in front of real live people since the pandemic began. Traveling is another step in the return to connecting with people face-to-face more often.
I want to thank the League of Southeastern Credit Unions for inviting Shari Storm, author of Motherhood Is the New MBA, and me to the SCUCE 2021 Conference in Orlando, Florida. We spoke to credit union leaders about “Kids These Days,” helping them better understand the importance of connecting to and engaging with kids of all ages (and their parents).
Our talk was based on our recent white paper. If you’re interested in having us come speak to your group, then please ping me back.
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Why Love Is Good for Business: I’ve been meaning to share this short essay for a while. It’s by Cameron Madill, a friend and colleague who is the founder of PixelSpoke, a Certified B Corporation. The B Corp designation means PixelSpoke is part of a movement to balance profit and purpose.
This certification also means that Cameron and the PixelSpoke team live the case he’s making in his essay — that a business can be fulfilling for its employees, its customers and the communities it serves. Businesses, of course, must be profitable and run effectively to thrive, but profit maximization doesn’t have to come at the expense of employee health, customer satisfaction and the larger community.
This approach is in harmony with self-determination theory, a concept about which I write in The Art of Allowance, which stipulates that people are looking for autonomy (freedom of thought and ideas), competence (expertise) and relatedness (connection with others).
I was glad to get back to connecting with others in person this past week, and I look forward to seeing more of you out and about as we all move forward and toward more fulfilling lives.
As always, enjoy the journey!
John, Chief Mammal
P.S. Please consult with a financial or investment professional before engaging in any decisions that might affect your own financial well-being.
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