3 Ideas to Share and Save – 024

Memo from the Chief Mammal Header

“Working to help parents raise money-smart kids.”

Hello!

For the past few years here in L.A., it feels like Independence Day begins on Memorial Day because random dudes start firing off firecrackers more than a month before July 4th. By the time official fireworks displays roll around, I’m kind of pooped of the popping.

Since I guess you’re winding down your holiday weekend, I’ll keep this edition of 3 Ideas to Share and Save short and sweet. I think you will enjoy — and hopefully will want to share — these three videos.

— 1 —

SMART Goals for Teens: I shared my essay about SMART goals for kids of all ages two weeks ago, and we released the third video in our “Good Money Habits” series for tweens and teens last week. This video is part of our brand-new ADOLESCENT$ program. I’d love your feedback (well, your teen’s feedback 😉 ) so we can continue to improve our offerings for older kids.  

— 2 —

The Opportunity Cost of College: Recent Art of Allowance Podcast guest Gene Natali provides an interesting framework for how to evaluate college choices: If you’re trying to decide between two schools, then consider the opportunity cost of investing the monetary difference in higher education versus investing that same money in the market.  

Gene’s perspective on the changing nature of education and the value of skyrocketing college costs is worth a listen. I’ve been thinking a lot about education lately, and I recently listened to this wonderful interview by David Perell about the Elon Musk-inspired Synthesis School. The education landscape is changing, and Synthesis’ collaborative, videogame-based approach is worth exploring if you have 8- to 14-year-old kids.

— 3 —

Prosperity Pictures: During her podcast appearance, money expert Ellen Rogin discussed her version of vision boards, which she refers to as “prosperity pictures.” Though my family and I are not as adept at using vision boards as Ellen, we have utilized them in the past.   

Prosperity pictures can help you paint a mental picture of what you want to achieve, and they are very much in line with the visualization techniques mentioned in the SMART goals post above and in my book for parents, The Art of Allowance.

Enjoy the rest of your weekend, and, 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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