Purposeful Allowance, What’s “Free” Is Not, Being vs Becoming and Notes and Quotes from Atomic Habits

Money-Smart Monday

with John Lanza

Hello, friends,

This week’s topics feature a mix of the practical and the philosophical. I hope you enjoy them!

A simple, well-communicated idea

Parents often object to allowance as a “handout.” I do too. Which is why this short audio explanation from podcast guest Will Rainey is helpful.

He and his wife increased their eight-year-old’s allowance, along with her responsibility, to help her learn to make smart(er) money choices.

(Will is full of useful insight. You might enjoy our full conversation.)

A concept our kids need to know

We’re all part of a worldwide experiment, feeding ourselves and our kids to the social media behavior modification machine.

So digital literacy expert Diana Graber created Cyber Civics and Cyberwise to help us help our children discover how to use online tools safely and productively.

In this short clip, Diana offers ways we can engage our kids to help them understand the immense value of attention, the currency we redeem for “free” online content. (You can listen to her full episode here.)

Ultimately, the big danger is that we give up our agency. The following quote I recently heard from a Joseph Stalin scholar echoes this concern:

“Authoritarianism is the ability to galvanize people to use their own agency to undermine that very agency.”
—Stephen Kotkin

Both our attention and our agency are valuable.

Two great quotes that go great together

“I think everybody should get rich and famous and do everything they ever dreamed of so they can see that it’s not the answer.”
—Jim Carrey, actor

Carrey’s assertion pairs well with this one:

“Being is very different than becoming…we often find out that what we thought we wanted before we got it is no longer what we really want once we have it.”
—Jason Zweig, author

More ideas I’d like to share

➡️ My notes and quotes from Atomic Habits
➡️ You can’t pick winning stocks.
➡️ Find out what you’re wrong about

As always, enjoy the journey!

John,
Chief Mammal

📗 Get The Art of Allowance (for parents)
📚 Get the “Share & Save & Spend Smart” series (for kids)
🫱🏻‍🫲🏽 Become a partner (for businesses)

P.S. Please consult with a financial or investment professional before making any decisions that might affect your financial well-being.

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