Money-Smart Mondaywith John Lanza Hello, friends, Welcome to June. (Really? It’s June already?) On the financial illiteracy epidemicCourtney Fulmer is a partner and credit union leader (CEO of SECNY Federal Credit Union) working to remedy America’s “financial illiteracy epidemic.” Test scores sometimes paint a picture of improvement in this area, but the challenge goes far beyond data. As we discuss in this segment of our conversation on The Art of Allowance Podcast, progress involves addressing the emotional and psychological facets of money, which are often learned through experience. While we tend to teach about money rationally, we act on it emotionally. This point underscores the importance of providing our kids with financial experiences early so they can begin to understand how using money affects their emotions. It also echoes The Psychology of Money author Morgan Housel’s contention that finance is different from physics: People’s behaviors and feelings guide it. Or as physicist Richard Feynman might put it, “Electrons don’t have feelings.” Taking the money-smart journey togetherAndy Hill (of Marriage Kids and Money fame) and I covered a lot of ground in our Art of Allowance Podcast discussion. I thought you’d find this short audio snippet useful to emphasize a point I’ve found empowering: We’re on the money-smart journey together with our kids. Some of us may worry that we don’t have our financial acts fully together. (Who does?) Or that we could spend a little more wisely or improve our own Share jar contributions to charity. (Who doesn’t?) Perhaps we can be a little gentler on ourselves and accept our roles as somewhat flawed guides. Timeless wisdomKnowing other people is intelligence.
Knowing yourself is wisdom. Overcoming others takes strength. Overcoming yourself takes greatness. Contentment is wealth. Boldly pushing forward takes resolution.
Staying put keeps you in position. To live till you die
is to live long enough. Perhaps the term “timeless wisdom” is redundant. More ideas I found interesting➡️ Flow is a heartwarming animal adventure pic.
Let’s all try to enjoy the journey just a little bit more this week. Make it a good one. John,
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