“Working to help parents raise money-smart kids.”
Hello, friends!
Welcome to another Money-Smart Monday. I’ve been thinking a lot about making this holiday season meaningful, and I keep coming back to the notion that we should focus on experiences and maximize our least renewable resource, time. ⏳
During my merry musings, our kids have submitted their gift lists. They of course want stuff, as they’re still trying to find their place on the controlled consumption slider I wrote about a few weeks ago.
So my wife and I will just keep doing our best to emphasize time spent together as a good way to make the season special. Here are three Art of Allowance Podcast episodes that will help you do the same.
— 1 —
Every Day Counts: Time is an important theme of my conversation with Kennedy Reynolds, a mother of three and the Chief Content & Education Officer of Acorns.
We can think of the money-smart journeys we’re taking with our children as sets of baby steps. So if you haven’t set up an allowance system yet, then now is as good a time as any to do just that. 👍
And if your system is already up and running, then don’t forget to put that Share jar to work. There are many local and online opportunities to donate this season. Some terrific options include DonorsChoose, Effective Altruism funds or a GiveWell charity.
— 2 —
Finding Meaningful Time: In keeping with the time theme above, my discussion with Guinevere Higgins and Kelley Dennings of the nonprofit New Dream is filled with ideas to help you shift your focus away from stuff and towards experiences.
Guinevere shares her family’s annual holiday hiking ritual, and Kelly explains how she influenced her mom’s behavior by moving conversations from things to time. Clearly, impact doesn’t always have to flow down generations. Good ideas can percolate from the younger folks too. 😉
During our chat we also discuss alternative gift fairs as ways to still bask in the warm feelings of gift giving, smart and simple methods to reduce waste and why experiences need not be “big trips.”
— 3 —
Carving Out Time: Picking up on Guinevere and Kelley’s “big trip” discussion, two-time podcast guest and self-proclaimed time nerd Ashley Whillans points out in her most recent episode that research suggests short vacations may be as valuable as the long ones we’re often told are essential for our happiness.
Ludicrous airline fares curtailed my family’s plans to travel back east this season. Instead, we’re hosting a game-filled Christmas Eve (assuming Omicron remains at bay). We’re also going to do our best to hit local Los Angeles destinations that are easy to overlook. You know, those tourist destinations that you tell yourself you’ll get to at some point but never do. 🙈
However, our journey includes two teenagers who want to spend time with their friends, so we’ll see how receptive they are to our grand plans. Whatever happens, my wife and I feel the effort is worth it.
What are you doing to make this holiday season a special one?
Until next time, lean in to your own family’s journey. I hope doing so includes finding time to enjoy the holiday season.
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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