3 things I learned while teaching my kids money smarts

first_imgThere is Very Little that We Truly NeedMy kids chide me about my old car — a 2002 Honda CRV. Following soccer practice, my daughter asked why I don’t get a new car (like that other soccer parent just did)? She proceeded to unwittingly undermine her case by removing her shoes and socks, revealing a fetid stench that reminded me of my days on the famed turnpike of my home state, New Jersey. I looked back at her, “You treat my car like a hamper and I certainly don’t need a new one of those.” Plus, the car still hasn’t hit 100k miles. It’ll probably run another fifteen years. I winked at her, saying, “Take care of this baby. She’ll be yours before you know it.”Fact is, I’m not a car guy. That’s probably because my dad wasn’t a car guy either. My first car was his old beater that my friends and I affectionately referred to as “the heap.” I thank my dad, though, for not passing on the “car guy” gene. I spend my time figuring how to not drive my car. You may have heard of Los Angeles traffic? It’s all true! Any day out of a car is a better day for me.It was actually in teaching my kids one of the core money-smart skills — distinguishing between needs vs. wants — that I began to reflect on my feelings about cars. There is so much “want” involved once you get past the basics of four wheels and a steering wheel. And really, beyond the obvious things — clothes, food and shelter — there really isn’t much else any of us need. Sure, there are certain “conditional” needs, such as a car for a long commute. But, they’re conditional because they can be remedied. For example, by changing jobs to shorten the commute, the car issue can be resolved. We convince ourselves that certain items are needs when they are not. Another good example — fancy smart phones. The same daughter who made fun of my car actually had some sage advice for me when I broke my iPhone and innocently noted that I needed to replace it. She looked at me sternly and quipped, “Dad, you don’t NEED an iPhone.” Touché, young padawan. Seems as though my kids have helped me as much as I’ve helped them. The Rush of Excitement You Get from Spending is FleetingThe spigot of stuff opens quickly when you’re a parent. So much so that I even wrote a children’s picture book about it — Joe the Monkey and Friends Learn about Spending Smart — to try and teach kids to avoid stuff (Check out my CU Insight piece about reducing stuff). If you’re not careful, every nook and cranny of your house becomes filled with new items when you become a parent. You can tidy and donate as much as you want, but if you don’t address the heart of the problem — inflow — you’re destined to live a life of overwhelming plenty.tijjiWhen I moved to Los Angeles many years ago, I remember a new friend talking about the importance of having the “finer things.” A Movado watch. A $500 sportcoat. Corinthian leather car seats (seriously — remember when that was a thing?). I bought most of these things. Of course, you know I’m not a car guy, so I did avoid the last one. The purchasing “highs” were so fleeting. After about a week, the objects were part of my baseline existence. The thrill was gone. I certainly wasn’t any happier. In fact, I just started looking for my next hit. Talking to my kids and trying to gird them against the dangers of chasing the “retail rush” has increased my self-awareness and helped me dramatically reduce my own inventory of stuff. Thanks, kids! Goals are PowerfulSaving for a goal is a very important core money-smart skill your kids should learn. Teaching my kids to set and save for goals has helped them learn a powerful life skill. Doing so connects them with the growth mindset that Carol Dweck describes in her seminal book, Mindset. “Growth mindsetters” believe that achievement comes from effort. Our traits are not fixed. We can always improve.Seeing these lessons carry over to non-monetary realms was gratifying. My younger daughter had saved money for a few goals. Then, she turned her goal-setting mindset to her chosen sport — soccer. She set a goal for her team to win the State Cup. Her team made it to the semifinals. It was an incredible run. Do you think falling just short of the cup taught her that goal-setting was a failure? Far from it. Getting that far — many rounds further than the previous year — was a massive accomplishment. Setting the early goal was key. Soccer is a team sport, so she didn’t entirely control the outcome. But, she played at the top of her game and setting the goal drove her high level of achievement. Seeing her goal written on the wall helped me recommit to my own goal setting. At the beginning of the year, I set a goal to finish a first draft of a book about helping families learn to become money comfortable. Now I’m just a few weeks from releasing that book.Thanks again to my two wonderful daughters for teaching me as much as I hope I’ve taught them. 83SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,John Lanza John Lanza is the Chief Mammal of Snigglezoo Entertainment, and Creator of The Money Mammals. John created The Saving Money Is Fun Kids Club for credit unions nationwide and has … Web: www.themoneymammals.com Detailslast_img read more

CONCACAF Gold Cup: Christian Pulisic leads United States into final against Mexico

first_imgDefending champions the United States set up a blockbuster CONCACAF Gold Cup final against rivals Mexico after beating Jamaica 3-1.Goals from Weston McKennie and Christian Pulisic sent USA through to Sunday’s decider following a weather-interrupted semifinal in Nashville. Bradley, McKennie impressIt was a fine team display by USA. Not short of critics, veteran midfielder Bradley was cool and calm in possession with his passing a clear highlight. Schalke’s McKennie, meanwhile, showed why he is so highly rated with a goal and a couple of defense-splitting balls.Jamaica can hold heads highFor much of the game, Jamaica was outclassed. But​, despite limited resources compared to its USA counterparts, it made it tough for the six-time champions just like it did in the 2017 final.What’s next?USA will look to retain its crown again Mexico in Chicago on Sunday, while Jamaica can look ahead to the CONCACAF Nations League — starting against Antigua and Barbuda on September 6. Women’s World Cup 2019: Full bracket, dates, times, TV channels, results for every match After McKennie’s early opener, Wednesday’s game was stopped for one-and-a-half hours due to lightning, but the US was not to be denied when the clash resumed in the 16th minute, with Pulisic doubling the lead seven minutes into the second half.USA did concede its first goal of the tournament as Jamaica substitute Shamar Nicholson set up a nervy finale with 21 minutes remaining but Pulisic capitalized on another rebound to make sure of the result in the 87th minute. Related Newscenter_img Lionel Messi blasts ‘bulls—’ refereeing after Argentina’s Copa America loss Goal @USMNT!!! Andre Blake gives a rebound off of Morris’ shot and Christian Pulisic buries it in! 2-0 USA! #GoldCup2019 #ThisIsOurs #JAMvUSA pic.twitter.com/s9ZTamNzY1— Gold Cup 2019 (@GoldCup) July 4, 2019It was a rematch of the 2017 final won by a Bruce Arena-led USA and the hosts burst out of the blocks and were relentless in attack, with Jamaica goalkeeper Andre Blake preventing a certain goal by somehow denying Paul Arriola from point-blank range in the fourth minute.But the USA was not to be denied five minutes later as Bradley picked out Reggie Cannon before Jozy Altidore laid the ball onto the oncoming McKennie, who fired past Blake.However, the USA’s momentum was abruptly halted by a lengthy delay due to severe weather in the 16th minute and the temporary suspension aided Jamaica.Jamaica emerged from the delay with renewed energy and looked far more threatening, while the United States was disjointed and lacked rhythm.The halftime interval provided USA with the chance to regroup and the Americans did just that as they moved 2-0 ahead through Chelsea-bound Pulisic in the 52nd minute.Goal Jamaica !!! Shamar Nicholson with the textbook header after a great ball from Leon Bailey! Jamaica cuts the lead in half, 2-1 in Nashville! #JAMvUSA #GoldCup2019 #ThisIsOurs @jff_football pic.twitter.com/pYOGwuKNRZ— Gold Cup 2019 (@GoldCup) July 4, 2019Morris latched onto a McKennie pass and managed to get a shot off, with Blake only parried the ball straight into the path of Pulisic, who tucked away the rebound.After Gyasi Zardes wasted a great chance for USA, Jamaica’s Nicholson headed a Leon Bailey cross into the net to pull a goal back for the 2015 and 2017 runners-up, only for Pulisic to pounce on another rebound with three minutes remaining.Another final for USAAfter the pain of missing the 2018 World Cup, USA’s rebuild under Berhalter continues to gather pace. Mexico stands in the way of back-to-back Gold Cup triumphs in the first final showdown between the nations since 2011.last_img read more