family asset management

Good Money Values for Children

February 10, 2014

The first steps of family asset management start at home, as children are the greatest assets one can have. If children are not given the proper education for handling their financial affairs, the family will not survive beyond a generation. The “riches to rags” stories are all too common because, in general, very few parents communicated to their children the true value of wealth.

Feb+Blog+1+ImageEileen and Jon Gallo wrote The Financially Intelligent Parent: 8 Steps to Raising Successful, Generous, Responsible Children, which focused on the notion that spending patterns of parents and their own values regarding money have a profound impact on the values and priorities of their children. In fact, it helps to become more aware of the values that are being communicated to children by observing one’s spending. The spending patterns provide some splendid ideas about how to give children the message one wants them to receive. (more…)