Every Monday, I share ideas to help you and your family on the money-smart journey. I created "The Money Mammals" for kids and wrote The Art of Allowance book for parents like you. Won't you join me on the money-smart journey?
Why do we teach money like science, and where are the flying cars we were promised?
Money-Smart Mondaywith John Lanza Hello, friends, Let's dive right into this week's thoughts and ideas. Two quotes that changed my perspective"Imagine how much harder physics would be if electrons had feelings."
—Richard Feynman
"Physics isn't controversial. It's guided by laws. Finance is different. People's behaviors guide it. And how I behave might make sense to me but look crazy to you."
We teach money like it's physics. Unfortunately, humans are not electrons. We interact with money based on how it makes us feel. And we learn how it makes us feel through experiences. These quotes underscore the primary purpose of The Money Mammals. Their goal is not to teach but rather to excite children about money smarts. Joe and friends "prime the pump." Then we (the parents) set up an allowance to help our kids learn — through their own experiences — how sharing, saving and spending money make them feel. A book (and notes) I come back to often"While it's mildly disappointing that we're still without flying cars and sassy robot maids, it is more surprising that rising incomes have not led Americans to use their time in happier ways over the past four decades."
—Elizabeth Dunn and Michael Norton, Happy Money
Happy Money centers around the question, "How can we use money to make ourselves happier?" Dunn and Norton share many insightful ideas in their short, well-written, well-researched and funny book. (It's in the same vein as Daniel Gilbert's Stumbling on Happiness.) You can find out more by reading my summary and selected pull quotes. (BTW, we might be closer to flying cars than you think.) Useful learning toolsHaving a Kindle makes taking notes much easier. When I finish a book, I move all my thoughts into my Logseq note-taking system (featuring local versus cloud storage). I then use a form of progressive summarization, a technique I learned from Tiago Forte of Building a Second Brain fame. This process allows me to hone highlights, create concise summaries and share them with you, like I did with The Psychology of Money and Happy Money. I'm always looking for insightful books, so please let me know if you've done any interesting reading lately. An alternate perspective to consider"I do not like the idea of happiness — it is too momentary. I would say that I was always busy and interested in something — interest has more meaning to me than the idea of happiness."
—Georgia O'Keeffe
This idea complements the thoughts on happiness and fulfillment I shared last week. More ideas I found interesting➡️ Use AI To Clarify What Kids Buy (Thanks to podcast alum Bill Dwight.) As always, enjoy the journey! John, 📗 Get The Art of Allowance (for parents) P.S. Please consult with a financial or investment professional before making any decisions that might affect your financial well-being. Forwarded this email? Sign up here. |
Money-Smart Mondays
Every Monday, I share ideas to help you and your family on the money-smart journey. I created "The Money Mammals" for kids and wrote The Art of Allowance book for parents like you. Won't you join me on the money-smart journey?