Blogs and Articles

Illicit dealings?

I recently asked my son how he thought things might be different this Fall, using his AmEx PASS card rather than being given his allowance in cash on a weekly basis. Deadpan, he quipped, “It’s obvious. Cash is virtually untraceable so all of my illicit dealings will now have to be under the table or I'll have to go to the cash machine and pay a fee. I’m just going to have to be more thoughtful about what I do illicitly.” So much for a straight answer! It did, however, get me thinking. One of the advantages of giving your child his allowance on a card rather than in cash is that you can...

A Parenting Expert's Response to "Why Chinese Mothers are Superior"

Since many people seem to be posting and re-posting the article by Amy Chua (Wall Street Journal, 1/8/2011) about how Chinese mothers are superior to Western mothers and appear to appreciate her point of view, I decided to share my thoughts on her article. As a well-known parenting expert who has not only raised two successful, happy children of my own, I have also extensively and intensively studied and taught parenting strategies for the past 21 years. With regard to Chua’s article, it was initially difficult for me to get past its decidedly racist slant. I couldn’t help wondering if...

From Empty Nest to College Dorm

I’m not complaining. Let me say that right up front. It’s just that I didn’t expect to go from an empty nest to having not one but two college students living with us this summer. I knew that my son would be coming home, of course, and was rejoicing in that news. The unexpected part occurred when one of his best friends from high school asked if she could live with us this summer. (And no, they’re not dating. They really are just friends. No, I don’t have my head in the sand. And no, I’m not giving you a “wink, wink, nod, nod” as I write this. They are truly a testament to the fact...

Family Meetings and Teaching Financial Literacy

When we gave our son his American Express PASS card, he immediately made a bid for more allowance. My reply: Let's sit down at a family meeting and we'll discuss it. In the meantime, I told him, he should think about what extra financial responsibilities he wants to take on with the additional allowance. Family meetings are a great way to maintain an ongoing discussion within which you can both support and teach your teen about money. I highly recommend that you have a family meeting once a week (at least in the beginning) to check in and see how things are going; to determine whether...