Volume 1, Number 1                                                                                                                                                           June 1998




Cover Story:  Personality Type and Money
Guest Columnist:  Ray Linder

III.  "How to Teach Your Kids About Money"
"Small things mean a lot!"

Raymond T. Linder, MBA
CEO, Family Financial Concepts, Inc.
Registered Investment Advisor
Certified MBTI Consultant

• Your NF Child - Idealist/Affiliative:  

• Needs:  Meaning and significance; “Who am I”
• Values:   identity, empathy, benevolence, altruism
• Talents:  diplomacy, identity, purpose
• Behaviors:  relationship-centered, personal involvement, future orientation
• At best:  personal growth
• At worst:  insincerity or lack of integrity



 • Your SJ Child - Traditionalist/Pragmatic:

• Needs:  membership, belonging, responsibility
• Values:  security, belonging, responsibility, control, duty
• Talents:  logistics, responsibility, structure
• Behaviors:  economical, past orientation, responsible, structure, conservative/cautious
• At best:  organized, secure
• At worst:  lack of belonging, abandonment

• Your NT Child - Visionary:

• Needs:  self-control, knowledge, competence
• Values:  knowledge, achievement, ingeniousness, autonomy
• Talents:  strategy, knowledge, framework
• Behaviors:  problem-solving, future/infinite orientation, obliviousness, skepticism
• At best:  planning and innovation; “buys concepts”
• At worst:  lacking knowledge or power


• Your SP Child - Activist:

• Needs:  freedom to act, ability to make an impact
• Values:  impact, stimulation, adaptability, practicality
• Talents:  tactics, impact, change
• Behaviors:  spontaneous, risk-taking, impulsive, present oriented
• At best:  stimulated
• At worst:  constrained, lacking impact

Part I

A report on economic education stated that children understand only one thing about money:  how to spend it.
That's not surprising, with $800 million in TV ads aimed at American children each year.  In this environment, how can you teach your children to be financially savvy? 

*Create an open atmosphere where the family can discuss finances and act on decisions you make together.  Take your children shopping and to the bank, including them in decision making and allowing them to participate in family financial matters.
 *Let your children earn their own money.  They learn by doing.  Set guidelines for giving, saving and spending.  Don't overprotect them; bad experience is often the best teacher!
 *Realize that children are typically self-centered and focused on the present, so they need help to learn the value of giving and of saving for the future.  As with other life lessons, your actions in this area will speak louder than words.
*provide added incentive by matching a portion of their giving and savings.  This will show them that these are important matters to you, too.

Above all, don't be afraid to teach your children about money.  If you don't $800 million of advertising will!


• Present
• Enjoyment
• Realistic
• Specific
• Literal
• Practicality 


• Future
• Anticipation
• Conceptual
• Theoretical
• General
• Figurative
• Innovative 


How You Can Help Your Senser Child

• Sharing their ingenuity
• Preparing them for the future: what can be
• Anticipating the joys of spending money in the future
• Show them “when there’s a will, there’s a way”

How You Can Help Your Intuitive Child

• Sharing their experience
• Meeting the needs of the present
• Encouraging them to enjoy the joys of spending money in the present
• Show them that “a stitch in time saves nine”

The Thinking Child

• Analytical
• Objective
• Critical
• Detached, as an onlooker
• Clarity
• Non-personal
• Justice
• Firm-minded


The Feeling Child

• Sympathetic
• Subjective
• Appreciative
• Involved (as a participant)
• Harmony
• Personal
• Mercy
• Fair-Hearted


The Judging Child

• Resolved
• Control
• Closure
• Planned
• Scheduled
• Decisive
• Time-Driven
• Opinions
• Fixed

The Perceiving Child

• Pending
• Adapting
• Open
• Tentative
• Spontaneous
• Impulsive
• Event-Driven
• Options
• Flexible


Remember: Small things mean a lot!

Ray Linder's latest book, released in January, 1999 is entitled "FINANCIAL FREEDOM:  SEVEN SECRETS TO REDUCE FINANCIAL WORRY".

Ray's book may be purchased at his website:  www.Goodstewardship.com
CEO, Family Financial Concepts, Inc.