Money Minded Families

13Last Thoughts

As a parent you must realize that, like you, your child is the only one responsible for their personal and financial success or failure. Knowledge is power and since much of what is in this book and what our children need to be financially well is not taught in the classroom, it is up to us to impart this knowledge to our children.

We have talked a lot about being conscious, being present, and the profound changes in technology and globalization that require a perspective shift, all these things changing the way we live and work and raise our children. To put it more deliberately, as our society and economy evolve, much of our thinking and emotional responses to these changes also evolve. I distinctly recall the first time I was introduced to Maslow's Hierarchy of Needs in my Psychology 101 class. I was deeply drawn to it. In its simplest form it gave me hope that there is more to reach for; in its most complex it drew for me the reality of where we were as a nation and society compared to so many others around the world. Our lowest low is well above many countries in our global society.

For those unfamiliar with or with a fuzzy recollection of the theory, simplypsychology.org provides the following explanation and illustration:

Maslow's hierarchy of needs is a motivational theory in psychology comprising a five-tier model of human needs, often depicted as hierarchical levels within a pyramid.

Needs lower down in the hierarchy must be satisfied before individuals ...