In The News

The Wall Street Journal

What's the Best Way to Teach Financial Skills to Children

Some parents would rather speak to their children about practically anything other than money. But such reluctance carries a high price. While there are many legitimate ways to discuss finances with youngsters, financial experts say, two things are for sure: Start early and talk often. The Wall Street Journal invited three people to join in an email discussion of the issue. They are Annamaria Lusardi, the Denit Trust chair of economics and accountancy at the George Washington University School of Business; Ted Beck, president and chief executive of the National Endowment for Financial Education; and Nathan Dungan, founder and president of Share Save Spend LLC, which helps educate families about money.

Star Tribune

10 Things Your Kid Should Know About Money by Age 18

There are many books about teaching kids about money, but I question that a book is the most effective tool. I prefer many of the experiential Share Save Spend tools by Minneapolis financial educator and author Nathan Dungan.

Star Tribune

A conversation with Nathan Dungan, developer of Money Sanity U®

Nathan Dungan started his career as a financial planner...In 2003 he founded Share Save Spend, whose mission is to help youths and adults achieve financial sanity with healthy money habits, linking their money to sharing, saving and spending decisions. After writing several books on the subject, such as “Prodigal Sons and Material Girls: How Not to be Your Child’s ATM,” he developed an online tool — Money Sanity U® — to reach a bigger audience of profligate spenders.

Twin Cities Business

Having "The Talk"

The title of Nathan Dungan’s first book gives you a good idea of what his work with family businesses is about.

Written in 2003, Prodigal Sons and Material Girls: How Not to Become Your Child’s ATM, discusses why so many of our children have distorted relationships with money. It’s an issue many business owners wrestle with as they accumulate wealth and consider succession.

The New York Times

Six Steps to Curb Materialism in Your Kids

The other main character is Nathan Dungan, who runs a financial consulting and education firm called Share Save Spend for families and others who want to get smarter about money conversations. I’ve met them both over the years and model some of my own parenting after the way they raise their own children.

The Wall Street Journal

How to Instill Gratitude in Our Kids This Holiday

It's the season of plenty for many wealthy families. Nathan Dungan, founder of Share Save Spend, explains how we can instill gratitude in our children.

Huffington Post

It's Not the Holiday that Makes Kids Materialistic

Let kids in on marketing secrets. Young children like to be let in on adult secrets. Diffuse the power of ads this holiday season by pointing out the marketing tactics companies use to sell their products, said Nathan Dungan, founder of Share Save Spend, which educates families about money. Ask your kids to find you examples on the TV and in newspapers as well.

The Wall Street Journal

When Families Talk Money, Things Can Get Ugly

“The fall, and in particular around Thanksgiving, is often a common time for family meetings—particularly those who only hold one meeting a year,” says Nathan Dungan, owner of Share Save Spend, which helps educate families about money. Mr. Dungan suggests creating an agenda, preferably with broad family input, before the meeting. “When people feel they have a voice in the process, they are more likely to be invested in the outcome,” says Mr. Dungan in Minneapolis.

Reserve Magazine

The Season Gives Reason to Give

Many families teach philanthropic values by giving each child a “share check”—a check with everything filled in but the recipient. “Any dollar amount works,” says Nathan Dungan, Founder and President of Share Save Spend®. This organization helps youth and adults link their money decisions to their values and provides resources like Money Sanity U®®, a subscription-based virtual video library designed to proactively address the topic of money and the role it plays in people’s lives.

Toronto Sun

Old School Home Ec Courses Need to Be Brought Back, Say Experts

Life has been funded by parents who are really shortchanging their kids fiscally, teaching them that “somehow money issues like bill paying, budgeting and living within your means will magically get resolved without ever working at it,” says money expert Nathan Dungan. Most are clueless. “After graduating is not an optimal time to do a crash course on budgets and living within your means,” adds Dungan, of Sharesavespend.com.

Reuters

Advisers Can Help Parents with 'The (Money) Talk'

When kids are as young as 6, parents and advisers can start by helping them identify bills and coins and understand the purpose of money, said Nathan Dungan, president of Minneapolis-based Share Save Spend, LLC, which helps people link financial decisions to their values.When kids are a few years older, parents should help them understand utility bills and set savings goals. Parents can help kids understand where the family's money comes from by researching genealogy and talking to older generations. If there is a family business, get the kids involved.

The Wall Street Journal

How Family Foundations Can Pass on the Philanthropy Flame to the Next Generation

Getting children involved in philanthropy from an early age helps set the stage for foundation service later on, says Nathan Dungan, a wealth counselor and owner of Share Save Spend in Minneapolis.

Yahoo Parenting

How Many Presents are Too Many Presents?

In fact, while children see upwards of 5,000 advertising impressions – such as television commercials, billboards, and pop-up ads — per year, 25 to 30 percent are shown during the holiday season, according to Nathan Dungan, founder and president of the educational consulting company Share Save Spend. “Being mindful of those messages and really helping kids manage expectations, is so important. Otherwise, the narrative in their heads gets warped because all they see are messages of more, more, more,” Dungan tells Yahoo Parenting. “And getting 25 gifts for, say, a 5-year-old is too much. Gifts cease to have meaning after 5 or 10. Kids are just ripping stuff open and they can’t remember who gave what, why they’re getting presents, and often end up exhausted and having a meltdown.”

The Wall Street Journal

Unspoiled Children, No Rod Needed

If you feel guilty about working so much, plan a time to take your child to the park or cook a meal together instead of giving into the impulse to buy a new toy. "Buying them a gift won't make up for lost time and have a lasting impact on their happiness," says Nathan Dungan, owner of Share Save Spend in Minneapolis.

CNNMoney

Squandering the Family Fortune: Why Rich Families Are Losing Money

"Families need to take their time to shape their attitudes toward wealth," said Nathan Dungan, who runs the family wealth consultancy Share Save Spend. "It needs to go beyond maximizing returns and reducing taxes."

Scientific American

How to Let Go of Materialism

Fortunately, materialism can be purposefully altered, as the team discovered in the fourth study—the first ever to use a randomized, controlled design to try to change materialistic beliefs. A group of adolescents from the U.S. joined a program [Share Save Spend's Financial Sanity curriculum] designed to lessen the value they place on materialistic goals, whereas a control group did not receive the intervention. In three sessions [lead by Nathan Dungan] lasting three hours each, participants were taught about consumer culture. They were also encouraged to clarify their intrinsic values (such as self-growth, closeness with friends and family, and contributing to the community) and to make financial decisions based on those values.

Star Tribune

Mandatory Savings Could Help Save for Retirement

We’re spendaholics who live powerless to rein in our spending. Few of us are taught to save as kids, so it never becomes an innate habit, said Nathan Dungan, founder of Share Save Spend, a Minneapolis-based program that teaches families about money strategies. “We have enormous pressures to spend rather than save,” Dungan said. “Spending will always be sexier than saving.”

Star Tribune

How Not To Blow That High School Grad Money

“It feels like winning the lottery to them,” said Nathan Dungan, founder of ShareSaveSpend, which teaches money strategies to families through books, seminars and a website, Sharesavespend.com. “But on what planet does an 18-year-old know how to handle that?” Dungan finds that families who have previously established guidelines about finances and goal setting are better positioned to handle a sudden influx of cash. But for families less skilled at saving, he sees graduation as an opportunity for parents to deliver a real-life lesson.

The Wall Street Journal

Teaching Your Kids to Be Rich

"You can start as soon as your kids say 'I want.' Kids prone to immediate gratification have lower self-esteem. Kids who understand money is more than instant gratification have higher self-esteem," says Nathan Dungan, a wealth coach in Minneapolis and author of "Prodigal Sons and Material Girls: How Not to Be Your Child's ATM."

Artful Living

Lifestyles of the Rich and Famous

It's tough to raise a genuine, levelheaded kid, full of gratitude and humility and a sense of purpose. It can be even more difficult to raise a kid when there's a trust fund afoot. "Parents have described it to me like looking up at Mount Everest and having no oxygen and no Sherpa," says Nathan Dungan, a private wealth consultant in Minneapolis and founder of Share Save Spend.

MarketWatch

How to Keep Your Kids from Becoming Money Abusers

Go on a learning journey with your kids,” says Nathan Dungan, founder and president of Share Save Spend, an organization that promotes financial responsibility. “Just talking about money starts to yield benefits.”

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