First Memories of Money Parental Interview

Week 4 Assignment: First Memories of Money Parental Interview and Student Loan Forgiveness

Part One: Your First Memories of Money

Part Two: Parental Interview

Complete Assignment 4 Quiz

• Before you begin this week’s assignment, take the quiz at MoneyStudyGroup.com in Week 4
• Pass the quiz with 80% or better
• Grab a Screenshot
• Paste a Screenshot in your article

Remember to submit One PDF Document for your BB assignment!

Part One: Your First Memories of Money

The purpose of this assignment is to connect your first memories of money with your current financial behaviors so that you can be more in control of your spending choices.

Directions for Part One:

What are some memories about money that come to mind . . .

• when you were a small child?
• when you earned an allowance or worked to earn money as a youngster?
• when you earned your first real paycheck?

For each of these, what are some ways your experiences affect your attitudes and choices about money today?

On a scale of 0 (not at all) to 10 (incredibly well), how well did your parents model wisdom and responsibility about managing money? Explain your answer in a few sentences.

Whether you learned lessons about money from your parents because of them or in spite of them, what are some of those lessons? How did you learn each of them?

Does the exercises about your memories help you “connect the dots” between your past experiences and your present attitudes and actions regarding finances?

Here’s a video with a few stories About First Memories

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https://www.youtube.com/embed/0Er0k3IZGHY

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Part Two: Family Interview

Interview someone in your own family, preferably a parent, aunt, uncle, or Grand Parent.

Note, this interview can be emotional for the person you choose to interview.

• Be aware that you are going to be asking questions about money and how they managed money.
• Often, people have regrets about how they managed (or mismanaged) money in their lifetime.
• Be considerate and most of all be deeply respectful and compassionate and full of gratitude during this time with the person you choose to interview.
• They are giving you a gift from their life that you can use to improve your life. Choose wisely whom you will interview.
• Select someone you admire for what you perceive as wisdom
• LET THEM KNOW THAT’S WHY YOU CHOSE THEM.

Use the following questions to open the communication during both of your interviews.

Questions about marriage and money:

• What is your first memory of money? Maybe its your First Paycheck or the first memory about money that comes to your mind from when you were a young child?
• Which spouse was “in charge” of the money in your marriage?
• Did you discuss money before you got married?
• What were the first few years of marriage like in terms of managing money together?

Write a brief summary report (between 250 and 300 words) describing what you learned after completing your interview. Feel free to do more than one interview if you like.

• In your summary, explain what you learned about the impact of money management on the relationship between your interviewee and their spouse.
• Be a thankful learner and let them know how much their story has helped you take important steps forward in your life.
• If the interview becomes emotional (for you or for them) don’t be surprised. Handle their emotions (and your own) with compassion and courage.
• You will be the one who directs this interview. It can be a boring, basic, waste of time, or it can be one of the most important interviews of your life – and theirs.

Remember to submit One PDF Document!

Class Collaboration:

In addition to the class collaboration item listed below, be sure to include a screenshot for this week’s secret class collaboration discussed in this week’s Zoom Meeting.

Post your comment in Money Study Group, Facebook, or YouTube: If we were to meet 3 years from now, what would need to have happened in your life in order for you to feel good about your progress?