Prodigal Sons and Material Girls

In today’s society many young people have lost sight of the value of money and seem to believe that money really does "grow on trees." Part expose and part survival guide, Prodigal Sons and Material Girls addresses the nagging issue faced by many parents today – why do their children have such unrealistic expectations about money?

The book is divided into two comprehensive parts. Part I outlines the disturbing facts about America’s possession-crazed youth and the society that has distorted their views. You’ll be introduced to everything from the "three-headed monster"—a high-powered triumvirate of consumer products companies, media conglomerates, and advertising agencies that has tremendous influence over your children—to the distorted view of the American Dream as shaped by principles known as "The Teen Commandments." In learning what you’re up against you can teach financial responsibility from a position of strength.

In Part II, Dungan offers creative and convincing examples on how to leverage his highly successful "Share-Save-Spend" approach to money – critical elements for you to help your children break free from the materialism that has become ingrained in our society. Through insightful anecdotes and simple exercises, you will learn how to:

• Talk to your children about money
• Understand the difference between financial wants and needs
• Increase the probability of your children having a prosperous life
• Raise your children’s marketing IQ
• Maintain healthy financial boundaries
• Set a healthy example for your children to follow

The "Share–Save–Spend" methodology will help your children establish healthy financial habits and will undoubtedly become their foundation for making a lifetime of responsible financial decisions.

Nathan Dungan is an innovative leader in the financial services industry. Over the past 15 years, he has been a top-performing financial advisor outside of Philadelphia, PA and most recently served as Vice President of Marketing for Lutheran Brotherhood (now Thrivent Financial for Lutherans), a $57 billion member-owned financial services company with nearly 3 million members. Dungan is a frequent speaker and workshop leader and has been widely quoted on this subject in the New York Times, the Wall Street Journal, USA Today and has appeared on CNN and PBS.

Foreword.

Acknowledgments.

Introduction.

PART I: UNDER THE SPELL OF HYPNOTIC CONSUMPTION.

Just Buy It!

The Gotta-Have-It-Now Generation.

A Branded New World.

The Teen Commandments.

The Three Headed Monster.

Where's the Rest of the Village?

Your Own Worst Enemy.

PART II: A BETTER WAY.

Money See, Money Do.

Your Money, Your Values.

A Balanced Life—Sharing, Saving, Spending.

A Balanced Life—Sharing.

A Balanced Life—Saving.

A Balanced Life—Spending.

Raising Your Child's Marketing IQ.

Learning to Fly Before Leaving the Nest.

Notes.

Index.

NATHAN DUNGAN is an innovative leader in the financial services industry. For fifteen years, he was a top-performing financial advisor and served as vice president of marketing for Lutheran Brotherhood (now Thrivent Financial for Lutherans), a $57 billion, member-owned financial services company with nearly three million members. Dungan, President of Share-Save-Spend LLC, is a frequent speaker and consultant and has been widely quoted on this subject in the New York Times, The Wall Street Journal, and USA Today, and has appeared on CNN and PBS.

“I want it, and I want it now!”
“But, Mom, everyone else has one!”
“Dad, can I please have it?
It will make me so happy!”

If these phrases sound familiar, don’t fret; you’re not alone. In today’s possession-crazed society, the average child has unrealistic expectations about money, and expensive taste! From the preschooler who begs for another toy to the college student who graduates buried in $10,000 of credit card debt, today’s youth lack a sense of financial responsibility. The old-time values of sacrifice, thrift, and satisfaction have been swept aside, replaced by a need for more and pricier possessions.

Luckily, as a parent, you’re in a position to influence and shape your child’s financial habits, and Prodigal Sons and Material Girls: How Not to Be Your Child’s ATM has been written to help you on this long and sometimes arduous journey. Within this book, author Nathan Dungan—an expert on family finances and the effects of mass marketing on young people—shares the numerous lessons he’s learned as a long-time financial advisor on this topic. By blending real-world stories with the tools and techniques needed to teach your children the real value of money, Dungan offers a practical road map for instilling within your children a sense of financial responsibility that will last a lifetime.

Prodigal Sons and Material Girls is divided into two comprehensive parts. Part I outlines the disturbing facts about America’s possession-crazed youth and the consumer-oriented society that has distorted their views. You’ll be introduced to everything from the “three-headed monster”—a high-powered triumvirate of consumer product companies, media conglomerates, and advertising agencies that has a tremendous influence over your children—to the distorted view of the American Dream as shaped by principles known as “The Teen Commandments.” In learning what you’re up against, you can teach financial responsibility from a position of strength.

In Part II, Dungan offers creative and convincing examples on how to leverage his highly successful “Share-Save-Spend” approach to money—critical elements for you to help your children break free from the materialism that has become ingrained in our society. Through insightful anecdotes and simple exercises, you will learn how to:

• Talk to your children about money
• Understand the difference between wants and needs
• Increase the probability of your children having a prosperous life
• Raise your children’s marketing IQ
• Maintain healthy financial boundaries
• Set a positive example for your children to follow

The “Share-Save-Spend” method will help your children establish healthy financial habits and will undoubtedly become their foundation for making a lifetime of responsible financial decisions.

To sign up for Nathan Dungan’s monthly Share-Save-Spend tips, please visit his Web site at www.sharesavespend.com.

A portion of the author’s proceeds will be donated to charitable causes.