Apr 16, 2022
Podcasts

NGPF Podcast: Dr. Bruce Ross on how families shape our money attitudes and habits

In this wide-ranging conversation, Bruce shares how his upbringing shaped his money attitudes, how he weaves behavioral economics and psychology into the courses he teaches at University of Kentucky and ideas on ideas on how to get family conversations about money started. Enjoy! 

Details:

  • 0:00~1:50 Introduction
  • 1:50~4:39 Weaving in behavioral economics topics
  • 4:39~6:58 Most common cognitive biases in personal finance
  • 6:58~10:57 Anxiety from financial misinformation
  • 10:57~12:27 Lack of personal finance education before college
  • 12:27~21:00 Bringing personal finance to life
  • 21:00~23:55 Debunking money myths
  • 23:55~24:24 A word from NGPF
  • 24:24~31:23 Early money lessons
  • 31:23~34:21 Dr. Ross’s first job
  • 34:21~36:46 First stock purchase at age 18
  • 36:46~40:02 Why is it difficult for families to talk about money?
  • 40:02~44:20 Encouraging parents to talk to their children about money
  • 44:20~45:46 Favorite books 
  • 45:36~51:54 Money tips for couples
  • 51:54~53:15 Favorite money movie
  • 53:15~54:26 On prenuptial agreements
  • 54:26~57:28 Message for educators
  • 57:28~58:54 Conclusion

Resources

Favorite Books

Quotes:

  • “Students realizing ‘oh I do have these value systems around money that may be influencing a lot of my decisions and behaviors’ is really the first step to understanding where a lot of our values and beliefs are starting to come from.”

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Interested in Behavioral Economics? Sign up for the Psychology of Money certification course which starts on Monday, April 18th! 

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 Here's one way to engaging with the parents of your students: customizable parent newsletters. 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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