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!
- 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
“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.”
Interested in Behavioral Economics? Sign up for the Psychology of Money certification course which starts on Monday, April 18th!
Here's one way to engaging with the parents of your students: customizable parent newsletters.