Prodigal Sons and Material Girls: How Not to Be Your Child's ATM

by Nathan Dungan and David Walsh

Book Overview

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...

• Format: Hardcover
• Language: English
• ISBN: 0471250694
• ISBN13: 9780471250692
• Release Date: May 2003
• Publisher: Wiley
• Length: 272 Pages
• Weight: 0.70 lbs.
• Dimensions: 1.2" x 6.3" x 9.2"

Customer Reviews

Financial Information for Parents & Children

This is the best book on the subject of Finances for the parents of children of all ages. Companies are constantly battling for our dollars and we need to teach our children that they don't need EVERYTHING that they see on tv, hear on the radio, see in a store, etc. I highly recommend this book for sound advice on teaching financial responsibility to parents and children alike.

Teach your kids to Share, Spend and Save

Nathan Dungan's philosophy for teaching children to be responsible with money has its roots in a church program he designed at the behest of a friend. Dumbfounded that the kids in Sunday School hadn't thought about the possibility that money could be shared, he developed an approach to financial literacy focused on Sharing, Spending and Saving.Many parents will identify with the profiles and stories of kids who ask for and are given too much. These same parents will likely be depressed by the evidence Dungan presents surrounding the influence of advertising, promotion and media on kids' inability to distinguish between wants and needs. Dungan offers solutions to these problems, providing parents with the ammunition to stop the madness and, not only to teach, but to lead by example.Dungan acknowledges that its difficult for any parent to run counter to prevailing cultural imperatives to buy more, more, MORE. The tools he offers in this book should help make the job much easier for the committed parent.

Prodigal Sons and Material Girls...

I just finished reading the book, "Prodigal Sons and Material Girls: How Not to Be Your Child's ATM..." I was very impressed with Nathan Dugan's share-save-spend strategy, similar to what I was raised on--and eventually converted my husband to. Mr. Dugan's strategy combines spiritual and practical values into an easy to follow formula. Another aspect that I was impressed with was that Mr. Dugan also emphasizes understanding who you are and where you come from, in relation to your financial mindset--something that leads to our spending habits. I am trying to teach good financial habits to my three young children. When they come shopping with me we talk about the things that our family "needs" versus our "wants." I firmly believe in investing in oneself by saving money, instead of satisfying immediate wants. I appreciated Mr. Dugan's philosophy of grouping values and financial habits together, something I think people in financial straits don't realize. I've had extended family members approach me from time to time, asking for help in teaching them how to budget, etc. This book is a great reference that I will recommend to those who are struggling and to those who aren't, but need reaffirmation.

Really hits the target for money and values with youth

The book opened my eyes to the some of the psychological manipulations that advertising and marketing companies use to influence children. The strategies Mr. Dungan suggests for instilling traditional values like donating and saving money as well as reasonable spending can help children learn how to be successful financially in adult life.As a professional financial adviser and I see many financially successful people. In virtually every person that has accumulated substantial wealth I find several consistent attitudes and habits. These attitudes and habits for success are rarely found in today's youth. If this materialism doesn't change the future will not be as bright as we would want for them. I have been searching for resources that will help me teach young people in my community the value of money and how they can make choices which will provide long term happiness and security and at the same time live a life of joy and fulfillment today. Mr. Dungan's research and suggested strategies do just that. This book has become the centerpiece of my community education effort.

Sage & Insightful Advice for Rasing Responsible Children

A brilliant review of what we/society have done to "drug" our children in a spending stupor and what we need to do to stem this cultural tide and raise responsible & healthy children when it comes to managing money/spending.Let me be the first to say I too am part of the problem; I've indulged my child and mis-taught my son with illusions that spending is happiness. Mr. Dugan describes how I/culture are misleading our children, if not selling them out, for the sake of marketing gain: business profit over our children's happiness. We're allowing business advertising to be the stewards of our children's spending/financial health. Mr. Dungan shows us how to take back that stewardship and how not to abdicate our child-rearing responsibility (about spending) and what to do to raise wise-spending young adults.I have a few years to try to undo whatever harm I may have wrought. Of course, it's hard to rectify a bad habit once started, so I envy those of you who get to Nathan's book early. For those of us who can't, I advise we buy a copy for each child, tell them upfront what we intend to do & why, and then go about the task of raising spending responsible children, and in doing so, healthier, happier young people.Thank you Mr. Dungan for writing such a sage, concise prescription for our self-inflicted woes: Share, Save, Spend.