It used to be that younger people, just getting their career started after college, would have a difficult time establishing credit. However, nowadays most people can obtain numerous credit cards—pets have even received pre-approved credit notices. This shift in accessible credit may be why it seems that, today, parents are often bailing their adult children out of debt. Also, parents now face children who are marketed “stuff” at younger ages than ever before. Nathan Dungan’s book, Prodigal Sons and Material Girls: How Not to Be Your Child’s ATM, is a guide for any parent raising children in the 21st century.

Dungan states in his first chapter, “With this generation, what you wear, what you eat, and where you shop determine who you are.” Divided into two parts, “Under the Spell of Hypnotic Consumption” and “A Better Way,” Prodigal Sons and Material Girls discusses the importance of teaching children the “Share-Save-Spend” method of money management. He rounds out his teachings with the final chapter, “Learning to Fly before Leaving the Nest.”

Nathan Dungan began his career as a financial advisor over 15 years ago and eventually became vice president of a billion dollar company. He has led many workshops and public speaking engagements teaching the “share-save-spend” method of money management discussed in his book. Prodigal Sons and Material Girls: How Not to Be Your Child’s ATM is a valuable resource for any parent hoping to teach a child the “value of a dollar.”

 This does not constitute an endorsement by us of the author or the book. The opinions expressed are solely those of the author and may or may not be representative of our opinion.

Copyright © 2006 Liberty Publishing, Inc. All rights reserved.