Opinion

When my kids were little, we would occasionally give them a few dollars as a reward. They would put the money in their pocket, then take it out and stare at it, then put it back into the pocket, and repeat. They clutched the money so tight for so long, it became a crumpled paper ball. They imagined the candies and toys they could buy and couldn’t wait to spend the money.

Why money burns a hole in your pocket and how to build financial resilience

When my kids were little, we would occasionally give them a few dollars as a reward. They would put the money in their pocket, then take it out and stare at it, then put it back into the pocket, and repeat. They clutched the money so tight for so long, it became a crumpled paper ball. They imagined the candies and toys they could buy and couldn’t wait to spend the money.