In families of wealth, it is common to worry about entitlement. With greater resources comes a natural concern about whether children will appreciate what they have. Will they become spoiled? Will they be motivated? There is no “owner’s manual” for raising well-adjusted children.

A key ingredient for becoming a full participant in our financial lives is being intrinsically motivated to learn financial literacy skills in the first place. Financial engagement is the integration of financial skills into a person’s life. It allows them to be intentional about how they use their money and to gain control over their finances.

For some of us, money signifies freedom and security. For others, it can be a source of shame and pain. Regardless of our financial situations, we all internalize ideas, attitudes, opinions, and perceptions about what it means to have, or not to have money. The emotions money triggers, the rules we create around it, how we believe it should be used, and the role it plays in our lives make up what we call financial identity.