The Financial Independence Blog

Healthy Family Discussions About Wealth Series (Part 3 of 3): A Commitment-Focused Money Mind®

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In Part 1 of our series, we concentrated on a Fear-Focused Money Mind® and in Part 2, we zeroed in on a Happiness-Focused Money Mind®, delving into each of their corresponding concepts. In order to successfully move money to future generations, it is imperative to have greater insight into the emotions that drive financial decisions and to facilitate discussions about money values. By giving children the much needed financial tools to arm themselves into adulthood, you will help their self-esteem, give them tools to make better decisions, thereby greater confidence and peace of mind when entering the real world.

The way you make financial decisions determines your entire life, and 90 percent of our decisions are based on emotion. By understanding, and discussing, the different concepts of money management within a family, the greater the insight into the emotions that drive financial decisions. In this article, we take a look at the third focus: The Commitment Money Mind®.


  • Takes care of others first
  • Always wants to give more
  • Is very considerate of other people’s perspectives
  • Overemphasizes the opinions of others and often makes too many personal sacrifices
  • Herding and Confirmation Bias are common behavioral biases


  • This is the child that will give their last penny to a friend in need.
  • This is someone who may use money as a tool to have others like them or have a hard time saying no.
  • This child places others needs before their own.

If you have a Commitment Focused child, understand their desire to please and recognize its importance and value. Teach them that love and respect are not conditioned on having to buy people’s affections—encourage them to “give” their time and attention. Focus on reinforcing their self-worth and self-esteem.

There are ways to teach money skills to each Money Mind® focus, using different tactics for each. Using an “allowance” is a good way to help in developing these skills for children. By teaching the connection between hard work and earning money kids can adapt more easily and transition into adulthood. It teaches them discipline and responsibility.

As children get older, having them to outside “work” at your office, for a friend or neighbor can help build character by teaching responsibility, accountability, and the connection between work and earning.