Financial Stressors in Kids and How to Handle Them with Jeff Savlov (Ep. 5)

Financial stress affects everyone, regardless of their economic standing.  How can families address stressors from a young age? What is the role of communication and love within a family when facing financial challenges? In this episode, Joline Godfrey sits down with Jeff Savlov, Founder of Blum & Savlov LLP, to explore the different categories of stressors that families face. They discuss how these stressors may affect family members, from young children to adults, and offer strategies for dealing with them. The conversation emphasizes the importance of open communication, understanding, and utilizing stress as a catalyst for growth. Key discussions include: Jeff’s family background and his journey from family business to being a family dynamics expert Understanding existential stress and its impact on family systems Strategies for discussing financial decisions with young children and involving them in family financial planning Tackling self-inflicted financial stress and the importance of open communication in families The role of parents in reducing adolescent stress and encouraging honest dialogue And more! Resources: Get your copy of Raising Financially Fit Kids! Connect with Joline Godfrey: Bounce 10 LinkedIn: Joline Godfrey Connect with Jeff Savlov: Website: Blum & Savlov, LLP LinkedIn: Jeff Savlov About our Guest:  Jeff is the Founder of Blum & Savlov, LLP, and consults to business families, legacy wealth families and the advisors who serve them. He brings more than 30 years of unique experience in sales and marketing, business ownership, entrepreneurial endeavors and family dynamics/psychological training, along with a common-sense style, to his consulting work with families. By integrating his diverse business background, extensive academic work and family dynamics/psychological training with his experience working in his family’s commercial printing business, Jeff helps enterprising families to balance family and business/wealth so both will thrive for many generations. Having participated in his family’s commercial printing business in New York City, Jeff understands firsthand the challenges of balancing the interplay between family and business and the devastation that can befall an otherwise healthy business when this balance is not proactively managed. In the business Jeff’s family owned, a consultant was brought in to work with the family, facilitated a successful reorganization of the business and helped rebuild family relationships. This is one of the primary experiences which motivated Jeff’s career in family business and family wealth consulting. Jeff holds a Master of Social Work degree from Rutgers University with specializations in group dynamics and family systems theory. He has a post-graduate certification from the Institute for Psychoanalysis and Psychotherapy of New Jersey (now the Center for Psychoanalysis and Psychotherapy of NJ) where he is a member of the faculty. Jeff received an Advanced Certificate in Family Business Advising from the Family Firm Institute (FFI), Boston, MA where he is recognized with Fellow status. Through membership in FFI, an international organization comprised of family business and family wealth advisors, consultants, educators and researchers, Jeff has access to the latest trends, developments, best practices and research in family business and family wealth consulting. Jeff is the founder of the Princeton Family Business Consultants Group – an interdisciplinary group of professionals serving enterprising families across the U.S. and convening to develop best practices. In addition, Jeff has consulted on relationship and team dynamics with Fortune 500 companies such as Bristol-Myers Squibb, Johnson & Johnson and Schering Plough. He also devotes a portion of his time to performance enhancement with corporate executives and elite high school athletes.