Summary Of Love And Money From Warm Hands And Cold Cash By Marcia Millman

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By reading the assigned chapter on Love and Money from Warm Hands & Cold Cash by Marcia Millman, it got me thinking about my family’s accounting system. Like most middle class parents, my family focuses less on inheritance and more on “cultural” capital. Cultural capital is how children are raised and educated. The education they receive allows them to be successful in life. I have to say education is the best investment anyone can make. You can learn so much when you attend college. During college, you are also independent from your parents. You can make all the choices you want but you have to suffer the consequences. You learn from your mistakes. This is a huge part of growing up. This part of your life is extremely important. Ever since …show more content…

But it does. Money and feelings could become intertwined through expectations of reciprocity. Reciprocity is when someone gives something to another individual, and then that individual gives something back in return. Feelings are involved. The reciprocity of the family can be demonstrated through an example. Let’s say there is a grandmother. She gives a pair of boots to her granddaughter out of love. Then her granddaughter gives a pair of earrings to her grandmother out of love too. This reciprocity becomes an economy of exchange. An economy of exchange involves someone who will give you this much of something if you give them this much of something. This means that someone who spends a lot of money on a gift and gives it to someone else, they expect them to do the same. If they don’t, then what they give next as a present will surely reflect that. Sadly, family members count all the money that they have received and record their degrees of feelings. If someone doesn’t express the emotion the other wants to see, then that shows when they receive a present. This is shown quite a bit during Christmas and on birthdays. People expect to receive good gifts on Christmas and when the gift doesn’t meet their expectations then that ruins the relationship between the individuals. They feel that they are loved less. As a result, this has a detrimental effect on the gift giver and the gift

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