Episode #389 – Money Mindset Series part 2: Are You Acting Like a CFO or a Kid with an Allowance?

I’m Cherylanne Skolnicki, and this is Brilliant Balance—the show for those of us who still dare to want it all, who have big dreams and bold ambitions. I believe we deserve to have a big, full life and the freedom to enjoy it. So let’s design our next chapter together—for brilliance, not burnout.

Each week, I’ll bring ideas, insights, and a fresh perspective to keep you growing into a life that feels as good as it looks. Brilliant Balance. Your life. Your way. Now let’s get started.

This is Episode 389 of the Brilliant Balance podcast, and today we’re in part two of the Money Mindset series. The question is: Are you acting like a CFO or a kid with an allowance?

I’m delighted to get into part two of this series with you. I love the title we chose for today’s episode because honestly, sometimes we find ourselves in both roles. There are moments in life when you feel like, “I’ve got it,” when it comes to money—and other times, when you may revert to behaviors that were more appropriate in childhood.

Today, we’re going to explore the differences between those behaviors and dig into the nuances of what it really takes to act like a true financial grown-up.

If you didn’t catch part one of this series, head back and give it a listen. Then dig into part two: Are you acting like a CFO or a kid with an allowance? Here we go.

We’re going to talk about ways to determine if you’re still operating as a “financial child”—a term I’m coining to illustrate this concept. Before you assume you know exactly what I mean—or layer guilt or shame onto that label—just stay with me while we unpack it. I think you’ll find it to be a helpful metaphor.

Let me assure you, I’m sharing today’s message out of a deep desire to help you step into your full potential. Sometimes, to do that, we have to confront patterns we’ve been ignoring—or challenge blind spots in how we think about our own behavior. So, there’s no judgment here.

If this conversation, or some of the language I use, triggers an emotional response, let it surface. Ask yourself: Why? What’s the story you’re telling yourself? What’s the nudge you’re feeling to maybe make some changes?

This framework of financial childhood came to me because I’ve been thinking a lot about what it means to operate as a child versus an adult—especially since we have a young teenager in our house. My daughter is 13, almost 14, and I see her straddling two worlds. Sometimes she acts fully like an adult, and other times she reverts to more childlike behavior. That’s totally normal for adolescence. But I think even as adults, we vacillate between those states, too.

One moment we’ve got it all together, and the next—we’re back to our 10-year-old selves.

So today, we’re going to look at one specific area of life where this tends to show up: finances. I’ll help you assess whether you most often behave like a financial adult—or a financial child. Because the truth is, we all do a little of both depending on the situation. I certainly do.

And let me be clear—this has nothing to do with your age. It’s not uncommon for young adults or even teenagers to behave with great financial maturity, while people who’ve been on the planet for a long time may still be operating with a childlike approach to money.

There are reasons this is so common. In the U.S., financial education has not been a priority. I wasn’t taught anything about financial management in school. The current data says less than half of states require high schoolers to take a course in personal finance. And only about 20% of teachers say they feel competent teaching the topic.

Even more telling—72% of parents report reluctance to talk to their kids about financial matters. It’s an area we often avoid and expect our kids to “just figure out.”

So if you feel like you’re in the dark about financial matters, you’re not alone. But that lack of education can have long-standing repercussions.

What we’re going to talk about today are behavioral patterns, more than knowledge gaps—behaviors that might indicate you’re still operating as a financial child. There are three signs I want to share, and then we’ll talk about how you can shift toward financial adulthood.

Sign #1: You Need Permission to Spend Money

If you need someone else’s permission to spend money, you may be operating as a financial child.

We give children spending rules because we don’t trust them to make wise decisions—and because the money they’re using isn’t really theirs. But if you’re an adult and still feel like you need someone else’s approval before making a financial decision, it’s time to ask why.

Whose permission do you need? Your spouse’s? A parent’s? And how did that dynamic develop? In some cases, your spouse may require permission. In others, you may just feel like you need to ask, even if they haven’t asked you to.

If the word “permission” is in the picture, that’s the clue. Trust—either in yourself or in the other person—is at play. And if you’re uncomfortable with the dynamic, it may be time to shift it.

Sign #2: You Think Your Money Is “For Fun,” and Someone Else Covers the Rest

If you believe the money you earn is just for fun—and someone else should handle all the mundane or necessary expenses—that’s a sign of financial childhood.

Children think this way—birthday money is for toys, and their needs are covered by someone else. But as adults, that pattern can carry over and create imbalance, especially in relationships.

To be clear: if you and your partner have a mutual agreement and it works well—no resentment, no tension—that’s fine. But if your earnings are used only for discretionary spending, while your partner covers all the necessities, it may create a power dynamic that doesn’t feel great over time.

You might consider pooling resources and allocating a portion of all income to both needs and fun. That creates a sense of shared contribution and prevents financial resentment.

Sign #3: You Say “I’m Just Not Good with Money”

This is the most dangerous pattern—and also the most solvable.

If you frequently say, “I’m just not good with money,” or “I don’t like to talk about money,” that mindset can leave you unprepared when life forces you into financial decision-making.

A personal example: my grandmother had never written a check before her husband died suddenly. She had to run a farm, manage assets, and make huge financial decisions overnight.

I’ve known women who were divorced or widowed unexpectedly and had to step into the CFO role without warning. Saying “I’m not good with money” doesn’t work when it’s suddenly all on you.

So—what can you do to become a financial adult before a crisis forces you to?

Let’s talk about seven foundational skills to move from financial childhood to adulthood.

1. Learn to Earn.
You want the confidence to earn income when you choose to. Even if you’re not earning today, knowing how gives you freedom.

2. Open a Bank Account in Your Name.
Have your own access to funds. It’s essential.

3. Know How to Pay Bills.
Even if someone else is doing it today, know how. You need visibility into inflows and outflows.

4. Build a Budget.
It doesn’t have to be strict, but you need to understand your household income, fixed expenses, and episodic costs.

5. Know How to Save.
Delayed gratification is a hallmark of adulthood. Savings for emergencies, retirement, and big goals are key.

6. Use Credit Wisely.
Know your credit score. Use credit cards responsibly. Pull your credit report annually and understand what affects your score.

7. Learn to Invest.
Understand how investments work and the role they play in growing your wealth. This is critical for long-term financial freedom.

If you can do these seven things, guess what? You are good with money. You’ll feel more confident, have the vocabulary to talk about finances, and be in a stronger position to make powerful decisions.

So if you see yourself in these patterns, the question becomes: What is it costing you to stay there? Are you willing to change?

These seven steps are the basics of financial adulthood. They will change how you see the world and what you believe is possible.

Next time, in part three of this series, we’re going to talk about income—specifically, whether you’ve maxed out your income potential or if there’s room to grow. (Hint: There probably is.)

Thanks for joining me today. As always, you can DM me on Instagram @cskolnicki, comment on this podcast episode, or visit brilliant-balance.com to connect with me or my team.

Until next time—let’s be brilliant. And don’t forget to come back next week for part three of the Money Mindset series.