Lessons in Financial Responsibility: Alison Susko’s Story

As professionals in the wealth management industry, many people excel at helping people know what to do with their money. But how did we all get here in the first place? Money Chronicles aims to personalize the industry by featuring guests sharing their unique stories and experiences with money, from piggy banks to 401(k)s. 

Money is one of the leading causes of divorce. But for Alison Susko’s parents, it was a topic they always agreed on as they guided Susko and her sister to make financially smart decisions.   

In the inaugural episode of Money Chronicles, Susko discusses the money lessons she gleaned from her childhood with co-hosts Johnny Sandquist and Torie Happe.

Because her parents divorced when she was young, Susko witnessed how two separate households handled money.

“They had two very different approaches and I know for a fact that a lot of the way I am is based on how one was and how the other was,” Susko said.

She now serves as Vice President of Community and Partnerships at Asset-Map, a fintech company that helps advisors and clients better visualize their financial future. 

The discussion about childhood memories of parents and chores expands to how we’re introducing children to money today. And whether technological advances regarding payments will negatively impact our relationship with money, especially the younger generations.

“The transaction feels so quick and almost like it never happened that I’m wondering if it’s starting to change people’s psychology,” Susko said of our tendency to rely on digital instead of physical payment methods like check and cash. 

Tapping a card or phone to checkout is easy and quick, but it removes engagement from the equation.  

If you’re ready to get a little existential and nostalgic at once, click “play” above to listen to the full episode. For more personal money stories from more industry friends and experts, subscribe to Money Chronicles wherever you listen to podcasts. 

Key Takeaways

1. Our relationship with money starts at a young age, we’re talking piggy banks and chore allowances. These minute instances help us understand the relationship between work and money.
2. Our parents greatly influence how we interact with and view money as adults. 
3. We’ve lived through payment transformation before (check ➡️cards ➡️digital), but there’s something about tapping your phone to activate Apple Pay or swiping the screen for an Amazon purchase that’s changing the way we look at money. The speed and ease of digital pay might be negatively affecting us, especially younger generations. 

Key Timestamps and Topics

• 00:00:11 – Hosts Sandquist and Happe explain how Money Chronicles will explore the personal stories and money relationships of friends and experts in the wealth management industry.
• 00:04:25 – Susko shares her fateful path into the financial services industry, and emphasizes her love for fintech and supporting advisors in their work.
• 00:10:07 – Susko recalls her first memories of money, and learning the relationship between work and money at a young age.
• 00:16:68 – Coming from a divorced family, Susko credits her parents for their different financial approaches as they separately taught her the value of hard work and the importance of saving and planning.
• 00:24:04 – We all lived through a massive banking transformation, where balancing a checkbook daily at 3 p.m. is no longer the norm. 
• 00:30:10 – Are fintech advancements (e.g., tapping our cards to pay, using Apple Pay, Amazon) rewiring our brains in how we think about purchases?
• 00:33:03 – Susko takes us back to the year 2000 — her high school senior year — to share her worst money mistake.

Relevant Links

• Connect with Alison on LinkedIn
• Download our free ebook, The Advisor’s Guide to Starting a Podcast
• Connect with a member of our podcasting team
• Learn more about starting your own podcast

About Three Crowns

Three Crowns is a full-service branding and digital media partner, providing the financial industry with high-quality custom blogs, website design, branding, podcast production, and more. We help financial advisors and fintech companies find their message and amplify their voices. From strategy to click-worthy content to SEO optimization and social media promotion, our team is ready to help you feel confident in your communication. Click here to connect with a member of the Three Crowns team today.