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CNN Sunday Morning

Interview With Eileen, Jon Gallo

Aired November 30, 2003 - 09:46   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CATHERINE CALLAWAY, CNN ANCHOR: During the holidays, charities sharpen their focus on the underprivileged, but how about the over- privileged? Our next guests are the authors of "Silver Spoon Kids -- How Successful Parents Raise Responsible Children." That challenge can be magnified by the excesses of the gift-giving season. And Eileen and Jon Gallo are also the co-founders of the Gallo Institute, which examines the psychology of money and issues that surround family wealth.
Thank you both for being with us this morning.

EILEEN GALLO, THE GALLO INSTITUTE: Thank you.

JON GALLO, THE GALLO INSTITUTE: Glad to be here.

CALLAWAY: You know, here we go, Christmas and Hanukkah, two of the biggest holidays of the year. Are children today losing the spirit of what the holidays are supposed to be about with all the commercialism we see?

JON GALLO: Well, all of the commercialism certainly isn't helping. We really need to help our kids get back to the basics of understanding what these holidays are. After all, they started off as religious holy days. We're celebrating the birth of Jesus, we're celebrating the cleansing of the temple by the Maccabes, and our kids need to understand that neither Jesus nor the Maccabes were on the marketing staff of F.A.O. Schwarz or Toys 'R' Us.

CALLAWAY: All right, Eileen. Sounds like a good idea. But give us some tips on how to do that.

EILEEN GALLO: First of all, I think parents need to remember it's very natural for children to want things. They see things advertised on TV. They are bombarded by commercials. Their peers are getting things and talking about getting things. So parents need to create a balance between giving kids enough and not overdoing it.

CALLAWAY: You mean like get one Barbie doll instead of three of the hottest Barbie dolls?

EILEEN GALLO: Right. Give enough gifts so that the kids feel they have enough. But help them to do other things.

JON GALLO: What kids really want from their parents, a lot more than toys, is time and attention. And what we really want to be doing for these holidays is getting back to the basics. Part of it is giving the kids time and attention.

There was a recent survey a few years ago by an organization called the Center for the New American Dream, and 80 percent of the adults they surveyed said they really wanted Christmas and Hanukkah to be less commercial. This is really a concept that is gathering steam these days.

CALLAWAY: And the charitable aspect is often overlooked during the holidays. Isn't there a good way to encourage your children to be charitable during the holidays? That it's not all about them?

EILEEN GALLO: Right. You can create family traditions. Give gifts for charity. Help the children select a charity of their choice. Gather together toys, and bring them to a homeless shelter. And then talk about the experience with the children after.

CALLAWAY: You know so many kids do not understand that not every child wakes up with a tree full of gifts underneath them.

EILEEN GALLO: Right.

JON GALLO: Absolutely. There's a lot of families out there working one and two jobs each, and still living at the poverty level. And we need to explain to kids there are children out there that don't have any toys at all, so one of the holiday rituals you can create is maybe in November or so going through the children's toys, picking up the toy that they no longer are playing with, gift wrapping them, and taking them and the kids to the shelter, to someplace where they can deliver toys to people who don't otherwise have the ability to afford gifts for Christmas.

CALLAWAY: That's a great idea. What about teaching kids, too, the value of money? How far a dollar goes during the season?

JON GALLO: Oh, it's incredibly important. Right now the typical American family is going to spend about $1300 for Christmas. And they will spend four months getting out of credit card debt. We need to teach kids there is more to Christmas than debt and eventually throwing away all the trash from the wrappings.

CALLAWAY: All right. Eileen and Jon, thank you so much for being with us, and setting us all straight on this holiday season.

EILEEN GALLO: Thank you.

CALLAWAY: Thank you very much, and have a good holiday.

JON GALLO: Our pleasure. Thank you.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com







Aired November 30, 2003 - 09:46   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CATHERINE CALLAWAY, CNN ANCHOR: During the holidays, charities sharpen their focus on the underprivileged, but how about the over- privileged? Our next guests are the authors of "Silver Spoon Kids -- How Successful Parents Raise Responsible Children." That challenge can be magnified by the excesses of the gift-giving season. And Eileen and Jon Gallo are also the co-founders of the Gallo Institute, which examines the psychology of money and issues that surround family wealth.
Thank you both for being with us this morning.

EILEEN GALLO, THE GALLO INSTITUTE: Thank you.

JON GALLO, THE GALLO INSTITUTE: Glad to be here.

CALLAWAY: You know, here we go, Christmas and Hanukkah, two of the biggest holidays of the year. Are children today losing the spirit of what the holidays are supposed to be about with all the commercialism we see?

JON GALLO: Well, all of the commercialism certainly isn't helping. We really need to help our kids get back to the basics of understanding what these holidays are. After all, they started off as religious holy days. We're celebrating the birth of Jesus, we're celebrating the cleansing of the temple by the Maccabes, and our kids need to understand that neither Jesus nor the Maccabes were on the marketing staff of F.A.O. Schwarz or Toys 'R' Us.

CALLAWAY: All right, Eileen. Sounds like a good idea. But give us some tips on how to do that.

EILEEN GALLO: First of all, I think parents need to remember it's very natural for children to want things. They see things advertised on TV. They are bombarded by commercials. Their peers are getting things and talking about getting things. So parents need to create a balance between giving kids enough and not overdoing it.

CALLAWAY: You mean like get one Barbie doll instead of three of the hottest Barbie dolls?

EILEEN GALLO: Right. Give enough gifts so that the kids feel they have enough. But help them to do other things.

JON GALLO: What kids really want from their parents, a lot more than toys, is time and attention. And what we really want to be doing for these holidays is getting back to the basics. Part of it is giving the kids time and attention.

There was a recent survey a few years ago by an organization called the Center for the New American Dream, and 80 percent of the adults they surveyed said they really wanted Christmas and Hanukkah to be less commercial. This is really a concept that is gathering steam these days.

CALLAWAY: And the charitable aspect is often overlooked during the holidays. Isn't there a good way to encourage your children to be charitable during the holidays? That it's not all about them?

EILEEN GALLO: Right. You can create family traditions. Give gifts for charity. Help the children select a charity of their choice. Gather together toys, and bring them to a homeless shelter. And then talk about the experience with the children after.

CALLAWAY: You know so many kids do not understand that not every child wakes up with a tree full of gifts underneath them.

EILEEN GALLO: Right.

JON GALLO: Absolutely. There's a lot of families out there working one and two jobs each, and still living at the poverty level. And we need to explain to kids there are children out there that don't have any toys at all, so one of the holiday rituals you can create is maybe in November or so going through the children's toys, picking up the toy that they no longer are playing with, gift wrapping them, and taking them and the kids to the shelter, to someplace where they can deliver toys to people who don't otherwise have the ability to afford gifts for Christmas.

CALLAWAY: That's a great idea. What about teaching kids, too, the value of money? How far a dollar goes during the season?

JON GALLO: Oh, it's incredibly important. Right now the typical American family is going to spend about $1300 for Christmas. And they will spend four months getting out of credit card debt. We need to teach kids there is more to Christmas than debt and eventually throwing away all the trash from the wrappings.

CALLAWAY: All right. Eileen and Jon, thank you so much for being with us, and setting us all straight on this holiday season.

EILEEN GALLO: Thank you.

CALLAWAY: Thank you very much, and have a good holiday.

JON GALLO: Our pleasure. Thank you.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com