Rose Fres Fausto aka the FQ Mom talks to Modern Parenting about handling money, raising boys and what FQ really is…
The topic of money can be overwhelming for most people, but not for Rose Fres Fausto. An investment banker turned full-time homemaker, she’s made a career about talking and writing about finance and family — which is when she became the FQ Mom. Oh, and she’s also a Behavioral Economist and a Gallup-certified Strengths Coach on top of being a mom to three boys. Here’s her story…
Rose Fres Fausto on money, motherhood and being an FQ Mom
Becoming the FQ Mom
After leaving the corporate world, Rose became a full-time homemaker — which meant that the family income was cut in half. This encouraged her to really start watching all her family’s expenses. From income statements to balance sheets, she had it all. And it was important that her sons knew their money, too. She prepared balance sheets for each of them so that there would be no co-mingling of funds right from the start. It was something that Rose wanted her kids to do on their own, starting in grade school.
When her sons grew older and she had more time, she wrote her first book on parenting, Raising Pinoy Boys. Everyone commented that their favorite chapter was the one that focused on money matters. From here, the FQ mom was born!
More than just numbers
Brought up by frugal Ilocano parents, Rose was always conscious about her spending habits. After graduating with a degree in Economics, Rose became an investment banker, and eventually a Behavioral Economist, adding to her money knowledge arsenal. “Money isn’t about numbers,” says Rose. “It’s also about human behavior.”
In her book FQ: The nth Intelligence, she urges readers to take the FQ Test – a test that measures one’s financial intelligence quotient and mindset about money. “No one can really escape the reality of handling money. No matter how successful you are in other aspects of life, if you financial condition is a mess, you’ll live a stressful life.”
FQ for Parents
Did you take the FQ test? And if so, how did it make you feel about your — or your lack of — financial knowledge. It’s a scary thought, knowing that you’re unable to make sound decisions in handling your personal finances. And yes, it’s never too late to change your financial situation. “Doing something, having a heightened awareness is better than doing nothing,” advises Rose.
Moms, especially could benefit from increasing their FQ level. Apart from the budgeting they’re used to, they could turn their attentions to investing and beyond! The sky’s the limit!
The pros of teaching our kids FQ
According to Rose, the best time to learn FQ is to start at the very beginning. “Start when they’re born,” says Rose. “Open a bank account for them, and so on.” And the better their FQ is, the easier it is for parents to sit back and relax and allow them to follow their calling — it’s basically economic self-defense!
And to Rose’s delight, her kids not only follow her financial advice but also teach it! “Our second son, Enrique, a CFA, is now our Financial Architect at IFE Management Advisers, Inc. IFE stands for Investing For Everyone. We help individuals and company employees have a high FQ through in-depth financial architecture that’s bespoke. My 2 others – Martin has his own brand consultancy Brand’eM, and Anton, our Myx VJ, podcaster, professional host and choreographer, they’re all practising and teaching FQ in their own way,” Rose explains.
Knowledge is power and there’s no doubt that good financial knowledge could benefit parents. It could help us understand how we can make our money work for us and embrace our ambitions so we can live our fullest lives. Just take it from Rose!
Learn more about Rose and her books on money matters on FQmom.com