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Smart Money Smart Kids: Raising the Next Generation to Win with Money
In Smart Money Smart Kids, Dave Ramsey and his daughter, Rachel Cruze, team up to share some personal family stories you don’t want to miss! Get a no-nonsense approach for teaching your kids and teens the basics of money.
Find practical strategies to raise money-smart kids in this debt-crazed world. Smart Money Smart Kids offers common-sense ways to teach these money lessons:
Where money comes from
The value of hard work
How to save, spend, and give
Debt, and how to avoid it
Paying cash for college
Living responsibly
Find practical strategies to raise money-smart kids in this debt-crazed world. Smart Money Smart Kids offers common-sense ways to teach these money lessons:
Where money comes from
The value of hard work
How to save, spend, and give
Debt, and how to avoid it
Paying cash for college
Living responsibly
272 pages, Hardcover
First published April 16, 2014
804 people are currently reading
6869 people want to read
About the author
Dave Ramsey
220 books2,596 followersDave Ramsey is America’s trusted voice on money and business. He’s a #1 National bestselling author and host of The Ramsey Show, heard by more than 18 million listeners each week. Dave’s eight national bestselling books include The Total Money Makeover, Baby Steps Millionaires, and EntreLeadership. Since 1992, Dave has helped people take control of their money, build wealth, and enhance their lives. He also serves as CEO of Ramsey Solutions.
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Displaying 1 - 30 of 785 reviews
October 2, 2014
Ages 5-13: Pay child on commission; money for some jobs. Pay weekly. At payday, teach to save 20%, Give 10%, spend rest. Write down savings goal so they can see it daily. Teach them to give money and time to others.
"Raking leaves, cleaning the house, or being responsible for feeding the pet creates a sense of accomplishment, the sense that they actually did something that they can feel good about. It makes them feel confident that they can go out and win."
Ages 14-18: Open up a checking account in your child's name. Put all the money you spend on them(clothes, sports, clubs, lunch) in there, plus the weekly commissions that they earn. Plan a budget based on your child's income and a what they need/want to spend it on. Give, Save(emergency fund of 500 minimum (car repairs, etc.), college, car and repairs, computer, trip, gifts), Food (eating out, school lunch), Clothes (sport, regular), transportation (gas, insurance, oil change, license and taxes, bus), Personal (cosmetics, hair, music, gifts, pocket money, cell phone), recreation (movie, concerts). Balance checkbooks once a month as a chore. In addition to teaching budgeting, teach your child about investing and avoiding debt at all costs.
"Saving money requires emotional maturity. Delaying pleasure is one definition of maturity. Adults devise a plan and follow it; children do what feels good."
"A budget creates boundaries. That's the great thing about being purposeful in how you plan your money - it sets limitations for you."
"Children who can learn to plan and be forward-thinking are more poised and confident because life is not always happening to them - they are happening to life."
"Give them some freedom to make their own mistakes. Be careful to make this a positive experience for them so they can grow to love the process and benefits."
Wedding: 55% reception (facilities, food, drinks, decorations, cake, band, parking, transportation), 12% ceremony (flowers, location, officiant), 10% photography+videographer, 10% wedding planner, 8% dress and tux, 5% miscellaneous (bridesmaid and groomsman gifts, wedding bands, invitations, thank you notes, marriage license).
"When you teach your child to lean on a plastic crutch, you are teaching them that they don't have to delay pleasure, or sacrifice, or save up and pay cash for things. You are teaching them that they don't need to save for a rainy day, because the plastic umbrella is always there. You are teaching them really bad values that will lead them into debt, which may take them a decade to clean up."
"Getting a credit card doesn't make your student an adult; it makes her a slave to debt and sets her on a potentially lifelong course of spending money she doesn't have. When you train your child from a young age how to spot those marketing tactics, and if you teach her that the borrower truly is a slave to the lender, you'll empower her to walk right past the debt salesman."
"If he learned early on to save up and pay cash for cars, and if he learned about budgeting, debt, contentment, and the other things we're talking about in this book, he wouldn't have that payment. That means he'd have $492 extra in his monthly budget to save and invest. If he were to invest that $492 into a good growth stock mutual fund his entire working lifetime - age 25 to 65 - he would retire with $5,846,153. He'd be a millionaire by age 51 and have almost 6 million at retirement simply because he paid himself a car payment all those years."
Ready to buy a house/save for college: "completely out of debt, have a full emergency fund of 3 to 6 months of expenses in the bank, contributing 15% of income to retirement, and have a down payment of at least 10 percent (20 is better)."
Saving for college: 1st $2,000 per year in an ESA (growth stock mutual fund). Next, contribute to a 529 plan: "Stay away from plans that fix or control your investment options. You also need to stay away from the prepaid state tuition plans. Only do the kind you can put into a growth stock mutual fund and that allows you to control and move the investment."
On college: "You must lovingly guide your "grown" teen in his college choice and field of study. Keep the lines of communication open, and be ready to pull the money away if necessary to save him from himself."
"As your child hits her senior year of high school, I want to suggest a new part-time job for her: filling out scholarship applications. I recently talked to a new college graduate, and she told me that all through the spring semester of her senior year of high school, her mother made her fill out two scholarship applications every day. That took maybe an hour a day, and at the time, this girl was not happy about it. But her mom wouldn't let her off the hook, no matter how much she complained. Then the award letters started rolling in. By the time she started college, she had enough scholarships to give her a completely free ride for three years! That meant all she had to do was work enough during those three years to save up for her fourth year's tuition."
FAFSA during senior year for scholarships, grants, and assistance child is eligible for.
Take ACT/SAT at least three times.
"A part-time job will actually not hurt your child's grades; it will improve them. Studies show that students who work 10-19 hours a week actually have higher GPA's on average than students who don't hold jobs while in school. There are even studies that show how much a student's GPA goes up the more he is responsible for paying for his education. This might seem counterintuitive, but think about it: You value what you pay for, remember? We saw that when we talked about buying a car. If your child is financially invested in his own education, he's more likely to place a higher value on it and work harder to make the most of it. And if he's managing a job while in college, he also gets the added bonus of learning things like priorities, goal setting, and time management."
"Contentment is a spiritual experience that allows peace in the middle of a storm, but that peace isn't necessarily passive. It may very well be active. A content person still wants to do better and be better; he's just not pinning all his hopes and dreams on that one thing. He may say, "If this is all I ever have, I'll thank God and call myself blessed. But if I can grow and change and make a bigger impact on the world, then I'm going to do that." A content person doesn't avoid making decisions; he just doesn't feel the pressing need to make rash or stupid decisions. It is not necessary to be stagnant or unmoving to be content. So content people may not have the best of everything, but they make the best of everything."
On Jealousy/envy: teach your child to be happy for others blessings. Hope for themselves one day.
Limit remove friends/advertisements that encourage stuff/comparisons/wanting tons of stuff. Remind that stuff will not fulfill.
"Celebrating the accomplishments and character qualities that enabled them to make the purchase reminds your children that they are not defined by the abundance of their possessions. Purchases are always the result of a goal, not the end goal. Never let a child utter the words, "I will be happy when..." Contentment isn't a destination; it's not somewhere you're leaving from, and it isn't somewhere you're heading to. Contentment is a manner of traveling. It's an attitude of peace and joy where you are, even while you are working to be somewhere else."
"A heart filled with gratitude leaves no room for discontentment."
"Why is it that a two-year-old is often happier playing in the box a toy came in rather than playing with the actual toy? Why is it that children living in poverty in third-world countries seem happier and more content than kids in wealthy nations? Because neither is caught in the trap of comparisons. They don't know what they are missing out on. They are simply grateful."
"Make sure your heart is full of gratitude for the blessings in your own life. Let your children witness this in you, and they will want to respond with gratitude for the blessings in their own lives."
"When your child is focused on meeting the real needs of others through giving, it becomes harder and harder for him to focus on his wants."
"Winning with money also means getting comfortable doing some good, old-fashioned hard work. It means learning patience, delayed gratification, and contentment. It means developing the heart of a giver. Personal finance is only 20% head knowledge; the other 80% is behavior."
"To avoid this insanity, we as parents simply must say no sometimes - and stick to it. We need to assert our control and command over our households. Don't think for a second that your children aren't smart enough to manipulate you. They are. And they will as long as you let them."
"As a parent, let your yes be yes and your no be no. No is a complete sentence. It doesn't need an explanation. Have integrity. Stick to your answer. And enforce consequences for fits or negative outbursts that result from the healthy, loving boundary you set. Saying no and sticking to it take tremendous energy in the moment. However, over the scope of your life, it takes less energy because nothing is more draining than an eight-year-old brat or a self-centered teen. Few things in life are more disheartening than watching your adult child fail in his relationships, finances, career, and every other area of life because you never set boundaries for him as a child. Saying no takes energy at the time, but it saves your life and your child's life in the long run."
Grown child moving home: only for crisis. 1st, make a time limit. 2nd, they must be doing things promote healing (looking for a job for 3 hours a day, do a budget and show it to you, save a certain amount per month, exercise, good sleep, counseling). 3rd, act according to your rules (no drugs, coming home at reasonable hour, doing chores around the house).
"Is this helping my child become the self-supporting, healthy, mature adult I want him to be?"
"You will never win with money by accident, it takes planning."
"Raking leaves, cleaning the house, or being responsible for feeding the pet creates a sense of accomplishment, the sense that they actually did something that they can feel good about. It makes them feel confident that they can go out and win."
Ages 14-18: Open up a checking account in your child's name. Put all the money you spend on them(clothes, sports, clubs, lunch) in there, plus the weekly commissions that they earn. Plan a budget based on your child's income and a what they need/want to spend it on. Give, Save(emergency fund of 500 minimum (car repairs, etc.), college, car and repairs, computer, trip, gifts), Food (eating out, school lunch), Clothes (sport, regular), transportation (gas, insurance, oil change, license and taxes, bus), Personal (cosmetics, hair, music, gifts, pocket money, cell phone), recreation (movie, concerts). Balance checkbooks once a month as a chore. In addition to teaching budgeting, teach your child about investing and avoiding debt at all costs.
"Saving money requires emotional maturity. Delaying pleasure is one definition of maturity. Adults devise a plan and follow it; children do what feels good."
"A budget creates boundaries. That's the great thing about being purposeful in how you plan your money - it sets limitations for you."
"Children who can learn to plan and be forward-thinking are more poised and confident because life is not always happening to them - they are happening to life."
"Give them some freedom to make their own mistakes. Be careful to make this a positive experience for them so they can grow to love the process and benefits."
Wedding: 55% reception (facilities, food, drinks, decorations, cake, band, parking, transportation), 12% ceremony (flowers, location, officiant), 10% photography+videographer, 10% wedding planner, 8% dress and tux, 5% miscellaneous (bridesmaid and groomsman gifts, wedding bands, invitations, thank you notes, marriage license).
"When you teach your child to lean on a plastic crutch, you are teaching them that they don't have to delay pleasure, or sacrifice, or save up and pay cash for things. You are teaching them that they don't need to save for a rainy day, because the plastic umbrella is always there. You are teaching them really bad values that will lead them into debt, which may take them a decade to clean up."
"Getting a credit card doesn't make your student an adult; it makes her a slave to debt and sets her on a potentially lifelong course of spending money she doesn't have. When you train your child from a young age how to spot those marketing tactics, and if you teach her that the borrower truly is a slave to the lender, you'll empower her to walk right past the debt salesman."
"If he learned early on to save up and pay cash for cars, and if he learned about budgeting, debt, contentment, and the other things we're talking about in this book, he wouldn't have that payment. That means he'd have $492 extra in his monthly budget to save and invest. If he were to invest that $492 into a good growth stock mutual fund his entire working lifetime - age 25 to 65 - he would retire with $5,846,153. He'd be a millionaire by age 51 and have almost 6 million at retirement simply because he paid himself a car payment all those years."
Ready to buy a house/save for college: "completely out of debt, have a full emergency fund of 3 to 6 months of expenses in the bank, contributing 15% of income to retirement, and have a down payment of at least 10 percent (20 is better)."
Saving for college: 1st $2,000 per year in an ESA (growth stock mutual fund). Next, contribute to a 529 plan: "Stay away from plans that fix or control your investment options. You also need to stay away from the prepaid state tuition plans. Only do the kind you can put into a growth stock mutual fund and that allows you to control and move the investment."
On college: "You must lovingly guide your "grown" teen in his college choice and field of study. Keep the lines of communication open, and be ready to pull the money away if necessary to save him from himself."
"As your child hits her senior year of high school, I want to suggest a new part-time job for her: filling out scholarship applications. I recently talked to a new college graduate, and she told me that all through the spring semester of her senior year of high school, her mother made her fill out two scholarship applications every day. That took maybe an hour a day, and at the time, this girl was not happy about it. But her mom wouldn't let her off the hook, no matter how much she complained. Then the award letters started rolling in. By the time she started college, she had enough scholarships to give her a completely free ride for three years! That meant all she had to do was work enough during those three years to save up for her fourth year's tuition."
FAFSA during senior year for scholarships, grants, and assistance child is eligible for.
Take ACT/SAT at least three times.
"A part-time job will actually not hurt your child's grades; it will improve them. Studies show that students who work 10-19 hours a week actually have higher GPA's on average than students who don't hold jobs while in school. There are even studies that show how much a student's GPA goes up the more he is responsible for paying for his education. This might seem counterintuitive, but think about it: You value what you pay for, remember? We saw that when we talked about buying a car. If your child is financially invested in his own education, he's more likely to place a higher value on it and work harder to make the most of it. And if he's managing a job while in college, he also gets the added bonus of learning things like priorities, goal setting, and time management."
"Contentment is a spiritual experience that allows peace in the middle of a storm, but that peace isn't necessarily passive. It may very well be active. A content person still wants to do better and be better; he's just not pinning all his hopes and dreams on that one thing. He may say, "If this is all I ever have, I'll thank God and call myself blessed. But if I can grow and change and make a bigger impact on the world, then I'm going to do that." A content person doesn't avoid making decisions; he just doesn't feel the pressing need to make rash or stupid decisions. It is not necessary to be stagnant or unmoving to be content. So content people may not have the best of everything, but they make the best of everything."
On Jealousy/envy: teach your child to be happy for others blessings. Hope for themselves one day.
Limit remove friends/advertisements that encourage stuff/comparisons/wanting tons of stuff. Remind that stuff will not fulfill.
"Celebrating the accomplishments and character qualities that enabled them to make the purchase reminds your children that they are not defined by the abundance of their possessions. Purchases are always the result of a goal, not the end goal. Never let a child utter the words, "I will be happy when..." Contentment isn't a destination; it's not somewhere you're leaving from, and it isn't somewhere you're heading to. Contentment is a manner of traveling. It's an attitude of peace and joy where you are, even while you are working to be somewhere else."
"A heart filled with gratitude leaves no room for discontentment."
"Why is it that a two-year-old is often happier playing in the box a toy came in rather than playing with the actual toy? Why is it that children living in poverty in third-world countries seem happier and more content than kids in wealthy nations? Because neither is caught in the trap of comparisons. They don't know what they are missing out on. They are simply grateful."
"Make sure your heart is full of gratitude for the blessings in your own life. Let your children witness this in you, and they will want to respond with gratitude for the blessings in their own lives."
"When your child is focused on meeting the real needs of others through giving, it becomes harder and harder for him to focus on his wants."
"Winning with money also means getting comfortable doing some good, old-fashioned hard work. It means learning patience, delayed gratification, and contentment. It means developing the heart of a giver. Personal finance is only 20% head knowledge; the other 80% is behavior."
"To avoid this insanity, we as parents simply must say no sometimes - and stick to it. We need to assert our control and command over our households. Don't think for a second that your children aren't smart enough to manipulate you. They are. And they will as long as you let them."
"As a parent, let your yes be yes and your no be no. No is a complete sentence. It doesn't need an explanation. Have integrity. Stick to your answer. And enforce consequences for fits or negative outbursts that result from the healthy, loving boundary you set. Saying no and sticking to it take tremendous energy in the moment. However, over the scope of your life, it takes less energy because nothing is more draining than an eight-year-old brat or a self-centered teen. Few things in life are more disheartening than watching your adult child fail in his relationships, finances, career, and every other area of life because you never set boundaries for him as a child. Saying no takes energy at the time, but it saves your life and your child's life in the long run."
Grown child moving home: only for crisis. 1st, make a time limit. 2nd, they must be doing things promote healing (looking for a job for 3 hours a day, do a budget and show it to you, save a certain amount per month, exercise, good sleep, counseling). 3rd, act according to your rules (no drugs, coming home at reasonable hour, doing chores around the house).
"Is this helping my child become the self-supporting, healthy, mature adult I want him to be?"
"You will never win with money by accident, it takes planning."
May 20, 2014
I generally like the content and messaging that comes from Dave Ramsey. I have read his book "Total Money Makeoever" many times over the past few years and appreciate his mission to help folks acheive financial independence. However, I don't think there is much new here in his book co-written with this daughter. I think of lot of the principles and discussions in this book, were addressed in TMM and that this merely repeats those themes while asking his audience to fork over another $14.99. As a parent of 3 small boys, I realize that my financial behaviors will likely become their financial behaviors. I chose to read this book to gather some insights and new ideas about how to involve them in financial decision-making and put them in a position to be financially responsible when they become an adult. Whie there are a few new ideas here and items I can put into practice, I think most Dave Ramsey "fans" will feel that this is a bit redundant. If you are a parent of youngsters and are new to Dave Ramsey, I think this is a good resource for you.
August 29, 2017
I liked the information given throughout this book and also the way it was presented. Both a parent and child (ok grown child now) sharing their thoughts and experiences with finances. It may need some modifications depending on each person's experience but great for foundational information.
I really appreciated the comments made about not creating the expectation for children that they get or should have each new thing. That we should show and teach contentment and gratitude in our homes. When we're happy with what we have (obviously there's a wide range of people with nothing to people with abundance) that helps place them in a better beginning financially and doesn't find them constantly trying to "upgrade" items. Now the goal of this gratitude and contentment is heading towards less spending, greater saving and the ability to create a better life for you, your family and your children to create a better life for them and their future.
I liked reading the sections of Rachel (his daughter) as a teenager and the lessons she learned through hard work and sacrifice. Also how Dave would have a comment after Rachel's thoughts where he would add side notes of his experiences, or what brought him and his wife to teach a certain concept to their family.
Overall great advice, and not all strictly financial. Again I think that not all will apply perfectly to everyone but there are lots of great ideas and suggestions on which to have a foundation to build upon for your individual family's needs and focus.
I'd definitely recommend this to anyone with young children or teenagers. My mom bought copies for all my siblings and I after listening to one of Dave's programs where he talked about this book. I'd say find it at your library or request it so multiple people can use the info. There are ideas for younger children, ideas for teenagers and up that I will be referencing back to this book off and on because I liked what was presented for different stages of life! I'm getting to the point in life where college for my children isn't too far away.
Happy Reading!!!
I really appreciated the comments made about not creating the expectation for children that they get or should have each new thing. That we should show and teach contentment and gratitude in our homes. When we're happy with what we have (obviously there's a wide range of people with nothing to people with abundance) that helps place them in a better beginning financially and doesn't find them constantly trying to "upgrade" items. Now the goal of this gratitude and contentment is heading towards less spending, greater saving and the ability to create a better life for you, your family and your children to create a better life for them and their future.
I liked reading the sections of Rachel (his daughter) as a teenager and the lessons she learned through hard work and sacrifice. Also how Dave would have a comment after Rachel's thoughts where he would add side notes of his experiences, or what brought him and his wife to teach a certain concept to their family.
Overall great advice, and not all strictly financial. Again I think that not all will apply perfectly to everyone but there are lots of great ideas and suggestions on which to have a foundation to build upon for your individual family's needs and focus.
I'd definitely recommend this to anyone with young children or teenagers. My mom bought copies for all my siblings and I after listening to one of Dave's programs where he talked about this book. I'd say find it at your library or request it so multiple people can use the info. There are ideas for younger children, ideas for teenagers and up that I will be referencing back to this book off and on because I liked what was presented for different stages of life! I'm getting to the point in life where college for my children isn't too far away.
Happy Reading!!!
January 18, 2015
DR's foundational advice on giving, saving, and spending were right on target; but nothing exceptionally new. His advice on cars and college completely missed the mark. Either he has his rich dad rose colored glasses on, or Tennessee and California are worlds apart, or it has been a long time since he has been in the trenches but his reccomendations were down right delusional.
May 7, 2015
This book was disappointing. I'm a fan of Dave Ramsey and I generally really like his books. But this one was full of overly rigid ideas that I often disagreed with. The Ramseys also seemed fairly out of touch regarding how much money most parents can afford to spend on their children.
For example, one major point of the book was that teenagers should be saving for their first car that they buy when they're 16. I think this is silly! Most 16-year-olds should not have cars! I wouldn't necessarily forbid my child from buying a car if she paid for it herself, but a car for a 16-year-old is a luxury, not a need. Most parents are hoping that their 16-year-olds are a couple of years away from college, and that should be a much bigger savings goal rather than a rapidly depreciating, dangerous vehicle in need of insurance and constant maintenance. Dave Ramsey actually subsidized his children's car purchases by matching their savings, so half their cars were bought with his money. While I do think that matching can be a good way to encourage children to save, and I do think it's a good lesson to teach children not to buy cars with loans, I just don't like the book's premise that all teenagers should be saving for cars. It turns out that the Ramsey children could afford to waste thousands of dollars on their cars, because they had parents who would foot the entire bill for their college, weddings, and houses. But most teenagers would be better off saving for these big future expenses rather than counting out their parents.
Rachel Ramsey, the co-author of the book and Dave Ramsey's daughter, told the story of how her parents paid for her wedding. They gave her a huge check (the amount wasn't given, but I'm sure it was an amount I would find huge) and told her and her fiance to make all the plans. She came up short and just couldn't figure out how to stretch the money to get everything she wanted. She called her parents and pleaded and they decided to give her more! This is just a crazy story. Dave and Rachel seem to think that it shows how well Rachel was raised with respect to money. To me, this is a terrible example! I'm sure there were things that Rachel could cut - she just didn't want to. And didn't she or her fiance have any money of their own? (I guess it was still all going to their cars!)
I really don't fault Dave Ramsey and his wife for paying for all these things for their children. They can afford it, and their children are grateful. But they shouldn't be holding themselves up as an example of how to teach children to budget and avoid debt. All of us could budget and avoid debt if we had benefactors handing over money for all our needs and major wants!
There are still some good ideas in the book about how to pay for college without debt and encourage children to work and save. It just seemed so overshadowed by the privileged lives of the Ramsey children who were constantly presented as examples.
For example, one major point of the book was that teenagers should be saving for their first car that they buy when they're 16. I think this is silly! Most 16-year-olds should not have cars! I wouldn't necessarily forbid my child from buying a car if she paid for it herself, but a car for a 16-year-old is a luxury, not a need. Most parents are hoping that their 16-year-olds are a couple of years away from college, and that should be a much bigger savings goal rather than a rapidly depreciating, dangerous vehicle in need of insurance and constant maintenance. Dave Ramsey actually subsidized his children's car purchases by matching their savings, so half their cars were bought with his money. While I do think that matching can be a good way to encourage children to save, and I do think it's a good lesson to teach children not to buy cars with loans, I just don't like the book's premise that all teenagers should be saving for cars. It turns out that the Ramsey children could afford to waste thousands of dollars on their cars, because they had parents who would foot the entire bill for their college, weddings, and houses. But most teenagers would be better off saving for these big future expenses rather than counting out their parents.
Rachel Ramsey, the co-author of the book and Dave Ramsey's daughter, told the story of how her parents paid for her wedding. They gave her a huge check (the amount wasn't given, but I'm sure it was an amount I would find huge) and told her and her fiance to make all the plans. She came up short and just couldn't figure out how to stretch the money to get everything she wanted. She called her parents and pleaded and they decided to give her more! This is just a crazy story. Dave and Rachel seem to think that it shows how well Rachel was raised with respect to money. To me, this is a terrible example! I'm sure there were things that Rachel could cut - she just didn't want to. And didn't she or her fiance have any money of their own? (I guess it was still all going to their cars!)
I really don't fault Dave Ramsey and his wife for paying for all these things for their children. They can afford it, and their children are grateful. But they shouldn't be holding themselves up as an example of how to teach children to budget and avoid debt. All of us could budget and avoid debt if we had benefactors handing over money for all our needs and major wants!
There are still some good ideas in the book about how to pay for college without debt and encourage children to work and save. It just seemed so overshadowed by the privileged lives of the Ramsey children who were constantly presented as examples.
October 17, 2016
This would be extremely helpful if it were a mandatory read in economics class... i mean its helpful regardless. i just wish more people could read it and utilize it
July 7, 2022
I watched the accompanying video series with my kids, but I read the book on my own. I was grateful that their approach to teaching kids about money was simple and focused on the fundamentals of giving, spending, and saving. There were some ideas that I am not sure I will implement such as requiring teens to save and purchase their own car with a dollar for dollar match from the parents. I did appreciate the chapter on strategies to pay for college without going into debt. Completing college with just a bit of debt (mainly from travel during a semester abroad) made a significant difference in my life, and I hope that will continue with my children. It was a slightly simplistic, but though-provoking read.
April 25, 2014
Excellent and practical book addressing EVERY topic of parenting finically literate kids. With "kids" who are 21 and 23 years old, I particularly appreciated Dave's and Rachel's coaching on weddings and life after graduation. I will definitely buy additional copies to be shared as gifts. I also have the audio book and it was awesome to hear Dave and Rachel reading in a fun, casual tone!
October 20, 2020
Judgmental, bible thumper. Some good financial advice, but giving life advice to single parents, etc. is not something they should be doing. They need to stay in their lane.
Also, this is a very basic book, assuming that the audience has very little financial literacy. It's fine as a starting block, but for those with any sort of financial background, the tone is off.
Also, this is a very basic book, assuming that the audience has very little financial literacy. It's fine as a starting block, but for those with any sort of financial background, the tone is off.
January 2, 2015
I expected much more from this book. While it was a quick and easy read with some cute anecdotes of Rachel's childhood "growing up Ramsay", learning how to "spend, save, and give", the book was light on technical content...ie, barely a mention of time value of money, and aside from a brief mention of ESAs and 529s, no other content on investing. Some of the advice I downright disagree with...keeping your money in envelopes - really??? And credit cards, as an interest-free loan, are not the devil as the authors dictate. Most of the other advice given is incredibly obvious, ie., for parents of blended families: "All the children are to be loved by all the adults". If someone needs to read this book to get this advice, they have larger problems.
April 15, 2019
This was basic info on helping children learn to manage money from an early age and beyond. My kids are mostly grown but none have yet flown the nest, so to speak. So I purchased 5 copies of this book for them. Even though this is more for parents, I'm hoping my kids will realize how lucky and easy they have had it.
June 29, 2024
Good food for thought! Enjoyed their ideas on how to teach your kids how to handle money.
March 2, 2016
I'm really struggling with the rating for this book. I hate to give a Dave Ramsey book a three (and that's generally the lowest rating I give to any book that I actually finish), so I am starting at a cautious "four". Anyway, I wanted very badly to love this book. After all, I love Dave Ramsey, and my family has paid off nearly $80,000 in debt by following the principles he teaches. Therein lies the problem I think; he only has one message, and he's taught it well in his basic book, "The Total Money Makeover", and consistently conveys it on his radio show daily. So I feel like I've already heard it all. The book goes back and forth between Dave's perspective, and his (grown) daughter, Rachel's perspective. While it might be slightly interesting to learn what growing up Ramsey was like, it didn't really TEACH me anything new.
The chapter on college and college debt is good. I am going to read it aloud to my almost-college age kids. It's just basics but still a good read. The basic child and teen budget was helpful to me as well; just to break it down. That is Dave's strong suit; taking things that seem overwhelming and breaking them down into simple, "baby steps". I will take the budget template from the book and use it with my three teenagers.
Besides teaching stuff I already knew, the book has some other issues, however. It really speaks to teaching your children from a very young age these principles. Well, that's too late for me. And he doesn't really adequately address doing course corrections with older children. He also doesn't address a lot of my own personal questions/issues, which I guess I shouldn't expect, since he can't address every concern in one book. But I would think it might be a common question to ask something like....what to do for a grown child who hasn't yet gone to college but is maybe getting to the point of maturity to go? He doesn't address the idea that some children may not even NEED to go to college. He just assumes it.
Lastly, and I hate to say it, but he comes from the perspective of a wealthy parent. Now, I know his background, I know he went broke and lived with beat up cars and coupons and beans and rice. So I know he can relate to the position of not having much. But my point is that he was working through these things while his children were very young, and by the time they were in college, he was wealthy again. I don't think that diminishes his teachings; it somewhat substantiates them. However, I am still in debt and have college age kids, and this book has maybe about a paragraph for me (basically saying that the kids are stuck paying for college themselves).
So a lot of what I hoped to learn and gain didn't materialize in this book; hence my debate over the rating. I would recommend it to young parents who are starting out, however, particularly those who are new to the Dave Ramsey teachings. For myself, I'm glad I borrowed it from the library.
The chapter on college and college debt is good. I am going to read it aloud to my almost-college age kids. It's just basics but still a good read. The basic child and teen budget was helpful to me as well; just to break it down. That is Dave's strong suit; taking things that seem overwhelming and breaking them down into simple, "baby steps". I will take the budget template from the book and use it with my three teenagers.
Besides teaching stuff I already knew, the book has some other issues, however. It really speaks to teaching your children from a very young age these principles. Well, that's too late for me. And he doesn't really adequately address doing course corrections with older children. He also doesn't address a lot of my own personal questions/issues, which I guess I shouldn't expect, since he can't address every concern in one book. But I would think it might be a common question to ask something like....what to do for a grown child who hasn't yet gone to college but is maybe getting to the point of maturity to go? He doesn't address the idea that some children may not even NEED to go to college. He just assumes it.
Lastly, and I hate to say it, but he comes from the perspective of a wealthy parent. Now, I know his background, I know he went broke and lived with beat up cars and coupons and beans and rice. So I know he can relate to the position of not having much. But my point is that he was working through these things while his children were very young, and by the time they were in college, he was wealthy again. I don't think that diminishes his teachings; it somewhat substantiates them. However, I am still in debt and have college age kids, and this book has maybe about a paragraph for me (basically saying that the kids are stuck paying for college themselves).
So a lot of what I hoped to learn and gain didn't materialize in this book; hence my debate over the rating. I would recommend it to young parents who are starting out, however, particularly those who are new to the Dave Ramsey teachings. For myself, I'm glad I borrowed it from the library.
June 22, 2024
Useful advice on teaching money principles to your kids, including how to wisely give, save, and spend. I appreciated the emphasis on promoting personal responsibility and hard work, instead of fostering a sense of entitlement. I was also glad for the advice on teaching gratitude and contentment. Unfortunately, like other Dave Ramsey books, this one teaches a strict no-debt stance, which reduces the value of the book.
The book says, "Debt is owing anything to anyone for any reason. That includes car loans, credit cards, and yes, even student loans. Your child needs to know as early as possible that debt in any form will wreck his future financial success." It goes on to decry credit scores, saying they don't matter. There's no mention of how credit scores can affect auto insurance rates, home insurance rates, employment options, and utilities rates. I understand that there's a danger to using credit cards, but it is possible to use them responsibly (paying them off monthly to avoid paying interest) to build credit.
Notes
I Was That Little Girl…
Have kids work on commission; don't give allowance. Allowance implies kid is entitled to money simply by living, but paying for chores teaches strong work habits.
For kids 5 and under, pay upon completion of a chore.
Don't pay for all chores; there are things kids should do just for being member of family (set up table, clear table, dry dishes, etc.).
For kids 6+, have them keep it chore chart and pay them weekly. Have them put 10-20% in "Give" envelope/container, 40-45% each in "Save" and "Spend" containers.
Save: Wait for It
Consider matching your kid's savings when they have a big goal.
Give: It's Not Yours Anyway
Have child give/donate/tithe their own money, not yours; otherwise it's not truly giving, and there's no emotional connection between earning and giving.
Budgeting: Tell It What to Do
Starting at age 14, give teen lump sum at beginning of month for amount you would typically spend on them, and let them budget. Help train when beginning this process.
College: Don't Graduate from I.O.U.
Students who work 10-19 hours/week have higher GPAs on average than those who don't have jobs in college.
The more a student is responsible for paying for college, the higher the GPA.
Contentment: The War for Your Child's Heart
Help kids fight discontent; (and related envy, anxiety, etc.) by encouraging a giving heart, which leads to humility, gratitude, contentment.
The book says, "Debt is owing anything to anyone for any reason. That includes car loans, credit cards, and yes, even student loans. Your child needs to know as early as possible that debt in any form will wreck his future financial success." It goes on to decry credit scores, saying they don't matter. There's no mention of how credit scores can affect auto insurance rates, home insurance rates, employment options, and utilities rates. I understand that there's a danger to using credit cards, but it is possible to use them responsibly (paying them off monthly to avoid paying interest) to build credit.
Notes
I Was That Little Girl…
Have kids work on commission; don't give allowance. Allowance implies kid is entitled to money simply by living, but paying for chores teaches strong work habits.
For kids 5 and under, pay upon completion of a chore.
Don't pay for all chores; there are things kids should do just for being member of family (set up table, clear table, dry dishes, etc.).
For kids 6+, have them keep it chore chart and pay them weekly. Have them put 10-20% in "Give" envelope/container, 40-45% each in "Save" and "Spend" containers.
Save: Wait for It
Consider matching your kid's savings when they have a big goal.
Give: It's Not Yours Anyway
Have child give/donate/tithe their own money, not yours; otherwise it's not truly giving, and there's no emotional connection between earning and giving.
Budgeting: Tell It What to Do
Starting at age 14, give teen lump sum at beginning of month for amount you would typically spend on them, and let them budget. Help train when beginning this process.
College: Don't Graduate from I.O.U.
Students who work 10-19 hours/week have higher GPAs on average than those who don't have jobs in college.
The more a student is responsible for paying for college, the higher the GPA.
Contentment: The War for Your Child's Heart
Help kids fight discontent; (and related envy, anxiety, etc.) by encouraging a giving heart, which leads to humility, gratitude, contentment.
When your child is focused on meeting the real needs of others through giving, it becomes harder and harder for him to focus on his wants. … it's hard for discontentment to take root in a heart full of filled with humility. In the same way, it's almost impossible for selfishness to flourish in the heart of a giver.
April 30, 2024
Even though I don't agree with every one of Ramsey's financial principles, I will always trust him because he is rooted in hard work, integrity, and the gospel. I love how overtly christian all of his reasoning is. His brand is always about loving people and helping them sacrifice, give, and work hard.
What I learned from the book
-Your children need to watch you give, work, and go without
-don't call it allowance, call it a commission for the chores the children are expected to do. Every child should be given age-specific tasks even if it's as simple as making their beds, putting away dishes and clothes, and cleaning up toys. As they get older the chores will get harder.
-Your children need to be told "no".
-They need to be free to spend their own money so they can learn early that money can be useful and finite
-They need to pay for their own big expenses like a car- don't buy them their own toys. Matching their money dollar-for-dollar makes them work hard but also supports them.
-The same goes for college tuition. As long as they're done in four years, graduate with zero debt, and pick a useful major you could pay as much as half.
The most important thing is that with children, more is caught than taught. They will watch you and follow your habits more than they will do what you say.
I disagreed with Ramsey on how much to spend on a wedding. He said it's okay to spend half of your income. Ramsey is trustworthy but he can be out of touch sometimes. Not everyone is wealthy enough to spend tens of thousands on a party. This seems so counterintuitive to his usual advice.
One thing I've decided to do differently is to do my giving with physical money in person instead of online so the kids can see that important habit. I am also considering the envelope method and pay only cash for the eating out budget for the month. It's just really inconvenient to pull out cash once a month. If nothing else, this book helped me turn down an impulse buy in front of my kids. It was a giant sleeping squirtle stuffed animal so maybe turning it down was a mistake.
What I learned from the book
-Your children need to watch you give, work, and go without
-don't call it allowance, call it a commission for the chores the children are expected to do. Every child should be given age-specific tasks even if it's as simple as making their beds, putting away dishes and clothes, and cleaning up toys. As they get older the chores will get harder.
-Your children need to be told "no".
-They need to be free to spend their own money so they can learn early that money can be useful and finite
-They need to pay for their own big expenses like a car- don't buy them their own toys. Matching their money dollar-for-dollar makes them work hard but also supports them.
-The same goes for college tuition. As long as they're done in four years, graduate with zero debt, and pick a useful major you could pay as much as half.
The most important thing is that with children, more is caught than taught. They will watch you and follow your habits more than they will do what you say.
I disagreed with Ramsey on how much to spend on a wedding. He said it's okay to spend half of your income. Ramsey is trustworthy but he can be out of touch sometimes. Not everyone is wealthy enough to spend tens of thousands on a party. This seems so counterintuitive to his usual advice.
One thing I've decided to do differently is to do my giving with physical money in person instead of online so the kids can see that important habit. I am also considering the envelope method and pay only cash for the eating out budget for the month. It's just really inconvenient to pull out cash once a month. If nothing else, this book helped me turn down an impulse buy in front of my kids. It was a giant sleeping squirtle stuffed animal so maybe turning it down was a mistake.
February 3, 2017
I love me some Dave Ramsey! No matter how you feel about him personally (as I've heard many people say they think he's "mean") you cannot deny that his methods work. By the way, I don't think it's mean to call stupid behavior stupid. I think it could quite possibly be one of the kindest things to say to someone. "What you are doing is stupid and not working and something needs to change."
Anywho, this book which he co-wrote with his daughter about raising kids to be debt free throughout their life is GREAT!! I underlined half the book, it seems.
Parts of it were repetitive, but I think with good reason. Most people don't hear what they need to do one time then go do it. It was repetitive because we as humans need MANY reminders on how to do the hard thing. And delaying gratification, saving up, and saying "no" are certainly hard things. Especially in this society.
This book made me excited to teach my kids to "win with money" and not be controlled by debt. I want more than anything to teach them how to be good stewards of what we've been blessed with. And I want them to be excited about GIVING!! I don't want spoiled, entitled children and this book helped give me specific ways to avoid that mindset.
If you have kids, no matter the age, you should read this book.
Anywho, this book which he co-wrote with his daughter about raising kids to be debt free throughout their life is GREAT!! I underlined half the book, it seems.
Parts of it were repetitive, but I think with good reason. Most people don't hear what they need to do one time then go do it. It was repetitive because we as humans need MANY reminders on how to do the hard thing. And delaying gratification, saving up, and saying "no" are certainly hard things. Especially in this society.
This book made me excited to teach my kids to "win with money" and not be controlled by debt. I want more than anything to teach them how to be good stewards of what we've been blessed with. And I want them to be excited about GIVING!! I don't want spoiled, entitled children and this book helped give me specific ways to avoid that mindset.
If you have kids, no matter the age, you should read this book.
August 12, 2017
The authors rhetoric of "winning" with money is very off-putting to me. What I did like about this book is the practical tips about training and raising your kids to be wise with the money they have. Many of the ideas in this book are what we plan to do with our boys such as separating money/allowances into save-spend-give categories, starting when they are small to save up for desired purchases, instructing them on the realities of credit card debt and interest with student loans as they near that stage of life. I don't endorse the same hard line they do about never taking out loans and credit cards, but I do appreciate their push back for people to keep their spending within the limits of their actual income. Sadly, many young people and families are crippled by debt and bad financial choices and I hope to help our boys navigate these issues with wisdom and self-control.
November 25, 2020
Much of this book was repeated material from other Dave Ramsey books and classes. The packaging here favors information about teaching and modeling money habits to your kids. I like a lot of Ramsey’s principles and have benefited from them.
However, his work continues to peddle heteronormative family structures. He makes broad generalizations about gender and is misogynistic in the way he speaks about the kinds of things women do and do not do with money. He’s one-note in this regard and it’s always cringe-inducing. I wish the principles on the financial side could be packaged apart from the bullshit.
However, his work continues to peddle heteronormative family structures. He makes broad generalizations about gender and is misogynistic in the way he speaks about the kinds of things women do and do not do with money. He’s one-note in this regard and it’s always cringe-inducing. I wish the principles on the financial side could be packaged apart from the bullshit.
November 5, 2016
I think this book is great for anyone with kids. If you are familiar with Dave Ramsey, it is his general ideas brought down to kid level. You can start doing it with kids who are 3 years old! I look forward to teaching my kids to stay out of debt, win with money and not fall into the mistakes of their parents. I love how purposeful and practical it is, yet easy to do. I also appreciated the chapters on teaching kids contentment, how to have fun as a family etc. I think this read is an essential for parents. I wish I had learned this stuff at a younger age.
May 15, 2014
I felt Smart Money/Smart Kids was a good read. If I had never read a Dave Ramsey book before, maybe I would have enjoyed it more. I did skim through most of it--many of his stories everyone has read/heard before. I didn't really find any information that I didn't already know. A library borrowing book for me.
January 16, 2018
Great practical information!
Read
May 2, 2019Religios, considera ca nu esti proprietarul banilor, ci doar administratorul lor. Donatii si zeciuiala.
Bugetul pentru fiecare familie si membru al familiei mai mare de o anumita varsta.
Bugetul pentru fiecare familie si membru al familiei mai mare de o anumita varsta.
October 1, 2020
I listened with my kids and it surprisingly kept their attention. I need to read this every year.
August 30, 2022
Чудесен наръчник, съветитв от който ще започна да ползвам веднага. Синът ми е почти на 5 и вече можем да водим спокойно разговори за пари и съответно да изграждаме полезни навици в тази посока.
July 2, 2014
For many parents of Millenials, there were two topics which were simply verboten subject material for discussion with their progeny: money and sex.
This was certainly the case for both my husband and myself and the families in which we grew up. On the latter, none of our four parents spoke much at all, all the way up through our wedding day. We knew our parents expected abstinence until marriage; but that was about it (though we both heard and made decisions based being taught within a "purity culture" that existed within our churches, camps, and schools). Similarly, we were left in the dark on our parents' finances; other than knowing that 1) you work hard to earn money and 2) usually, debt is bad. The specifics, though, were private matters, not open for parent-child discussion.
While we can hardly blame our parents for being a product of their time, lack of knowledge in both areas left us making poor choices, and it has taken us years to understand aspects and principles that could have allowed us to make much healthier choices as we entered adulthood and began our family.
During his years giving advice as a personal finance radio host, coach, and author, Dave Ramsey recounts that one of the most frequent comments he heard was, "I wish we'd heard this advice years ago!" Together with his daughter, Rachel Cruze, Ramsey had a vision to ensure that the next generation doesn't have to say the same thing.
Dave Ramsey will leave it to others to tell parents how to talk to their kids about sex, but Smart Money, Smart Kids: Raising the Next Generation to Win with Money is all about helping parents raise their children with knowledge and wisdom to handle money well. But it's not just financial advice for children; many adults will find this to be a helpful survey of personal finance that will contribute to their own motivation and change, as well.
Like many others, I have definite concerns over Dave Ramsey's often caustic tone, as well as his push that certain of his opinions are universal principles. Still, I am also aware that he has helped many people (generally those outside of genuine poverty) who need and information advice in the area of personal finance.
While I worked my way through the book and as Cruze and Ramsey presented examples and scenarios, I frequently found myself making mental note that certain solutions would not work for a number of different complex situations. I was glad to find that at the end of the book, Ramsey goes through multiple examples of applying his advice within alternative family dynamics (e.g., grandparents raising grandchildren, single parents, etc...) and complex situations where the authors also emphasize extending grace and avoiding legalism. (Their definitions of grace and legalism are certainly not theological definitions, though!)
Regardless of how you choose to teach or apply the advice the Ramsey and Cruze give here, I think this book is a strong motivator toward at least being more proactive in intentionally teaching children about managing their money. It's important to note that he frequently sets an adversarially tone toward a parent-child relationship; but once those are noted, the advice can still be helpful.
Table of Contents
This was certainly the case for both my husband and myself and the families in which we grew up. On the latter, none of our four parents spoke much at all, all the way up through our wedding day. We knew our parents expected abstinence until marriage; but that was about it (though we both heard and made decisions based being taught within a "purity culture" that existed within our churches, camps, and schools). Similarly, we were left in the dark on our parents' finances; other than knowing that 1) you work hard to earn money and 2) usually, debt is bad. The specifics, though, were private matters, not open for parent-child discussion.
While we can hardly blame our parents for being a product of their time, lack of knowledge in both areas left us making poor choices, and it has taken us years to understand aspects and principles that could have allowed us to make much healthier choices as we entered adulthood and began our family.
During his years giving advice as a personal finance radio host, coach, and author, Dave Ramsey recounts that one of the most frequent comments he heard was, "I wish we'd heard this advice years ago!" Together with his daughter, Rachel Cruze, Ramsey had a vision to ensure that the next generation doesn't have to say the same thing.
Dave Ramsey will leave it to others to tell parents how to talk to their kids about sex, but Smart Money, Smart Kids: Raising the Next Generation to Win with Money is all about helping parents raise their children with knowledge and wisdom to handle money well. But it's not just financial advice for children; many adults will find this to be a helpful survey of personal finance that will contribute to their own motivation and change, as well.
Like many others, I have definite concerns over Dave Ramsey's often caustic tone, as well as his push that certain of his opinions are universal principles. Still, I am also aware that he has helped many people (generally those outside of genuine poverty) who need and information advice in the area of personal finance.
While I worked my way through the book and as Cruze and Ramsey presented examples and scenarios, I frequently found myself making mental note that certain solutions would not work for a number of different complex situations. I was glad to find that at the end of the book, Ramsey goes through multiple examples of applying his advice within alternative family dynamics (e.g., grandparents raising grandchildren, single parents, etc...) and complex situations where the authors also emphasize extending grace and avoiding legalism. (Their definitions of grace and legalism are certainly not theological definitions, though!)
Regardless of how you choose to teach or apply the advice the Ramsey and Cruze give here, I think this book is a strong motivator toward at least being more proactive in intentionally teaching children about managing their money. It's important to note that he frequently sets an adversarially tone toward a parent-child relationship; but once those are noted, the advice can still be helpful.
Table of Contents
January 6, 2015
95% of this is common sense. I appreciate Dave and listen to him all the time when he's not preaching from his mansion about how god wanted you to manage money. (what's the bible quote about rich people not getting into heaven??) He comes from a modest background and he has real life lessons to share because I feel he has earned his stripes and is educated enough to tell common Americans how to steer clear of debt. (although I don't think zero debt is actually a good thing...he's just preaching to the common Joe who can't handle debt).
However, this book loses all credibility when you learn it's mostly from the perspective of his daughter Rachel Cruz (Ramsay). She grew up with a rich dad who gave her things and made it seem like she earned it. He provided matching contributions to her "401-Dave" program to help buy a car. The other half came from time she spent working at his office and doing his odd ball chores around the house (and granted some baby sitting). While his method is slightly better than just giving her money, let's not pretend that this is a normal family. I don't think a 16 year old can afford a $16,000 car on baby sitting. Most 16 year old kids just don't get a car unless mommy and daddy buy it.
This book is a lightly veiled attempt to give Rachel everything she wanted in life and again making it look like she earned it rather than Dave just giving it to her. Now Rachel gets to author a book about something she has no first hand experience knowing. (Does Rachel even have kids?) When she says that all finance professors are basically wrong I just want to throw the book because she has no basis to question Nobel prize winning PhDs who actually did empirical evidence to back up their teachings rather than just peddling what good old dad says. It's almost as if she is just reading out of his bible blindly. How many life experiences can she really have as a 28 year old who apparently still works for daddy's company.
Is it a waste of time - no. You may pick up a few things that are helpful, but it is by far the worst of Dave's books I've read, mostly because it's not Dave. Are there other books to help you teach your kids about money - yes. I suggest you do a little Googling and don't spend your time with this unless you just need the very basics.
However, this book loses all credibility when you learn it's mostly from the perspective of his daughter Rachel Cruz (Ramsay). She grew up with a rich dad who gave her things and made it seem like she earned it. He provided matching contributions to her "401-Dave" program to help buy a car. The other half came from time she spent working at his office and doing his odd ball chores around the house (and granted some baby sitting). While his method is slightly better than just giving her money, let's not pretend that this is a normal family. I don't think a 16 year old can afford a $16,000 car on baby sitting. Most 16 year old kids just don't get a car unless mommy and daddy buy it.
This book is a lightly veiled attempt to give Rachel everything she wanted in life and again making it look like she earned it rather than Dave just giving it to her. Now Rachel gets to author a book about something she has no first hand experience knowing. (Does Rachel even have kids?) When she says that all finance professors are basically wrong I just want to throw the book because she has no basis to question Nobel prize winning PhDs who actually did empirical evidence to back up their teachings rather than just peddling what good old dad says. It's almost as if she is just reading out of his bible blindly. How many life experiences can she really have as a 28 year old who apparently still works for daddy's company.
Is it a waste of time - no. You may pick up a few things that are helpful, but it is by far the worst of Dave's books I've read, mostly because it's not Dave. Are there other books to help you teach your kids about money - yes. I suggest you do a little Googling and don't spend your time with this unless you just need the very basics.
March 25, 2022
“Smart Money Smart Kids” is the perfect title! What an impactful financial resource for parents of children of all ages (toddler through young adult) but I think the wealth of information enclosed is useful for all adults, too. It’s no surprise Dave Ramsey is “the king of finance” and trusted agent when it comes to budgeting, investing, saving, and getting out of debt. These easy financial skills you can instill in your children early will pay dividends down the road for them well into their adult life. Even substituting words like commission instead of allowance makes sense to young ears and helps them develop good money habits. I enjoyed pulling useful tips from here. It’s a book that deserves a place in a home library as it’s worth revisiting from time to time. Yes, puns intended on this review. Haha.
July 5, 2018
I would like to think I’m not one to push my personal opinions concerning anything on anyone, but this book is such a slap in the face to the debt ridden lie of the ever elusive “American Dream”. That being said, not that I completely agree with absolutely every little detail, hook, line, and sinker, per se, I completely agree with the concepts of wealth building and teaching tools to our children so they don’t repeat the stupid money messes that we as parents (speaking for myself, here) have gotten into and (thankfully) subsequently out of. I appreciate this perspective and am inspired to be even more vigilant in mapping out a legacy for my own children.
September 23, 2021
This has been on my list for a while and I finally got around to reading [listening to] it.
The book is very well written. There are many great principles, ideas, examples, and practical applications. It isn't full of fluff like many personal finance books. It covers a spectrum of situations. I've realized that while I'm pretty responsible with money and some of that may be rubbing off on my children, I'm not nearly structured enough in how I teach them and I'm not giving them enough practice.
I intend to change the way I teach my kids about money starting next week by implementing some of the ideas in this book.
The book is very well written. There are many great principles, ideas, examples, and practical applications. It isn't full of fluff like many personal finance books. It covers a spectrum of situations. I've realized that while I'm pretty responsible with money and some of that may be rubbing off on my children, I'm not nearly structured enough in how I teach them and I'm not giving them enough practice.
I intend to change the way I teach my kids about money starting next week by implementing some of the ideas in this book.
July 7, 2023
3 (ish).
I love (and also can’t stand) a lot of what the Ramsey’s teach. This book is exactly what you would expect.
A lot of chapters were so good, great advice on how to teach kids the importance of budgeting. A lot of hands on practical skills.
Some chapters 🤢. When Rachel said “I have never met a single person who can use the 0 based budget while using a credit card” wow so dramatic! Also hi Rachel, that’s exactly what we do! I had to skip the whole chapter.
A lot of Ramsey family stories that could come off holier than thou.
But overall I really like the budgeting techniques they teach.
I love (and also can’t stand) a lot of what the Ramsey’s teach. This book is exactly what you would expect.
A lot of chapters were so good, great advice on how to teach kids the importance of budgeting. A lot of hands on practical skills.
Some chapters 🤢. When Rachel said “I have never met a single person who can use the 0 based budget while using a credit card” wow so dramatic! Also hi Rachel, that’s exactly what we do! I had to skip the whole chapter.
A lot of Ramsey family stories that could come off holier than thou.
But overall I really like the budgeting techniques they teach.
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