Mary Hunt's Debt-Proof Your Kids: An Interesting Thing Happened on the Way to Getting a Financially Confident Life ... My Kids Got One Too

by Mary Hunt

***COURTESY OF TWOBEARS BOOKS*** Dear Parents, Your kids are the target. And easy credit aims to teach them while they're young to spend more than they can afford. If you don't take protective measures to alert and educate your children, their financial futures could be in serious trouble. That's the bad news. The good news is I have a proven plan that shows your kids how to say "no" to the allure of consumer credit. I call it debt proofing. It's a simple plan that will give your children the financial confidence they need to live debt-free in the real world. In DEBT PROOF YOUR KIDS I share how to help children become responsible money managers. If you have children, I'm sure you're already "How will kids who spend their lunch money on video games ever learn to pay their monthly bills?" "How can they avoid credit card debt?" "How can they prosper in today's rapidly changing economy?" This plan worked for my kids, and it can work for yours too. Debt free wishes, Mary Hunt (author)

Genres: Parenting, Finance, Money

213 pages, Paperback

First published September 1, 1998

Reviews

[Lindstromsteph Lindstrom · Rating 3 out of 5]

Hunt shares her financial mistakes and takes ownership for them. She shares how she and her husband trained their two sons to take on more and more responsibility by giving them a salary at the beginning of the school year to pay for expenses; as each school year came, they increased both the salary and the responsibilities.

At the senior year, each son was able to basically manage a checking out, refuse credit card marketing, give, save and spend wisely. They were also able to graduate college debt free.

She gives good principles and values, but is short on specifics. It is published in 2006, so the finances are out of date, it can easily be adjusted to fit your situation.

[Tabitha C · Rating 5 out of 5]

Very easy to read, but now to enact the plan!

[Meghan]

Our 7yo daughter has been asking about an allowance for awhile now so I wanted to read this book since I respect Mary Hunt and was interested in her opinion on kids and money.

In their family, at around 6th grade, they give their kids a monthly "salary" for all expenses besides room and board - clothing, gifts, social events, etc. The kids are expected to save 10%, tithe 10%, and live off the rest, just as their family does.

For younger kids she has does recommend a small allowance, again using the 10/10/80 formula. I think this is what we'd like to do with our kids but we are still discussing the details of how much, etc.

[Cathy · Rating 4 out of 5]

I read this book, then my husband read it, and then we read or paraphrased it, section by section to the kids after dinner every evening. We plan to try some of the techniques with the kids. Good discussion, and I think even the six year old has a better understanding than I would've guessed. I would've liked it a little better if it had been more child-friendly. It was more geared towards parents. Had some good ideas on an important topic. The kids unanimously thought this was boring, but they understood it, and there are more important things than whether or not a book is exciting. The 9 and 6 year olds say they really liked the surprise ending!

[Heather · Rating 4 out of 5]

Very interesting ideas in a quick and easy to read book about finances. I especially liked that it had ideas for kids of all ages. It also made me think about how I talk and act with money around my kids. Really thinking about the lessons that I teach my kids when I use a debit card in front of them instead of cash.

[Leslie · Rating 5 out of 5]

Can you tell I'm thinking a lot about kids and money! Great book with interesting ideas.