Millionaire Babies or Bankrupt Brats: Love and Logic Solutions to Teaching Kids About Money

by Jim Fay, Kristan Leatherman

Will your kids experience the joy of abundance or the devastation of debt? Discover a win-win approach: Your Children win because they will learn how to solve their own problems while gaining the confidence and capability they will need to meet life's financial challenges. And you will win because you will establish healthy control now--without resorting to anger or threats; and without the guilt of having to rescue them later when they should be financially independent. Learn how to: *Put an end to the constant begging to buy *Deal with ungrateful kids or overindulgent relatives *Teach personal responsibility and financial responsibility at the same time *Use allowance to teach kids to spend, earn, borrow, save, share and invest wisely *Prepare your children for the global economy they will inherit!

Genres: Parenting

447 pages, Paperback

First published June 13, 2008

Reviews

[Tara · Rating 4 out of 5]

I didn't end up reading this entire book, but read the first third and skimmed the rest. This was a great book that helped with setting up allowances for my 11 year old and 8 year old. I loved that there were example allowance statements and bill statements. The book offered two different approaches to allowance: the money plus and the money minus. I preferred the money plus approach which divides the allowance into savings, sharing, and spending categories. I felt empowered by the idea that if my children don't follow through on chores and household duties, I can bill them and take out payments via the allowance.

[Nikki · Rating 3 out of 5]

I wasn't in the mood for this one. It's much like a text book - more of a reference manual than a straight through read. I had to return it to the library, but it might be nice to own it so I could read whenever.

[Jessica Keepe · Rating 5 out of 5]

Such a wonderful book to help kids become familiar with money, saving, investing, sharing,and spending. Definately recommend this book for anyone who has kids and wants them growing up with a strong financial head on their shoulders. It also deals with how to help kids do chores :) LOVE IT!!!

[Romie · Rating 3 out of 5]

Some good ideas, I'm not thrilled about the way this book was written. Too wordy and just never really grabbed my attention. I did like the brief Love and Logic overview. I've definitely decided against paying my kids for doing their chores.

[Megan · Rating 4 out of 5]

wonderful ways to teach kids responsible money management.

[Amy · Rating 4 out of 5]

This book gAve great real life ideas for allowances and chores. It's very natural consequence leaning at an early age when it won't destroy them!!!!