It Makes Total Cents: 12 Conversations to Change Your Child's Financial Future

by Tom Henske

Would you ever intentionally put your child at risk of having a stressful life that leads to poor health, broken relationships, and potential substance-abuse problems? No parent would purposely do that to their children. Yet, you might unconsciously be on that path, if you are not prioritizing having talks with your kids about money, before it is too late. "If you want to know about the road ahead, ask the person coming back." That's me-I've been down this road before as a financial advisor for nearly three decades, and I've watched other parents who have been down this road, too. I've learned, by trial and error, what money topics are important to teach, when and how to teach them. If you can engage your kids in conversations about money while demonstrating your family's values, the benefits will far exceed making them fiscally responsible. If you stay diligent about bringing these conversations up once a month, your kids are going to build a money vocabulary, and more important, it will open the lines of communication between you and them in a way you might never have experienced. Parents are responsible for the development of their children's financial literacy. In the world we live in it is up to you.

126 pages, Paperback

Published August 2, 2022

Reviews

[Jennifer Blankfein · Rating 5 out of 5]

Raising children is a big responsibility. We as parents try to teach our young kids to be kind to one another, be polite, eat healthy, do homework… we provide music education, sports lessons and academic tutors. When they get a bit older we remind them to make smart decisions, drive safely, let me know when you get home. We talk about manners, good habits, values, responsibilities and goals. We teach family traditions and pass on recipes. The list of suggestions, lessons and discussions about so many topics are all part of child rearing, yet often there is something that is not explored enough, and that is MONEY and FINANCES.

Author and finance guru, Tom Henske has written a much needed book, It Makes Total Cents, to guide parents on how to discuss money with their children. Easy to read with conversation starters and a simple to follow plan, It Makes Total Cents reminds parents that the topic of money is not taboo, and a basic understanding of personal finance, not usually taught in school, is extremely important for financial autonomy and success in the adult world. Henske provides twelve valuable lessons for the parent to read, one a month…about budgeting, saving, charity, insurance, etc. He then has a 10 minute corresponding podcast to prepare you for the monthly conversation with your child. He sends you a Tik Tok for you to forward to your child…YES! A Tik Tok! What better way to engage your already savvy social media offspring? And then, at dinner you casually bring up the monthly topic for discussion.

It Makes Total Cents indeed makes total sense. This is comprehensive, valuable advice and information from Tom Henske to you and your family – we needed this push to ensure we as parents are not making monthly rent payments to apartments in different cities all over the country in addition to covering the usual insurance, cell phone and Netflix family plans while we dream of retirement.

[Jason M · Rating 5 out of 5]

Financial topics can be challenging and then to be expected to guide someone else is like climbing a high peak. The information in the book might seem like common knowledge at times - the conversation approaches and strategies to reach a younger individual is why this is a must read.