Making Allowances: A Dollars and Sense Guide to Teaching Kids About Money

by Paul W. Lermitte

A proven, step-by-step system for teaching kids how to handle their money for life On any given day, North American kids between the ages of 5 and 18 have tens of billions of dollars at their disposal. That's why now, more than ever, parents need to teach their kids how to manage their money. Written by a registered financial planner with 15 years of experience as a family financial adviser, Making Allowances shows them how. In a friendly, accessible manner, Paul W. Lermitte presents a step-by-step allowancebased system for teaching children about money. He takes readers from the basics of setting up an allowance and managing requests for loans, to handling marketing hype targeted at kids. He provides expert guidance on when to start an allowance and how much to give, how to teach kids to value money, when to start them saving for the medium and long term, where to draw the line between wants and needs, helping them with buying decisions, being generous without spoiling kids, and much more. Also contains valuable advice on saving for college tuition, including 529 plans and education IRAs.

Genres: Parenting, Money

256 pages, Paperback

Published July 15, 2002

About the author

As a family office planner to family business owners for many years, I was surprised to discover that teaching my own boys how to handle money well took a lot more work and thought than I expected! Together, my wife and I worked out a method for teaching our boys good money management, and I felt I should share what we learned along the way.

That's how my book Allowances, Dollars & Sense, for parents of children ages 5 to 12, came to be. First published in 1999, the book will soon be released in a 20th-anniversary edition. That is exciting news–and makes me very proud. I am thrilled that parents still value this book and its sequel, Dreams, Dollars & Sense, written for the parents of teens.

As a Family Enterprise Advisor, I soon realized that the topic of financial literacy was especially important for family business owners. Just like reading, the best time to teach our children fundamental principles of great money management is in early childhood. These lessons take time and maturity to take root.

Decisions, Dollars & Sense, the latest book my Family Finances series, provides financial guidance for young adults between the ages of 20 and 39. At this exciting time of life, when working on their postsecondary education or establishing a career, young people face countless and sometimes difficult decisions. This book aims to help them as they make important financial decisions that may have long-term ramifications.

To hear more from me, please read my blog at www.paullermitte.com or visit my YouTube channel.

Reviews

[Raihan]

saya ingin membaca buku ini untuk referensi tugas mata kuliah saya

[Alexa Hamilton]

Clear, step-by-step instructions/advice. The website associated with it still exists which is always a plus.

[Marco den Ouden]

See my review here: Making Allowances

[Dany Ardany]

der