Tuesday, June 3, 2014

Smart Money Smart Kids: A Book Review

About The Book:

Dave Ramsey and Rachel Cruze teach parents how to raise money-smart kids in a debt-filled world.
In Smart Money Smart Kids, financial expert and best-selling author Dave Ramsey and his daughter Rachel Cruze equip parents to teach their children how to win with money. Starting with the basics like working, spending, saving, and giving, and moving into more challenging issues like avoiding debt for life, paying cash for college, and battling discontentment, Dave and Rachel present a no-nonsense, common-sense approach for changing your family tree.
With practical strategies for teens and toddlers alike, Smart Money Smart Kids goes beyond simply telling you how to teach your kids about money and shows you why you must teach them these lessons today!
About The Authors:
Dave Ramsey is America's trusted voice on money and business. His four New York Times best-selling books - Financial Peace, More Than Enough, The Total Money Makeover, and EntreLeadership - have sold more than 7 million copies combined. The Dave Ramsey Show is heard by more than 6 million listeners each week on more than 500 radio stations and iHeartRadio.
Rachel Cruze is a seasoned communicator and presenter who has been speaking to groups as large as 10,000 for nearly a decade. The daughter of Dave Ramsey, she now uses the knowledge and experiences from growing up in the Ramsey household to educate America's students and young adults on the proper ways to handle money and stay out of debt.
My Review:
I love it when parents and children write books together! And I also love the teaching I have heard from Dave Ramsey on personal finances. So when the two are put together in one book, you know there is going to some dynamic info to go through. Smart Money Smart Kids is a fantastic collection of personal life stories from both father and daughter, as well as wonderful tips that will allow parents to teach children (and re-learn themselves) about debt, saving, investing, budgeting, giving, work, college and in general being content with what you have, where you are at and allowing God to use what you have.
The book was very well-written, and supremely organized. While I did read the book through chapter by chapter you can pick and choose to read a chapter, based on the life stage you and your family is at. Personally, I got so much from this book and I cannot wait to apply a few new things to our family finances. Dave Ramsey has been a huge influence on our finances in the last two years and its because of the many things that he teaches that we are finally seeing the end of our debt! Because of working through some financial difficulties, and learning tips to overcome, both in this book and Ramsey's others, we have learned valuable lessons that we are certain will follow us the rest of our days, as well as allow us to teach our young children (only 7 and 5) to help them now and later in life. 
My favorite tips regarded allowance and giving younger children jobs. I loved the idea of looking at it as commission not allowance! We don't pay our children for helping out around the house with typical chores like making their beds or cleaning up their toys, for example. Those are things we expect them to do as a member of the family. However, they earn the opportunity to make money or things (we use a token system for larger items they want) by helping with things like working in the garden, taking garbage out, sorting recycling, etc. One example was when the girls wanted the hit movie, Frozen on DVD. We said they could have it, but had to earn it by doing "extra" chores over a two week period. For every job done they earned a certain dollar amount and it was saved for them. It took them two weeks to earn it, and they very much enjoyed "earning money". I loved that they have been learning that impulse buying is not always satisfactory and that we have to save for things we want. 
This is absolutely a book I will refer to repeatedly throughout the upcoming parenting years!
I highly recommend this book and give it a huge thumbs up!
BUY IT: You can purchase Smart Money Smart Kids at your favorite bookseller from Thomas Nelson
***I received a complimentary copy of this book, courtesy of BookLook Bloggers and Thomas Nelson, for the purpose of review on this blog. All opinions expressed are my own, and I have not been compensated in any other manner***

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