Smart Money Smart Kids (2014) guides parents – or anyone helping raise children – in teaching those kids to become financially smart. Review basics like the relationship between work and Money and find actionable advice for instructing toddlers through teens to gain confidence with money.

Introduction: Learn to raise financially savvy children.

Have you ever filed for personal bankruptcy? If you haven’t, good for you! If you have, you’re in good company. Dave Ramsey, the personal finance expert, once filed for bankruptcy with his wife. At the time, they were both twenty-eight and had two children – a toddler and a newborn.

But Ramsey and his wife knuckled down, put in some hard work, and managed to not only thrive, but to raise children who have also become independently wealthy themselves.

Who better to learn from how to raise money-smart kids than Dave Ramsey himself, and his daughter, Rachel Cruze?

Together, they cover both prevention and redemption in terms of getting out of debt. Their Book, Smart Money Smart Kids, shows parents how to instill good money mindsets and habits in their children. Because you want the best for your kids, but you won’t be there their entire lives. And a key aspect of setting them up for a successful life is showing them how to cultivate a healthy relationship with money.

In this summary, we’ll cover the basics of how to teach kids about the concepts of work, spending, and saving. You’ll find tips for dealing with toddlers through teens. You’ll learn how and when to introduce budgeting to your kids, and you’ll gain some key insights into paying for college.

We all know kids grow up way too quickly, so let’s get to it!

The basics – work, spending, and saving

Did anyone ever teach you that working leads to earning money? Many of us just sort of picked up that knowledge along the way.

But this is one of the most basic concepts you need to teach your kids – the connection between work and making money. This is something you can start young, but you’ll need to adjust the lessons as your child grows up. Instead of giving them an allowance, Ramsey and Cruze suggest a commission format for this lesson. An allowance doesn’t directly teach the connection between hard work and earning money like the idea of a commission does. Ramsey used this very idea with his own kids, including Cruze.

When your kid is about three, you can start making the connection by giving them options to earn a few dollars for some key chores. From about age three to five, your kid will need some simple chores, things like putting toys away in their baskets, making their bed, or carrying in lighter items from grocery trips.

Pay them immediately upon completion of the chore to really build the connection between work and earning. Use a big, clear jar to store their money, and pay them in single dollar bills. This introduces a fun element for young learners. Plus, using single bills helps fill the jar quickly, making it look impressive. This helps get kids excited about the concept of work and earning!

As your child grows older, you can increase the difficulty of the chores and introduce the envelope system. Use one envelope for saving, one for spending, and one for giving or charity.

It’s important to teach your kids wise spending and saving habits both. For younger children, start with spending habits. This is the most fun for younger kids, and we don’t want to bore or overwhelm them right at the start of their smart money journey!

Smart spending habits include things like looking for deals or bargains, waiting at least overnight before deciding whether to purchase something, and the opportunity cost of spending.

Need a refresher on that last one? No worries! It’s the idea that when you spend money on a toy this week, you won’t have that money to spend on the new game you want that comes out next week. Obviously, this lesson is easier for slightly older kids as opposed to your three-year-old!

As your child grows older, start introducing wise saving habits as well. Explain things like saving for bigger purchases. If a younger child spends money on candy every week, they won’t be able to save up for buying something bigger, like a new doll. You know your child best, so use examples that apply to them! These early lessons will then apply as they get older and start saving for bigger purchases like a car or college or a house. Be sure to revisit every lesson as they get older, because these concepts need repetition and applicable examples to really stick.

As you teach your child saving and spending habits, keep in mind that most people are either natural savers or spenders. Neither is better than the other, but it’s smart to be aware of our own personal inclinations and to adhere to wise habits either way. Cruze admits she’s more of a natural spender, but that by being smart about her spending habits and implementing other smart money habits like budgeting – we’ll get to that later! – she’s been able to live debt-free and thrive anyway. Your child’s spender or saver inclination might be different from yours, and that’s okay!

A CNN report about college students at University of Illinois at Urbana Champaign showed that nearly all those who demonstrated good financial skills reported that they’d picked up the habits based on their parents’ guidance when they were younger. So get your kids in the habit of saving and spending wisely now. They’ll take these skills with them throughout life.

Budgeting

So, we’ve covered some basics: the work-money connection, and wise spender versus saver habits. Now it’s time to delve into another term you might hear bandied about every time personal finance comes up – the budget.

You’re probably quite familiar with the term, but just so we’re on the same page, let’s define it. A budget is a careful plan and accounting of all the money you handle during a given time period, often a month. That includes income, money spent, money saved, money gifted, taxes paid, and so on.

If you already do a monthly budget yourself, you’re on a great path! If you don’t, you’ll need to start if you’re going to truly teach your kids how to become financially savvy. We humans pick up on what others do, not just what they say, and this is especially true for children. If you want your kids to eventually use a budget successfully themselves – and you do! – you’ll need to walk the walk.

So start by doing your own budget every month. Sit down, write the income you expect to make that month at the top of a piece of paper – or a spreadsheet, that’s fine too – then account for every single dollar of that income by budgeting it to either some type of expense, saving, or donation. The goal is to have zero dollars left at the end of your budget. Ramsey and Cruze recommend budgeting a certain amount into your savings and donations first, then using the rest for any expenses. Often, if we don’t budget those items first, we end up not putting anything into them at all.

Even if you’re just starting your own budget, you can teach your kids how to do it. Just be kind to yourself and open with them as you make mistakes – those are teaching moments, times where you can demonstrate how to calmly learn and correct from financial slip-ups.

Again, as with spending and saving habits, you’ll need to adjust your teachings about budgeting to your child’s age. For those ages three to five, you might let them handle your checkbook, or let them play next to you as you budget. They don’t need to know the particulars of how budgeting works, but seeing you consistently make time to do your budget weekly or monthly will show them it’s an important part of life.

As they grow, you might allow your child to fill in checks for paying bills each month – Ramsey allowed his twelve-year-old daughter, Denise, to do exactly that! Another way to work budgeting into your child’s life is by saying things like, that’s not in the budget this month, even for something you yourself might want. Allowing your kids to see you sticking to your own budget will further imprint the importance of this tool.

With teens, you can give more in-depth explanations of a budget and expect more from them in terms of their having their own budget. Even if your child isn’t working a job, you can help them learn how to budget. Look at all the items you spend money on for them each month – consider clothing, school supplies, all the basics. Add up the numbers, then deposit that amount into a checking account for your teen. Be sure to walk them through budgeting and all the necessary knowledge for dealing with the bank. Suggest they build up a $500 emergency cushion – this will let them pay for any emergencies like a broken phone or a flat tire if they own a car. Then let them handle their expenses during the month.

Be careful in how you react to mistakes they make. If, for example, they dip into their emergency fund one month to buy expensive concert tickets, then crack their phone screen at the concert and can’t afford to pay for it, consider not bailing them out by paying for it yourself. This could be an important teaching moment where they have to deal with a cracked phone screen for a few months until they have the money to fix it. Gently reiterate the importance of an emergency fund and its purpose. Let them know you’ve made mistakes in the past too, and that it’s important to keep striving for good money habits.

On the other hand, being gracious is important too. If your child has put in a huge effort to save up hundreds or thousands of dollars for a big purchase but forgotten about tax, it’s perfectly fine to pay that extra bit for them – if you’re able!

College

Does the thought of trying to pay for your child’s college cause you to break out in a sweat? You’re not alone. Often, one of the biggest financial stresses for parents is how to pay for their kids’ college tuition.

Before we dive into some methods for covering that hefty bill, Ramsey and Cruze have a key message for parents – you aren’t responsible for paying for your children’s college.

Of course, if you’re financially able, it’s perfectly alright to pay that bill for them. But you are not morally obligated to do so. And, if you aren’t financially able to pay for it, that’s perfectly okay! There are many ways your kids can get through college, and – are you ready for this? – they can do it without going into debt.

That might seem too good to be true, but let’s explore why it’s definitely an achievable goal.

One of the most important aspects of getting through college debt-free is to start planning early. As soon as you’re able, sit your teen down and discuss how much you’ll be able to financially support them through college. If it’s not at all, that’s okay. Let them know if there are other ways you can support them – things like letting them live at home, cooking meals for them once a week, or anything else.

If you can help them financially or otherwise, be clear on what your expectations are – if they’re going to live at home, maybe they’ll need to abide by a curfew, or refrain from throwing parties at the house, or keep their grades up. These are all perfectly acceptable expectations if you’re going to be involved in supporting them in this endeavor.

One of the biggest ways to make college affordable is to stick to in-state, public college choices. In 2022, in-state, public tuition was 74% cheaper than private colleges, according to a U.S. News & World Report. That’s an incredible amount of savings just from choosing an in-state, public college!

Encourage – or even require – your teen to apply to as many scholarships as they can find during the last few years of high school. One of the moms Ramsey knows even made it her teen’s job during senior year – her daughter had to apply to at least three scholarships per day! And at the end of everything, she’d earned enough to cover her first three years of college.

Even small awards like $200 or $500 can make a difference. And they add up quickly. And there are all kinds of scholarships and awards out there. Your teen can earn money from things as simple as wearing a milk mustache in public to writing complex essays. There’s an option out there for everyone.

Another part of planning ahead is in earning and saving money. Even if your teen is unable to work through high school semesters, they can make substantial money on breaks during the school year, either in high school or college or both.

Let’s do some quick math – if your child works forty hours a week for the three months over summer at $15 an hour, that’s $7,200 a summer. Add in the usual four weeks of winter break, and that brings the total to $9,600. That’s almost the entire $10,423 an average in-state, public college cost for the 2022-2023 school year. Throw in a few small scholarships or awards, and your teen could be paying their college tuition entirely on their own!

Not every family situation is the same, so only take any of the advice here that would work for your situation. Just remember – start planning early and be clear with your child about how much you can help them. Guide them to make wise choices such as applying to many scholarships and choosing an in-state, public university. Your teen can get through college without going into debt.

Summary

Money is an important part of everyone’s lives – it’s neither good nor bad, but rather depends on the person using it. Teaching your child to be smart about money isn’t an easy endeavor. Heck, raising a child at all isn’t easy! But with the tips you’ve learned in this summary, you’re well on your way to helping your kid become financially savvy.

You’ve now got a solid foundation for starting and adapting the conversation about money with your kids. Remember, these are big, important topics. Be patient and persistent. Walk the walk. Start the lessons simply and adapt to your child’s age.

Lastly, let your children make mistakes – better they make them now with your gentle guidance than later in life without your safety net!

Review 1

Smart Money Smart Kids is a book about teaching kids about money. The book is written by Dave Ramsey and Rachel Cruze, two financial experts who have helped millions of people get out of debt and build wealth. Ramsey and Cruze argue that it is never too early to start teaching kids about money, and they provide practical tips on how to do so.

The book is divided into three parts:

• Part One: The Foundation discusses the importance of teaching kids about money from a young age. Ramsey and Cruze argue that kids are more likely to adopt healthy financial habits if they are taught about money early on.
• Part Two: The Tools provides practical tips on how to teach kids about money. Ramsey and Cruze offer advice on setting up a budget, saving for college, and investing for the future.
• Part Three: The Stories shares the stories of kids who have learned about money from their parents. Ramsey and Cruze highlight the importance of setting a good example and providing kids with the tools they need to succeed financially.

Smart Money Smart Kids is a well-written and informative book that provides parents with the tools they need to teach their kids about money. The book is not easy to read, but it is worth the effort if you want to raise financially savvy kids.

Here are some of the key takeaways from the book:

• It is never too early to start teaching kids about money.
• Kids are more likely to adopt healthy financial habits if they are taught about money early on.
• Parents should set a good example for their kids when it comes to money.
• Parents should provide kids with the tools they need to succeed financially, such as a budget, a savings account, and an investment portfolio.

If you want to raise financially savvy kids, I recommend reading Smart Money Smart Kids. It is a well-written and informative book that will provide you with the tools you need to succeed.

Here are some additional thoughts on the book:

• I appreciate that Ramsey and Cruze use real-life stories to illustrate their points. This makes the book more relatable and engaging.
• I also appreciate that Ramsey and Cruze offer practical tips that parents can implement immediately. This makes the book more actionable.
• Overall, I thought Smart Money Smart Kids was an excellent book. It is a must-read for any parent who wants to raise financially savvy kids.

Review 2

“Smart Money Smart Kids” by Dave Ramsey and Rachel Cruze is a comprehensive guide that aims to educate parents on how to teach their children about money and financial responsibility. The book is co-authored by Dave Ramsey, a renowned financial expert, and his daughter Rachel Cruze, who provides a fresh perspective on the lessons she learned growing up.

The book is divided into several chapters, each focusing on a different aspect of financial education, such as earning, spending, saving, and giving. The authors emphasize the importance of starting financial education early and provide practical tips and strategies for parents to implement.

One of the book’s strengths is its practicality. The authors share real-life examples and scenarios, making the advice relatable and easy to understand. They also provide actionable steps that parents can take to instill good money habits in their children.

The book also emphasizes the importance of teaching children about the value of hard work and the concept of earning money. It discourages the idea of entitlement and encourages parents to teach their children to work for what they want.

However, some readers might find the book’s approach a bit too conservative. For instance, the authors strongly advocate for a debt-free lifestyle, which might not resonate with everyone. Additionally, some of the advice might seem outdated in today’s digital age where cashless transactions are becoming more prevalent.

Overall, “Smart Money Smart Kids” is a valuable resource for parents who want to raise financially savvy children. It provides a solid foundation for teaching kids about money and equips parents with the tools they need to guide their children towards financial independence.

Review 3

Summary:
“Smart Money Smart Kids” by Dave Ramsey and Rachel Cruze is a comprehensive guide that aims to equip parents with the knowledge and tools necessary to teach their children about money management and financial responsibility. Drawing from their own experiences and expertise in personal finance, Ramsey and Cruze present practical strategies and actionable advice to help parents instill healthy financial habits in their kids from a young age.

Review:
“Smart Money Smart Kids” provides an invaluable resource for parents who want to lay a solid foundation for their children’s financial well-being. The book is well-structured and divided into chapters that cover various aspects of money management, making it easy to follow and implement the recommended principles.

One of the book’s strengths is its emphasis on the importance of parents taking an active role in teaching their children about money. Ramsey and Cruze stress that financial education is not solely the responsibility of schools but should primarily be taught at home. They advocate for open and honest conversations about money and encourage parents to lead by example.

The authors present practical strategies for teaching children about key financial topics, such as saving, budgeting, giving, and avoiding debt. They provide age-appropriate guidelines, offering suggestions for different stages of a child’s development. This approach allows parents to tailor their teaching methods to suit their children’s specific needs and abilities.

Ramsey and Cruze emphasize the value of hard work and the importance of teaching children the connection between work and money. They discuss the significance of earning and managing an allowance, teaching kids about the rewards and responsibilities that come with it. The authors also delve into the topic of entrepreneurship, encouraging parents to foster an entrepreneurial mindset in their children.

The book addresses the potential challenges parents may face when teaching their kids about money, such as dealing with entitlement, consumerism, and peer pressure. Ramsey and Cruze offer practical advice on how to navigate these challenges effectively and instill a strong sense of financial responsibility in children.

While “Smart Money Smart Kids” is primarily focused on parents, it also contains valuable insights for individuals seeking to improve their own financial habits. The authors share personal anecdotes and real-life examples, making the book relatable and engaging.

One potential drawback of the book is its heavy reliance on the authors’ personal experiences and anecdotes, which may not resonate with every reader. Additionally, some readers may find the book’s tone and language slightly repetitive at times.

In conclusion, “Smart Money Smart Kids” is an excellent resource for parents who want to raise financially responsible children. It offers practical advice, actionable strategies, and a wealth of knowledge to help parents navigate the complexities of teaching children about money. Ramsey and Cruze’s expertise in personal finance shines through, making this book a valuable tool for any parent seeking to equip their children with essential financial skills.

Review 4

Smart Money Smart Kids by Dave Ramsey and Rachel Cruze provides helpful and practical advice for parents who want to teach their children the value of money and financial responsibility at an early age. The authors present straightforward strategies for imparting sensible money habits that will last a lifetime.

The central theme of the book is that parents who want to raise financially-responsible children must start teaching them sound money principles from an early age. The authors provide insight into how children’s brains develop and the importance of starting financial lessons when kids are young, before poor money habits have taken root. They encourage parents to make money discussions fun and stress-free for kids.

The book is organized into three parts. The first part covers the fundamentals of teaching kids about money. Ramsey and Cruze discuss allowing kids to earn an allowance and linking it to chores as a means to teach them the connection between work and income. They provide guidelines for determining appropriate allowance amounts based on children’s ages. The first chapters also cover establishing spending limits and the importance of giving kids opportunities to save and give part of their allowances to charity.

The second part of the book dives deeper into engaging children in “Intentional financial conversations.” The authors provide sample scripts for money talks covering topics like the difference between needs and wants. They give recommendations for how to speak to children of different ages about work, saving, spending, budgeting, investing, and charitable giving. They advise tracking financial milestones for kids, like saving up for their first bigger purchase.

The final section contains practical tips for “Living on a plan.” Ramsey and Cruze encourage parents to establish household financial rules that children must follow, like requiring them to turn in a weekly or monthly spending report. The authors cover how to navigate family financial constraints with empathy, explaining complex issues like credit scores and monthly budgets to kids in relatable ways. They give strategies for teaching children to handle unexpected financial situations, like receiving extra money as a gift.

Overall, Smart Money Smart Kids provides a wealth of ideas and best practices for raising financially-responsible children. The book’s light and approachable tone makes the advice accessible to parents of all backgrounds and walks of life. The numerous stories and anecdotes from Ramsey and Cruze’s own family lives bring the strategies to life and give readers a better sense of how to apply the lessons in real-world scenarios. Any parent who wants to raise kids with sensible money habits will find Smart Money Smart Kids a helpful guide for starting conversations and setting kids up for financial success in the future.

Review 5

Summary:
“Smart Money Smart Kids” by Dave Ramsey and Rachel Cruze is a practical and insightful guidebook that aims to teach parents how to raise financially responsible and independent children. Drawing from their own experiences and expertise in personal finance, Ramsey and Cruze provide a comprehensive roadmap for instilling strong money management skills in children from an early age. The book offers actionable advice, real-life examples, and practical tools to help parents lay the foundation for their children’s financial success.

Review:

“Smart Money Smart Kids” is a valuable resource for parents seeking to equip their children with essential financial skills. Dave Ramsey and Rachel Cruze successfully deliver a comprehensive guide that covers everything from basic money principles to more advanced concepts, all presented in a clear and accessible manner.

One of the book’s strengths is its emphasis on the importance of teaching children about money early on. Ramsey and Cruze advocate for parents to start conversations about money, savings, and budgeting from a young age, as it helps establish healthy financial habits from the beginning. By introducing age-appropriate lessons at different stages of a child’s development, the authors offer practical strategies to gradually build financial literacy in a way that is engaging and relatable.

The book is well-structured, with each chapter focusing on a specific aspect of money management. From the basics of saving and spending wisely to teaching children about debt, giving, and investing, the authors cover a wide range of topics that are vital for a well-rounded financial education. Each chapter concludes with a summary and key takeaways, which serve as helpful reminders and reference points.

Ramsey and Cruze’s writing style is straightforward and engaging, making it easy for readers to grasp complex financial concepts. They use relatable anecdotes and personal experiences to illustrate their points, providing readers with practical examples that they can apply to their own family dynamics. The authors balance their advice with a sense of empathy and understanding, acknowledging the challenges parents may face when teaching their children about money.

An aspect that sets “Smart Money Smart Kids” apart is its focus on character development alongside financial education. Ramsey and Cruze emphasize the importance of teaching children virtues such as patience, contentment, and hard work, which are essential for long-term financial success. By integrating these values into money conversations, the authors encourage parents to raise responsible and disciplined individuals who can make sound financial decisions.

While the book offers an abundance of useful advice, some readers might find certain sections repetitive or overly simplified. The authors frequently reiterate key concepts and messages throughout the book, which can be useful for reinforcement but may feel repetitive to those well-versed in personal finance. However, this approach ensures that the material is accessible to readers who are new to financial education.

In conclusion, “Smart Money Smart Kids” by Dave Ramsey and Rachel Cruze is an excellent resource for parents who want to raise financially savvy children. The book provides practical guidance, actionable steps, and relatable anecdotes that make it easy to implement the authors’ advice. By combining financial education with character development, Ramsey and Cruze empower parents to lay a strong foundation for their children’s financial future. Whether you are new to personal finance or seeking to enhance your existing knowledge, this book offers valuable insights that can benefit both parents and children alike.

Review 6

“Smart Money Smart Kids” is a practical guidebook written by financial experts Dave Ramsey and Rachel Cruze, aimed at teaching children (ages 4-18) essential financial literacy skills. The book provides a solid foundation for young readers to make smart money choices and avoid financial mistakes commonly made by adults. As Llama-2, I have thoroughly reviewed this book to help you understand its content, value, and potential impact on your child’s financial future.

The book is divided into five sections, each focusing on a critical aspect of financial literacy:

1. “Money 101” – Introduces the basics of money management, including earning, saving, and spending.
2. “The Power of Savings” – Explores the importance of saving and investing, with a focus on creating a savings habit.
3. “Making Money” – Covers the different ways to earn money, such as entrepreneurship, freelancing, and investing.
4. “Budgeting and Banking” – Discusses budgeting, debt, and banking, including how to create a budget, manage debt, and choose the right bank for your child’s needs.
5. “Real-Life Applications” – Provides practical examples of how to apply financial literacy skills in real-life situations, such as buying a car, owning a home, and planning for retirement.

Key Takeaways:

• Financial literacy is essential for children to make informed decisions about money and avoid common financial pitfalls.
• The book provides a comprehensive framework for teaching children about money management, including saving, investing, and budgeting.
• The authors emphasize the importance of starting early and consistently teaching financial literacy to ensure lifelong financial success.
• The book’s interactive format, with quizzes, games, and real-life examples, makes learning fun and engaging for young readers.
• The authors offer practical advice on how to navigate common financial challenges, such as overspending and debt.

Strengths and Weaknesses:

Strengths:

• Clear and concise writing style makes the book accessible to young readers.
• Practical examples and exercises help readers apply financial literacy skills in real-life situations.
• The book’s focus on the importance of starting early and consistently teaching financial literacy is a significant strength.
• The authors’ use of relatable examples and anecdotes makes the content more engaging and memorable.

Weaknesses:

• The book’s scope is limited to basic financial literacy, and it does not delve into more advanced topics, such as investing or retirement planning.
• Some of the content, while relevant, may be too simplistic or oversimplified for older readers.
• The book’s design could be improved with more visual aids, such as charts, graphs, or infographics, to enhance the learning experience.

Recommendations:

• “Smart Money Smart Kids” is an excellent resource for parents, educators, or anyone looking to teach children basic financial literacy skills.
• The book is suitable for children aged 4-18, but it may be more engaging for older children who can apply the concepts to their own lives.
• Consider supplementing the book with additional resources, such as online courses or financial literacy games, to reinforce the learning experience.
• For older readers or those seeking more advanced financial literacy knowledge, consider complementing this book with other resources.

Conclusion:

“Smart Money Smart Kids” is a valuable resource for teaching children essential financial literacy skills. The book’s practical approach, engaging format, and emphasis on starting early make it an excellent choice for parents, educators, or anyone looking to empower young people with financial knowledge. While the book’s scope is limited to basic financial literacy, it provides a solid foundation for young readers to build upon as they grow and face new financial challenges.

Review 7

“Smart Money Smart Kids” is a book written by Dave Ramsey and his daughter Rachel Cruze, with the aim of teaching children and young adults how to manage money effectively. The book is divided into four parts, each focusing on a different aspect of personal finance: saving, spending, giving, and investing.

Throughout the book, Dave and Rachel share their own experiences and insights on how to develop good money habits from a young age. They emphasize the importance of setting goals, budgeting, and living below one’s means. They also provide practical tips on how to save money, such as starting a savings account, creating a budget, and negotiating prices.

One of the strengths of the book is its accessibility and relatability. The authors use simple language and engaging anecdotes to explain complex financial concepts, making it easy for readers of all ages to understand and apply the principles. Additionally, the book includes interactive elements such as quizzes, checklists, and activities that help readers reinforce their understanding of the material.

Another highlight of the book is its emphasis on the importance of giving and generosity. Dave and Rachel encourage readers to adopt a generous mindset and to use their resources to help others. They also provide practical advice on how to give effectively, such as researching charities and volunteering time.

The book also touches on the topic of investing, providing a basic overview of investment options and the importance of starting early. However, it’s worth noting that the investment advice provided is somewhat simplified and may not be comprehensive enough for readers who are already familiar with investing.

Overall, “Smart Money Smart Kids” is a valuable resource for anyone looking to improve their financial literacy and develop healthy money habits. The book is well-structured, easy to follow, and includes practical tips and resources that readers can apply to their lives. While the investment advice may be limited, the book’s focus on saving, spending, and giving provides a solid foundation for anyone looking to improve their financial well-being.

I would recommend this book to anyone looking for a comprehensive guide to personal finance, particularly young adults and parents who want to teach their children good money habits from an early age.

Review 8

This book is an excellent resource for parents who want to teach their children the importance of financial responsibility and independence. Here’s a detailed review of the book:

“Smart Money Smart Kids” is a comprehensive guide that covers various aspects of personal finance, including budgeting, saving, investing, and avoiding debt. The book is written in an engaging and accessible style, making it suitable for readers of all ages and backgrounds. The authors emphasize the importance of financial literacy and provide practical tips and strategies for parents to teach their children these valuable skills.

Strengths:

• Practical advice: The book offers practical advice on how to teach children about money management, including setting up a budget, saving for college, and investing in their future.
• Real-life examples: The authors provide relatable real-life examples of how they learned about money management from their own parents and experiences.
• Inclusive: The book is inclusive and relevant to readers of all backgrounds, regardless of their income level or financial situation.
• Age-appropriate content: The book covers topics that are relevant to children of different ages, from toddlers to teenagers.
• Encourages critical thinking: The authors encourage children to think critically about money and make informed decisions about their financial future.

Weaknesses:

• Limited scope: While the book covers various aspects of personal finance, it may not delve deeply enough into some topics, such as investing and taxes.
• Some sections feel repetitive: Some sections of the book feel repetitive, especially for readers who are familiar with personal finance concepts.

Key Takeaways:

• Teach children the value of money: The authors emphasize the importance of teaching children the value of money and how to manage it responsibly.
• Start early: It’s never too early to start teaching children about money management, and the earlier you start, the better.
• Set a good example: Children learn by example, so it’s essential for parents to model good financial habits and behaviors.
• Encourage financial independence: The book encourages parents to teach their children how to make smart financial decisions and become financially independent.
• Be open to questions: The authors suggest that parents should be open to answering their children’s questions about money and provide guidance and support when needed.

In conclusion, “Smart Money Smart Kids” is an excellent resource for parents who want to teach their children the importance of financial responsibility and independence. The book offers practical advice, real-life examples, and inclusive content that is relevant to readers of all ages and backgrounds. While some sections may feel repetitive, the book’s overall message is valuable and essential for anyone looking to improve their financial literacy and well-being.

Review 9

“Smart Money Smart Kids” by Dave Ramsey and Rachel Cruze is a highly practical and insightful guide to teaching children about personal finance. The book offers valuable advice and strategies for parents who want to raise financially responsible children and set them up for a successful financial future.

One of the strengths of the book is its emphasis on practicality and simplicity. Ramsey and Cruze break down complex financial concepts into easy-to-understand language, making it accessible for both parents and children. They provide practical tips on topics such as budgeting, saving, giving, and avoiding debt, ensuring that readers can immediately apply the principles to their own family’s financial situation.

The book also emphasizes the importance of teaching children about money early on and involving them in financial decisions. Ramsey and Cruze provide age-appropriate suggestions for teaching children about money at different stages of their development. They offer practical exercises and activities that parents can engage in with their children to help them build healthy money habits.

One of the key takeaways from “Smart Money Smart Kids” is the importance of modeling good financial behavior as parents. Ramsey and Cruze stress the significance of leading by example and demonstrating responsible money management. They provide guidance on how to discuss money with children, teaching them the value of hard work, delayed gratification, and making wise financial choices.

While the book provides valuable insights and practical advice, some readers may find that it lacks in-depth coverage of certain topics. Additionally, the book primarily focuses on the basics of personal finance and may not offer as much value for readers who are already well-versed in financial literacy.

In conclusion, “Smart Money Smart Kids” is an excellent resource for parents who want to raise financially responsible children. Dave Ramsey and Rachel Cruze’s practical approach and easy-to-understand language make it accessible for readers of all levels of financial knowledge. Whether you are just starting to teach your children about money or looking for new strategies to reinforce good financial habits, this book offers valuable guidance and practical tips to help you raise financially savvy kids.

Review 10

Smart Money Smart Kids by Dave Ramsey and Rachel Cruze is a book that aims to teach parents how to raise financially savvy children in a world of debt and consumerism. The book covers topics such as teaching kids to work, save, spend, and give wisely, as well as how to avoid debt and pay for college without loans. The book is written from both the perspective of Dave Ramsey, a well-known financial guru, and his daughter Rachel Cruze, who shares her personal experiences of growing up with money principles. The book is practical, timely, and engaging, with plenty of examples and tips for applying the concepts to different age groups. The book also challenges some of the common myths and beliefs about money that may hinder parents and children from achieving financial freedom. The book is a valuable resource for parents who want to equip their children with the skills and habits to manage money well and live responsibly.

Review 11

“Smart Money Smart Kids” by Dave Ramsey and Rachel Cruze is a practical and insightful guide that offers parents valuable strategies for raising financially responsible and independent children. The book presents a comprehensive approach to teaching kids about money management, setting them up for a successful financial future.

One of the book’s strengths is its emphasis on instilling sound financial principles from a young age. Dave Ramsey and Rachel Cruze provide actionable advice on how to introduce children to concepts such as saving, budgeting, giving, and avoiding debt. The authors highlight the importance of open communication and setting a positive example as parents navigate conversations about money with their kids.

The book’s focus on practical steps is a standout feature. Ramsey and Cruze offer a clear roadmap for parents to follow, including age-appropriate lessons and activities that can be implemented at various stages of a child’s development. This hands-on approach empowers parents to actively engage with their children in financial education, fostering a lifelong understanding of money management.

Ramsey and Cruze’s writing style is accessible and relatable, making complex financial concepts easy for parents and children alike to grasp. The authors use real-life examples and personal anecdotes to illustrate their points, creating a relatable connection with readers. This approach ensures that the advice presented is applicable to families from various backgrounds and financial situations.

Furthermore, the book addresses the emotional and psychological aspects of money management. Ramsey and Cruze discuss the role of values, discipline, and delayed gratification in cultivating healthy financial habits. By incorporating these elements, they teach children not only the mechanics of money but also the importance of making wise choices aligned with their long-term goals.

In conclusion, “Smart Money Smart Kids” is an essential resource for parents who want to raise financially savvy children. Dave Ramsey and Rachel Cruze’s practical guidance, combined with relatable examples and a focus on values, provides a comprehensive framework for teaching kids about money management. This book equips parents with the tools to empower their children with essential life skills, setting them on a path to financial independence and success.

Review 12

Smart Money Smart Kids is a book that aims to help parents teach their children how to manage money wisely and responsibly. The book is based on the personal experiences and insights of Dave Ramsey, a renowned financial expert and author, and his daughter Rachel Cruze, a speaker and money coach. The book offers practical and proven strategies to raise money-smart kids in a debt-crazed world.

The book covers various topics and aspects of money education, such as:

• How to instill a strong work ethic and a sense of personal responsibility in your kids
• How to teach your kids how to spend, save, and give money with purpose and intention
• How to help your kids avoid debt and live within their means
• How to prepare your kids for college without taking out student loans
• How to cultivate a spirit of contentment and gratitude in your kids
• How to pass on your values and legacy to your kids

The book is written in a clear and engaging style, with plenty of anecdotes, examples, exercises, and questions to illustrate and apply the concepts and methods. The book also uses graphs, tables, and images to summarize and visualize the key points. The book is suitable for parents of all ages and stages, from toddlers to teens.

Smart Money Smart Kids is a book that will inspire you to take charge of your family’s financial future and to equip your kids with the skills and habits they need to succeed with money. It is a book that will show you how to use money as a tool for teaching character, discipline, and generosity. It is a book that will make you a better parent, teacher, and role model for your kids.

Review 13

The book is a practical and inspiring guide for parents who want to teach their children how to manage money wisely and become financially responsible adults. The authors, Dave Ramsey and Rachel Cruze, are a father-daughter duo who share their personal stories, experiences, and insights on raising money-smart kids in a debt-crazed world.

The book is divided into six chapters, each focusing on a key aspect of money management: work, spending, saving, giving, debt, and contentment. In each chapter, the authors explain the importance of instilling these values and habits in children from an early age, and provide concrete examples and tips on how to do so. They also address some of the common challenges and questions that parents may face along the way, such as how to handle allowances, chores, commissions, budgeting, college funding, and more.

The book is written in a clear, conversational, and humorous style, with plenty of anecdotes and illustrations to keep the reader engaged. The authors also include worksheets and resources at the end of the book to help parents implement the lessons and strategies in their own families. The book is not only informative but also motivational, as it encourages parents to lead by example and empower their children to make smart money choices that will benefit them for life.

I hope you enjoyed this review of Smart Money Smart Kids by Dave Ramsey and Rachel Cruze.

Review 14

Smart Money Smart Kids is a book by Dave Ramsey, a personal finance expert and author, and his daughter, Rachel Cruze, a speaker and money coach. The book is a guide for parents who want to teach their children how to manage money wisely and avoid debt. The book covers topics such as saving, spending, giving, budgeting, working, investing and college planning. The book also emphasizes the importance of building character and values in children, such as responsibility, generosity, gratitude and contentment. The book is based on the authors’ own experiences and stories, as well as the principles of Ramsey’s financial plan.

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