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The New York Times bestseller that is a must-read for any parent!
From Beth Kobliner, the author of the bestselling personal finance bible Get a Financial Life—a new, must-have guide showing parents how to teach their children (from toddlers to young adults) to manage money in a smart way.
Many of us think we can have the “money talk” when our kids are old enough to get it…which won’t be for years, right? But get this: Research shows that even preschoolers can understand basic money concepts, and a study from Cambridge University confirmed that basic money habits are formed by the age of seven. Oh, and research shows the number one influence on kids’ financial behaviors is mom and dad. Clearly, we can’t afford to wait.
Make Your Kid a Money Genius (Even If You’re Not) is a jargon-free, step-by-step guide to help parents of all income levels teach their kids—from ages three to twenty-three—about money. It turns out the key to raising a money genius isn’t to teach that four quarters equal a dollar or how to pick a stock. Instead, it’s about instilling values that have been proven to make people successful—not just financially, but in life: delaying gratification, working hard, living within your means, getting a good education, and acting generously toward others. More specifically, you’ll learn why allowance isn’t the Holy Grail when teaching your kid to handle money, and why after-school jobs aren’t always the answer either. You’ll discover the right age to give your kid a credit card, and learn why doling out a wad of cash can actually be a good parenting move.
You don’t need to be a money genius to make your kid a money genius. Regardless of your comfort level with finance—or your family’s income—this charming and fun book is an essential guide for passing along enduring financial principles, making your kids wise beyond their years—and peers—when it comes to money.
|Publisher:||Simon & Schuster|
|Product dimensions:||7.20(w) x 9.30(h) x 0.80(d)|
About the Author
Beth Kobliner is a personal finance commentator and journalist, and the author of the New York Times bestseller Get a Financial Life as well as a book for parents, Make Your Kid a Money Genius (Even If You’re Not). Beth was selected by President Obama to serve on the President’s Advisory Council on Financial Capability for Young Americans, dedicated to increasing the financial know-how of kids of all ages and economic backgrounds. A former staff writer at Money magazine, Beth has contributed to The New York Times and The Wall Street Journal and has appeared on CNN, MSNBC, Today, Sesame Street, and NPR.
Most Helpful Customer Reviews
I am a senior who has decided to read the book out of curiosity. After reading it, I realized how sorry I was that my parents did not have the book when I was growing up. My late wife would feel the same. I learned a lot about the secrets of money such as; delayed gratification, starting to save early in your life and using a credit card much less. I now find myself in a pickle by not doing those things early in my life. I am purchasing the books for the sake of my grandchildren who will probably live a much longer life than I will. I hope they will be better prepared for their retirement.
A well-written, timely, insightful book that explores financial literacy at a time when it is needed more than ever. Parents, a must-read for bettering your children's financial futures (and maybe learning something yourself). Highly recommend!
Excellent, very very complete and well structured guide for parents! I highly recommend this book to both parents and educators to teach children the value of money, manage it, and provide them with invaluable lifelong tools, much needed to thrive, which are hardly taught at home or at school. This financial education should be a progressive and integral task, as parents must be consistent, take advantage of the circumstances of everyday life to create habits, and education must be based on principles. In our complex consumer society and high advertising exposure this task may be easier if we get that saving is attractive to the children, and if we favor a smart choice of what the child is going to buy is a better acquisition, for his/her effort to postpone to a greater benefit. Beth Kobliner explains how parents can teach their children to be smarter in spending money, from the basics of money and developing the habit of saving, credit cards, insurance, retirement plan, to key concepts on investments, and more. Each topic proposes examples based on real cases, developing the subject appropriate for each age group to teach from toddlers to young adults. The book contains very nice comments from suggestions for handling tantrums during shopping to the smartest way for young people to pay for their wedding. It has very useful features with key points or rules for each topic, for example the 10 Investment rules for your Kid to Live by and The Money Genius Guide to Understanding your Paycheck, to mention a few. It also has a very interesting chapter that talks about giving, giving back from what we have received in life; this is very important, since sharing and contributing helps children to have more meaning, lead a more balanced and integral life, which translates into more happiness in life. The author also mentions interesting information about recent research on how children who learn to manage their emotions - postpone their momentary cravings to achieve something they truly desire - become more responsible for the reach of their economic decisions, resulting in adults who save more, are more successful, reach higher levels of education, manage money as a resource that allows them to achieve many things in life. My gratitude to the Publisher and NetGalley for allowing me to review the book
This is one of the most interesting and useful books I've read in a long time. Most books of this type recommend obvious things that most people would have thought of themselves. This one is different. A lot of the information and recommendations in this book are exactly the opposite of what you'd expect, but they're based on actual scientific research. For example, it explains what researchers have discovered about what concepts children can understand at different stages in their development and what that means in terms of what you should and shouldn't try to teach them about money at various ages. It also talks about what research shows about the effects of allowance, payment for household chores, after-school jobs, etc. on success later in life. This is something that parents talk about with each other, and although different people have different opinions, none of us really knew what the best way was to prepare our kids to manage their finances on their own when they become adults. This book is the first I've seen that provides advice that's actually based on something solid. All this may sound complicated or boring, but the book is really easy to follow, with a lot of real-world examples, and it's also entertaining, with really funny real-world stories. It's a very fast read, and I really enjoyed it.