This post is sponsored by Make Your Kid a Money Genius (even when you’re not). All opinions are our own.
How do you teach your kids about money management when you’re not exactly a financial wizard yourself? That’s a question I think a lot of us ask ourselves. As parents, we all want one thing for our kids: to do better than we did. I know I made a lot of money mistakes over the years and learned some very hard lessons when it comes to budgeting. I don’t want my son to go to through the same financial troubles that I’ve faced most of my life. Troubles that, had I made smarter choices early on, I probably wouldn’t be facing. Since I’m far from an expert on money matters, I turn to those who are to help me give my son the best foundation possible. That includes experts like Beth Kobliner, author of Make Your Kid a Money Genius (even when you’re not).
Make Your Kid a Money Genius (even when you’re not)
Make Your Kid a Money Genius (even when you’re not) is such a fantastic resource for parents who want to teach their kids about managing money starting as early as age three all the way through age 23. The book comes out on February 7th, but I got to take a peek at an advance copy and so far, I’m loving it. Best-selling author Beth Kobliner is a financial expert and a journalist, but the book is so straight-forward and easy to read that you don’t have to be either to understand it.
In the step-by-step guide, you’ll find plenty of “teachable moments” that help you encourage character traits that are so important to becoming financially independent. Traits like a strong work ethic, an ability to show self-control and carefully consider all of our choices, and how to work towards both immediate and distant goals. Each section is based on the latest research in psychology and child development, giving you age-appropriate tips throughout every stage of your child’s life. The format of the book makes it super easy to jump to whatever section you need when you need it most.
The book is full of surprises, too! You might just find out that some of the fantastic money habits you’ve been working on developing with your kids are actually not so great after all. I think we all know that giving in to our kids every time they beg for a candy bar at the checkout line isn’t the best idea, but did you know that it could make your child more likely to misuse credit cards as adults? Another shocking discovery: allowances or paying your kids for doing chores may not actually be the best way to teach kids about money. Even more shocking: giving your kid a wad of cash actually can be a great move!
Other surprises throughout the book include things like the problems with bribing your kids for good grades, the right way to let your adult kid move back home and when to start talking to your kids about paying for college. Throughout every chapter, you’ll find jargon-free, straightforward information that you can put into action right away. At just around 220 pages (plus a handy index at the end), it’s an easy read, even for the busiest of parents.