Smart Money Smart Kids: Raising the Next Generation to Win with Money

Synopsis: Financial guru Dave Ramsey and his daughter, Rachel Cruze, team up to teach parents how to “raise money smart kids in a debt-filled world.” Starting with how to teach your children to work, and continuing through what your child should do with their hard earned money (spend, save, give), Dave and Rachel talk about the principles of good money management for children as well as giving the reader plenty of stories of what life was like for the Ramsey kids. The second half of the book dives into more advanced issues such as how to be debt free for life, including how to go to college debt free. My Thoughts: I’m a huge Dave Ramsey fan and I’ve read a lot of his books, but this is his first book written with his daughter, Rachel. As usual, Dave presents a no nonsense, tell-it-like-it-is guide to raising money-smart kids. However, the addition of his daughter as an author changes the feel of the book. She offers story after story of what life was like growing up as “Dave Ramsey’s daughter.” The stories she adds give the book humor and somewhat soften Dave’s usual writing style. Reading a book with two authors can sometimes feel disjointed. Not so with this book. Dave and Rachel identify themselves before each section that they write. They also use two different fonts in the book (one for Dave and one for Rachel) to help the reader remember who is writing at that point. It’s a nice touch that helps make the book feel more connected. The information presented in Smart Money, Smart Kids is the same information that Dave Ramsey has been preaching for years, but it’s tailored to apply to children. Not only do we get stories of how these principles were applied to Dave’s own children growing up (which are the best parts of the book, in my opinion), but we find out specifically how to implement them in our own families. After talking about each concept in the book, Dave and Rachel break it down by age group and tell us how to apply that concept to our own children. For instance, in the chapter on saving, we’re told that kids younger than 6 need to see their money so it should be kept in a clear container. Six to thirteen year olds need to set small savings goals such as saving for a toy. And children ages 14-18, need to learn how to save for something big, such as a car or college. What you end up with is a very practical guide for how to train your children to handle money at every age. This is a very well written book. The information presented in it is practical, timely and opposite of what the rest of the world may teach your children about money. And best of all, it’s fun to read. I highly recommend Smart Money, Smart Kids for parents of children ages 18 and younger. Your children will thank you one day for reading this book. I received a complementary PDF version of this book to review as a member of the Smart Money, Smart Kids launch team. All opinions are my own.

Hats off to Rachel Cruze and Dave Ramsey. It takes a father-daughter team to bring some coherence and sanity to the "big talk" every child and teen should be having with his/her parents. This particular book caught my eye because my daughter and I have co-published a book. Though I have heard Dave on the radio, this is my first Dave Ramsey book. Rachel gives advice like a modern day, culturally savvy, Mary Poppins remix. She's wise, short but firm with her advice, and everything she says is delivered with a spoon full of sugar. Pairing these two together has worked well for both of them as Dave is much, much sweeter in this book than he appears to be on the radio. Books are a little more warmer in presentation than live radio and don't discount Daughters' influence on their fathers. I have a shelf full of financial books, a necessity of my past work in the finance industry. I have to say this one is different as it provides the what, how, why and even some savvy predictions of your child's mental state as you introduce them to life in the real world of money. What is absent here is the dryness of the "theory" of the subject; you'll hear no accountants droning on and on. You also won't see any disturbing grandstanding as an author publicly worships his pet concepts and illustrations. You do get page after page of `dead on target' advice, analysis and real life - I did that - illustration. I'll make a prediction that if you don't buy this book now, you'll buy it one, five, ten, maybe twenty years from now as it finds a rightful place as one of the `go to ` classics of practical, financial education. It reads in living color like a novel, yet contains the wisdom of a C.S. Lewis narrative. I just couldn't put it down. For the record, I did not receive a promo copy; I ordered and paid for the book gladly to see the magic a father-daughter team could do with what is normally a dry and boring subject. This book is an entertaining and educational read. MICHAEL W. JACKSON who co-published with Rene Faith, his fifteen year old daughter, the Amazon eBook Cupid Memeing: Craving Love, Joy and Peace: Engage emotional reality in a superficial world.

Raising money smart kids certainly doesn’t happen by accident. We know this is true because we can look around and see college graduates crippled by debt, families living payment to payment for everything from couches to handbags, from cars to homes, and even for necessities like food. Debt is ordinary...regular, yet not something that most Americans, given a choice, would hope for their children. Perhaps that is why the newest book by Dave Ramsey and his daughter, Rachel Cruze, Smart Money Smart Kids, feels a bit like a life raft in choppy waters. It is written in the uniquely engaging narrative of a father and a daughter sharing thoughts in a game of ping pong. Dave shares the perspectives of a parent who admittedly and dramatically failed at finances before overcoming and raising money smart children, while Rachel presents the view of a child who was raised to be competent with money, one who skipped all the “ordinary” snares that so many of her generation get tangled within, one who represents what we hope for our children. However, Smart Money Smart Kids, while full of anecdotes of their experiences (some that are laugh out loud humorous), is more than an encouraging and entertaining narrative about one father raising one daughter. Rather, it’s true strength is in the very specific parenting strategies that can help CREATE money smart kids. Some topics include; - Steps to Intentionally develop a positive attitude toward work through chores and commissions at developmentally appropriate times. - Showing a heart-change about the uses and purposes of money, teaching that saving, giving, and spending can all be virtuous in their time and place. - How to demonstrate and require self-discipline from children in saving for purchases. - Budgeting for kids starting when they are young and giving more independence as they grow and demonstrate competence. - Developing hearts of gratitude and contentment within children. This book was both mind blowing and encouraging. Oh, the heartache we can save our children if we can be open and honest in teaching them how to have a heart of gratitude, a belief that it is all God’s anyway, and a sense of the sacred responsibility we have as stewards of resources, both financial and otherwise. Money is never just about money. Really, Smart Money Smart Kids is all about intentionality. While accidentally raising money smart kids may be impossible, INTENTIONALLY we CAN and WILL change our family tree.

This book is excellent! My husband and I are the first generation in either of our families to give much thought to money as far as budgeting, planning, thinking towards the future etc, and I was a little at a loss as to how to help my kids figure it out much sooner than the rest of us did. This book was really helpful towards that, and it was done in a non judgmental, kind, encouraging manner. Obviously we all have our strengths, and obviously Dave Ramsey's strengths were helping is kids succeed with money from a young age. His kids were earning money for their first cars before they were 10! My reality looks different than theirs, and I had to remind myself that what worked for them, isn't going to be what works for my family, but taking some of their ideas and basic principles, I can also help my kids achieve great things with their money. Quite frankly, step one is simply being aware of the value of money. What should it be used for, things you want, or things you need etc. Natural consequences, and letting your kids fail at the little decisions now are important (ie: Rachel recounts a story where she spent all of her money on one little game outside the amusement park they were at, and then had to watch her brother and sister have fun with their money inside while she was miserable and her parents wouldn't relent and give her more). I really liked though too how they encourage you to give your kids grace. Rachel recounts how one mom was proud of herself that she didn't help her son out when he went to buy the xbox he had saved up for and didn't have enough to cover tax. Rachel was incredulous and told the mom that if her 10 year old son had managed to save up nearly $400 to buy an xbox the mom should have gladly covered the tax! You want to encourage your kids, help them feel like they have succeeded, not be so caught up in semantics that you miss the opportunity to help them feel like they accomplished their money saving goal. This book was really encouraging to me, and helpful on my parenting journey. I would recommend it to anyone looking for ways to help kids understand money, and give them a foundation for succeeding later. Five stars for sure.

As a long time Dave Ramsey fan I knew that chances were slim that I would glean a lot of new information from this book. I've read all of his books, gone to FPU and listen to podcasts regularly. With that said it was still worth the read. Yes, most of it I had already heard and understood and applied but there were a couple of ideas to implement with my teen that I hadn't considered before. I liked the idea of putting money into his checking account and letting him be responsible for paying for things that I normally would like school lunch or marching band fees. This would give him practice in writing checks or using his debit card and reconciling his account. It would also give responsibility to pay on time and pay accurately. Pretty simple I know but it was a new idea for me. I like that the book is biblically based too but I'm not crazy about the NKJV - I prefer the translation from the KJV (who translates the NKJV anyway?!). I found the interpretation of one of the stories of Jesus as found in Luke 9:59 somewhat a strange one because for me it was about our willingness to sacrifice so I guess you'll have to read the book to get the details of what I'm talking about. Overall I recommend the book but for long time followers don't hold your breath for new light!

This amazing book is a practical guide to train your kids to make smart decisions about money. Let me stress again that it’s a practical guide, not theoretical, because as a parent, who has time for theoretical? Rachel Cruze was a baby when her parents filed for bankruptcy. While recovering from this difficult time, Dave and Sharon Ramsey “made the declaration that where money was concerned, we would start a new family tradition—a tradition of money knowledge, money character traits, and wealth.” Rachel and her older sister and younger brother are successful products of this declaration. Dave and Rachel share in great detail, from their respective perspectives, the money lessons taught to the Ramsey kids through the years and how you can apply them to your family. The book has chapters dedicated to the subjects of work, spending, saving, giving, budgeting, staying away from debt, and contentment (this one is critical to your child’s success). Whether you have a preschooler or a teenager about to enter college or anywhere in between, this book has you covered. Most chapters offer sensible tips broken out by age groups. If you’ve spend most of your adult life drowning in debt, can you imagine how awesome your child’s wealth building potential would be if she never, ever took on debt of any kind? This book shows you how it’s possible. Maybe you’ve worked hard, avoided debt, and saved hence you’re doing pretty well with money, but you’re worried about your child growing up to be a lazy, entitled, immature adult. Oh, is this book for you!

If Financial Peace University is the manual for recovery from being buried in debt and messed up financial situations to financial freedom, Smart Money Smart Kids is definitely the manual on how to equip our children to make smart money decisions so they can avoid the pitfall of being in unpleasant financial situations in the future. One of my favorite parts about the book is how Dave and Rachel categorized the topics into the age-appropriateness of kids. From age three to college age, you will find specific ideas that we parents can start implementing with your kids. Each chapter thoroughly talks about valuable skills and character traits that we can help instill in our kids while they are young. Starting them young is ideal because younger children are more receptive. But the book also encourages that it is never too late to start teaching them, regardless of age. Each step is a process that will not happen overnight. Perseverance and patience are important keys. There are a lot of things in life that we know our kids will learn as they go out into the world and figure things out for themselves. Being intentional in teaching them about money now is vital for how they will handle situations in the future, when they are on their own. Besides, teaching them about money is never just about money. The book digs deep about essential skills like a good work ethic, saving, spending, budgeting and so much more. But it also digs deeper and touches on the emotions tied with money like giving and contentment. Anybody will surely learn from this book. Its message will tug your hearts and make you believe that raising money smart kids is probably one of the most important legacies that you will ever give your children.

This is a must have book that all parents should have on their reading list for 2014! Dave & Rachel pack this book with so much wisdom from the child and parent side, anyone can start teaching money smart kids right away. No matter where you are financially the easy to follow steps that are laid out through out the book, is a sure way to set yourself and your children up for financial success. Even if you do not have kids yet this is a read for you as well. Preparing for when children come along is never a let down. As a mom of three sons, {23, 16, & 11} this book helped in laying out the foundation needed to help my sons be debt free, start saving for a car, and delay pleasure. Setting them up to be great husbands and fathers when the time comes. This book is set up through biblical eyes helping us understand the core of money. When we see our money as Gods and we are to be stewards of His money, we look at money in a different way. Gives giving, saving and spending have a whole new meaning. If you want to see your children be money smart kids in a debt filled world, then dive into this book. Implement all that is being said and watch the change not only in yourself but your children as well.

O livro é excelente. Além de tratar das finanças e de como ensiná-las às crianças, trata de questões como educação, paternidade e valores. Tudo daquele jeitão bem direto do Dave Ramsey. Recomendo!

Ottimo libro per prendere spunti..

This book makes me want to go back in time and put the advice to practical use in raising kids :-) I really resonate with the message of loving discipline in this book. The book gives really practical advice, it is applicable throughout the age ranges of child rearing and it gives hope that it is possible in todays society to raise children who will grow into intentional, accountable, money smart adults.

Good read great help for parents to educate their children financially now. Wish i had learnt it earlier. Never to late.

It's really good to read and although I suppose the things are common sense unfortunately we don't live in that kind of world anymore. I'm starting the envelope system for my boys so I have only good things to say about this book.