“A penny is the start of a dollar—that’s what my grandmother would say,” I stated to my children as I stopped to pick up a penny off the ground. They would look at me with inquisitive expressions and I would realize that I heard such sayings all my life.
“Put your money in the bank and it will grow,” my grandmother would say to motivate me to save the gift money I had received for my birthday. Her speech was filled with such simple, common sense wisdom and she also lived in such a way that I “caught” many lessons about saving, spending and giving.
“When you need to buy something, just buy it,” was another phrase she pulled out of her common sense hat. This one I remember like it was yesterday. We were standing in a hot warehouse while she handed over cash for a new box spring and mattress set, a large expense for this waitress who worked hard, saved her paychecks and lived off her tips.
Dave Ramsey and Rachel Cruze’s new book, Smart Money Smart Kids is chock full of this type of conventional wisdom and the practical tools for parents to use as they train their child from toddler to teen. For example, in the chapter, “Work – It’s Not a Four Letter Word”, there is advice for the parent on how to get engaged and intentional when it comes to teaching toddlers through teens how and why work matters. Of course, in typical Dave Ramsey style, the book is peppered with humorous stories to help and encourage the parent to not grow weary in the important work of training a child.
In chapter 3, “Spend – When It’s Gone, It’s Gone”, natural strengths and natural weaknesses are embraced, realizing that children have natural tendencies with money. Dave writes, “Remember, though, that the biggest strength can become a weakness when overdone. A natural saver is great until he never spends and is tight-fisted with giving. A natural spender is great until she finds herself deeply in debt and unable to give….So monitor your children’s money strengths and help them keep balance.”
The unique perspective with which this father daughter team writes is entertaining and funny. Smart Money Smart Kids is the perfect resource for this generation of parents with relevant information on budgeting, debt, college and contentment. In Chapter 9, “Contentment – The War for Your Child’s Heart” the authors get right to the point about parenting during a time when there is always an upgrade and the struggle to continually desire “the next great thing”.
I often find myself remembering the phrases that my grandmother dispensed on life and how it is better to live within your means. Smart Money Smart Kids is just the resource for today’s families. Whether you are a conventional family, a single parent family or parenting after divorce, this book will be a reliable resource to help you to someday stand back and watch how confident and competent your grown money smart kids will be.