Saturday, July 5, 2014

You Got Kids? You Need This Book! Smart Money Smart Kids by Dave Ramsey and Rachel Cruze

Thank You BookLook for this review copy.
Dave Ramsey's ministry is one of the reasons that my "About Me" sections states, "We're debt free!".   We cut up our credit cards way back in 2001.  Most of the charges we made were for car repairs or my husband's business travel expenses that his employer didn't cover.  They weren't "I want a new dress" charges.  They were what I've heard Dave Ramsey call "stupid tax" because we didn't plan for car repairs etc.  We couldn't.  We lived too close to the edge even when we made more than twice our current income. That's another story for another day.  I will say that just this week our car broke down and needed a $400 repair.  We went to the emergency fund not to Mastercard.

After going through Financial Peace University, we were determined to get out of debt.  After a number of financial setbacks, we finally reached our goal last year.  "He whom the Son sets free is free indeed."  Praise God.  We've talked with our children in depth about not getting into bondage to a credit card company or anyone else who offers easy money.  This book is going to help us to teach them the right way to handle money.

I already have a better understanding of how to talk to my teens not only about debt, but about how to budget the money they make or receive, how to find ways to make money themselves, and how to save, spend, and give.  I hadn't thought of helping them open checking accounts yet, but Rachel and Dave recommend doing so at fourteen.  A lot of emphasis is put on saving for a car and college and other young adult expenses rather than building credit rating.   The idea is to help them learn to handle their money while you're still there to help if they have problems.  It's very hands on at first but moves toward more and more money independence.

I think this is a valuable tool for teaching your children by teaching yourself.  Five stars!


Book Description

Dave Ramsey and Rachel Cruze teach parents how to raise money-smart kids in a debt-filled world.
In Smart Money Smart Kids, financial expert and best-selling author Dave Ramsey and his daughter Rachel Cruze equip parents to teach their children how to win with money. Starting with the basics like working, spending, saving, and giving, and moving into more challenging issues like avoiding debt for life, paying cash for college, and battling discontentment, Dave and Rachel present a no-nonsense, common-sense approach for changing your family tree.
I review for BookLook Bloggers

10 comments:

  1. Stopping by from Inspire Me Monday. We are debt free as well (besides mortgage), but as my oldest approaches his teens, we are discussing money management more with him. Thanks for the recommendation.

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  2. You are welcome Tanya. I think this book is going to be helpful to me. I plan to talk to my eldest daughter about opening a checking account soon. I'll be over to visit your blog in a bit.

    Blessings,
    Laura

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  3. The choice for me is debt free! Thanks for sharing this inspiration on the Art of Homemaking Mondays. I am sure this book will bless the parents too :)

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  4. I agree Jes. I find it's all the little choices as well as the big choices that allow us to be debt free.
    Blessings,
    Laura

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  5. Living debt free is the best! I realize that for some people it is very difficult. Hubby and I have always been savers and if we charge anything we pay it off before any interest is added. Love to live frugally even when we don't need to. Thanks for sharing with SYC.
    hugs,
    Jann

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  6. Hi Jann,

    It sounds like you have a wonderful plan. I'm glad you have freedom. Love your sewing room, it looks peaceful.

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  7. Hi Jann,

    It sounds like you have a wonderful plan. I'm glad you have freedom. Love your sewing room, it looks peaceful.

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  8. Hi Jann,

    It sounds like you have a wonderful plan. I'm glad you have freedom. Love your sewing room, it looks peaceful.

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  9. Great recommenation! I do appreciate you sharing with Home and Garden Thursday,
    Kathy

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  10. You're welcome, Kathy. I appreciate the opportunity to share.

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