Thursday, October 9, 2014

Smart Money, Smart Kids by Dave Ramsey and Rachel Cruze - A Book Review

Smart Money, Smart Kids is a book by Dave Ramsey and Rachel Cruze. You may have heard of Dave Ramsey and his book Total Money Makeover. This book comes from the same premise of teaching your children the principles from the total money makeover so they won't make the same mistakes that you may have when they grow up.

Ramsey and Cruze present a method for teaching your children about money called the envelope method. Your child will have an envelope for save, one for give, and one for spend. Your child will divide the money they earn among these envelopes and you will teach them that once their spend money is gone for the month, that's it. They learn by doing. I tried this for a while with my daughter and she was learning a lot about money. It also was a good way to get her to help out a little more around the house (though she had chores that were required without getting money for them). Ramsey and Cruze also discuss important issues for the teenage years like how to pay for college(scholarships, scholarships, scholarships) and saving for a car. If you want to teach your child to manage money, but you don't know where to start, this is a great book for you!

I receive these books free from Thomas Nelson Publishers as part of their BookLook Bloggers book review program. I was not required to write a positive review. The opinions I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255 : “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

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