My eyes always instantly light up at the sight of a marked down tag or the word clearance. It’s hard for me to pass up a good deal! Did you know that by the age of seven that basic money habits are formed? I learned the value of a dollar early in life, especially since I was mostly raised by a single mom. It may sound odd to some, but I loved scouring the clearance racks, going to garage and yard sales, flea markets, and clipping coupons when I was a child. Each activity imparted a lifelong lesson on money. This is why I strongly believe that it isn’t too early to educate your children on the value of a dollar. It can help them learn how to manage money. It can also help to keep them from getting into a financial shamble later on in life. Understanding the importance of the value of a dollar can help you save hundreds or even thousands of dollars in the long run!
In Make Your Kid a Money Genius (Even If You’re Not), Beth Kobliner shares tried-and-true financial tips in a no-nonsense yet down-to-earth manner. It’s the type of book that I can easily pick up again and again since the advice is timeless, practical, and inspiring for children and adults alike. One of the chapters that resonated with me the most is “Better, Smarter Spending,” in which she discusses how to spend money more wisely when shopping. My eyes may instantly light up at the sight of a marked down tag or the word clearance, but do I need it? Want it?
I’ve always been a bargain shopper, but I even have to be wary about clearances, sales, and coupons. Companies often have clever marketing tricks up their sleeve to try to ensure the consumer that they’re getting the best deal when they’re actually not! For an example, you probably could have passed that “Buy 2 Get 2 Free” deal on the shirts, especially since you ended up spending more on that other shirt that you didn’t need in the first place.
Inside Make Your Kid a Money Genius (Even If You’re Not), You’ll Learn That:
· Giving allowance might not improve your child’s financial know-how.
· Playing the “wants” versus “needs” game is the key to making wise spending choices. As you walk down the aisles in a store, you and your family can play the “wants” versus “needs” game by asking each other, “Want? Or need?” Needs go straight to the cart, while wants usually stay on the shelf. It doesn’t hurt to put one or two wants in the cart, though.
· It may sound like common knowledge, but saving receipts and asking about return policies can be beneficial down the road. These are important methods for a child as well, especially if the child is used to things breaking and not having any recourse.
· Caving to your preschooler’s demands in the checkout line may lead to greater credit card debt for him as an adult.
· Paying for household chores or even good grades are wrong ways to motivate your child.
Make Your Kid a Money Genius (Even If You’re Not) can be purchased at Amazon.com, Books-A-Million, IndieBound, and Barnes & Noble.
I must get this book. I think it’s key to teach kids about money and how to make the most of it before they go out on their own. Sounds like a great read.
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I always thought my mother way so annoying teaching us about money when we were kids. As an adult I am so greatful for her make sure we would make responsible choices.
It is so important to teach our kids about finances. I will have to pick up a copy of this book and read it this weekend.
I wish this was taught in school for kids. I think it would really help everyone. I read this book and was pleasantly surprised at many of the same things we were doing before reading it.
It is never too early to teach kids about money. This book is interesting. I’d like to get one for my daughter, so she can teach her twins to be money geniuses.
OurFamilyWorld recently posted..7 of the Most Fascinating Dog Breeds in the World
This is a great book. It will be a great help for parents in teaching their children about money.
I need to buy this for the grand kids. I’m trying to teach them about money and how to save.
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A truely good lesson for kids! It is a lesson that should be passed down from parents, but if not books can teach too! I am interested in how good this book is. Might have to buy in on Amazon!
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I’m certainly not a money genius! My son could really use this book for sure
I am really going to grab me a copy of this book. We always teach our son about the value of money, but I guess I am going to learn a lot from this book too.
This is absolutely a perfect book, I’d love to teach my son on how to manage money right. I would love to have this book
I have heard great reviews about this book. I should definitely get one and apply it. It is important to teach financial responsibility at a young age.
This would be a great refresher course for almost anyone if your kids are already money geniuses. I knew all this and just didn’t implement it.
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I made a lot of bad money decision when I was in my early 20s. I’m hoping I will be able to teach my son to do better. Would love to get a copy of that book. I read some really great reviews about it.
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This definitely sounds like a great book to read! I’ll have to check this out sometime.
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This is a nice and friendly resource for parents to teach their kids the value of saving. Knowing the different between want and need will surely broaden their understanding about things that matter most.