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.

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.

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.

My husband and I read 'Total Money Makeover' we are half way out of debt in just 1 year it's been an amazing journey so far and we've learned so much and have grown so much, not just as a couple or individual but as a family. Our son is 8 and we also have a 2 year old and we've started the steps with our son as I've been reading 'Smart Money Smart Kids' and it has been the best thing a parent can give a child. Again, he is 8 and he is now more responsible than a lot of adults I know. Here's the catch and it teaches you in the book 'Better caught, than taught' meaning if you're kids see you eating fast food all the time but you're constantly telling them to eat healthy, it's not going to work. We budget every month and talk about it everyday, he hears us talking about it and sees us practicing it everyday. Great thing about Dave Ramsey is while reading his books, it literally feels like he is sitting in front of you taking to you, you'll never put the book down! Great read and an amazing way to get out of debt and how to teach your children to never know what debt is. Debt is a drug, feels good when you're buying something you really want even if you have to borrow the money to buy it but later when you have to pay it back it's not worth it. Do the rehab, gain the strength and patience and you will win!

If you listened to Dave Ramsey then you already know what the theme of this book is.This book follows the same format as his Financial Peace book, but geared to the parent to help their child. Most of the things listed in the book is good if you can get your children when they are very young (pre-school and elementary school age). There is a chapter for non-nuclear families (i.e. tradational Mother, Father, and 2.3 kids), so if you read this as a non-custodian parent or single parent, etc, they do give you advice on how to handle these more common situation. Have Rachel tell her point as a child being taught these values (or the guinea pigs) and knowing that your children will not be damaged because you teach them that you are not a ATM, they have to work, and they get what they put in, is great lesson. My children are teenagers, high schoolers, and I apply this to them. So even if you start late, you can still use these principles. As a divorced, non-custodian parent, who only gets two months out of the year with her children, I don't worry about what the other parent is teaching them and just teach them the basics so they don't get caught up with debt is the way of life mentality. Dave even allows us, non-custodian parents let go of the guilt of not being with our children all the time and having to be the fun, broke parent and trying to "buy their love". So remember, more is caught than taught.

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.

"Smart Money Smart Kids" by Dave Ramsey and Rachel Cruze is an outstanding resource for parents looking to instill sound financial principles in their children. The book is filled with practical advice and real-life examples that make teaching kids about money engaging and effective. Dave and Rachel cover everything from budgeting and saving to giving and spending wisely. The book's straightforward approach makes it easy to implement their strategies in everyday life. I particularly appreciated the emphasis on teaching kids the value of hard work and responsibility. This book is a must-read for any parent wanting to give their kids a strong financial foundation. Highly recommend!

The writing style is just like sitting in the den talking with Dave and Rachel live. I love his radio show and this book did not disappoint. Get tips and a good guideline for NOT adding to the entitlement attitude so prevalent with our kids these days. My boys are used to hearing my go into my "Dave Ramsey" mode. I bought the Florida Prepaid College fund when they were babies, they are 14 and 12 now. Dave is highly against it, but it does give me peace of mind as a single mom with a flaky ex-husband who would not have been onboard sharing college expenses when the time comes. Having said that, I also have 529s for both boys, they EARN their own money by doing their fair share of the work around the house. We don't call them CHORES, they are responsibilities necessary for learning to become functional adult men and moving out of Mommy's house when they graduate from college. Both boys have "Mad Money" accounts that their money goes into, and 20% always goes into savings for that elusive car when they need one. I will match their funds when the time comes and occasionally talk about what kind of car they want and what they need to have in the bank to make it happen. It is NEVER too soon to teach fiscal responsibility and seeing the account balances online really helps them set goals and focus on making it happen. Both boys bought their own laptops (nice ones!) this year and they definitely take better care of them knowing they invested their own earnings into the purchase. Thank you Dave and Rachel for your wonderful insight and the great way you impart your financial wisdom.

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.

It's a great book! Financial literacy and practices should start early and should be taught at home and in school. I enjoyed reading this book and have started having my children do chores around the house and earn their commission. My daughter bought her 1st item using her 1st earned commission, and she was so happy! I highly recommend this book to all parents.

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