 | Millionaire Babies or Bankrupt Brats?: Love and Logic Solutions to Teaching Kids about Money Authors: Jim Fay, Kristan Leatherman Genre: Personal Finance Publisher: Love & Logic Press; 1st American Pbk. Ed edition (June 13, 2008) ISBN-10: 1930429959 ISBN-13: 978-1930429956 |
There are many books on the market about personal finances, but this one seems to be little different to me than the others I've seen.
This one takes an approach that you start teaching about finances in childhood. I couldn't agree more on this. Children seem to think money grows on trees... ours included. They don't understand that We don't have money for such and such because it's budgeted to go elsewhere.
This book provides means on how to teach child about finances that benefit them and gives them confidence as well as helps parents establish a budget not only for the children but for themselves and the family as a whole.
The book breaks down the financial categories and allows the user/reader to take a section at a time to work on that area before proceeding to the next.
So if your child thinks money grows on trees, grab a copy of this book and just uproot that notion from the get go and plant new seeds of financial know-how into him or her along with given you the branches you need to keep on growing in your financial goals.
For more information on the book, visit www.RaisingMillionaireBabies.com
About the Book:
Will your children experience the devastation of debt or the joy of abundance? Millionaire Babies or Bankrupt Brats?: Love and Logic Solutions to Teaching Kids about Money by Jim Fay and Kristan Leatherman offers practical advice applied in a loving manner to create self-reliant kids.
Millionaire Babies advocates that it’s best to start early when the price tag is - literally and figuratively - more affordable. Developmentally, the most favorable financial window for money lessons is much earlier than is commonly thought by most financial professionals. This book begins with a child’s first interest in coins and has relevance through to the boomerang kids – kids who as young adults returning home.
The use of Love and Logic principles, applied to money matters, treats every experience as a learning opportunity by lovingly placing discipline and responsibility in the child’s hands so that they learn how to make good decisions, financial and otherwise.
This book offers proven techniques such as:
• When to start allowance, why it is important, and how much to give
• How to get kids to do their chores without losing your mind
• How to use allowance as a consequence without being a punishment
• How to use money, time and possessions as collateral for cooperation
• The difference between what kids should be paid to do and what they should do because they are part of a family
• How not to be your child’s ATM and why that is vitally important
• How to get your child out of the toy store without feeling like the “bad guy”
• How and when to introduce the tools of the money trade, cash, debit and credit cards etc.
• How to teach delayed gratification by delaying the consequence
• How to teach kids how to save using a wish or gift list
About the Authors:
Kristan Leatherman is a speaker and educational consultant to parents and educators.
Jim Fay has written many books including Parenting with Love and Logic (Pinon Press, 1992, 2006), Parenting Teens with Love and Logic (Pinon Press, 1992, 2006) From Innocence to Entitlement, Love and Logic Magic for Early Childhood (The Love and Logic Press, 2000), Love and Logic Magic When Kids Leave You Speechless (The Love and Logic Press, 200), and Teaching with Love and Logic (The Love and Logic Press, 1995).
All of these books are designed to help teachers and parents have more fun and less stress while raising responsible kids. Parenting with Love and Logic is available in Spanish and Japanese. Visit http://www.loveandlogic.com/.
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