Tuesday, August 14, 2012

Book Review: The MoneySmart Family System

The MoneySmart Family System
by:  Steve & Annette Economides

About the Book:
"Is it possible to raise financially responsible kids of any age in a society filled with consumerism and entitlement?
New York Times best-selling authors Steve and Annette Economides raised their five kids while spending 77 percent less than the USDA predicted. And the money they did spend was also used to train their children to become financially independent. The MoneySmart Family System will show you how to teach your children to manage money and have a good attitude while they’re learning to earn, budget, and spend wisely.
Learn how to:
*Get the kids out the door for school with less stress. *End the battle over clothing—forever *Teach your children to be grateful and generous. *Inspire your kids to help with chores as a member of a winning team. *Prepare your kids for their first paying job. *Help your kids pay for their own auto insurance, and even pay cash for their own cars. *Employ strategies for debt-free college educations. *Truly help your adult children when they want to move back home. *Be prepared to deal with your adult children when they ask for bailouts.
With clear steps for children of every age, The MoneySmart Family System proves that it’s never too early, too late, or too hard to start learning financial responsibility."

My Review:
As a mom, I want to teach my kids to be Money Smart and that is why I requested this book.  Boy am I glad I did!  This is a comprehensive plan that can get me and my kids, even at their age on the right track to being Money Smart!  I wasn't sure that this book would really be an answer to the problems I have with my kids as far as money, saving and allowances go, after all my kids are older and I fully expected to just skim over the parts that didn't apply to me and my family, but I ended up reading the whole thing, front to back.  Learning the 5/50/500 rule really opened my eyes and made me want to learn how I can avoid that pitfall.  As a frugal shopper I feel that I am on my way to teaching my kids how to get a deal, but that isn't enough, they need to know how to save, give and earn their own money so they be financially equipped in their grown lives.  I sure don't want them coming back later in life and having to support them because I didn't do my job as their parent and teacher.  I love the way this book is laid out and how the Economides break it all down and make it easy to understand and implement.  I will be referring to this book a lot in the future and highly recommend it for anyone wanting to learn how to make your Family MoneySmart, no matter the ages of your kids.

*I received this book compliments of BookSneeze for purposes of this review, however all opinions are my own.

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