Raising Money Smart Kids: What They Need to Know about Money and How to Tell Them (Kiplinger's Personal Finance) : Book Review

"Raising Money-Smart Kids" by Janet Bodnar offers an invaluable handbook for parents looking to instill financial responsibility in their children. Bodnar provides practical advice and strategies for parents to guide their children in forming healthy money habits from an early age, setting them up for financial independence in adulthood.

The book offers a step-by-step approach for parents to follow in teaching their children about saving, spending, and investing wisely. Bodnar stresses the importance of starting early and gradually increasing financial responsibility as children grow older. By teaching children to set goals, budget effectively, and make thoughtful purchasing decisions, parents can establish a solid financial foundation that will benefit their children throughout their lives.

One of the standout features of this book is the author's emphasis on hands-on learning. Bodnar presents numerous real-life examples and exercises for parents to engage their children in money-related discussions and activities. By working together to create a household budget or starting a small business, these interactive exercises help children grasp the value of money and make informed financial choices.

Bodnar also addresses the challenges parents face in a consumer-driven society where children are constantly exposed to advertisements and peer pressure to spend. She offers helpful tips on fostering a healthy attitude towards money, including teaching children to differentiate between needs and wants and encouraging them to save for the future.

Overall, "Raising Money-Smart Kids" is a highly informative and practical guide that equips parents with the tools they need to teach their children about money management effectively. Janet Bodnar's expertise and engaging writing style make this book a must-read for any parent who wants to raise financially responsible kids.

What are readers saying?

"Raising Money-Smart Kids" by Janet Bodnar has received positive feedback from readers for its practical advice and strategies on teaching children about money management.

Readers find the book valuable for parents aiming to instill good financial habits in their children. Bodnar's straightforward writing style and extensive research to support her advice are praised. The book covers a wide range of topics, including saving, budgeting, and investing.

A common theme in the reviews is the book's emphasis on starting early when teaching children about money. Readers appreciate Bodnar's tips and strategies for engaging kids in financial discussions and activities. They find the book's approach practical and achievable, allowing parents to implement the suggested techniques.

Reviewers note that the book provides guidance on various financial topics relevant to children of different ages. From teaching young kids about money's value to helping teenagers navigate credit and debt, the book's content is comprehensive.

While the book primarily focuses on the American financial system, reviewers mention that many principles and strategies can be applied globally. However, some readers wished for more international perspectives to enhance its universal applicability.

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