Teaching Kids to be Smart with Money According to Dave Ramsey

One of the biggest things I think, we as parents, can teach our kids is how to be smart with their money (keep reading for tips by Dave Ramsey). Growing up, I had a job in High School…when I wanted a car, I saved up enough money to pay for half a used car; my parents paid the other half. I was not put on their car insurance; I had my own. Sure a lot of my friends were handed the keys to a brand new car the second they turned 16; their insurance was paid for; and if they needed gas, they used a credit card that was paid for by their parents.

Did it bother me? Not really. I learned to budget my money so that when I was in swim season, I had enough money saved up to pay my insurance and gas. I never once had to ask my parents for money to pay for either of those things. So while it may have stunk every so often to work all those hours on the weekend, what I was learning about money was something I have carried with me and something I want to instill in my kids, especially now more than ever.

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About Smart Money Smart Kids by Dave Ramsey

Smart Money Smart Kids, financial expert and best-selling author Dave Ramsey and his daughter Rachel Cruze equip parents to teach their children how to win with money. 

Starting with the basics like working, spending, saving, and giving, and moving into more challenging issues like avoiding debt for life, paying cash for college, and battling discontentment, Dave and Rachel present a no-nonsense, common-sense approach for changing your family tree.

With practical strategies for teens and toddlers alike, Smart Money Smart Kids goes beyond simply telling you how to teach your kids about money and shows you why you must teach them these lessons today!

 My Thoughts

I really like this book a lot. I’ve been a fan of Dave Ramsey for a few years now and I would have to say, this is probably my favorite book of his. It’s an easy read, which makes it easy to incorporate and instill what you learn with your children. I also like that he says that kids working and going to school is a doable thing and the whole “their grades will suffer” is a myth; basically an excuse parents make for handing everything to their children on a silver platter. The best part of the entire book is the very end where there is a section on how to set up a student budget.

Are your kids not to this point yet? Don’t worry, you should start teaching them money early. That’s why Dave Ramsey has the Financial Peace Junior kit designed for kids ages 3-12 years old.