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The Barefoot Investor for Families: The only kids' money guide you'll ever need
Discover the ten things your kids need to know about money before they leave home.
Forget chore charts, guesswork and parenting you won't find any of that in this road map for raising hard-working, generous and financially confident kids of all ages. In the same easy-to-read style that made The Barefoot Investor a phenomenal success, Barefoot Investor for Families , published in 2018, is aimed at parents who want to teach their kids the value of a buck. In this #1 bestseller that has sold more than 270,000 copies, Scott Pape has taken the ten money milestones kids need to nail . . . and laid them out for you in a simple, step-by-step plan. Over the course of ten hilarious, poignant and sometimes downright crazy 'Barefoot Money Meals', you'll get the skinny Along the way, you'll meet proud mums and dads-Aussie families from all walks of life-who've used this exact plan to give their kids life-changing money skills. If you're a parent, grandparent, uncle, aunty or have children in your life, whether they're two or twenty-two, it's never too early or too late to start.
Forget chore charts, guesswork and parenting you won't find any of that in this road map for raising hard-working, generous and financially confident kids of all ages. In the same easy-to-read style that made The Barefoot Investor a phenomenal success, Barefoot Investor for Families , published in 2018, is aimed at parents who want to teach their kids the value of a buck. In this #1 bestseller that has sold more than 270,000 copies, Scott Pape has taken the ten money milestones kids need to nail . . . and laid them out for you in a simple, step-by-step plan. Over the course of ten hilarious, poignant and sometimes downright crazy 'Barefoot Money Meals', you'll get the skinny Along the way, you'll meet proud mums and dads-Aussie families from all walks of life-who've used this exact plan to give their kids life-changing money skills. If you're a parent, grandparent, uncle, aunty or have children in your life, whether they're two or twenty-two, it's never too early or too late to start.
314 pages, Kindle Edition
First published September 17, 2018
248 people are currently reading
940 people want to read
About the author
Scott Pape
7 books172 followersScott Pape is an author and radio commentator who lives in Melbourne, Australia. He is best known through his online persona, the Barefoot Investor, which is also the name of a business show he hosts.
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Displaying 1 - 30 of 119 reviews
July 30, 2019
The Barefoot Investor has been one of the top bestselling books in Australia for the past two years. Around 1 in 24 Australians own it. Of course, I scoffed at that, because "self-help", and, let's face it, I'm a bit of snob, if the masses like it, it's got to be, well, not so good...
This is the second book Scott Pape published under the "barefoot investor" umbrella. I rolled my eyes when I saw it, as yet another "milking it" publishing exercise.
I stand corrected.
I borrowed this from the library to check for myself if the hype was deserved.
Despite my scepticism, I was immediately charmed.
Yep, the cynical me has nothing to criticise about this book.
As far as I'm concerned, it was perfect. How come, you ask?
- Straight forward, practical, simple advice, no marketing spin and, especially, no spiritual mumbo-jumbo, no "believe and things will happen";
- Funny and self-deprecating;
- Advocating for "delayed gratification";
- Encouraging and agency giving to parents and kids on acquiring much needed financial skills.
I liked/appreciated this book so much, I bought a copy, breaking my "I'm not buying any more books" promise.
Now the ball is in my/our court. No more excuses!
This is the second book Scott Pape published under the "barefoot investor" umbrella. I rolled my eyes when I saw it, as yet another "milking it" publishing exercise.
I stand corrected.
I borrowed this from the library to check for myself if the hype was deserved.
Despite my scepticism, I was immediately charmed.
Yep, the cynical me has nothing to criticise about this book.
As far as I'm concerned, it was perfect. How come, you ask?
- Straight forward, practical, simple advice, no marketing spin and, especially, no spiritual mumbo-jumbo, no "believe and things will happen";
- Funny and self-deprecating;
- Advocating for "delayed gratification";
- Encouraging and agency giving to parents and kids on acquiring much needed financial skills.
I liked/appreciated this book so much, I bought a copy, breaking my "I'm not buying any more books" promise.
Now the ball is in my/our court. No more excuses!
February 6, 2019
Had no problem with most the financial advice of this book, seemed sound and practical, but highly inflexible. Easy to implement and do. Why I rated this book so low was to do with the way that this was put together, I did not enjoy his attitude towards kids. They aren't brats the parents perhaps are simply not educated or have adequate money skills. He feeds into so many horrible stereotypes about teens that I do not thing we need to participate in. Teens are highly capable, and are only responding to the way in which adults treat them. This book to me was based on a lot of fear and there was a lot of smugness in it. In that sense it was a hard read for me. I ended up skipping a lot of his trash talk and going straight for the info.
A lot of the stuff on the list my kids had naturally achieved, because they are not treated like idiots when it comes to their own money. They are respected and even when they blow all their money we talk about that, how they feel, was it worth it? It is all growth and learning enabling them to trust themselves to be good with money. Money is only one way to teach kids about work ethic, there are many other ways, but the way that it is put in this book it seems that it is the only way.
A lot of the stuff on the list my kids had naturally achieved, because they are not treated like idiots when it comes to their own money. They are respected and even when they blow all their money we talk about that, how they feel, was it worth it? It is all growth and learning enabling them to trust themselves to be good with money. Money is only one way to teach kids about work ethic, there are many other ways, but the way that it is put in this book it seems that it is the only way.
December 5, 2019
I'm struggling a little with my ratings for this book. On the one hand Scott is tackling a problem so prevailant in our society today - how to raise financially literate kids. And he does it well. Giving simple, tangible techniques, easy to follow for any parent.
On the other hand, and this is the problem I personally have with this book is that this very much reads like a "one shoe fits all" solution with a whole bunch of salesy language when promoting his books. I found that part, extremely annoying.
In saying that, the language is simple and easy to follow with a very hands on approach.
On the other hand, and this is the problem I personally have with this book is that this very much reads like a "one shoe fits all" solution with a whole bunch of salesy language when promoting his books. I found that part, extremely annoying.
In saying that, the language is simple and easy to follow with a very hands on approach.
July 30, 2023
Good, but kind of useless as I don’t have kids
October 11, 2018
Scott gives an easy to follow template for anyone with children to follow. This book is a must read for anyone with kids or who think they will some day have kids. It also offers great advice for you to follow yourself, even if you don’t plan on having any children.
Deals with topics such as:
- pocket money
- superannuation (401k in Aus)
- building confidence
- quality family time
- getting a job
- setting yourself up for success
- dealing with bills
- leaving a legacy that matters
... and so much more
Do yourself a favour and buy this book, get one for a friend too.
Deals with topics such as:
- pocket money
- superannuation (401k in Aus)
- building confidence
- quality family time
- getting a job
- setting yourself up for success
- dealing with bills
- leaving a legacy that matters
... and so much more
Do yourself a favour and buy this book, get one for a friend too.
April 30, 2019
Simple, sound and practical advice on getting your kids financially literate. Have started the ‘jam jars’ with my three year old and he even is into it! Pape’s style is a little too ‘for the masses’ for me, but his humour, relatable stories and cheat sheets made for an easy and useful read.
December 31, 2022
Bit hard to review.
SO. MUCH. FILLER. Could be summed up in maybe 20 pages. Seriously.
Most of the advice is incredibly simplistic but sound; the reasoning ranges from simplistic to downright terrible.
There are so many other books (or blog posts) that give this sound advice without the excessive filler.
I'm talking the start of the chapter has an anecdote, often reminders of what's ben previously mentioned 3-4 times, as well as 'you will learn THIS' in the chapter. The actual learning could be summed up in about half a page.
I mean it comes to writing a paper, you'll often include an executive summary. It's not justified here!
I want to give it one star because I can't stand how awkward and arrogant this guy is, but I'm giving it two because we will probably implement variations of these recommendations within our own family as our children grow.
Where I'm with him:
I like the three jam jars; we'll probably call them something less lame (it very much annoys me that the day to day expenses are called 'splurge.' It's like the man barely has a grasp of the english language; splurging is occasional, not routine.) Something simple like 'Spend, save, give.'
I like the idea of having a regular meal where the focus is (for us) stewardship, financial literacy and wisdom around finances.
I REALLY like the focus on eating dinner together each night, but that was already important to me, and I was already aware of the research supporting this.
LOVE the focus on buying and selling second-hand. (We already do this a lot).
Love the idea of getting your kid to regularly host dinner parties with food they’ve cooked themselves (but more on that later).
I don't even really have any objection to the barefoot ten in isolation.
But the dude should stick to his lane (financial advice) because honestly, I don't even think he's 100% there with his actual expertise, let alone when he talks about other topics. Then he's REALLY off the mark.
Where he loses me:
-His mocking tone when speaking about his wife. ('What an idiot, she reads books on positive childhood psychology and gender-neutral parenting. Don't you know all that matters is having a good handle on money').
-Mocking tone when speaking about people who prioritise sun protection for their children. (Are you kidding me?? We live in the skin cancer capital of the WORLD.)
-His failure to understand the concept of survivorship bias. ('My parents let me play in extremely unsafe environments and I survived therefore it's fine and the subtext is any parent who is cautious is an overprotective idiot').
-The idea that fat is bad and causes cholesterol problems (outdated dietary advice, what are you doing in this book??)
-'As parents, it's ok if we get most things wrong... as long as we get a few big things right.' I get where he's coming from, but no. It's not ok if we get most things wrong?? Yes, you're going to get SOME things wrong. But it's your responsibility as a parent to be informed and to make as many informed, sensitive decisions as well as you can for the sake of your children, not check out because you've got a couple of 'big things right'?! Who decides which big things are the ones to get right? Scott Pape?!? I don't THINK so. Do your best, be informed, be constantly learning is a much better philosophy.
-Referring to children as spoilt entitled brats. Not language I think an author should be propagating.
-The testimonials that are supposed to reassure you that this is a great idea end up reading like you’ve joined a cult.
-For all his denigration of marketing as a profession, his entire book is written in very ‘marketing’ language (and written poorly at that.) I’m talking ‘try this one simple trick to solve all your problems.’
-Good luck finding a zero-fee, high-interest savings account. This is increasingly rare. Good luck even finding one that offers a fixed rate!
-I understand his anger toward commbank, but I liked dollarmites when I was a kid. I have zero recollection of any mention of credit cards (doesn’t mean they weren’t mentioned). Yes, while my first bank account was with commbank, but I didn’t stay with them for very long. I may have been sent mail trying to get me to sign up, but I never received it. What I’m saying is that while his criticism is valid, he fails to acknowledge the fact that it got kids interested in and invested in money because it made money fun.
-Suggesting that a multi-millionaire who only eats a cheese sandwich for lunch is someone to aspire to be (when Pape has previously mentioned earlier that it’s important for kids to ALSO be comfortable with spending, or they will be the miserly person with no friends because they don’t want to shell out on the occasional meal out). I don’t want to be the guy with the four kids ordering separate meals from uber eats but I ALSO don’t want to be the dude with the cheese sandwich. It’s not nutritionally sound, for one! Secondly, eating out is not a ‘waste of money.’ It’s an experience. It supports small businesses. It forces you to take time out of your day to have a break, from either work or home life. It’s an opportunity to try something you wouldn’t normally eat. There are so many wonderful things about eating out. Eating out is not the problem. Doing it all the time, especially when you cannot afford it, is.
-Honey, there is no WAY I am waiting until my child is a TEENAGER to introduce them to food, nutrition, cooking, eating. My child is one year old and we’ve already bought her the safe step ladder for her to be in the kitchen with us while we prepare meals. She’ll be involved from a very young age.
-There’s nothing wrong with talking about the benefit of volunteering, but maybe LEAD with the fact that there are less fortunate people and THEY could use the help, as the primary reason for volunteering??
-Credit cards rewards systems not being as good as they once were isn’t necessarily a reason to stop using the system. For a lot of people, this is a way to significantly reduce the cost of travel, for example, as long as they have the discipline to pay off the card each month and never pay interest.
-I REALLY hate the judgey mentality he advocates for in relation to credit cards. ‘You’re so smart you don’t need one?’ That’s elitist, one-up-man-ship rubbish. Credit cards are not wise as a general rule, but I’m not going to raise children who walk around judging anyone who has one (or appears to have one— it might even just be a debit card).
-While I appreciate the THEATRE of blending the credit card, it’s internally inconsistent. ‘In this family, we don’t do credit cards. But mum and dad DID do a credit card and now we’re blending it.’ I get that you can frame it as ‘we don’t do this ANYMORE’ but I don’t like the concept of lying to your child if you never had one by pretending a gift card was a credit card for the sake of making a point.
Where he really, really loses me… is the part time job and barefoot betty.
Don’t get me wrong, I am ALL for a part time job.
Your kid will learn so much from their first casual role, if they’re paying attention and if you’ve laid good groundwork.
Within this chapter, there’s a lot of good but there’s SO much bad.
Let’s start with the suggestion that a child going to school with the flu and completing an exam was something to be celebrated; an example of ‘overcoming hardship’ to bring up in an interview. Please do not do this, especially in the age of covid. Please do not go to school with the flu, or any illness, believe me your teacher will be HAPPY to reschedule the exam! And if you’ve ever done this, then please do not bring it up in an interview as a GOOD thing!
Then we get to the conflation of a cover letter and resumé. What he’s calling a resumé is a cover letter. (Also, calling it zero to hero? My child is not zero, and a document will not make them a hero).
Oh and ‘by getting a job, your teen will be forced to overwrite the negative stories inside their head with genuine, tangible, positive ones — which will hugely impact the rest of their life.’
I’m sorry, what?? Way to oversell a job, dude. It’s just a part time job. Probably one with a whole heap of toxicity your poor kid will have to navigate. Toxic work environments will be something they’ll probably have to navigate for the rest of their life, I’d rather have a balanced perspective: you’ll learn a whole heap of REALLY VALUABLE life skills. Never underestimate the value of showing up with a good attitude, a smile on your face, and a willingness to do the work. At this point in your career, everyone you’re working with except your manager is basically on the same level, so you don’t need to worry so much about scope creep and responsibilities, as you’re all sharing them together. Your job WILL get tedious; every job does sometimes. You learn to look for the good. And if your boss is abusive, fails to pay you, or encourages bullying, that’s not ok, and there are laws to protect you in the workplace. It’s a good idea to know what they are.
A job is NOT going to overwrite negative stories. It just isn’t. It may contribute to growth in confidence and independence, yes, but there are so many other factors in a teen’s life that influence the stories they tell themselves that the best you can claim is that the job will CONTRIBUTE to the rewriting of their stories, if they have a good experience and a good mindset.
In the next chapter, we get into workplace culture. This is where I was scribbling furiously like my life depended on it.
‘The lessons you teach your teen over the next few weeks could add millions of dollars to their net worth over their lifetime, and make them happier than 70 per cent of the working population.’
DUDE. There is so much wrong here I don’t even know where to start.
There are so many factors involved in a promotion that are far outside how hard you work. In fact, working overtime in some cases can be a reason to keep you in your current role: you’ve taken on more work for less money, why would they pay you more? You’re getting so much done in the role that they’ll never find someone to replace you who will do it all, why would they move you up the ladder?
It certainly isn’t going to make you HAPPIER. Gosh. I hate ‘working makes you happy’ mindset. Can we not just acknowledge that for a lot of people the best we can hope for is a job that doesn’t make you SAD??
I absolutely hate the suggestion that we should be like a working dog that never stops. That is categorically unhealthy, and spectacularly counter to current (and existing!) research.
WE NEED A BREAK. To be GOOD AT OUR JOBS, we need to take breaks. The brain and the body both need the breather. Promoting the 24/7 work mentality is unbelievably dated, and it definitely does not guarantee the success it thinks it does.
I have every respect for families that work extremely hard. I am not anti hard work, as anyone who knows me knows. I’m actually a bit of a workaholic, so when I tell you this lesson is hard won, believe it.
YOU NEED TO STOP. By all means, work hard. But you will be paying big money for health conditions caused by chronic stress if you do not learn how to have some balance in your life.
Different people have different capacities but we ALL need a break. We do NOT need to be Betty the working dog who takes whatever scraps are thrown her way and never, ever stops working.
Work hard at your job, but have healthy boundaries, and rest hard when you’re resting!
He quotes a 2013 Gallup poll that found that more than 70% of Australians are either ambivalent or completely disengaged from their job. Given that he provides this quote immediately after describing the workplace as ‘just another version of… high school classroom: there are people slacking off, gossiping, shirking responsibility, bitching about the boss (the teacher), and blaming everyone (except themselves)’ he is suggesting that people are disengaged solely because of factors inside their control; solely because of their own attitude, with NO acknowledgement of the MULTITUDE of other factors that come into play here! Toxic workplace culture, abusive bosses, unreasonable expectations, scope creep, availability of work, the job market, lack of skills, lack of access to upskilling, biases, quota hires, the list is VERY LONG.
‘How you do any job is how you do every job.’ Well, no. I get what he’s saying, in that it’s about your attitude, but different jobs have different needs and demands of you and depending on your life stage it’s easier or harder to handle that.
‘How to spot the slackers’?? I mean, that’s absolutely not the first thing I want my child to learn from a part time job?
‘Say things like, ‘it’s not my job.’’ While at this point in your working life it’s not relevant to learn to say this because you’re all doing the same job so there’s no such thing as ‘it’s not my job’, it becomes very important later in life to know how to recognise when you’re being taken advantage of and learn how to politely navigate pushing back on that which is NOT your job.
There’s nothing wrong with being known as the kid who gets it done. I do want to teach my kid the value of hard work, but ALSO the value of knowing their worth (at this point in their career, it isn’t very much because they don’t have any skills or experience) and ALSO know when it’s time to push back.
It’s reasonable to encourage your teen to get the reputation for working hard, yes. That’s something to be proud of.
But to connect it to the idea of getting pay rises and promotions is just setting your kid up for failure. Better to teach them that being known for working hard is ONE factor of many in getting promotions, and that promotions should be carefully considered before chasing them or accepting them, especially in retail and hospitality (where a promotion typically includes a massive increase in responsibility with little to no increase in pay).
Sometimes you don’t want to take a promotion, because the increased responsibility will be too much stress at this point in your life, or it will require you to be away from home too much.
‘being a hard worker will fundamentally change the course of your teen’s life. It’ll quite likely earn them millions of dollars more for the same number of hours that their whining coworkers put in. And they’ll enjoy their work.’
Mate. This is such bad advice in isolation. Talk about setting your kid up to fail and to view their coworkers as lesser. There’s absolutely no guarantee that they will earn more money for being a hard worker. If they don’t also learn how to navigate workplace politics, it will likely mean they’ll get taken advantage of.
I mean the three recommendations of:
Be on time
Roll up your sleeves and get the job done, even if the boss isn’t around
Say please and thank you, and smile as you do it
Are all good recommendations. They’re also things you probably should have already taught your kid to do BEFORE they started work.
There’s also no guarantee that your kids job won’t be replaced by a robot, just because they work hard??
It’s not true that ‘if they can internalise this lesson you can be sure they’ll never leave any job without a glowing recommendation to take into their next.’
It’s also not true that ‘they’ll enjoy their work a lot more, no matter what they do.’
Then we get to the real jaw-dropper.
At the end of the chapter, in the testimonial, the parents boast that their kid got a job at a crayfish farm, sometimes working shifts that STARTED AT 1AM ON A SCHOOL NIGHT. As if this is a GOOD THING. WHAT. THE. HELL. The kid is IN YEAR 9.
DO I REALLY NEED TO EXPLAIN WHAT IS WRONG WITH THIS PICTURE.
Then we’re into super.
In the super chapter, I fail to understand why the person in the illustration you’re giving your kid needs to be a bully? Why do we need to turn it into a competition to beat someone, instead of teaching the kid to make wise decisions for their own sake and the sake of their future family?
Then we hit the barefoot ladder.
I have such an issue with people who demonise ‘handouts.’
Listen, I’m reasonably successful in my very volatile career. But there have been points in my life where handouts, either from family or from the government, have absolutely kept me alive. (This was well before I could even DREAM of saving three months of living expenses! I was barely earning enough to cover rent; that really does highlight the elitism of a book like this, where so much of its advice is absolutely out of the realm of possibility for so many people simply because they barely survive on their wage).
I absolutely will not be buying my child a car, or a house, or paying for their uni. Especially not in Australia where HECS-HELP is a thing.
When he wraps up a section saying ‘too many whining millennials cry into their $12 seeded kale smoothies’ I nearly threw the book at the wall.
SO. MUCH. FILLER. Could be summed up in maybe 20 pages. Seriously.
Most of the advice is incredibly simplistic but sound; the reasoning ranges from simplistic to downright terrible.
There are so many other books (or blog posts) that give this sound advice without the excessive filler.
I'm talking the start of the chapter has an anecdote, often reminders of what's ben previously mentioned 3-4 times, as well as 'you will learn THIS' in the chapter. The actual learning could be summed up in about half a page.
I mean it comes to writing a paper, you'll often include an executive summary. It's not justified here!
I want to give it one star because I can't stand how awkward and arrogant this guy is, but I'm giving it two because we will probably implement variations of these recommendations within our own family as our children grow.
Where I'm with him:
I like the three jam jars; we'll probably call them something less lame (it very much annoys me that the day to day expenses are called 'splurge.' It's like the man barely has a grasp of the english language; splurging is occasional, not routine.) Something simple like 'Spend, save, give.'
I like the idea of having a regular meal where the focus is (for us) stewardship, financial literacy and wisdom around finances.
I REALLY like the focus on eating dinner together each night, but that was already important to me, and I was already aware of the research supporting this.
LOVE the focus on buying and selling second-hand. (We already do this a lot).
Love the idea of getting your kid to regularly host dinner parties with food they’ve cooked themselves (but more on that later).
I don't even really have any objection to the barefoot ten in isolation.
But the dude should stick to his lane (financial advice) because honestly, I don't even think he's 100% there with his actual expertise, let alone when he talks about other topics. Then he's REALLY off the mark.
Where he loses me:
-His mocking tone when speaking about his wife. ('What an idiot, she reads books on positive childhood psychology and gender-neutral parenting. Don't you know all that matters is having a good handle on money').
-Mocking tone when speaking about people who prioritise sun protection for their children. (Are you kidding me?? We live in the skin cancer capital of the WORLD.)
-His failure to understand the concept of survivorship bias. ('My parents let me play in extremely unsafe environments and I survived therefore it's fine and the subtext is any parent who is cautious is an overprotective idiot').
-The idea that fat is bad and causes cholesterol problems (outdated dietary advice, what are you doing in this book??)
-'As parents, it's ok if we get most things wrong... as long as we get a few big things right.' I get where he's coming from, but no. It's not ok if we get most things wrong?? Yes, you're going to get SOME things wrong. But it's your responsibility as a parent to be informed and to make as many informed, sensitive decisions as well as you can for the sake of your children, not check out because you've got a couple of 'big things right'?! Who decides which big things are the ones to get right? Scott Pape?!? I don't THINK so. Do your best, be informed, be constantly learning is a much better philosophy.
-Referring to children as spoilt entitled brats. Not language I think an author should be propagating.
-The testimonials that are supposed to reassure you that this is a great idea end up reading like you’ve joined a cult.
-For all his denigration of marketing as a profession, his entire book is written in very ‘marketing’ language (and written poorly at that.) I’m talking ‘try this one simple trick to solve all your problems.’
-Good luck finding a zero-fee, high-interest savings account. This is increasingly rare. Good luck even finding one that offers a fixed rate!
-I understand his anger toward commbank, but I liked dollarmites when I was a kid. I have zero recollection of any mention of credit cards (doesn’t mean they weren’t mentioned). Yes, while my first bank account was with commbank, but I didn’t stay with them for very long. I may have been sent mail trying to get me to sign up, but I never received it. What I’m saying is that while his criticism is valid, he fails to acknowledge the fact that it got kids interested in and invested in money because it made money fun.
-Suggesting that a multi-millionaire who only eats a cheese sandwich for lunch is someone to aspire to be (when Pape has previously mentioned earlier that it’s important for kids to ALSO be comfortable with spending, or they will be the miserly person with no friends because they don’t want to shell out on the occasional meal out). I don’t want to be the guy with the four kids ordering separate meals from uber eats but I ALSO don’t want to be the dude with the cheese sandwich. It’s not nutritionally sound, for one! Secondly, eating out is not a ‘waste of money.’ It’s an experience. It supports small businesses. It forces you to take time out of your day to have a break, from either work or home life. It’s an opportunity to try something you wouldn’t normally eat. There are so many wonderful things about eating out. Eating out is not the problem. Doing it all the time, especially when you cannot afford it, is.
-Honey, there is no WAY I am waiting until my child is a TEENAGER to introduce them to food, nutrition, cooking, eating. My child is one year old and we’ve already bought her the safe step ladder for her to be in the kitchen with us while we prepare meals. She’ll be involved from a very young age.
-There’s nothing wrong with talking about the benefit of volunteering, but maybe LEAD with the fact that there are less fortunate people and THEY could use the help, as the primary reason for volunteering??
-Credit cards rewards systems not being as good as they once were isn’t necessarily a reason to stop using the system. For a lot of people, this is a way to significantly reduce the cost of travel, for example, as long as they have the discipline to pay off the card each month and never pay interest.
-I REALLY hate the judgey mentality he advocates for in relation to credit cards. ‘You’re so smart you don’t need one?’ That’s elitist, one-up-man-ship rubbish. Credit cards are not wise as a general rule, but I’m not going to raise children who walk around judging anyone who has one (or appears to have one— it might even just be a debit card).
-While I appreciate the THEATRE of blending the credit card, it’s internally inconsistent. ‘In this family, we don’t do credit cards. But mum and dad DID do a credit card and now we’re blending it.’ I get that you can frame it as ‘we don’t do this ANYMORE’ but I don’t like the concept of lying to your child if you never had one by pretending a gift card was a credit card for the sake of making a point.
Where he really, really loses me… is the part time job and barefoot betty.
Don’t get me wrong, I am ALL for a part time job.
Your kid will learn so much from their first casual role, if they’re paying attention and if you’ve laid good groundwork.
Within this chapter, there’s a lot of good but there’s SO much bad.
Let’s start with the suggestion that a child going to school with the flu and completing an exam was something to be celebrated; an example of ‘overcoming hardship’ to bring up in an interview. Please do not do this, especially in the age of covid. Please do not go to school with the flu, or any illness, believe me your teacher will be HAPPY to reschedule the exam! And if you’ve ever done this, then please do not bring it up in an interview as a GOOD thing!
Then we get to the conflation of a cover letter and resumé. What he’s calling a resumé is a cover letter. (Also, calling it zero to hero? My child is not zero, and a document will not make them a hero).
Oh and ‘by getting a job, your teen will be forced to overwrite the negative stories inside their head with genuine, tangible, positive ones — which will hugely impact the rest of their life.’
I’m sorry, what?? Way to oversell a job, dude. It’s just a part time job. Probably one with a whole heap of toxicity your poor kid will have to navigate. Toxic work environments will be something they’ll probably have to navigate for the rest of their life, I’d rather have a balanced perspective: you’ll learn a whole heap of REALLY VALUABLE life skills. Never underestimate the value of showing up with a good attitude, a smile on your face, and a willingness to do the work. At this point in your career, everyone you’re working with except your manager is basically on the same level, so you don’t need to worry so much about scope creep and responsibilities, as you’re all sharing them together. Your job WILL get tedious; every job does sometimes. You learn to look for the good. And if your boss is abusive, fails to pay you, or encourages bullying, that’s not ok, and there are laws to protect you in the workplace. It’s a good idea to know what they are.
A job is NOT going to overwrite negative stories. It just isn’t. It may contribute to growth in confidence and independence, yes, but there are so many other factors in a teen’s life that influence the stories they tell themselves that the best you can claim is that the job will CONTRIBUTE to the rewriting of their stories, if they have a good experience and a good mindset.
In the next chapter, we get into workplace culture. This is where I was scribbling furiously like my life depended on it.
‘The lessons you teach your teen over the next few weeks could add millions of dollars to their net worth over their lifetime, and make them happier than 70 per cent of the working population.’
DUDE. There is so much wrong here I don’t even know where to start.
There are so many factors involved in a promotion that are far outside how hard you work. In fact, working overtime in some cases can be a reason to keep you in your current role: you’ve taken on more work for less money, why would they pay you more? You’re getting so much done in the role that they’ll never find someone to replace you who will do it all, why would they move you up the ladder?
It certainly isn’t going to make you HAPPIER. Gosh. I hate ‘working makes you happy’ mindset. Can we not just acknowledge that for a lot of people the best we can hope for is a job that doesn’t make you SAD??
I absolutely hate the suggestion that we should be like a working dog that never stops. That is categorically unhealthy, and spectacularly counter to current (and existing!) research.
WE NEED A BREAK. To be GOOD AT OUR JOBS, we need to take breaks. The brain and the body both need the breather. Promoting the 24/7 work mentality is unbelievably dated, and it definitely does not guarantee the success it thinks it does.
I have every respect for families that work extremely hard. I am not anti hard work, as anyone who knows me knows. I’m actually a bit of a workaholic, so when I tell you this lesson is hard won, believe it.
YOU NEED TO STOP. By all means, work hard. But you will be paying big money for health conditions caused by chronic stress if you do not learn how to have some balance in your life.
Different people have different capacities but we ALL need a break. We do NOT need to be Betty the working dog who takes whatever scraps are thrown her way and never, ever stops working.
Work hard at your job, but have healthy boundaries, and rest hard when you’re resting!
He quotes a 2013 Gallup poll that found that more than 70% of Australians are either ambivalent or completely disengaged from their job. Given that he provides this quote immediately after describing the workplace as ‘just another version of… high school classroom: there are people slacking off, gossiping, shirking responsibility, bitching about the boss (the teacher), and blaming everyone (except themselves)’ he is suggesting that people are disengaged solely because of factors inside their control; solely because of their own attitude, with NO acknowledgement of the MULTITUDE of other factors that come into play here! Toxic workplace culture, abusive bosses, unreasonable expectations, scope creep, availability of work, the job market, lack of skills, lack of access to upskilling, biases, quota hires, the list is VERY LONG.
‘How you do any job is how you do every job.’ Well, no. I get what he’s saying, in that it’s about your attitude, but different jobs have different needs and demands of you and depending on your life stage it’s easier or harder to handle that.
‘How to spot the slackers’?? I mean, that’s absolutely not the first thing I want my child to learn from a part time job?
‘Say things like, ‘it’s not my job.’’ While at this point in your working life it’s not relevant to learn to say this because you’re all doing the same job so there’s no such thing as ‘it’s not my job’, it becomes very important later in life to know how to recognise when you’re being taken advantage of and learn how to politely navigate pushing back on that which is NOT your job.
There’s nothing wrong with being known as the kid who gets it done. I do want to teach my kid the value of hard work, but ALSO the value of knowing their worth (at this point in their career, it isn’t very much because they don’t have any skills or experience) and ALSO know when it’s time to push back.
It’s reasonable to encourage your teen to get the reputation for working hard, yes. That’s something to be proud of.
But to connect it to the idea of getting pay rises and promotions is just setting your kid up for failure. Better to teach them that being known for working hard is ONE factor of many in getting promotions, and that promotions should be carefully considered before chasing them or accepting them, especially in retail and hospitality (where a promotion typically includes a massive increase in responsibility with little to no increase in pay).
Sometimes you don’t want to take a promotion, because the increased responsibility will be too much stress at this point in your life, or it will require you to be away from home too much.
‘being a hard worker will fundamentally change the course of your teen’s life. It’ll quite likely earn them millions of dollars more for the same number of hours that their whining coworkers put in. And they’ll enjoy their work.’
Mate. This is such bad advice in isolation. Talk about setting your kid up to fail and to view their coworkers as lesser. There’s absolutely no guarantee that they will earn more money for being a hard worker. If they don’t also learn how to navigate workplace politics, it will likely mean they’ll get taken advantage of.
I mean the three recommendations of:
Be on time
Roll up your sleeves and get the job done, even if the boss isn’t around
Say please and thank you, and smile as you do it
Are all good recommendations. They’re also things you probably should have already taught your kid to do BEFORE they started work.
There’s also no guarantee that your kids job won’t be replaced by a robot, just because they work hard??
It’s not true that ‘if they can internalise this lesson you can be sure they’ll never leave any job without a glowing recommendation to take into their next.’
It’s also not true that ‘they’ll enjoy their work a lot more, no matter what they do.’
Then we get to the real jaw-dropper.
At the end of the chapter, in the testimonial, the parents boast that their kid got a job at a crayfish farm, sometimes working shifts that STARTED AT 1AM ON A SCHOOL NIGHT. As if this is a GOOD THING. WHAT. THE. HELL. The kid is IN YEAR 9.
DO I REALLY NEED TO EXPLAIN WHAT IS WRONG WITH THIS PICTURE.
Then we’re into super.
In the super chapter, I fail to understand why the person in the illustration you’re giving your kid needs to be a bully? Why do we need to turn it into a competition to beat someone, instead of teaching the kid to make wise decisions for their own sake and the sake of their future family?
Then we hit the barefoot ladder.
I have such an issue with people who demonise ‘handouts.’
Listen, I’m reasonably successful in my very volatile career. But there have been points in my life where handouts, either from family or from the government, have absolutely kept me alive. (This was well before I could even DREAM of saving three months of living expenses! I was barely earning enough to cover rent; that really does highlight the elitism of a book like this, where so much of its advice is absolutely out of the realm of possibility for so many people simply because they barely survive on their wage).
I absolutely will not be buying my child a car, or a house, or paying for their uni. Especially not in Australia where HECS-HELP is a thing.
When he wraps up a section saying ‘too many whining millennials cry into their $12 seeded kale smoothies’ I nearly threw the book at the wall.
January 26, 2023
i had to read this because of my mother. and i also usually do not ready non fiction books. i actually dislike them a lot. but this was meh. i took a while to read it but when i did pick it up i flied through it. i also have taken some notes from it i suppose and am using the three jars idea.
January 14, 2019
As a parent with a house full of teenagers with jobs, this book gives great guidance.
March 3, 2019
We started Scott's money meals as I was reading this book and 3 weeks in, my 4 year old asked if he could vacuum the lounge room (one of 3 jobs he chose for the week). I'd say that's a success! I love Scott's family values and his advice has already started to help our two young boys in learning the value of hard work and is setting them up with a positive mindset around being good with money. Every family should read no matter the age of your children.
February 22, 2019
For the parents who want to raise financially savvy kids, but haven't a clue where to start.
Scott lays out a comprehensive but simple plan for teaching your kids how to make smart financial decisions, long after they've left home. He then wraps up with instructions on what to leave to make your death easier on your loved ones.
It is an Aussie based book, but I feel it would translate well into other countries, but you'd have to do the research on bank accounts and super schemes yourself. I'm in New Zealand, so Ruth at thehappysaver has already given some pointers here:
https://www.thehappysaver.com/blog/bo...
I listened to this book on Audible.com.au and was please to hear it narrated by the barefoot man himself. It also came with a PDF so you can see all the bits and pieces he is talking about.
Heartily recommended, and I'm super excited to start implementing it. I hope to acquire a hard copy soon.
***Update: hardcopy acquired and read. Already have someone who wants to borrow it.
Scott lays out a comprehensive but simple plan for teaching your kids how to make smart financial decisions, long after they've left home. He then wraps up with instructions on what to leave to make your death easier on your loved ones.
It is an Aussie based book, but I feel it would translate well into other countries, but you'd have to do the research on bank accounts and super schemes yourself. I'm in New Zealand, so Ruth at thehappysaver has already given some pointers here:
https://www.thehappysaver.com/blog/bo...
I listened to this book on Audible.com.au and was please to hear it narrated by the barefoot man himself. It also came with a PDF so you can see all the bits and pieces he is talking about.
Heartily recommended, and I'm super excited to start implementing it. I hope to acquire a hard copy soon.
***Update: hardcopy acquired and read. Already have someone who wants to borrow it.
September 25, 2018
While this is clearly aimed at people with children living at home, it's once again a simple, commonsense approach to teaching kids about money. It's very easy to read and understand.
I wish this book had been around when I was growing up. I've bought a copy for my sister and sister-in-law - hopefully my niece and nephews will learn all the lessons I wish I had learnt.
#putoutyourjamjars #alpaccaattitude
I wish this book had been around when I was growing up. I've bought a copy for my sister and sister-in-law - hopefully my niece and nephews will learn all the lessons I wish I had learnt.
#putoutyourjamjars #alpaccaattitude
May 1, 2019
One of the best books I've read on teaching your kids to manage money. Some of this is fundamental, but there are some new ideas, too. And what makes it 5 stars is that he provides a specific and easy way to move step by step (the Sunday meal idea).
Note: this is by an Australian author. That means two things: 1) the book is spiced with fun Australian slang; 2) there are sections with advice for Australian's only, like which bank account is best for a kid's first account.
Note: this is by an Australian author. That means two things: 1) the book is spiced with fun Australian slang; 2) there are sections with advice for Australian's only, like which bank account is best for a kid's first account.
December 15, 2018
The most important part of this book is the final chapter “The Fearless Folder”, which basically entails how to and being prepared for your death. I plan to go through this with Kerri in the next month or so, so if the worst happened and we died suddenly. Being prepared so our death would be no worse than it need be on our family.
I would like to do the ‘Barefoot Ten’ as a family. Maybe the new year will be as good a time as any to start. Reading Pape’s previous work gave us confidence that we were already doing the right things financially. It is still an exceptionally easy read, written for the lay person, and assumes you are not good with numbers. The advice is solid, unexciting, reflecting conservative values of hard work and prudence. The importance of family meals at the dinner table, with no devices present is the basis of the ‘Barefoot Ten’. As a family I think we are already doing well, but this could be a catalyst for doing better.
I would recommend it to all families, but recommend reading his first book first so you can address you own finances (get you own house in order first).
I would like to do the ‘Barefoot Ten’ as a family. Maybe the new year will be as good a time as any to start. Reading Pape’s previous work gave us confidence that we were already doing the right things financially. It is still an exceptionally easy read, written for the lay person, and assumes you are not good with numbers. The advice is solid, unexciting, reflecting conservative values of hard work and prudence. The importance of family meals at the dinner table, with no devices present is the basis of the ‘Barefoot Ten’. As a family I think we are already doing well, but this could be a catalyst for doing better.
I would recommend it to all families, but recommend reading his first book first so you can address you own finances (get you own house in order first).
December 15, 2018
The most important part of this book is the final chapter “The Fearless Folder”, which basically entails how to and being prepared for your death. I plan to go through this with Kerri in the next month or so, so if the worst happened and we died suddenly. Being prepared so our death would be no worse than it need be on our family.
I would like to do the ‘Barefoot Ten’ as a family. Maybe the new year will be as good a time as any to start. Reading Pape’s previous work gave us confidence that we were already doing the right things financially. It is still an exceptionally easy read, written for the lay person, and assumes you are not good with numbers. The advice is solid, unexciting, reflecting conservative values of hard work and prudence. The importance of family meals at the dinner table, with no devices present is the basis of the ‘Barefoot Ten’. As a family I think we are already doing well, but this could be a catalyst for doing better.
I would recommend it to all families, but recommend reading his first book first so you can address you own finances (get you own house in order first).
I would like to do the ‘Barefoot Ten’ as a family. Maybe the new year will be as good a time as any to start. Reading Pape’s previous work gave us confidence that we were already doing the right things financially. It is still an exceptionally easy read, written for the lay person, and assumes you are not good with numbers. The advice is solid, unexciting, reflecting conservative values of hard work and prudence. The importance of family meals at the dinner table, with no devices present is the basis of the ‘Barefoot Ten’. As a family I think we are already doing well, but this could be a catalyst for doing better.
I would recommend it to all families, but recommend reading his first book first so you can address you own finances (get you own house in order first).
July 12, 2021
Not gonna lie, there were a few dry sections, but let's face it. In a book about finances, having only a few dry sections is really an achievement. I have a 13 year old and have definitely thought about what life will be like in 5 years when she's 18 and out on her own. This book provides an easy and well researched step-by-step guide that you can work through with your kids aged 3 to 20. It breaks down how to teach kids about money without worrying them, how to save money without being stingey, and how to become wealthy without becoming a brat. I really appreciated the holistic approach of building in family time to a weekly routine, celebrating wins, challenging teens to learn about real world finances in competitive ways, the practical aspects of writing a good resume, taking advantage of compound interest and making sure you have a will so know your family doesn't have to worry once you're gone.
I felt this was a very down to earth, easy and entertaining read that had simple steps that made financial wellbeing sound possible. I will definitely buy this for other family members with kids and will work through each step with my little family too.
I felt this was a very down to earth, easy and entertaining read that had simple steps that made financial wellbeing sound possible. I will definitely buy this for other family members with kids and will work through each step with my little family too.
September 2, 2021
In summary, there is very good content, but with a lot of drawbacks. Firstly let me say that my family is not the ideal audience for this, and that's not his fault. Our children are already older teenagers, and we're reasonably good with finances already.
Although there was still some good stuff to learn from the book, stretching this out to 5.5 hours (audio edition) is unnecessary; 2 hours would have been plenty. [The good bits are spread out, so you can't 'cheat' and just jump to the gems].
Some of the material has not aged well, even though it was released quite recently (2018). In particular, he keeps going on about "High Interest Savings accounts", which nowadays are barely better than putting the money under your mattress.
But, if you have a young family and aren't too sure about your finances, this is a very good place to start. Just be ready for a marathon session of listening.
Although there was still some good stuff to learn from the book, stretching this out to 5.5 hours (audio edition) is unnecessary; 2 hours would have been plenty. [The good bits are spread out, so you can't 'cheat' and just jump to the gems].
Some of the material has not aged well, even though it was released quite recently (2018). In particular, he keeps going on about "High Interest Savings accounts", which nowadays are barely better than putting the money under your mattress.
But, if you have a young family and aren't too sure about your finances, this is a very good place to start. Just be ready for a marathon session of listening.
March 25, 2019
After having read the first 2 editions of the main Barefoot Investor, as well as reading the weekly newspaper articles there was little new in this. The barefoot date-night approach introduced in the 2nd edition of BI translated across to family dinners. The content is OK - I don't agree with all of it (for example I believe that credit cards can be a good tool when used appropriately and within considered limits)... and much of the advice is too late for our family to use.
If you are starting with finance for families this would be a great introduction, but for me this is a repackaging with minimal additional content. I'd rate the book much higher if I hadn't consumed so much of his other work...
If you are starting with finance for families this would be a great introduction, but for me this is a repackaging with minimal additional content. I'd rate the book much higher if I hadn't consumed so much of his other work...
September 5, 2021
This book is intentionally designed for Australian families, but there are still takeaway tips that we can learn from it.
No wonder why white people, even some are a bit dumb, but they are indeed more matured. I am really impressed by the way he taught his kids.
- The 3 jars things, Spend - Savings - Give, should be the first thing kids learn. Make it visible.
- Work hard.
- Join a local community and volunteer
- Walk-in and do at Macca's at the age of 15 can teach you numerous of things (from documents, to dealing with people)
- So on and so forth.
Financial literacy should be something that must be taught in the early stage. And this book is all about it. Dealing with money teaches so so so many things.
No wonder why white people, even some are a bit dumb, but they are indeed more matured. I am really impressed by the way he taught his kids.
- The 3 jars things, Spend - Savings - Give, should be the first thing kids learn. Make it visible.
- Work hard.
- Join a local community and volunteer
- Walk-in and do at Macca's at the age of 15 can teach you numerous of things (from documents, to dealing with people)
- So on and so forth.
Financial literacy should be something that must be taught in the early stage. And this book is all about it. Dealing with money teaches so so so many things.
May 4, 2023
WHAT A GREAT BOOK. It comes with the hook of promising Your kids a better understanding of money, BUT in reality it is a holistic book about strong family ties and having a culture of integrity at home. No “spoiled entitled brats” as the author would say :) Not only are all the concepts very good, but the book is full of good ol’ humor, mostly making fun about his own past. I am adding it to calendar 2024 for my wife to read. Why not now? Because I’d very much like to get reminded about all the concepts in a year. I really wish there would be more books like this - and I wish this book to spread as much as possible. Nice job, Scott! Keep it up, blend those credit cards, baby! The world needs more authors like You - so things would deteriorate a bit more slowly :)
January 10, 2025
MY HANDS ARE CRIPPLED AND ARE EXTREMELY PAINFUL SO I CAN ONLY TYPE IN ALL CAPITALS.
I CAME ACROSS THIS BOOK WHILE ON HOLIDAY AT AN AIR B'N'B.
AS AN ACCOUNTANT/ECONOMIST I RARELY RECOMMEND BOOKS ABOUT PERSONAL FINANCES AND INVESTING, BECAUSE MANY OF THEM ARE AMERICAN AND ARE NOT EASILY APPLIED IN AUSTRALIA. I HATE "RICH DAD, POOR DAD" AND THE SELF-DEVELOPMENT PROGRAMS SUCH AS "MONEY AND YOU" WHICH GREW OUT OF IT.
SCOTT PAGE IS AN AUSSIE, AND WITH ITS SISTER BOOK "THE BAREFOOT INVESTOR" I RECOMMEND BOTH TO THE AUSSIE READER. I BOUGHT COPIES FOR MY ADULT CHILDREN.
I DOUBT IT WOULD APPEAL TO MANY AMERICANS BECAUSE IT DOES NOT USE "SNAKE OIL SLICKNESS" TO PROMISE YOU THE WORLD, WITH THE CAVEAT THAT IF IT DIDN'T WORK FOR YOU, YOU DIDN'T STRICTLY FOLLOW THE PROGRAM.
I CAME ACROSS THIS BOOK WHILE ON HOLIDAY AT AN AIR B'N'B.
AS AN ACCOUNTANT/ECONOMIST I RARELY RECOMMEND BOOKS ABOUT PERSONAL FINANCES AND INVESTING, BECAUSE MANY OF THEM ARE AMERICAN AND ARE NOT EASILY APPLIED IN AUSTRALIA. I HATE "RICH DAD, POOR DAD" AND THE SELF-DEVELOPMENT PROGRAMS SUCH AS "MONEY AND YOU" WHICH GREW OUT OF IT.
SCOTT PAGE IS AN AUSSIE, AND WITH ITS SISTER BOOK "THE BAREFOOT INVESTOR" I RECOMMEND BOTH TO THE AUSSIE READER. I BOUGHT COPIES FOR MY ADULT CHILDREN.
I DOUBT IT WOULD APPEAL TO MANY AMERICANS BECAUSE IT DOES NOT USE "SNAKE OIL SLICKNESS" TO PROMISE YOU THE WORLD, WITH THE CAVEAT THAT IF IT DIDN'T WORK FOR YOU, YOU DIDN'T STRICTLY FOLLOW THE PROGRAM.
May 28, 2019
So often the whole world of finances can seem impenetrable and scary (even to adults) but Scott Pape breaks it down so simply and compellingly and I'm so glad I read this book. We have had our first money meal and the kids were pumped to write down what they were saving for (so far - a computer, a skateboard and a phone) and they couldn't wait to get started on their jobs. This is going to be one we will return to again and again, and I now feel empowered to believe that that our kids will all be financially savvy, with savings, a solid superannuation plan and a start on a deposit for their first home by the time they leave home. Definitely recommended.
February 19, 2020
Wish my parents had read this!
After reading his first book and being a fan, I knew I wanted to read the family guide and follow his approach once I would have kids. My daughter is still three months old and while it's very early to implement anything, i want to keep his mindset and flip through the chapters again as she grows up.
This is a must read for all parents in Australia (he tells you exactly what banks to go with / super to invest in) but there is so much good general advice on how to make your kids (and you) be more conscious about money.
He's calling out the big4 banks and trying to change the way finance is taught in schools. True Aussie hero!!
After reading his first book and being a fan, I knew I wanted to read the family guide and follow his approach once I would have kids. My daughter is still three months old and while it's very early to implement anything, i want to keep his mindset and flip through the chapters again as she grows up.
This is a must read for all parents in Australia (he tells you exactly what banks to go with / super to invest in) but there is so much good general advice on how to make your kids (and you) be more conscious about money.
He's calling out the big4 banks and trying to change the way finance is taught in schools. True Aussie hero!!
January 20, 2019
Another Scott Pape money guide that I could not put down. It's a no nonsense guide to helping your kids becoming financially savvy adults. My kids are only 2 and 3 months, so I won't be able to carry out most of his advice for a couple of years yet but that's OK because this book has made a lasting impression on me. I vow that when my kids get to each critical financial stage of their lives, i.e. 7-14 and 15 onwards that I will put in place these principles and set them up for life. No handouts necessary. 😊 Everyone with kids should read this. 5/5
June 23, 2019
A superb guide to building fiscal awareness and responsibility for your whole family. The lessons learned from Pape’s second book have the potential to change your children’s lives for the better AND encourage hard work and good character. What’s not to love!
My three year old has already got his three jam jars - it’s such a great lesson in saving and also being generous with money. And it’s a lesson I hope he takes with him long after he flies the best.
Pape’s book should be adopted by schools and made mandatory reading all over Australia. He’s doing our children a great service.
My three year old has already got his three jam jars - it’s such a great lesson in saving and also being generous with money. And it’s a lesson I hope he takes with him long after he flies the best.
Pape’s book should be adopted by schools and made mandatory reading all over Australia. He’s doing our children a great service.
July 29, 2019
Barefoot Investor for Families
I certainly highly recommend this book as a must read even if you have not read Scott’s first book. It is a simple read that has a wonderful way of instilling confidence into the parent to take hold of your children’s financial future. All while presenting with a modern Australian humour and common sense.
I am so glad I have read this before my children have even started school. I am confident that I will be referring back to this as we go through the stages of life leading up to their final departure.
I certainly highly recommend this book as a must read even if you have not read Scott’s first book. It is a simple read that has a wonderful way of instilling confidence into the parent to take hold of your children’s financial future. All while presenting with a modern Australian humour and common sense.
I am so glad I have read this before my children have even started school. I am confident that I will be referring back to this as we go through the stages of life leading up to their final departure.
October 8, 2020
If you've got kids and haven't read Scott Pape's first book: The Barefoot Investor - S.T.O.P! Go get yourself a copy and ready it! Then, once you've done that, follow that up by reading this book! A great, easy to follow and digest finance book for families. It's aimed at parents (guardians, grandparents etc) but outlines a plan to get the whole family together to create memories while also setting your kids up with the best possible financial start in life. You'll wish someone had told you about this book when you were a teenager!
October 23, 2021
(Audiobook) I really loved this book for the fact that I didn't develop financially literate skills until much later in life (in my 40's) and because I did a financial course that The Benevolent Society offered (because I was a low income owner). It wasn't something that school never offered. I do not want my son to be in the same boat as me, not achieving much financially. Even though he is a child and not a teenager yet, there is no harm in starting to teach him financial literacy skills early.
July 12, 2023
In summary:
How to deploy Personal finance education to your kids for them to grow into responsible, value adding adults.
I like the author and how he approaches personal finances, subscribed to his newsletter too.
I’d recommend though to start with his first book: the barefoot investor, get your finances together and then teach your kids.
Full of anecdotal examples combined with some research, this book offers very practical advices on how to teach kids the value of money so they know how to deal with money when they grow up.
How to deploy Personal finance education to your kids for them to grow into responsible, value adding adults.
I like the author and how he approaches personal finances, subscribed to his newsletter too.
I’d recommend though to start with his first book: the barefoot investor, get your finances together and then teach your kids.
Full of anecdotal examples combined with some research, this book offers very practical advices on how to teach kids the value of money so they know how to deal with money when they grow up.
April 12, 2024
A well written step by step book to help parents guide their children into financial security. It is a way to make something a bit boring come to life. Allowing children visuals such as the jam jars with their money in it helps them see it grow. The alternatives for older children as well including opening accounts instead of jars. I feel from watching this I have a much better understanding of how to help my kids. Though I still need to get my head around the investing side as I am not comfortable in that area. A seriously easy book to follow.
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