Your Kids, Their Money gives you the tools to teach your children about the one area many parents never talk about - money.
Drawing on his master's in business administration (MBA), finance experience, and practices with his own children, Clifton Corbin provides a guide for the modern parent. In this book you will learn how to educate your children on the basics of money management such as allowances and first jobs, borrowing, credit, and investing, in ways that make sense to parents and appeal to kids.
Clifton's innovative approach starts by identifying teachable moments during everyday activities. You will see how
Involve your children in the family's finances, Explain where money comes from, Teach why it's essential to invest, manage debt and donate, Gain tools to explain why sometimes you just can't afford some things,And so much more.Throughout the book, you and your kids can participate in activities and games to engage further with financial literacy and build greater confidence.
Your Kids, Their Money is the clear and simple guide you need to help teach financial literacy to your children. Applicable for kids of all ages, this guide is an investment you will want to make in building a solid foundation for your children’s future.
This is a book written to help parents teach their kids about money. And it 100% hits the mark.
What I loved about the style is that the author speaks to parents as a parent. Not as someone who knows it all but has been there, done that, and learned. The book is divided into various sections with practical activities at the end. Those are what make this book special. It is easy to tell someone what they should do, but it can be hard to implement. These activities are a guideline for discussing financial literacy with our kids.
Right from the start, I can relate to Clifton as he shares the pitfalls of his first credit card. And much like him, I don’t want my kids to fall into that same trap. Digging yourself out of debt is much harder than learning about what to do to stay out of debt in the first place.
But it isn’t just about debt. The book outlines money concepts – piggy jars (not banks – clear so you can see the money), allowance (not for chores!), interest, and much more. It isn’t a budgeting book. It is a financial literacy book.
Finally, I appreciate how he reminds parents to take it at their kid’s pace. Some kids will be able to identify money denominations faster than others, some kids will really get into investing, the point is all kids are different and this book is only a guideline.