I recently read Smart Money Smart Kids the latest book written by Dave Ramsey and his daughter, Rachel Cruze.

It seems like a good resource on how to teach kids about money and finances. Each topic and chapter includes entries from both Dave and Rachel on each topic. There are ideas for certain age groups on each topic such as under six years old, 6 to 13 years old and older kids.

Dave Ramsey became a millionaire in the 1980s in real estate and lost it all. Rachel was born about the time they were filing bankruptcy so she tells stories of how it felt growing up as they were rebuilding their financial life.

A big part of teaching kids about finances is for parents to understand and follow the steps also. They mention the phrase “more is caught than taught” several times in the book. Along with actually teaching your kids about money they will also see how you handle your own finances.

If you are stressed about bills all the time and living paycheck to paycheck, they will likely grow up to be the same way.

Topics covered in the book are Work: It’s Not a four-letter word, Spending, Saving, Giving, Budgeting, Debt: It is a four-letter word, Saving for college and Contentment.

One of the most important chapters I felt was the one on contentment. Many people get into debt because they are always looking for the newest and best items. It seems like as soon as you buy something, they come out with a newer model and you feel like you need to upgrade. Also, your friends may have nicer homes, cars, clothes and other items but you don’t know what kind of debt they may be in.

It was a quick read and full of helpful information.

Nancy Kvamme

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