Beth Kobliner is the author of the bestselling US personal finance bible Get a Financial Life. Make Your Kid a Money Genius is a new, must-have guide showing parents how to teach their children (from toddlers to young adults) to manage money in a much smarter way.
This book is a easy to understand, step-by-step guide to help parents, of all income levels, teach their children from age three to twenty-three, all about money. It turns out the key to raising a money genius is not to teach that four quarters equal a dollar or how to pick shares. Instead, it’s about instilling values that have been proven to make people successful—not just financially, but in life: delaying gratification, working hard, living within your means, getting a good education, and acting generously toward others.
More specifically, you’ll learn why pocket money or an allowance isn’t the Holy Grail when teaching your child to handle money, and why after-school jobs aren’t always the answer either.
You’ll discover the right age to give your child a credit card, and learn why doling out a wad of cash can actually be a good parenting move!