{Site currently under construction. Grace for my mess?}

Thursday, August 9, 2012

Book Review: Raising Financially Confident Kids by Mary Hunt

Because of how crazy busy I've been these days, I'm actively pulling back from doing many book reviews. I couldn't turn down the option to review this one though, since the topic at hand is one I'm eager to have resources for. I have always told my kids that whatever they choose to do in life, I have two major hopes for them. One is that they love and follow the Lord first and foremost. The second is that they would not get caught up in being enslaved to anyone or anything (drugs, alcohol, bad relationships, or debt).

Growing up, money was such a stressor for my family that I learned very little about it other than this: It takes a lot of it to live and there's never enough. I didn't receive any training on handling money or managing my financial life, and when I was old enough to begin teaching myself these concepts, much of the damage had already been done. As a result, I learned everything I know now about managing money through the old trial and error (and error, and error, and error) method, and what has resulted is, sadly, a serious financial ruin for my family that has resulted in so much stress and pain. I have resolved to give my kids more tools than I had in hopes that they won't make the same bad money decisions that I have, so that they can be free to live a generous life and have peace about handling money.

Raising Financially Confident Kids is a book that introduces a "salary" system for children, in which their income and financial responsibilities are increased as they get older. It is designed to teach kids to manage money through personal experience and allow them to make mistakes and understand the way money works before they are capable of getting into serious trouble. By the time children are crossing over into adulthood, by this system, they are handling all of their own financial business and ready to take on the real world. I absolutely love the plan and will definitely be implementing it with my own family.

I highly recommend this quick read and the family financial management system which it proposes. It is not a complex or terribly detailed system (great for people like me who don't have the focus to implement anything with too many variables) and it relies much on personal experience, something I think is a great teacher for children.

“Available August 2012 at your favorite bookseller from Revell, a division of Baker Publishing Group.” I received this book for free in exchange for a review. All opinions are my own. 

1 comment:

Your comments are such an encouragement. Thank you for sharing your valuable words.