Smart Money, Smart Kids by Dave Ramsey and Rachel Cruze Review
As parents, we want the best for our children. We work hard to ensure that our kids will have the tools that they need to succeed. The ultimate goal is to give our kids every opportunity possible so they will not have to work as hard as we did. However, is that the true lesson we want to teach? Smart Money, Smart Kids by Dave Ramsey, and his daughter, Rachel Cruze, show the reader how teaching you children to earn money and stay out debt from day 1 are two of the most valuable tools you can give your kids.
We have all seen it; that kid in the grocery store throwing a tantrum because he or she can’t have the gummy bears or toy that they want. Mom and dad are so embarrassed and desperately want their child to be quiet so they give in. Where does this sense of entitlement come from? In Smart Money, Smart Kids, Ramsey and Cruze address the root of the problem for self-entitlement in kids: the parent. I am guilty of this. I have found myself picking up my kid’s toys because it is faster and easier for me to do so than to argue and coax my 6 year old and 18 month old to do it. Even as a child, my mother did things for me because she didn’t want me to worry about work and to focus on my studies. However, how does the parent ever hope to teach the value of a job well done if they do not allow the child to “work”?
Ramsey and Cruze provide numerous examples of valuable lessons to help aid you in a practical approach in teaching your kids the value of working. They give numerous examples of age appropriate chores for your kids. Moreover, the Ramseys also teach us why it is valuable to teach your kids the importance of giving. A child who learns to appreciate the feeling of accomplishing a “job” learns a good work ethic. The Ramsey’s tell their own personal stories of their journey to become debt free. Rachel, Dave’s daughter, explains that since she was very young during most of her parent’s bankrupt years, she learned from the very beginning how to avoid the pitfalls of accumulating debt and living beyond your means. In addition to the personal stories, they provide several, practical examples on how to save money for college and teaching your children the cash envelope system form an early age.
One of the most valuable gifts your can give your child is to teach them to never go into debt. Smart Money, Smart Kids is a wonderful book for parents. Being a parent is hard work. But that hard work is worth it when the result is confident, independent kids who grow up to be kind, successful, financially responsible adults.