I heard Mary Hunt on the radio years ago, it was the first time I heart someone talk about how to teach our children to manage finances well, from an early age. I loved her philosophy. For years, I have been planning to start using her principles. And lo and behold, she has recently written the book Raising Financially Confident Kids, which lays out her plan in more detail than I heard years ago.
What is the main plan? Well, you start allowing your children to manage the money you would spend on them. For instance, they start out managing money you would spend on them maybe recreationally. Eventually, they are managing their school clothes, hobbies, social events, etc.
Mary Hunt addresses more than just the points of this plan, however. In this book, Hunt makes you aware just how much the credit card companies have our children in their sights. They will go to any length to pull our children into a life of debt, therefore it is our job as parents to educate our children so they are aware of how it happens and how to avoid it.
I loved this book, I read it once so far, plan to have Robert read it, and then I hope to read it again. I think as we implement this plan, starting in January, I will have Jacob read certain chapters as we start to make him aware of all that is going on around him.
There are so many chapters that are purely educational. This is a great book to read with your young adult so that maybe they will hear it from someone other than mom or dad.
I highly recommend this book, not only has this book helped equip me to lead my children, it has inspired me to get back on a better path of financial planning for myself too. I have been refocused on making the right choices so my kids see that it is possible to do what this book says, and not only that, but it is the right choice!
NOTE : I received a copy of Raising Financially Confident Kids at no cost in exchange for an honest review, by Revell publishers.