My new book is due out from Simon & Schuster in February 2017! It’s a guide for parents that provides the “financial facts of life” for every stage of your kids’ lives—from preschool through the post-college years. Available for pre-order today (Amazon, Barnes & Noble, or Indiebound).
What if I told you that allowance doesn’t matter, waiting in line at the playground can make your kid a lifelong saver, paying for grades backfires, and the college cost conversation has to start right after middle school (that’s right, you heard me!)?
Oh, and your child’s money habits all come down to you, since the number one influence on kids’ financial behaviors is dear old mom and dad.
Before you ditch this page to check Facebook, avoiding the money talk yet again, hear me out.
We’re game to tackle almost everything else with our kids! Sex and smoking? No problem. Drugs and drinking? Check.
But, somehow, money is different.
Many of us don’t broach the topic because we think we don’t know enough. Others of us feel so mortified by our own finances that it seems laughable to pass on advice to our children.
We ignore, deflect, pretend, and avoid. We lie. (“Sorry, honey, I don’t have any money with me to buy you that.”) We worry. (“College tuition costs WHAT?!?!”) We procrastinate. (“I’ll open a 529 account next year, for sure.”) And we put our heads in the sand. (“Holiday gifts for the kids? I’ll put them on my Visa!”)
But our kids aren’t fooled. Research shows that preschoolers can understand basic money concepts like spending and saving, and a study from Cambridge University confirmed that kids’ money habits are formed by age seven.
That’s why I’m writing Make Your Kid a Money Genius (Even If You’re Not), a jargon-free, step-by-step guide to help parents of all income levels teach their kids about money. The good news? You don’t have to be a CPA to give your kids the habits and values that will make them true money geniuses.
I know parents are hungry for this information. At PTA meetings and dinner parties, I field more questions than a White House press secretary. On my blog and on social media, I get still more anxious queries—from busy dual-income families, single parents, and Get a Financial Life readers who now have kids of their own (those are some of my favorites!).
Some questions that I’ll answer in the book: