27 of 27 people found the following review helpful:
5.0 out of 5 stars
Practical and helpful approaches to teaching healthy approaches to money and finances, August 16, 2005
Just as money issues become a source of heartache and conflict within marriages, it often becomes a wedge between parents and their children. Kids who grow up with highly charged attitudes towards money often have a hard time in managing their finances with larger goals in mind. Chaotic finances are too often a contributor to chaos and pain in personal lives, as well.
Eileen and Jon Gallo stress being an intelligent parent first. Communication, appropriate teaching, example, and trust are the basis of a sound parent-child bond. In this book, they stress teaching healthy attitudes and approaches to personal finance because too many lives get sidetracked when money is handled poorly.
Rather than providing a book of tips on building a financial empire or guiding your children into careers on Wall Street, this book is about everyday lives. It is for parents with children of any age, including adult children. And, especially, the authors stress that it is never too late to being. You will be better off starting now on improvement rather than regretting that you had not begun earlier and then letting tomorrow continue down the same painful road.
The book is built around eight sound and helpful steps:
1. Encourage a work ethic
2. Get your money stories straight
3. Facilitate financial reflection
4. Become a charitable family
5. Teach financial literacy
6. Be aware of the values you model
7. Moderate your extreme money tendencies
8. Talk about the tough topics
I especially like they way each of these principles is handled. Not only do the authors discuss each principle, they also provide help in approaches to understanding your own example and how to create teaching opportunities with your child. It is a very practical book. It also has a very supportive tone that focuses on lifting everyone involved in these exercises in improvement.
Money is a part of everyone's life and ignoring it will not make it go away but will almost certainly make circumstances worse. Bad news collects interest over time and becomes an ever larger problem that will eventually have to be solved. Better to start on the right path and keep things in a healthy mode with a positive perspective.
This book can be a real help.
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5 of 5 people found the following review helpful:
5.0 out of 5 stars
Highly reccomend for all parents! EXCELLENT!, October 25, 2005
Most of my family & friends fly by the seat of their pants financially with their children. This book reminds and clearly teaches strategies (at any incomne level) to raise children to be financially responsible, generous, and moral. It even touches on paying for chores, grades & when should you start allowance!!
It's a must have book! Great gift idea too. Remember the phrase "failing to plan, is planning to fail". You'll love this book!
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5 of 6 people found the following review helpful:
4.0 out of 5 stars
A must read for new parents, October 28, 2005
I just finished reading this book and loved it! The concepts presented in this book really helped me figure out how to integrate the concepts of financial success with raising my child. I can't imagine a better gift to give my daughter than helping her to be financially responsible. Imagine how different the world would be if everybody read this and encouraged this behavior their children! Exactly the kind of inspiration I needed with a new child.
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