The No-Cash Allowance: A Practical Guide for Teaching Your Children How to Manage Money (Mom's Choice Award Recipient) [Paperback]

Lynne L. Finch (Author)

Book Description

The No-Cash Allowance provides a real-life, hands-on financial experience that kids will not get in school. Lynne Finch, award-winning writer and author, gives parents an easy-to-use method for kids to develop money management skills. She shows parents how to help kids learn to make financial choices that will help them become financially independent when they become adults.

In today's economic climate with financial bailouts and stimulus plans, it is even more important for our kids to grow up to be financially independent as adults. Kids who learn to manage money will be able to survive in an uncertain financial future. Parents who help their kids learn financial literacy and competency through hand's-on practice at home will not need to bailout their kids when they become adults, thus protecting the parent s own savings and retirement funds. Charts, tables and illustrations show how children can track all their money in their account initially kept in the home with parents acting as bankers. Children from pre-school through high school can practice concepts of debit cards, ATMs, electronic transfers and credit transactions using their own money. Examples of dialogue between parent and child create a picture of real-life situations.

Editorial Reviews

Review

The No-Cash Allowance is a recipient of the prestigious Mom's Choice Award. The Mom's Choice Awards honors excellence in family-friendly media, products and services. An esteemed panel of judges includes education, media and other experts as well as parents, children, librarians, performing artists, producers, medical and business professionals, authors, scientists and others. A sampling of the panel members includes: Dr. Twila C. Liggett, Ten-time Emmy-winner, professor and founder of Reading Rainbow; Julie Aigner-Clark, Creator of Baby Einstein and The Safe Side Project; Jodee Blanco, New York Times Best-Selling Author; LeAnn Thieman, Motivational speaker and coauthor of seven Chicken Soup For The Soul books; Tara Paterson, Certified Parent Coach, and founder of the Mom's Choice Awards. Parents and educators look for the Mom's Choice Awards seal in selecting quality materials and products for children and families. This book has been honored by this distinguished award. --Mom's Choice Awards

From the Publisher

The book is the winner of the prestigious 2005 Mom’s Choice Award™ in the parenting category. Finch deals with the subject in a realistic and contemporary way by creating an excellent system that helps children develop skills of managing money day-to-day while learning to make responsible spending choices.

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Product Details

• Paperback: 120 pages
• Publisher: Walnut Row (July 20, 2004)
• Language: English
• ISBN-10: 0974685607
• ISBN-13: 978-0974685601
• Product Dimensions: 8.4 x 5.5 x 0.4 inches
• Shipping Weight: 5.6 ounces (View shipping rates and policies)
• Average Customer Review: 4.3 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #1,586,413 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

6 of 7 people found the following review helpful:

5.0 out of 5 stars Heart to heart talk, April 28, 2005

By 

Bug Candy "Eric" (Dallastown, PA) - See all my reviews

This review is from: The No-Cash Allowance: A Practical Guide for Teaching Your Children How to Manage Money (Mom's Choice Award Recipient) (Paperback)

My wife and I heard about this book from a friend and being new parents of a 4 month old, we figured was never too early to start thinking about how to handle money with our daughter so we bought a copy. I didn't know what to expect but I'm so glad we made the purchase...

Aside from the truly unique system that Finch has put in place (starting for kids at age 3!!), there is a chapter early on in the guide that asks a series of questions about how we, as parents, view money, grew up with (or without money), how OUR parents handled money, what our perceptions were about money as kids and now as adults, etc. The author has a fantastic list/series of questions in this chapter and my wife and I sat down one Sunday morning and started to go through each one - taking turns answering.

Believe it or not, after being my wife's best friend for over 15 years, there were some things I didn't know about her when it came to money, mostly regarding to how she was raised by her parents and their attitudes towards it. And visa versa. We ended up having a 2 hour conversation about our childhood, finances, expecations and dreams for our family and daughter. This chapter alone, based on the ground my wife and I covered during that conversation, is worth 100X what I paid for this book.

I went out and bought a second copy for my brother and sister in law...they have three kids and I know other parents will benefit from both the content and conversations this book will spur with their spouse or partner. We highly recommend this book.

3 of 4 people found the following review helpful:

3.0 out of 5 stars A Neat Plan - Borrow before you Buy, April 15, 2007

By 

Fun Life - See all my reviews

This review is from: The No-Cash Allowance: A Practical Guide for Teaching Your Children How to Manage Money (Mom's Choice Award Recipient) (Paperback)

This book explains one family's approach to teaching their children to understand money.

I believe this book offeres interesting ideas on how you might best develop the ability to manage money in your own children.

The book provided me with some ideas on how I could develop a program that parents could use to not only teach their children to understand the game of finances but how to teach children that income is directly related to providing one or more services to others (like earning an A in a course or doing a good job on the lawn).

I borrowed this book from the library and decided to jot down some notes and return it. My advice is that you consider doing the same. If you think, after reading it, that it is something you need as a reference as you go through the years of raising your child then buy it for your reference shelf.

2 of 3 people found the following review helpful:

5.0 out of 5 stars Great for parents, December 29, 2006

By 

Carolyn Dargevics (Neenah, WI) - See all my reviews

This review is from: The No-Cash Allowance: A Practical Guide for Teaching Your Children How to Manage Money (Mom's Choice Award Recipient) (Paperback)

I met Lynne Finch at a women's leadership expo. When she told me about her book with is history and philosophy, I had to learn more. This wasn't a concept I had thought about. I'm a Baby Boomer so I grew up with the use of dollars and coins, which evolved into writing checks and then using credit cards. As with today's children not knowing what a vinyl record is, after I spoke with Lynne, I realized that my grandchildren would have no way of understanding the use of cash when their parents have direct deposit, write checks, and swipe debit and credit cards.

I asked Lynne if her book would be appropriate for my two grandchildren who are 20 months and 4 months old. She assured me that it's never to early to learn the concept and then apply it as the children become ready. I ordered three books from her: one for my son's family, one for my daughter's family, and one for me.

We are all very pleased with the information in this book. Handling money is a complicated process but Lynne presents it in easy-to-understand concepts complete with charts, diagrams, and illustrations. She developed it and lived it as her children grew. This is how she taught her children the concept of money, going through the trials and errors of experimentation with a totally new approach. And now since the children are adults and manage their finances very well, she is witness to its value in helping other parents.

Both my children are learning about money in a totally new way and are putting Lynne's concepts into practice, preparing themselves to teach their children how to manage finances in a no-cash society.

I urge you to read this book and get a new perspective on managing money.