Ramsey and Cruze, his daughter, advocate for the early establishment of family financial traditions. They offer tips to help small children understand the concept of delayed reward and promote the mantra that work “is NOT a four-letter word.” Their book shows parents how to teach children about money using family chores, consistency and responsibility.
Ramsey and Cruze recommend that older children start a business by first brainstorming ideas and then making a plan of action. The book covers spending and saving wisely.
Cruze includes first-person accounts of how she learned to manage her money, start a business while in high school, and how she finished college without huge debt. In fact, debt is a hot topic for Ramsey, a nationally recognized financial guru. Ramsey and Cruze warn college kids about credit cards and student debt without realizing the burden.
They discuss the best way to fund a college education. They talk about 529 savings accounts and education savings accounts. They discuss choosing a college and major, getting scholarships, and working while going to school.
What I liked about this book: It offers great advice for parents and families who want to establish good financial habits for their children early on, and then help them make good financial decisions as they grow older. teenage years and go off to college. At the back of the book is an overview of the student budget to help college students keep their expenses under control.
Julia Anderson is the author of “Smart Women Smart Money Smart Life: Take Charge Now to Have the Life You Deserve”. She hosts Smart Money, a public television show on YouTube, and is the former business editor of The Columbian.