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Customer Reviews for Thomas Nelson The MoneySmart Family System: Teaching Financial Independence to Children of Every Age - eBook

Thomas Nelson The MoneySmart Family System: Teaching Financial Independence to Children of Every Age - eBook

One of the best ways you can prepare your children for life is to teach them financial independence. If parents want to raise kids who are happy, productive adults, teaching them to manage time, money, and goals is critical. The MoneySmart Family System gives parents tools, tips, and methods to help their kids make healthy, mature financial decisions that will last a lifetime. eBook version.
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4.1
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9 out of 1090%customers would recommend this product to a friend.
Customer Reviews for The MoneySmart Family System: Teaching Financial Independence to Children of Every Age - eBook
Review 1 for The MoneySmart Family System: Teaching Financial Independence to Children of Every Age - eBook
Overall Rating: 
4 out of 5
4 out of 5

Date:April 6, 2013
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Lindsey
Location:TX
Age:25-34
Quality: 
4 out of 5
4 out of 5
Value: 
4 out of 5
4 out of 5
Meets Expectations: 
4 out of 5
4 out of 5
The Economides, hailed as ”America’s Cheapest Family” in another of their books, want to help other families learn to manage their money, and pass that information on to their children. They say their book is for those parents who “define successful children as those who want to be independent and self-sufficient adults, able to stand on their own two feet and look back at their parents with a smile of gratitude for helping them to be autonomous.”
Sounds pretty good, right? They go on to detail their system to teach children financial responsibility.
One of their arguments-and it’s a great one-is that “most of life’s lessons have an escalating scale of cost”. So the earlier you and yours can learn to handle money well, the better.
It was an interesting read, though their system is so complicated I doubt I could ever stick to it.
That said, it inspired me to develop a system based on my family/children’s needs.
FTC: I received a free copy of this book in exchange for an honest review
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Review 2 for The MoneySmart Family System: Teaching Financial Independence to Children of Every Age - eBook
Overall Rating: 
4 out of 5
4 out of 5

Financial Boot Camp for Parents

Date:November 17, 2012
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gadfly1974
Location:Rochester, NY
Age:35-44
Gender:male
I’d never heard of the MoneySmart system before reading this book. In fact, other than teaching our kids to save some money and donate a bit to charity, I hadn’t considered how to prepare them for the adult world of money.
This book provides an excellent foundation for considering these things deeply and practically.
My family is not going to follow this system precisely. It’s far too rigid and prescriptive.
But it has given me plenty of ideas for how to help my children prepare for a lifetime of financial health without breaking the bank.
If you don’t mind picking and choosing elements from a very strict program, then I recommend giving this book a try!
Disclaimer: I received a free copy of this book from the publisher in exchange for my unbiased review.
+2points
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Review 3 for The MoneySmart Family System: Teaching Financial Independence to Children of Every Age - eBook
Overall Rating: 
4 out of 5
4 out of 5

"MoneySmart Family System"

Date:October 11, 2012
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Shoopette
Location:Indiana
Age:35-44
Gender:female
Quality: 
4 out of 5
4 out of 5
Value: 
3 out of 5
3 out of 5
Meets Expectations: 
3 out of 5
3 out of 5
After starting Dave Ramsey's "Financial Peace" class back in August, my husband and I kind of got on a huge saving money kick. Of course, that is not a bad thing at all, and over the last two months, we have been doing very well budgeting, saving more money, and getting rid of our debt.
Since we were on that saving kick, I started requesting books to review that were about finances - which led me to The MoneySmart Family System.
Overall, this book gave some good suggestions when it comes to teaching your kids how to handle money. This is the third book I have read on the subject, and I don't think it really had too much more to say on the subject than the other books did. However, the point system that this family uses is unique and may be just the thing for your family.
Although it sometimes read like a commercial (Buy our stuff! Buy our stuff! (at our website)), there are still tons of tips in this book on how to save our money and how to teach kids to be responsible with their money. I liked the examples of the age-appropriate chores and the suggested amount of money for each. Handling money well takes discipline, and this message comes through loud and clear in The MoneySmart Family System.
In this book, Steve and Annette Economides (is that really their last name?!) present some interesting views and ideas on teaching your kids about how to become financially independent, starting at any age.
We probably won't put this entire system into place for our family, but there are still many things that we will be taking from the book.
+1point
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Review 4 for The MoneySmart Family System: Teaching Financial Independence to Children of Every Age - eBook
Overall Rating: 
5 out of 5
5 out of 5

Will be definitely be putting this into practice!

Date:October 3, 2012
Customer Avatar
Bree
Location:Michigan
Age:25-34
Gender:female
Quality: 
5 out of 5
5 out of 5
Value: 
5 out of 5
5 out of 5
Meets Expectations: 
5 out of 5
5 out of 5
My husband and I are always looking for ways to:
1. Save money.
2. Live more frugally.
3. Be smart about our money in general.
4. Teach the kid to do all the above.
That’s why I was excited to have the opportunity to review The MoneySmart Family System: Teach Financial Independence to Children of Every Age by Steve and Annette Economides.
From the publisher…
The MoneySmart Family System will show you how to teach your children to manage money and have a good attitude while they’re learning to earn, budget, and spend wisely.
Learn how to:
Get the kids out the door for school with less stress.
End the battle over clothing—forever
Teach your children to be grateful and generous.
Inspire your kids to help with chores as a member of a winning team.
Prepare your kids for their first paying job.
Help your kids pay for their own auto insurance, and even pay cash for their own cars.
Employ strategies for debt-free college educations.
Truly help your adult children when they want to move back home.
Be prepared to deal with your adult children when they ask for bailouts.
With clear steps for children of every age, The MoneySmart Family System proves that it’s never too early, too late, or too hard to start learning financial responsibility.
------------------------------
I learned so much from this book. Not only did each chapter break down each topic, but it gave you multiple ideas and solutions.
This book is a wonderful guide that will help you get a better handle on your family's finances. It also teaches you how to raise children who are financially smart and responsible.
The hubs and I will definitely be putting some of these strategies in to practice!
Disclosure of Material Connection: I received this book free from the publisher through the BookSneeze®.com book review bloggers program. I was not required to write a positive review. The opinions I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”
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Review 5 for The MoneySmart Family System: Teaching Financial Independence to Children of Every Age - eBook
Overall Rating: 
4 out of 5
4 out of 5

Wonderful Money Managment Strategies

Date:September 15, 2012
Customer Avatar
JCHuffman
Location:Staunton, VA
Age:35-44
Gender:female
Quality: 
4 out of 5
4 out of 5
Value: 
4 out of 5
4 out of 5
Meets Expectations: 
4 out of 5
4 out of 5
This book teaches parents how to handle their finances, while giving them the skills and knowledge to teach their children money management. Lots of great tips, practical applications and success stories. Application of principles is broken down by age group so kids can be taught on their age level.
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Review 6 for The MoneySmart Family System: Teaching Financial Independence to Children of Every Age - eBook
Overall Rating: 
4 out of 5
4 out of 5

Great ideas and tips!

Date:August 20, 2012
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RamblingsMom
Location:Ontario
Age:25-34
Gender:female
Quality: 
4 out of 5
4 out of 5
Value: 
4 out of 5
4 out of 5
Meets Expectations: 
4 out of 5
4 out of 5
When I first received this book, I wasn’t sure if I would like it or not. Finances are different for every family, and so are opinions on how to manage them. I’m glad I got this book though!
I like how each section of the book is divided into practical and realistic tips for kids of different ages, from toddler to adult. Reading each section gave me an idea as to how to increase responsibility over the years, but if one was looking for quick tips on dealing with a situation they are facing now, they could find what they need easily within the age categories.
I think the most useful part of the book to me right now (as my kids are still very young, with my eldest turning 5 in December) is the basis of the system; how to introduce your kids to finances, ideas of when and how much to pay them for doing their “work” well and with good attitudes, how to reward the “extra” good behavior, and ideas for how much to pay children of different ages.
Instead of giving children an allowance just for being a part of the family, or for paying certain amounts for certain jobs, kids are taught that attitude is a large part of system. The system uses points that the children can earn, and they are paid a certain amount for each point. For example, a child might get themselves dressed and eat breakfast every day. But they only get a point if they do these things with a good attitude and without procrastinating. A child might earn extra points by doing a job that isn’t asked of them, simply because they noticed it needs to be done. This mimics the “real world” in how an employee might be rewarded by taking initiative and going the extra mile in the workplace.
The book also discusses family-related topics such as how to manage the television time in the family, what a parent should pay for and what a child should pay for at different ages, when to give your child a financial “boost”, or bonus, and when to give them tough love. It talks about the difference on how to manage adult children living at home while they are at school or working and how to manage adult children living at home when they should be on their own. It even touches on supporting adult children who are facing difficult times, such as addiction recovery.
Because of the way The MoneySmart Family System is geared towards families of all sizes, with children of all ages, I think there is something in this book for everyone.
Disclosure of Material Connection: I received this book free from the publisher through the BookSneeze®.com book review bloggers program. I was not required to write a positive review. The opinions I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255 : “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”
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Review 7 for The MoneySmart Family System: Teaching Financial Independence to Children of Every Age - eBook
Overall Rating: 
1 out of 5
1 out of 5

Keep Looking for Another Book

Date:August 4, 2012
Customer Avatar
Anne
Location:Baltimore, MD
Age:35-44
Gender:female
Quality: 
3 out of 5
3 out of 5
Value: 
1 out of 5
1 out of 5
Meets Expectations: 
1 out of 5
1 out of 5
This book is written by the Economides family. This couple paid off a lot of debt about 16 years ago and then began to give advice to other families. Basically, this book could be a "how to" teach your child about spending tool. They've raised several kids and homeschooled (5 kids from beginning to end for $1000). I'm pretty frugal, but I can't imagine homeschooling K-12 for $1000 in total without making a lot of sacrifices when it comes to curriculum or allocating what falls under homeschooling to other budgeting areas.
Before I go any farther, I want to rabbit trail to our pastor's sermon from last Sunday. It was about awaiting Christ's return and being awake. In the sermon, he mentions that if we don't look to Christ's return and are only focused on our life here and now, then our faith becomes a tool simply to a better life here. What he says about this has really stuck in my mind. That Sunday night in our small group, I realized that this is my concern about many Christian "self-help" type books. It is as if faith in God isn't about glorifying God in our lives--it is really just a means to a better life for us and our families here and now. I think this is really important that we have to be careful about how we view our lives and God's role in our life.
So, back to the Money Smart family System. This book is a book that reflects the judeo-Christian values that Dr. Dobson often talks about on Focus on the Family, except that God is never (to my notice) mentioned in the book. When the Economides pair recommends books, many Focus on the Family type of books are referenced and authors that I've heard from years past on the show. I was particularly interested in how they explain giving.
Here are a few quotes:
"We must help our children comprehend that the money they earn is not solely intended for their personal use or enjoyment--they have a responsibility to be a conduit of benefit to others." p. 70
"If we can consistently help our children see the benefits that come with sharing the simplest things, they will be inoculated against greed and miserly thinking as they grow older." p. 71
Reasons for giving include things like how it reduces clutter and opens their eyes (leading to compassion) and teaching the joy of giving. Note, God isn't mentioned in this chapter. Later in the book, there is a chapter on activities to develop activities for character, strength, and scholarships. In this chapter, religious activities are talked about. The positive reason for mission trips? "Being immersed in a different culture and learning how other people live can breed a deeper appreciation and greater satisfaction for life at home. Beyond that, it could open your child's heart to a possible career or avocation helping others in need." p. 123. Really? What about God? Serving Him and loving others because He first loved us.
This book is not what I'd recommend to a Christian family. God isn't a part of the picture this book presents. Is it a book I'd recommend to a family that wants to live a moral life, but doesn't believe in God? Yes. That's who this book is for. Is there a danger to a Christian family following this model? I think so. I think one of the greatest pitfalls for our children to believing in God is the strong American value that we can do it ourselves. We don't need help or need anyone else. We are always hearing "Believe in yourself" . We need to be careful to teach our children, I believe, that everything we have comes from the Lord and we are to be good stewards of it.
To sum it all up: if you're looking for a list of age appropriate chores, check this book out of the library. Aside from that, I don't recommend this book.
Please note that I received a complimentary copy of this book from Thomas Nelson Publishing.
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Review 8 for The MoneySmart Family System: Teaching Financial Independence to Children of Every Age - eBook
Overall Rating: 
5 out of 5
5 out of 5

Date:August 1, 2012
Customer Avatar
DUCKgirl
Age:25-34
Gender:female
The MoneySmart Family System
The MoneySmart Family System:
Teaching Financial Independence to Children of Every Age
By Steve Economides and Annette Economides
Book Description
Is it possible to raise financially responsible kids of any age in a society filled with consumerism and entitlement?
New York Times best-selling authors Steve and Annette Economides raised their five kids while spending 77 percent less than the USDA predicted. And the money they did spend was also used to train their children to become financially independent. The MoneySmart Family System will show you how to teach your children to manage money and have a good attitude while they’re learning to earn, budget, and spend wisely.
Learn how to:
*Get the kids out the door for school with less stress. *End the battle over clothing—forever *Teach your children to be grateful and generous. *Inspire your kids to help with chores as a member of a winning team. *Prepare your kids for their first paying job. *Help your kids pay for their own auto insurance, and even pay cash for their own cars. *Employ strategies for debt-free college educations. *Truly help your adult children when they want to move back home. *Be prepared to deal with your adult children when they ask for bailouts.
With clear steps for children of every age, The MoneySmart Family System proves that it’s never too early, too late, or too hard to start learning financial responsibility.
And all the money handling advise was awesome.There are lots of tips, advise and just plain good ideas in this book that I really think can be made to apply to every family out there. Did they all fit my family? No, of course not. But I can take what I've learned in this book and apply it to my family.
I received a copy of the book in exchange for a review. No additional compensation has been received and I was not required to write a positive review.
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Review 9 for The MoneySmart Family System: Teaching Financial Independence to Children of Every Age - eBook
Overall Rating: 
5 out of 5
5 out of 5

The Moneysmart Family System

Date:July 31, 2012
Customer Avatar
msmith
Age:25-34
Gender:female
Quality: 
5 out of 5
5 out of 5
Value: 
5 out of 5
5 out of 5
Meets Expectations: 
5 out of 5
5 out of 5
Description on back of book:
Is it possible to raise financially responsible kids of any age in a society filled with consumerism and entitlement?
New York Times best-selling authors Steve and Annette Economides raised their five kids while spending 77 percent less than the USDA predicted. And the money they did spend was also used to train their children to become financially independent. The MoneySmart Family System will show you how to teach your children to manage money and have a good attitude while they’re learning to earn, budget, and spend wisely.
Learn how to:
*Get the kids out the door for school with less stress.
*End the battle over clothing—forever
*Teach your children to be grateful and generous.
*Inspire your kids to help with chores as a member of a winning team.
*Prepare your kids for their first paying job.
*Help your kids pay for their own auto insurance, and even pay cash for their own cars.
*Employ strategies for debt-free college educations.
*Truly help your adult children when they want to move back home.
*Be prepared to deal with your adult children when they ask for bailouts.
With clear steps for children of every age, The MoneySmart Family System proves that it’s never too early, too late, or too hard to start learning financial responsibility.
My review:
Let me tell you that I really enjoyed this book. Not only did each chapter really break down the topic at hand, but it gave you multiple ideas. For example, the clothing chapter. I have five kids, we have a lot of clothing. My girls are 16, 13 & 11. The boys are 7 & 2. So the 16 year old is always passing her clothing down, but my 13 year old isn't into that size yet, so they collect and fill up her drawers and closet. What a great idea it was to put them in boxes, make a file system, number the boxes and find the box when we need it. I mean, who knows, the 11 year old might need the 16 year old's clothes before the 13 year old. We all know that kids grow differently!
And all the money handling advise was awesome. I've tried to teach my kids the importance of saving for the future, whether that it a toy, a trip or college. But it seems like only one of my kids actually listened! There are lots of tips, advise and just plain good ideas in this book that I really think can be made to apply to every family out there. Did they all fit my family? No, of course not. But I can take what I've learned in this book and apply it to my different kids, at their different ages and hopefully help them become "Money Smart".
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Review 10 for The MoneySmart Family System: Teaching Financial Independence to Children of Every Age - eBook
Overall Rating: 
5 out of 5
5 out of 5

Great Ideas for Teaching Money to Kids

Date:July 31, 2012
Customer Avatar
Svlemommy
Location:TX
Age:35-44
Gender:female
Quality: 
5 out of 5
5 out of 5
Value: 
5 out of 5
5 out of 5
Meets Expectations: 
5 out of 5
5 out of 5
This is something we're just starting to teach or 5 year old. We're working with him to understand saving, tithing and budgeting. To be honest, it's something we're learning ourselves as well.
This book has the goal of teaching children "to be independent, self-sufficient, and mature adults who can stand on their own two feet financially." I wish I'd had this training before college. Really... although it's never too late to start and learn.
This book describes how the authors taught their children to earn and manage their money. It also teaches how to set up a similar point system for earning. I think I really like this idea and am trying to set up a similar system for our children.
They teach what each child should do to earn their points and how to figure out what each point is worth at the end of the week. It's really a simple system. I'm just not sure about paying my kid to be good at school or to complete homework. Maybe that will work, maybe that will cause problems...I have to test it out to see.
They have a helpful chore chapter with appropriate chores broken down by age. Again, I'm not sure about paying for this. I think that learning through a consequence for not doing something is more effective. I'm willing to try though.
I like that the book deals with learning past the school ages. Really, as parents, we don't expect our children to stop asking for guidance or help or advise once they walk the graduation stage. I know I still look to my parents for ways to do things.
There are several chapters dealing with teaching kids how to manage the money they own. These are open to customizing for your particular family.
I received a copy of the book in exchange for a review. No additional compensation has been received and I was not required to write a positive review.
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