Dollars & Sense for Kids: What They Need to Know about Money--And How to Tell Them

There are a lot of books out there for kids about money. There are tons of books out there for adults about money. But there are suprisingly not a lot of books out there to help parents raise kids who are financially savvy. In a nation where kids have more and more discretionary income, earlier access to credit, are targeted with advertising from a young age and influence on the spending of parents, this type of book is needed more than ever.You don't need an MBA to read this humorous, down-to-earth style. The advice applies to real life families and real life situations. Many times you will read the question and answer section and wonder if you yourself or at least your kids actually wrote in to the author.The book does have an emphasis on personal responsibility (which was actually why it resonates so well with me) and teaching your kids to be responsible consumers. Perhaps the people who offered negative reviews disliked this aspect of the book. For example, if your child has spent his allowance and needs money to buy a birthday gift for a friend, is it more caring to let him learn his lesson or do you just give in and give your son additional cash? The chapter on allowance is worth it alone. I can't reccomend this book highly enough.

Dollars & Sense For Kids: What They Need To Know About Money - And How To Tell Them by Janet Bodnar (Senior Editor, "Kiplinger's Personal Finance Magazine") is a practical and "user friendly' parenting guide to the art of teaching kids of all ages how to be responsible with their money. From using allowances to teach hands-on experience in budget and resource management, to helping children balance the responsibilities of a part-time job with schoolwork and other concerns, to coping with teenagers who think they know everything about money already, Dollars & Sense For Kids is a highly accessible and strongly recommended money-management instructional manual for parents at any income level.

Dollars and Sense for Kids is right on the money. Janet Bodnar has been writing about kids and money for over 20 years and knows what she's talking about. Although it may sound harsh, Ms. Bodnar instills values that WILL work. If one looks at the state of the economy right now in the US and sees that most kids never learned about finances from their parents, they will see many parents weren't doing their job. While Ms. Bodnar's kids will be financially set, other such authors, who chose to candy coat financial issues with their kids, will be the ones who will be bailing their kids out in 10 - 20 years. Their kids won't know what to do with the little they earn. Kids need a parent who will be frank with them, especially about finances. Not a parent who wants to be their kid's friend. I read Ms. Bodnar's columns in both Kiplinger's Personal Finance, as well as on Kiplinger.com whenever they come out to get information that will help me. Dollars and Sense for Kids is loaded with information that you can pass on to your kids, however you choose to do so. Look at the content. Good Stuff.

I'm not exactly sure what the previous reviewers disliked about this book. I found it to be a frank discussion of money issues related to kids. Maybe the "for kids" in the title was misleading, the content is clearly for parents. With this book a parent can get a grasp on a large number of ideas and resources to help kids manage money. The author has done a good job of putting together a work covering everything from handling money discussions with preschoolers to working out money issues with teens and everything in between. This is a great reference book containing ideas about guiding kids who are making money, and also has information to help kids manage that money and manange the situations surrounding it. There are web sites, a generous bibliography and plenty of ideas and advice for different age kids and different situations. The book is worth the price for the three chapters on savings, investments and kid businesses alone. If you are looking for a well written, no nonsense book about kid finances you would do well to give this book a second look.