The MoneySmart Family System

The MoneySmart Family System[Download] ➶ The MoneySmart Family System Author Steve Economides – Heartforum.co.uk 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 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 percent less than the USDA The MoneySmart MOBI :Ä 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 wiselyLearn how toGet the kids out the door for school with less stressEnd the battle over clothing—foreverTeach your children to be grateful and generousInspire your kids to help with chores as a member of a winning teamPrepare your kids for their first paying jobHelp your kids pay for their own auto insurance and even pay cash for their own carsEmploy strategies for debt free college educationsTruly help your adult children when they want to move back homeBe prepared to deal with your adult children when they ask for bailoutsWith 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“Every parent or parent to be should read this book” —Dr Laura Schlessinger.

Steve and Annette Economides Econo mee' dis were married in At that time Steve worked as a graphic designer earning per hour while Annette stayed home to figure out how to stretch their pennies until they begged for mercy The MoneySmart MOBI :Ä In just nine years on an average income of just they purchased and paid off their first home They have also paid cash for all of their cars taken fabu.

The MoneySmart Family System PDF í The MoneySmart
  • Paperback
  • 272 pages
  • The MoneySmart Family System
  • Steve Economides
  • English
  • 07 May 2014
  • 9781400202843

10 thoughts on “The MoneySmart Family System

  1. Regina Hyman says:

    Recommended to me from someone a budgeting board to explain the process they used to teach their young children about money I highlighted and skipped some chapters that were not yet relevant to our family Overall there are a lot of helpful tips that I plan to utilize with our family

  2. Liz Busby says:

    Good money tips but a bunch of other patronizing advice as well

  3. Sarah says:

    While it provided some interesting information about getting your kids in the habit of earning their own money early and understanding accountability the rest of it was a testament to how you should raise your kids without having much to do with family economics For instance TV's in the household bad Videogames the worst What does that have to do with finances? Especially if a child manages to save up their funds and by them for their own use? I also thought that holding off on a child getting their Driver's License is not a realistic expectation for all areas Where I live a rural area with a half hour drive to any civilization it would not have been feasible to say OK go get a job but you will have to walk to it or a parent who works full time will somehow have to rearrange their schedule in order to take you to and from work Yeah that wouldn't fly In this area a license is a pre re to getting and keeping a job Also when mentioning part time work schedules they said it was unacceptable for their child to have to work during the supper hour They had their kids talk to the managers about how they absolutely could not work when they should have been at home having supper with their family And that manager didn't fire them because? Oh well all that aside I would recommend looking elsewhere for a helpful book on family economics

  4. Elle says:

    I thought this book was amazing and I will definitely purchase it for my own bookshelf rather than just leave it at the one read from the library I have two children 8 and 11 and the practicality and understanding from experts who get it Additionally despite mentioning their faith they made no attempts to push it on someone preferring to keep to the important part of the book raising children to be financially independent and strong

  5. Joi Grady says:

    Seemed like I'd read most of this information before but I liked the idea of the point system and payday

  6. Jennifer Wilson says:

    In The MoneySmart Family System Steve and Annette Economides set forth a plan on how to no only curb the wants of children but teach them about finances budgeting and saving from an early age They discuss through this book how the system works Everyone is expected to do chores and points can be earned for various activities in the day The number of points earned each day translates into allowance that will be given and then the children are expected to give some save some and are allowed to spend someOne of the biggest problems I have with this book is starting at age nine children are expected to be buying their own clothing Based on the numbers set forth in the points system it feels to me the points need to be valued at a bit Unlike some people who have read this book I don't find the problem in making the children buy their own clothes but I do think they should be given a bit funds to do soThis is an excellent book and even if you wouldn't want to use all the ideas in it it has a lot of suggestions for all ages from pre school through adult Additionally if you already have children you would have to ease into this system They speak of shopping garage sales and thrift shops and if your teens are used to buying jeans at the mall to make that switch suddenly would likely create lots of arguments The premise of this book though is the younger you can instill good financial habits in children the less costly their mistakes will beThe other thing I feel this book is missing is teaching children about starting their own business I understand they want to teach them to have a job and be responsible but what about if that job is babysitting or shoveling snow when they are younger or another idea At age sixteen they expect their children to get a part time job which I think is fine however what if their child would have a great idea to go to work for themselves? This isn't discussed at all America needs small business owners and my concern without thinking this through might limit a child's future if he isn't encouraged to think about what he could do for himself and his ideas of work are limited to just working for anotherI think this is an excellent book and one I would recommend to all parentsFTC disclosure I received a free copy of the book from the publisher I was in no way reuired to post a positive review All opinions are my own

  7. Lynnea says:

    The MoneySmart Family System by Steve and Annette Economides was provided to me on my nook by Thomas Nelson Publishing in exchange for an honest reviewThe subtitle is Teaching Financial Independence to Children of Every Age It does teach financial independence but it also teaches basic independence and character as well Because of that I think this book is of a parenting book than a money book For example some of the later chapters are much parenting advice involved with some finance thrown in Activities for Character Strength and Scholarships Playing and Paying Toys Recreation and Technology gives helpful websites for moviegaming reviews Gifts and Gratefulness and Friends Love and Marriage They are well written chapters and I agree with them almost 100%; Ex Parental involvement is critical and so is honesty We know one family who allowed their eleven year old daughter to lie about her age so she could have a Facebook page She learned an important lesson from her parents she doesn't need to follow the rulesthey just seem out of place in a money bookThe book starts by explaining the 550500 rule Steve was a graphic designer and learned that if a mistake was caught early in the printing process it may only cost 5; if the mistake is caught a little later that mistake may cost 50 But if the mistake is caught near the end of the process it could cost 500 And so it is with raising our children If we train them well when they are little their mistakes will cost less 5 As they get a bit older the mistake could cost 50 500 5000 etc Throughout the book this analogy is used in a helpful wayThis book goes into detail about chore charts points and 'pay days' including chart examples and pages to copy However on the nook that doesn't work Many ideas the Economides' family uses are very similar to ideas we currently use There are a few things I think we may implement after reading this book raising the 'pay day' amount to include clothing money andor extracurricular activitiesThe best part of this book I think is the number of references provided Books and websites are mentioned if you want information on certain areas lists are made for you as to how to buy a used car how to file for college scholarships etc They also tell you about two chapters they have online which I have not yet read

  8. Sarah says:

    Maybe I should give it stars It's a perfectly acceptable system to use to teach kids about money and much better than not thinking about how to approach it at all or completely failing to discuss money with your kids which is a pretty common default I also like that the kids are provided enough money to be put in charge of real expenses; this teaches financial responsibility much effectively than if they're only getting bubble gum moneyBut I disagree with the authors on a number of things1 They have a point system and essentially pay their kids for doing chores That's fine but they include very basic expectations in the system There are a lot of things my kids do around the house that I don't consider to be optional but if I were using a system like this then the kid could basically decide not to do them with the only conseuence being they wouldn't get paid Well that's not explicitly stated in the book but if the kids are reuired to do chores no matter what it doesn't make sense to pay them for the work Basically I feel that there are some things kids should be expected to do as members of a household without being rewarded for them and this system provides a loophole that depending on kids' personalities could lead to greater conflict and less intrinsic motivation to be helpful2 They divide kids' money into spending savings and charity This is pretty common for parents to do but I think it's too controlling If it's really their money let them make their own choices about it My son donates money and earns for the express purpose of donating it because he wants to not because he's being told to and most kids have that desire to help others And I at least would resent being forced to do it which would probably make me LESS likely to as an adult My daughter saves money because she wants specific things and if she'd rather blow it on cheap things rather than get something she REALLY wants that's her choice and a lesson learned in the long run3 The system reuires a LOT of direct parental monitoring of chores to work well Frankly I don't want to spend my time checking up on all the things my kids do several times a day The authors have a large family and maybe that degree of monitoring is generally necessary to keep life flowing smoothly But with just two kids I don't want to have to police them so carefully

  9. Jamie says:

    Steven and Annette Economides have made a name for themselves as America’s Cheapest Family As with any family they’ve tried to pass on their financial strategies onto their children In The MoneySmart Family System the Economides’ share their methods for helping children of any age develop financial independence The book promises to teach the reader how to deal with many situations including teaching children to be grateful and generous prepare kids for their first paying job and helping them develop strategies to get through college debt free They provide tips and techniues for all different stages of life from children under 5 to adult childrenFirst of all am I the only one who finds it ironic that a couple with the last name Economides has written multiple books related to finances? EconomyEconomideshaha Ok now that I’ve got that out of my system I’ll get on with the review This book is chock full of information not all of it was relevant to me at this stage of life but I read through them anyway to get tips for the future While there are some really good ideas there are some concepts that I just can’t see my family adopting For example I don’t think a 9 year old needs to be budgeting to buy their own clothes As a parent I feel that it’s my job to buy my kids’ clothes I also think that it’s a sad testament to today’s society that they needed to include sections on how to deal with adult children that should be out their parent’s house and on their own That’s not fault to the authors I’m sure some parents are in desperate need of such informationOverall this book was okay It is well written and easy to understand but some of their techniues seemed a little harsh to me I am trying to instill good financial sense in my children but I’m not sure that reuires adopting a time card method in our home or forcing them to put 40% of their earnings into a clothing fund It’s worth a read to pick up some useful techniues and tips but I would be willing to bet that following this system 100% wouldn’t really work with most families Just like any of the other books I’ve read on finances there are certain things that I apply to my own situation and other things I don’t I’d encourage anyone to do the same

  10. Rebecca says:

    I have loved the Economides' books since they first came out I have their two previous books also family financed based And I admit that i was fascinated by a couple who's name was Economides who wrote about money Too much for my little brain i guess Anyway I loved this book as much as I loved their previous books I think The MoneySmart family system is a GREAT addition to anyone's family libraryThe author's write in an engaging way about why its important to raise money smart kids they talk about the implications of children who are crippled by this lack of skill But they take it a step further and not only talk about WHY your kids need this skill but give practical examples of how to practically implement this skill in your home I found many great ideas that I will use in my family as we definitely have issues in this area I love how the authors come from a background of a large family without a lot of money This I can relate to and it not only makes them credible but means that they are providing the valuable information that us family people NEED I don't want to know about investments right now or building or maximizing our portfolio i just want to raise children who love the Lord and who use their money effectively for HIS purpose Their system is one that shows me how to do that Additionally It also teaches responsibility all around And its doable being uite broke as we are constantlyI give the MoneySmart family system a 5 star reviewDisclosure of Material Connection I received this book free from the publisher through the BookSneeze®com book review bloggers program I was not reuired 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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