Gold Start - Teaching Your Child About Money
By Andrew Lendnal
Exisle publishing, $34.99
This is an invaluable book for parents who want to teach children about money - how to earn it, save it, and avoid debt.
It's straightforward and easy to follow, with lots of practical tips and advice.
The aim
is to provide strategies to set up a child with great money habits for life. A huge challenge for parents in our relatively affluent society is that kids have too much stuff - too many toys, clothes and, as they get older, easy access to credit and therefore debt.
Author Andrew Lendnal discusses the pitfalls of affluenza - the modern epidemic described as an unearned feeling of entitlement for luxuries, especially among children. The primary symptom is over-consumption. For children from wealthy families, the presence of money becomes a disincentive to lead a productive life.
He gives tips for breaking the materialism trap and teaching kids the difference between needs and wants. He also stresses the importance of imparting good values to your children and leading by example. Allowances, saving and investing are also covered.
Lots of family activities are provided to teach some of the key concepts, and there is a special section at the end for teenagers.
