Children and Money

Ebook Review: How To Teach Your Kids about Money

the frugal farmer's ebook

My good friend, Laurie, also known as The Frugal Farmer, wrote a short e-book on how she and her husband are teaching their kids about money. As you know, this is a subject that is near and dear to my heart. I finally got a chance to read my copy, and I’m happy to report that it is full of great information.

If you are unfamiliar with Laurie, she and her family decided to confront their growing debt head-on and made the commitment to eliminate it forever in January 2013. This was no small undertaking, and I am very proud of how far they have come in their journey. They have made so many positive changes, and one I must point out is their decision to talk to their kids about money, specifically their debt.

Laurie and Rick were taking this seriously, which meant the changes they planned to implement would affect their children. They cemented their plan first, then sat down and talked to their kids. I invited Laurie a few weeks ago to give us the inside track on her debt conversation and the outcome with us. It’s a great read for those who need to have this conversation with their children but don’t know where to start.

Easy to Read with Valuable Money Lessons

The Frugal Farmer's ebook We teach our kids many of the same lessons, including money is earned, setting goals, being entrepreneurial, etc. What I appreciate most is that Laurie makes it simple—because it is simple. We tend to make simple things hard because we have this mistaken perception that things must be hard in order to be effective. This is definitely not one of those situations.

One lesson that stood out in particular to me was their decision to loan their daughter, Maddie, some money for a highly coveted pink compound bow. She quickly learned how much she hated having half of her allowance go to the bank of Mom and Dad to repay the loan and interest for eight long months. Today, Maddie is your typical teenage girl, which means she wants lots of stuff. When Mom and Dad offer to loan her money, she quickly responds with a “no way”. She has seen firsthand the cost of debt and recognized that debt isn’t something you should enter into lightly. Love it!

Make the Commitment to Raise Financially Confident Kids

Money is unfortunately a topic that is not on many parents radar and one we need to make a priority. We all make decisions every day with our money and our children need to learn how to good decisions now and in the future with their money. Laurie’s book is an excellent place for you and your kids to begin your journey and at $4.99 it’s also an expensive start.


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Leave a Comment


  1. Wednesday, June 11th, 2014
    Wow it's great that you taught Maddie money lessons at such a young age! I think a lot of teenagers would jump at the prospect of a loan from Mom and Dad. I also like that Laurie keeps it simple in her book. Every topic - personal finance or not - can be over-complicated, which just leads to excuses for not taking action.
    • Wednesday, June 11th, 2014
      Thanks, DC! It's so comforting to know that our kids will enter into adulthood knowing what they need to know about how to manage money properly. Obviously, we can't force them to follow good rules, but we have peace of mind knowing that we've done all we can do on our part.
  2. Wednesday, June 11th, 2014
    I was also asked to review this book and I found it to be a great read for people who really wanted to make a difference when it came to teaching their kids about money. It really is a great starting point.
  3. Wednesday, June 11th, 2014
    This is great! Congrats Laurie!
  4. Wednesday, June 11th, 2014
    I truly think I am set for life in terms of literature for my future children! This is so great, particularly because I'm learning the importance of money and kids before I even have them.
    • Wednesday, June 11th, 2014
      Natalie, you are so good at preparing yourself beforehand for all of this stuff. Kudos to you!
  5. Wednesday, June 11th, 2014
    I really wish my parents taught me about finances when I was young. The thing is, they don't know about it either so I can't really blame them for it. I will make sure I teach my kids and everybody that crosses my path because a little education goes a long way.

    I learned a few things only a year ago and already my finances have turned around tremendously.
    • Wednesday, June 11th, 2014
      I was in the same boat, Aldo, and this was the catalyst for this book. We didn't want our kids to enter into adulthood not being prepared in how to handle their finances. And you're right: you can learn quickly if you wish to. There's no shortage of great information out there.
  6. Wednesday, June 11th, 2014
    I read this book and thought it was a great (and inexpensive) resource for parents. There are a number of great anecdotes and lessons to be learned!
  7. Wednesday, June 11th, 2014
    I'm excited to check this out!
  8. Wednesday, June 11th, 2014
    Congratulations Laurie! I love all of the positive things that are coming out of your financial state. What you have learned, what your children are learning, and all they ways that you are sharing what you have learned with others. I don't know if you believe the statement "everything happens for a reason", but you are definitely demonstrating how being in debt isn't the end of the world, and how it has helped your family learn valuable life lessons that they can carry with them as they build their own families one day.
    • Thursday, June 12th, 2014
      Well, I do believe that our debt happened for a reason: our own financial irresponsibility and making poor money choices for way too long. :-) But I also know that we can use it to make good come out of it, and that's our goal. So many times people think that because they're heavily in debt that that's the end of the story, but it doesn't have to be. Money problems can be turned around, and that's what we hope to show others, so that they're not stuck with a mountain of debt forever. Thanks much, Sicorra. :-)
  9. Wednesday, June 11th, 2014
    I think it is so important to teach kids about money at a young age. My little one is still young, but I definitely want to be prepared! I'm sure you have some great ideas and lessons in there...will check it out for sure!
    • Thursday, June 12th, 2014
      Andrew, I'm excited that you guys are so committed to teaching your little one financial responsibility, even at this young age. It's smart to have a plan in place. Even at 3 and 4, kids can start learning some of the basic concepts of good vs. bad money management and learn some healthy habits.
  10. Thursday, June 12th, 2014
    Love that debt story. What a great way to teach that lesson early on before the debt accumulation becomes serious and scary.
    • Friday, June 13th, 2014
      Thanks, Stefanie. Yeah, I'm so glad we've shared this journey with our kids: they're learning so much.
  11. Thursday, June 12th, 2014
    I absolutely cringe when I think about how much money I burned through during my teenage years. I'm not saying you shouldn't have any fun during your teenage years, but I definitely could have saved up more for college and the future. I think it's great to help kids establish an understanding of interest- I know that concept took some time to sink in for me : )
    • Friday, June 13th, 2014
      Same here, Liz. I blew SO much money during my teen - and adult - years. Better to learn late than never though, right? :-)
  12. Thursday, June 12th, 2014
    Starting to teach your kids about money as early while they are young would definitely lead them to be good in handling financial matters. I have a seven year old daughter and I slowly teach her about how to deal with money, surprisingly, she copes up easily and she is also a frugal type of kid.
    • Friday, June 13th, 2014
      Sounds like you're doing great with your daughter, Marie. Keep up the good work :-)
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    "As a Certified Financial Planner, it is my passion to help individuals and families build a healthy relationship with money. I look forward to helping you raise financially confident kids.” - Shannon Ryan