Book Review: The Opposite of Spoiled
Dec 12, 2023
(Click the image above to watch the video review and read below for the printed review.)
As a parent, are you trying to figure out a process to pay you kids for chores? Do you know how MUCH to pay your kids? Do you want to know how to teach them to invest money? Do you know what ‘good money habits’ even look like? Check out today's book review for those answers!
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*Smart But Scattered – This is the other book that was inspirational to our Family Routine System (and includes the quiz mentioned in the review). Book Reviews found on the blog.
P.S. If you want a hassle-free system creation for your home, the Finance For Families resources page will have more trainings and toolkits found here.
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Show notes:
All these questions and more were what we were asking when I first read this book.
Other Questions I had included: HOW do you do allowance without kids just expecting to be paid? And how MUCH should a 7 year old “earn” versus a 13 year old as well as, should their job expectations be different?
What I loved is that this book is full of tangible examples. What’s even more awesome is that the author gathered insight - journalist for the New York Times.
We have four kids that are all older and all needed different levels of money exposure = I acted like a maid, There’s nothing wrong with doing things FOR kids, but our current society teaches us that parents SHOULD do things for kids.
A big ah-ha moment – in the book, it’s explained that we have a cultural mindset shift….we need to go back to EXPECTING kids to be valuable contributors to society! Our parenting style included requiring the kids to be accountable and help if called.
But that required the PARENTS to regulate their brain – dictating when and how and where chores were done. But in the book I learned – in order to stop ACTING as the brain for my kids, we had to teach them HOW to train their brain to know what is their responsibility.
Let’s hop into the main points of the book…….
Main take-away: Kids NEED to feel and actually touch money.
The first action item my family implemented immediately was to do a cash payday every two weeks after we setup a Work For Pay system.
Important to note: You must create a system that is *Explicit *Systematic *Sequential (otherwise it can’t be repeated)
If you are watching right before a break from school or a holiday, PERFECT time to start this now! It can also easily be added
Next take-away: Discuss value of money and the value of our time as often as we discuss things like ‘what snack are we eating today?”
For my brain was to find a way to discuss money in a healthy way with my kids. The book = define what money does….what money is (a trade of currency for an item of value) & money has power to help people
Talking about the value of our time and cash gives control over to the kids so they can get exposure to things like home values, about income brackets, medical costs, and make sure to discuss taxes!
3rd take away was developing routines around earning money.
*Scheduling: Time spent earning THEN playing (revenue in first position).
*Once the kids have a handle on earning 80%, saving 10% and giving 10%. Then it’s time to start actively putting that money to work.
Comment to let me know YOUR biggest ah-ha moment and share with friends who may benefit from learning about the value of teaching your kids about money.
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