Cash Cow Kids Book Review

Cash Cow Kids

I love, love, love “Cash Cow Kids: The Guide to Financial Freedom At Any Age” by Lisa Jordan and Sheri Provost. It’s a great book for helping your kids learn more about money.

First, it’s a short, quick read. It’s the size of a pamphlet – it’s only about a hundred pages and not in teeny tiny print.

Second, it’s organized into topics for different age groups (Preschool, K-3rd grade, 4th-6th grade, middle school, high school, and college), so it’s good for any family no matter what the age of your children.

Finally, and more importantly, the ideas and topics are very practical and easy-to-use.

Unlike some of the other books I’ve read that are more “textbooky” (i.e., dry) and more step-by-step instructional manuals, Cash Cow Kids philosophy is more about taking advantage of every day situations to talk to your kids about money. For a long time, I was searching for a silver bullet for teaching my kids about being financially fit, but I never found one. Frankly, there is no one-size-fits all or users manual for your kids. So I’ve come around to the same thinking that, as parents, we are our kids’ most important guides to the financial world and that the most important thing for us to do is to simply talk to and share our knowledge with our kids about personal finance. Anyways, Cash Cow Kids is written with this philosophy and provides plenty of examples and ideas to talk about with your kids. They weave some examples throughout the book; they even have a larger list of ideas in the Appendix of the book.

Here are some “Talking Point” examples from the book:

  • Acquaintances. Whenever you run into a friend or an acquaintance who has been able to succeed in a given profession, talk to your kids about what that person does to earn a living. Discuss the pros and cons of that type of business, what type of education it requires, why the friend has succeeded, and how he or she got there. Talking about someone’s attributes/strengths will give your kids a good standard for analyzing interests and professions they might pursue.
  • Bill Paying Party. Paying the bills is not a fun task, but must be done monthly/weekly. Why not let your kids join the party, get their calculators out and write those checks.
  • Grandparents/Elderly. When you leave their grandparents or when visiting an elderly person, talk to your kids about the concept of retirement. Discuss what retirement means, how retired people live if they aren’t actively working, what those people did to earn money so they could retire.
  • Grocery Store. The weekly trips to the grocery store can be a great learning experience. Pointing out the costs of the items you purchase can teach kids a lot.
  • Television Time. Watching commercials gives a perfect opportunity to identify all kinds of topics to talk about related to money. Talk about the product for sale, the marketing of the product, the advertising style, the company, the concept and all of the people and businesses related to that one product.
  •  And more….

Again, “Cash Cow Kids: The Guide to Financial Freedom At Any Age” is a great little book that has plenty of easy-to-use examples to help you share your knowledge about money with your children so they are better equipped to handle their own finances when they grow up.

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