Book review – The Opposite of Spoiled

the-opposite-of-spoiled-by-ron-lieber-fullBook:
The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous and Smart About Money by Ron Lieber

Why I read it:
As a parent, I want my children to have the advantages I never had but I don’t want to spoil them. A New York Times personal finance author who is also a dad seemed like the perfect person to offer advice.

Key content:
Lieber interviewed parents from every walk of life and it’s clear that families in all income brackets are concerned that their kids might become entitled. The book is chock-full of tips and ideas you can use to help your kids understand the value of a dollar. You may not like or agree with all of them but you will definitely get some nuggets you can implement right away.

Things I learned:

  •  If you want money-smart kids, you need to have honest conversations about money including your own household budget and concerns about your finances
  • Idea: when kids ask for something, have them do a “fun ratio” to calculate the hours of fun it will bring versus the hours of work to earn the money
  • Allowance shouldn’t be tied to chores because chores should be done without expecting compensation (I don’t think this will work in our house but he makes a compelling argument for it)

Uncomfortable moment:
Realizing that I haven’t done enough to help my kids understand the need to give back.

Eureka insight:
When we avoid conversations about money, we lose a valuable opportunity to help our children develop strong values

The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous and Smart About Money by Ron Lieber. Copyright 2015, Harper Collins Publish

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Louise Armstrong

Louise Armstrong is a Toronto-based freelance writer and content manager who blogs about life and work at www.louisearmstrong.com