In Get Out of my Pocket! Sylvia Bowden draws on her own experience as a mother, counsellor, budget advisor and money coach to offer practical advice to parents on how to safeguard their own financial resources and raise kids to be financially independent. Throughout she uses a relaxed and friendly writing style to communicate soundly-based financial concepts without intimidating jargon.
All the points Sylvia covers are illustrated with case studies and monetary anecdotes to engage the reader’s attention. There’s some ‘tough love’ (which she has had to apply with her own children) in there too, as one means of moving children towards financial independence and responsibility.
If you feel your kids are sending you broke, Get Out Of My Pocket has the answers to your problem:
- Be a Super Parent! – discusses how to be a good role model and invites you to examine your own thinking on income and expenditure.
- Run a Tight Ship – introduces the household spending plan, encourages common sense and creativity and demonstrates the difference between ‘needs’ and ‘wants’.
- Be Smarter than Your Kids! – explains when to say no and how to set boundaries; how to teach children to look after their stuff (and why they should) and how to make good decisions about money.
- Raise Financially Savvy Kids – covers basic money skills like managing pocket money and allowances. Exposes the real costs of buying cars or goods with finance, even if it’s interest free. Gets them earning their own money and teaches them to save for their own future.
- Let Your Kids Grow Up – prepares them to leave the nest and includes insights on the perils of ‘rescuing’ your offspring through personal loans or acting as guarantor