Product Description

A parent's guide to raising financially responsible children in an age of unprecedented wealth

It is natural as parents that we want to give our children the best of everything. And in an age of unprecedented wealth and easy credit, upper- and middle-income parents can indulge that urge like never before. Yet, you have become alarmed over the impact this newfound affluence may be having on your children. You fear that through your generosity you are training your children to be greedy, selfish spendthrifts. The first parenting guide to focus exclusively on this increasingly sensitive topic, Silver Spoon Kids was coauthored by a psychotherapist who counsels people with money-related emotional problems and a lawyer specializing in estate planning.

Drawing upon their experiences as members of the renowned NYU Family Wealth Institute, they tell you how to talk to kids about money, how to teach them to handle it responsibly, and how to instill in your kids a sense of giving to their communities.

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Product Details

Publisher	McGraw-Hill
ISBN	0809294370
Format	Paperback
Author	Eileen Gallo,Jon J. Gallo,Kevin J. Gallo
EAN	9780809294374
UPC	639785400042
Label	McGraw-Hill
Edition	1
Dewey Decimal Number	649.10973
Studio	McGraw-Hill
Number Of Pages	272
Title	Silver Spoon Kids : How Successful Parents Raise Responsible Children
Publication Date	2001-12-28
Manufacturer	McGraw-Hill

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Customer Reviews

need to know, must read!!

Review by DPJ, 2008-11-16

It is never to late to learn good tips on how to raise your children, furthermore this book makes you think about your own values and behaviors towards money

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A wealth of knowledge on wealthy families

Review by Gary Buffone, 2008-01-30

As someone with direct experience on the topic, I read with great interest the words of the Gallo's as they thoughly covered a wide range of topics having to do with children and money. I found their advice practical and easily applicable for parents that find themselves struggling with the common questions of using allowances, learning budgeting, and consumerism. This book is an easy read and would be a helpful tool for parents who want to teach their children to handle money responsibly.

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How to help your children avoid entitlement

Review by Anthony J. DeToto, 2007-07-21

If you teach your children how to be financially responsible between the ages of 4 and 18, you have a much higher probability of having them not back at home living with you between the ages of 22 and 35.

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Required Reading For Parents

Review by Fred R. Braun, 2007-05-12

I was introduced to this book while attending a financial seminar concerning the transfer of money to children. I read the book and passed it on to my children to use as a guide in bringing up their children. Money should give children an advantage to become happy and productive citizens. The sudden acquisition of money without adequate training in the use of wealth can have disastrous results as witnessed by the numerous sad stories of lottery winners. This book gives parents a guide on how to introduce children into the acquisition and proper use of money at an early age. Following the authors' advice can help parents raise financially responsible children.

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Not for anyone who still works for a living

Review by ReadNReVu, 2005-11-15

You do not *need* to give your children an allowance to teach them how to handle money. Really. The author's position is that you simply have to--and it makes you wonder if she also thinks it is okay to experiment with drugs in order to learn how to use them the "right" way. Just as you can educate children about the dangers of drugs without giving them any, you can also educate children about how to spend money wisely. One way is to take them grocery shopping with you, for example, and let them help you with calculating the best values for the money you have.

Others have said this book is good for those with middle class incomes. I disagree. If there will be any possible future scenario where your child will have to work for a living in any capacity, they need to know that money is NOT just handed to them, and that money belongs to the person who earned it (and the spouse, in community property states), NOT the children. This means that children need to learn that some things you do without compensation as being part of the family (chores), and other things you do in exchange for money (outside jobs or special jobs around the house) or something else (bartering). In real life, money is not just handed to you, unless you're on welfare. Someone has/had to earn that money at some point in time, and just handing money to someone will never educate them as to how to actually earn it.

This book might be okay for someone looking to leave their child a huge trust fund, where he or she just lives off the interest, but not for people trying to help their children truly make their own way in life.

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