Financial IQ Test for Parents is based on the resources indicated below.
Resources are split in 3 parts :
- Financial beliefs
- Financial habits
- Personal habits
1. Financial beliefs
The Road To Financial Freedom – Earn Your First Million in Seven Years: What Rich People Do and Poor People Do Not to Become Rich
By Bodo Schafer
Want to change your financial beliefs? Start with this book.
It lists most common erroneous financial beliefs and provides clear guidance how to change them.
The hardest part of the change is to identify which financial beliefs are holding you back. Chances are you are not aware of all of them. This book will help to increase your awareness.
Rich Kid Smart Kid: Giving Your Child a Financial Head Start
By Robert T. Kiyosaki
Are you an entrepreneur or an investor yourself? If yes, it is very likely that you would enjoy this book.
This book is full of financial wisdom which you could pass to your kids. For example, “You do not get rich at work, you get rich at home”. Or “Many people are poor because they learn to become poor”.
2. Financial habits
The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money.
By Ron Lieber
An excellent book full of ideas and examples how to use money to teach kids thrift, perseverance, generosity and other important things in life.
I started using some of the ideas immediately with my kids – just to check how it works. I encourage you to try them as well!
- Beth Kobliner, financial journalist, best-selling author provides examples how to talk to your kid about various money topics. I love the conversation tool where you can choose whom to and what about you would like to talk.
- Investopedia – full of valuable information for teaching kids of different ages.
- Money mammals TV – videos about allowance, saving and sharing! Both, for parents and for kids!
3. Personal habits
Rich Kids: How to Raise Our Children to be Happy and Successful in Life
By Tom Corley
If you want to teach your kids to be free, knowledge about personal finance is not enough. It is extremely important to seed the right habits.
This book shows the right habits in an easy to read way which could also be interesting for teens or young adults.
- Rich Habits Institute – Tom Corley interviewed 233 wealthy and 128 poor people over 3 years and made a list of habits that will make you rich.