The book covers the steps they used to teach their kids about money and finances. One of the things they use is the 5/50/500 rule of life. Each chapter ends with ideas to use the 5/50/500 rule in relation to the topic of the chapter.
There are five stages to the 5/50/500 money rule:
The $5 stage: ages 0 to 5
The $50 stage: ages 6 to 11
The $500 stage: ages 12 to 17
The $5,000 stage: ages 18 to 23
The $50,000 stage: ages 24 and beyond
Some of the other topics covered in the book are saving, spending, giving and sharing. Instead of giving their children allowances they each have a Point System, where they get paid for each point they earned.
The 4 categories of their Point System are:
1) Morning point – They earned a point they had to eat breakfast and get ready without complaining or procrastinating
2) School point – a point was earned for following the instructions they were given from their teachers and parents. It also included doing their homework.
3) Chore point – Each child had some daily age and ability appropriate chores.
4) Round-up point – Round-up time is at the end of the day where the kids and parents round-up all of the items they left out during the day. They earned a point by helping with the round-up.
As with other books, all of the ideas may not work for you but there may be ideas you can use in your family.