Asset or Liability? The Raising Rich Kids Workbook

This workbook is for parents who weren't taught about money and don't want to hand their kids the same blank slate. You may have been told to keep money talk away from children, or to give an allowance and call it a lesson. Maybe you got a credit card at 18 and learned about interest the expensive way. You know there's a better way, but you aren't sure what to say at the dinner table on Tuesday night. Inside are eight short exercises. Each one gives you a prompt to answer, an explanation of why it matters, an example answer you can borrow from, and the common mistakes to avoid. You will build a simple asset-versus-liability game for your kids. You will set up a save, invest, spend split for any money they receive. You will plan a family money meeting, write your own house money rules, and map out when to add a teen to credit as an authorized user. You will also set up a way to let kids make small mistakes safely. By the end you will have a written plan that fits your family, not a generic script. The approach comes from Zasha Smith, who had her daughter at 20, started with little money knowledge, and went from $100k in debt to multi-millionaire in three years through real estate. She took her kids to property viewings, to the bank, and to the rentals. Her daughter made her first $10,000 investment at 19. Her 11-year-old can explain assets and liabilities and saves $5 a week for something he wants. Zasha's belief is that kids learn by watching you do it and by being guided through the next step. These exercises turn that belief into a plan you can start today.