Lifetime Book Club: Barefoot Kids by Scott Pape

Welcome to the Lifetime Book Club! This month, we’re shifting gears with a fantastic read for the whole family – Barefoot Kids by Scott Pape. If you’re looking to teach your children about money in a way that’s fun, practical, and empowering, this book is a must-have.

Why We Love It:

Barefoot Kids takes Scott Pape’s signature no-nonsense financial wisdom and adapts it for the next generation. It’s filled with engaging stories, hands-on activities, and simple lessons to help kids understand how money works – and more importantly, how to manage it well. We love this book because it sets kids up with lifelong skills, and let’s be honest, we could all have used some of these lessons a little earlier in life!

Key Takeaways:

1. Earning Money: One of the first things Pape teaches is that money doesn’t just appear – you have to earn it. He encourages kids to get creative and proactive about finding ways to make their own money. It’s a great foundation for kids to learn the value of hard work and initiative, something we champion at Lifetime in building long-term financial independence.

2. The 'Jam Jars' System: Just like in The Barefoot Investor, Pape introduces a simple money management system, this time for kids – the Jam Jars. It’s all about splitting money into three key areas: Give, Spend, and Save. We think it’s a brilliant and easy-to-understand tool that teaches children the basics of budgeting and setting financial priorities.

3. Making Saving Fun: Pape helps kids see saving as something rewarding rather than restrictive. He’s packed the book with fun challenges and goals, which motivates kids to take control of their own savings. Encouraging a healthy relationship with money early on sets them up for a lifetime of good habits.

4. Giving Back: One of the most heartwarming aspects of Barefoot Kids is the emphasis on generosity. Pape encourages children to use part of their money to help others. It’s a wonderful reminder that financial success is not just about what you get but also about how you give, which aligns perfectly with our values at Lifetime.

Why You Should Read It (and Share It with Your Kids):

Barefoot Kids is packed with practical advice that’s easy for kids to understand and apply. It’s not just about money; it’s about life skills like responsibility, generosity, and independence. If you’re keen to start your children on the right financial path, this book is a fun and effective way to do it.

Win a Copy:

To help the young ones in your life start their financial journey, we’re giving away a copy of Barefoot Kids to one lucky Lifetime client! Click here to enter.

Here’s to teaching the next generation the value of money, together!