Thursday, January 08, 2009

Chico author presenting free workshop on teaching kids about money


Chicoan Kristan Leatherman is the co-author, with Jim Fay, of "Millionaire Babies or Bankrupt Brats?" ($24.95 in paperback from Love and Logic Press, Inc.). Fay is co-founder of the Love and Logic Institute ( Leatherman, a counselor, educator and facilitator, has taken the "love and logic" principles and applied them to the financial arena. The goal is to raise responsible children. "Love," the authors write, "allows kids the latitude to learn from their mistakes. Logic allows kids the latitude to learn from the consequence of those mistakes."

The book is available at or through the co-author at

Leatherman will be presenting a free mini-workshop called "Raise Money-Smart Kids! Learn 3 Practical Ways to Get Started" on Thursday, January 15 at 7:00 PM at the Chico Christian School Multipurpose Room 401, 2801 Notre Dame Blvd. in Chico.

There are only two rules of "love and logic." In the first, "adults set limits without anger, lectures, threats, or repeated warnings." In the second, "When children cause problems, for us or anyone else, adults hand the problem back to the child in loving ways. We hand the problem back by replacing anger and lectures with a strong dose of empathy, followed by a logical consequence or by requiring the child to solve the problem he or she has caused."

The first part of the book is devoted to spelling out the principles of "love and logic" by teaching personal responsibility in the handling of money. The second part, "Raising Fiscally Fit Kids," builds on the first and examines spending, saving, borrowing, earning, investing, and sharing.

The book is replete with everyday examples of parent-child interactions and offers a wealth of sometimes surprising suggestions for handling money challenges.

Allowance, the authors suggest, is really about helping children spend money and shouldn't be given as payment for chores; chores, in fact, are renamed "contributions" and shouldn't be compensated if they're part of the daily family upkeep. If a kid flakes on cleaning his or her room, and mom has to do it, the child will receive a bill in the next allowance envelope. Think "consequence."

The bottom line? One day, when parents must rely on their children for care, those good fiscal habits will be invaluable.

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