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Another delightful entry in this mystery series. Maxwell's characterizations are magnificent, showing people (and dogs, too) as three dimensional individuals with good and bad aspects.
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That experience is a mini-lesson of the sort that Dr. Whitcomb feels that each child should have beginning between ages 10 and 13, depending on the child. Dr. Whitcomb learned the benefits of making money mistakes for himself while he was a boarding student. He was given the money to pay all of his expenses. If he ran out, that was his tough luck! His parents before him had had the same lesson applied in the same way.
Most young people eventually start to have these experiences when they live away from home, whether for boarding school, college, or moving away to take a job in another area. Dr. Whitcomb points out that learning the lessons earlier and on a smaller scale is a good idea.
The book is built around the idea of establishing a budget for something your child needs to pay for, then giving the money to your child, and learning from the school of hard knocks. He has an elaborate set of contracts, ATM account rules, and tracking mechanisms for making this practical. He suggests picking out an approach that works for you and your child. The book has lots of good advice for how to handle the inevitable crash landings.
We did something similar to this with our children, and they soon learned to live on the funds they had . . . or to earn some more. They became ingenious at saving money, and finding better ways to earn it. One child, who had been profligate before it became that child's money, totally turned around. So I think the theory works.
I would advise starting earlier than he suggests here. Children can take on responsibility for buying family presents much younger than was described in the book. And you don't need an ATM account to do it. When the age is reached to buy one's own lunches, that's another opportunity to install this approach . . . with a fixed weekly allowance. Chores can be used to generate income for "extras" and that helps other lessons be learned.
I also suggest starting with investing younger than is indicated here. I started doing that when I was 12 and greatly benefited from that early exposure.
I think you will enjoy the book, although I don't think you will follow it exactly.
The best part for me was in the sections for helping children learn lessons from their experiences.
Where else would advance practice make a good difference? Be sure your child has that practice.
Assume that people can learn by doing better than any other way!
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1. Who is your target audience?
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The Internet makes it possible for almost anyone to generate substantial income IF these three questions are correctly answered and then a creative and aggressive marketing program is implemented, driven by strategies which are guided and informed by Abraham's "timeless principles." Throughout the book, Allen identifies and then examines a multiple of "streams" to consider. He asserts that marketing success online has three "bedrock principles":
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In this one 279 page book he includes just about all of the best and most current Internet marketing advice you need to make millions. Not only did I learn about the inside specifics of how the Internet works with search engines, how to make affiliate programs really work for me, how and why to set up joint ventures and how to advertise. I learned what triggers an automatic buy response, what words to use, what offers to make, when to make the offers, how to take any information idea and make money with it. I use these ideas in my new web marketing business, to create money making affordable web sites for small businesses as well as set up joint ventures with other business leaders. I have Bob to thank for every bit of money I make now, he teaches it all to us. We just have to use what we learn. It's hard not to make money if we are breathing and doing.
Jeremy