She's been called the Tiger Mom of financial education for her straight-talking on money to her kids.
Sarah Cook, who runs the Raising CEOKids website, says we shouldn't be coddling our kids -- instead, we should give them the financial tools to deal with life.
Her website says it "aims to be the definitive source for all you need to know to raise smart, savvy, successful, young entrepreneurs who thrive in business and in all areas of their life." It includes headlines such as: Turn Your Parent's Computer Into a Cash Machine! and interviews with children who came up with business ideas, such as Alanna Meyes, creator of Taking Off, a pain-free bandage remover.
Her philosophy means that the Cook household has a fixed family budget and her kids are encouraged to develop their own income streams. There's also a system of tradeoffs where, if the kids have their hearts set on buying something, they have to cut back elsewhere.
Her 14-year-old son has already run a business selling Pokemon cards on eBay and fixes computers for $20 to $30 an hour. Her 10-year-old daughter makes blankets for Haiti, cards for the lonely, custom tiles for schools, and also works as a "mother's helper."
As with the original Tiger Mom, Ms. Cook's philosophy has sparked controversy among parents.
One wrote: "Her kids will definitely have financial savy - selling on eBay is a great idea; but I think my kids who have never watched TV, are good athletes and team captains and my 12-year-old who got a 1450 on her first practice-SAT are more likely to be CEOs than children who waste time watching Hulu, cooking a meal, or playing Pokemon."
Another wrote: "The average CEO suffers from extreme stress and health problems. Why do parents wish this on their kids?"
And a third said: "I measure success by happiness and peace of mind. Your kids might be getting a 1450 or higher, but they are probably extremely stressed out and grade-trapped. Actually ask if your kids are happy. Being a team captain or getting on the dean's list is just a shallow way at measuring success. They only get to be a child once."Report Typo/Error