As promised during the book review,  Dr. Thomas William Dean has generously offered to give away 5 copies of his popular book: Every Faimly's Business: A Blueprint for Protecting Family Business Wealth.

Here is a snippet of the review:

Here is some food for thought, did you know that only 1/3rd of ALL family business survives to the next generation?  On top of that, only 10% of the 1/3rd make it to the third generation?  Could family business succession be that poorly handled? That's what this book has to offer.  It discusses the main issues with family business succession and the plan to take to ensure that the transfer of wealth is achievable.

How to enter:

  • Leave a comment about your family views on money while you were growing up. (+1 entry)
  • New and existing email subscribers will automatically get an extra entry on draw date.  Note that only verified subscribers count. (+1 entry)
  • 1 copy will be given to the top commentator of April 2008.

The Rules:

  • 4 copies will be drawn at random from available entries.  You can have a maximum of 2 entries.
  • 1 copy will be given to the top commentator of April 2008 (standings in the right sidebar)
  • Please only 1 comment entry / person (please enter a valid email address).
  • Publisher will ship anywhere in the world for free.  So everyone is welcome to participate.


  • Contest for the first 4 copies will end April 11, 2008 Friday 5pm EST .
  • Top commentator of April 2008 will be determined at the end of April.

Good luck!

If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).


  1. Bunny B on April 3, 2008 at 9:13 am

    When I was growing up, my parents taught us not to spend much and save. This was because at the time, I had many bros and sisters and my father was still doing his post-grad.

  2. Four Pillars on April 3, 2008 at 9:31 am

    Sounds like a good book.


  3. Middle Class Millionaire on April 3, 2008 at 10:12 am

    My family’s views growing up…avoid credit like the plague. If you want it buy it, but use cash.

  4. Ramona on April 3, 2008 at 11:07 am

    My mom & dad never talked about money – to this day, they still don’t. And not because it was ever plentiful. Everything I learned was through my own experiences. As a result, I make sure I teach my son about everything I know. He was just with us as we negotiated the purchase of a new vehicle to see how it was done. That sort of experience is invaluable. Our next book to read together is The Wealthy Barber. I figure that is a good choice to stimulate a respect for money and instill a life-long saving passion. Incidently he is 14, almost 15.

  5. Joel on April 3, 2008 at 11:22 am

    When I was growing up, money was a constant source of stress. I grew up on a farm so it wasn’t paycheck to paycheck but harvest to harvest. This shaped my perspective on money in that I tend to invest very conservatively rather than risking and hoping for a bumper crop to come in.

  6. Titus on April 3, 2008 at 11:43 am

    I grew up viewing money as “remember to save your money”, to put a portion of my paycheck away, and to properly budget. I was told to save money for my future downpayment for my first house.

  7. Dividendgrowth on April 3, 2008 at 11:53 am

    When I was growing up my parents taught me to not spend money on stuff simply because other kids/people had it. They also proved to be pretty good at wealth preservation during high inflationary times in my country in the 1990’s when intereset rates rose as high as 300% annually. To most people investing in bank deposits looked like a great way to make money. But not to my parents. They took a loan to buy their apartment and some real-estate and invested the rest in foreign currency. They have done pretty well since then.
    My parents also wrote down their monthly expenses every month. They also saved and invested wisely. Last but not least they understood that money is not everything in life, so they tried very hard to give their children a better life by investing in their education.

  8. Joshua on April 3, 2008 at 12:04 pm

    I grew up in the worst neighborhoods and even lived in the Salvation Army for awhile with my Brother and Mother. We were very poor and the only thing my Mom taught me about money was to dream about it. That is, to talk about having a huge mansion, nice cards, and a pool but she never taught me how to actually earn it.

    However, I’ve been reading financial blogs, watching financial videos, listening and watching CNBC, reading books, and doing everything I can since to make my life better. I’m even trying to teach my 7 year old and 5 year old to be entrepreneurs NOW so they’ll have a great start for their future. I would love a book like this to help me and my family go that extra mile and learn even more about family wealth. Most important though, like Suze say’s, is.. People first (FAMILY!!!), then money, then things. Thanks for this opportunity!

  9. MikeG on April 3, 2008 at 12:11 pm

    I remember money being tight cause my mom was a single mom. She always had enough, except for the things that catch you offguard, then we’d be broke for a little bit. Irrespective of how broke we were, she put money into her RRSPs (I agree with the pay yourself 1st, but I think it went to RRSPs because her “Financial Advisor” was a really a mutual fund salesman.)

    I remember being totally distraught once because I came to the realization that we had alot less financial resources than my peers (one of my friends parents were multimillionaires, they treated me very well, I still respect them). I cried to my mom, “We’re poor aren’ we!?!” lol how little did I know.. To this day I think I’m the most frugal person I know. (By this I mean that I try to rationalize any spending through cost-benefit analysis, and focus on need, not wants).

    Anywho, Free book for me?


  10. Jenny on April 3, 2008 at 12:32 pm

    This book will be very intereting to read seeing as I am self-employed, and although I don’t have a family right now, it will be something that could be an issue down the road.
    For me growing up, money was something that we had, but it was only something to be spent when necessary. The rest of the money was to be saved, but only in the most conservative of methods. There was also a lot of guilt about spending money on anything that might be considered a luxury.

  11. HB on April 3, 2008 at 2:44 pm

    Same situation. Parents never discussed money too much.

  12. Rob on April 3, 2008 at 3:07 pm

    I look forward to reading this book. Sociologically it sounds important. I can’t help thinking however, that the more people there are who get savvy with their own and their families finances, the less value money has. For every rich person there needs to be a hundred poor ones. It is a law of nature.

  13. JCR on April 3, 2008 at 4:33 pm

    I grew up in a single-income, upper middle-class household. My siblings and I were raised to be conscious of our spending decisions and to work hard and stay out of debt. We never had the newest gadgets or the most stylish clothes, but we were never deprived either. My dad has always been a self-directed investor and all my parents’ spare money went into investments, but he never really discussed his investments with us. Even now, most of my money knowledge has been from my own research, although my dad has started giving me bits and pieces of investment advice here and there. It’s pretty conservative stuff – buy blue chip stocks and bonds, pay off all your mortage as quickly as possible, etc. I’m a little more open-minded to things like emerging markets, the SM, leveraged investing, etc., although I’m not a risk taker. The risk has to be worth the reward and it can’t put my family’s financial health on the line.

  14. FocusLiberty on April 3, 2008 at 5:23 pm

    As I was growing up (and still am), my family always thought money was scarce and always had to save. I was told that we don’t have money to throw around and people are out there to steal it from you. I hated that and always asked myself if we earned it shouldn’t we need to spend it, have some fun, enjoy life and quit living in fear? Consequently I was taught how to earn money only because that is what my parents know. Today I earn and make money (there is a difference). I view money as what it can do for me and my family as opposed to what it can provide. But I thank my parents for one important thing and that’s money is not the most important thing to life.

  15. newinvestor23 on April 3, 2008 at 5:40 pm

    Family views growing up:
    Pay down debt as much and as fast as possible while maintaining a healthy lifestyle of spending/saving/debt reduction
    Was given a copy of Wealthy Barber to read at a young age

  16. Geoff on April 3, 2008 at 6:14 pm

    Money in my family was: my dad made it and my mom tried to pry it from his hands to buy necessities for the home and for us kids.

    I always sided with my mom on money matters because it felt like dad was being too stingy. But honestly, I can see his point now. He was the one who was on the hook to ultimately pay the bills. It was heartache enough that he could not afford everything he wanted to give us, it would be worse if we over-extended ourselves and he’d be force to work crazier hours and more spend time away from his family.

    If my parents were living in the previous generation it wouldn’t have been so bad – but with other families spending so much on their kids, when I was growing up: that put a lot of pressure on them to spend more on us. Myself I feel blessed with my upbringing. I am glad I didn’t have the latest stuff.

    I think they did well enough. I just wish money didn’t run their life the way I fear it must have based on stories and anecdotes.

    I think unlearned all of what they taught me re: debt/credit – but I’m making up for lost time. Its amazing what a mortgage will do to refocus you … :)

  17. Dividends4Life on April 3, 2008 at 8:20 pm

    When I turned 13 my parents told me they would provide food, shelter and necessary clothing; anything else I wanted was up to me. It seemed harsh at the time, but it taught me to be independent and self-reliant. It gave me the confidence I needed to achieve and excel in life.

    Best Wishes,

  18. Mai on April 3, 2008 at 8:56 pm

    When I was growing up, money was very scarce. My father was a workaholic and he has always been traveling away for a bigger paycheck. As far as I remember, I met him for the first time when I was nine in a forein country where he was running his own business. He always told me that money is the most important thing in life and I need to do everything to make sure I’ll never miss it, etc. Now that he is nearing retirement, his priorities changed completely, but it is too late to change me though. I got hooked early on and I love personal finance & investing. There is nothing that I enjoy more than planning and working towards my financial freedom :) However, I would not abandon my family for such a long time in order to reach that goal faster.


  19. Chad on April 4, 2008 at 2:16 am

    My greatest learning growing up was in the supermarket. My family did not have any excess money to waste which meant that every dollar had to be spent wisely. I always went to the supermarket with my mother, the mission was to take advantage of the flyer specials. My mother taught me a a very young age the importance of money by letting me locate the items on sale. The reward was that if I could save us money and show her the savings I would be rewarded with the difference. This simple teaching has stayed with me today in my everyday shopping.

  20. Kacper on April 4, 2008 at 6:12 am

    When I was a child, my father opened his own bussiness. It was going really good. So, my parents were telling me to work on my own and for a success I need a good education.

    So far, I followed this advice in 50%. Recently I’ve graduated, but I’m working at a regular job right now. But in future I will go freelance mode:)

  21. […] we start, we are currently giving away 5 copies of the book Every Family's Business.  If you haven't entered already (open to everyone), you can find the rules and enter […]

  22. Scott on April 4, 2008 at 9:36 am

    My parents taught me to save at an early age. They were also diligent about paying off their mortgage doing so in only 9 years after moving into their current house. I fell into bad spending habits around the time I went to university racking up a small amount of credit card debt, but a few years ago I returned to the lessons they taught me at an early age and started getting my finances back in order.

  23. ABCSTOCKS on April 4, 2008 at 10:49 am

    My parents taught us that never spend beyond your limits,always buy with cash, save a little first from every pay check, pay mortgage, invest steadily in retirement funds for long term.

  24. Vandergrift on April 4, 2008 at 11:07 am

    Money was never really talked about when I was growing up, though my father would try to teach me things like the benefit of compounding, rule of 72 etc, but he didn’t really know them that well. I never knew how much my parents made, or if we were in financial trouble until well after the fact.
    It wasn’t until I was older (highschool and throughout university) that my father started giving me books to read like the wealthy barber, and rich dad poor dad, which have now picqued my interests.

  25. Marianne O. on April 4, 2008 at 11:13 am

    Of all the financial lessons my parents taught me, I think the most important has been the difference between wants and needs.

    Despite the fact that my mom quit working when they adopted me and my brother, and my dad had only a moderate income as a high-school teacher, they’re in great financial shape today. That’s because they’ve been very careful about limiting their spending on non-essentials.

    When I was in elementary and high school (up to the early 90s) we had horribly ugly wallpaper, and no VCR or cable TV. As you can guess, there were no “cool” brand name clothes or shoes for us either. But we did have plenty of basic clothes, aerial TV and lots of healthy home-cooked food. Eventually my parents did get a VCR, cable service and new wallpaper — but only when they felt there was room for them in the family budget. At the time the wait seemed like forever. Today, I’m thankful for the ability to appreciate what I’ve got, and wait for what I want.

    I actually broke up with a long-time boyfriend because of differences in lifestyle expectations, which included his desire to have top-of-the line electronics equipment, car, etc., vs. my desire to live frugally. So it seems that Mom and Dad’s lessons are pretty deeply ingrained.

  26. This and That on April 4, 2008 at 11:16 am

    […] Million Dollar Journey reviewed Every Family’s Business and is giving away copies of the book. […]

  27. mfleming on April 4, 2008 at 11:25 am

    Sounds like it would be interesting reading.

  28. Cannon_fodder on April 4, 2008 at 11:30 am

    One of the best lessons my dad taught me about money forced me to recognize the difference between “needs” and “wants”.

    If I wanted something, say a new bike or the socially accepted brand of jeans, my dad would do 1 of 2 things – he would either tell me he would be willing to pay for half and I would have to put in the other half, or he would find out how much a decent quality item would cost and tell me if I wanted to ‘upgrade’ to the ‘in’ brand that I would have to make up the difference.

  29. Christine on April 4, 2008 at 12:44 pm

    My mother and father had slightly differing opinions about money. Both are very financially savvy and passed that on to us, but my mom is a bit more overprotective and cautious. My father, on the other hand, intends to die broke and is a bit more relaxed about financial affairs. My mother always burdened me with her financial paranoia, and as a result I think I worry about it much more than I need to!

  30. ryan on April 4, 2008 at 2:09 pm

    my father owns a small manufacturer (which i also work at).

    growing up my mother never discussed finances. my father broke down everything into how much it cost per month, or how much it was costing you from your future self etc. watching a business/business owner my whole life obviously drove me to a business degree at college.

    the life advice didnt really kick in until about 25, but it has rocketed me in the right direction since then.

  31. Mike on April 4, 2008 at 3:23 pm

    I was raised mostly by my Grandparents.

    Since they grew up during the war, they were EXTREMELY tight with money, and hated wasting things like food. Can’t tell you how many times I tried getting them to buy me something and they’d not give in.

    They also encouraged me to learn about investing and the value of saving. I remember going to the bank with my grandpa and buying my first bond as a young teen.

  32. walk0080 on April 4, 2008 at 4:38 pm

    Well my family is probably half and half: Some say save and buy with cash, others say buy with credit. My opinion is that whenever possible, use cash unless it is a very large expense that can also be used as an investment, e.g. a home or education.

  33. Sarlock on April 5, 2008 at 3:44 am

    My family was devestated in the early 1980’s real estate crash… we went from being a comfortable middle class family to having to go to the food bank for Christmas dinner in 1982. My parents taught me a lot about money, through the various businesses they owned over the years, but the impact of that financial destruction still impacts all of our decisions 25 years later. This is why my wife and I (her family was equally impacted in the early 80’s) bought a home at a 15% mortgage payment/income ratio when the banks kept trying to sell us on how high a mortgage we could take out.

  34. Jordan on April 5, 2008 at 2:24 pm

    While growing up at my house, my mother was a homemaker and my father worked for the local utility company. It seems that everything my parents did was to save where possible(like clipping coupons, shopping sales, etc.) to allow us to live a comfortable, leisure filled life. I didn’t really appreciate it until now that I live on my own with my fiance, where I see that getting by on our income is tough enough without three kids eating you out of house and home. I can’t thank them enough for teaching me the value of compounding interest and living below my means.

  35. […] Book Giveaway: Every Family’s Business at Million Dollar Journey. Like this article?  Subscribe in a reader […]

  36. paulette on April 7, 2008 at 12:26 am

    I agree with that. Sometimes management style of the founding member of the family business is much strong compared to those of the successors.

  37. […] – Million Dollar Journey is giving away the book Every Family’s Business. […]

  38. […] – Million Dollar Journey is giving away the book Every Family’s Business. […]

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