Money management is an essential life skill, and instilling it in children from an early age is crucial. Teaching kids about money can be fun and educational with the help of books that make finance concepts accessible and engaging. If you’re a parent looking to teach kids about money, you’re in the right place! In this post, we’ll explore the top ten books that can help your children on their journey to financial literacy.
Contents
- Top 10 Books That Teach Kids About Money
- The Golden Quest: Your Journey to a Rich Life by David Delisle
- The Berenstain Bears' Dollars and Sense by Stan and Jan Berenstain
- Alexander, Who Used to Be Rich Last Sunday by Judith Viorst
- A Chair for My Mother by Vera B. Williams
- The Money We'll Save by Brock Cole
- Lemonade in Winter: A Book About Two Kids Counting Money by Emily Jenkins
- The Lemonade War by Jacqueline Davies
- One Hen: How One Small Loan Made a Big Difference by Katie Smith Milway
- The Richest Man in Town by V.J. Smith
- Finance 101 for Kids: Money Lessons Children Cannot Afford to Miss by Walter Andal
- More Ways To Teach Kids About Money
- Conclusion
Top 10 Books That Teach Kids About Money
The Golden Quest: Your Journey to a Rich Life by David Delisle
Our number one pick is "The Golden Quest" by David Delisle, and for good reason. This book takes young readers on an exciting adventure to discover the secrets of financial success. Through captivating storytelling and relatable characters, it teaches kids the fundamentals of money, savings, and investments. Delisle's book is both entertaining and educational, making it a must-read for any child eager to embark on their financial journey.
The Berenstain Bears' Dollars and Sense by Stan and Jan Berenstain
The Berenstain Bears have been a beloved part of many childhoods, and in this book, they tackle the topic of money. Join Mama and Papa Bear as they teach Brother and Sister Bear about earning, spending, and saving. With its charming illustrations and simple explanations, "Dollars and Sense" is an excellent choice for introducing young children to money concepts.
Alexander, Who Used to Be Rich Last Sunday by Judith Viorst
In this delightful story, Alexander learns an important lesson about money management. After receiving a dollar from his grandparents, he quickly spends it on various treats. Through Alexander's adventures, kids can learn about the consequences of impulsive spending and the value of saving for something special.
A Chair for My Mother by Vera B. Williams
A Chair for My Mother" is a heartwarming story about a family's efforts to save money to buy a comfortable chair. This book beautifully illustrates the concept of setting financial goals and working together as a family to achieve them. It's a touching and relatable tale that teaches the value of patience and saving for a meaningful reward.
The Money We'll Save by Brock Cole
Set in the early 20th century, "The Money We'll Save" tells the story of a family's misadventures after bringing a turkey into their home for Christmas dinner. While the story is full of humor and mishaps, it also provides valuable lessons about budgeting and making wise financial decisions, making it a fun and educational read for kids.
Lemonade in Winter: A Book About Two Kids Counting Money by Emily Jenkins
"Lemonade in Winter" combines two important skills for children: math and money management. This book follows Pauline and her brother John-John as they attempt to sell lemonade on a cold winter day. Kids will learn about counting money, expenses, and profit in a playful and engaging way.
The Lemonade War by Jacqueline Davies
This chapter book is perfect for slightly older children. Siblings Evan and Jessie enter into a business competition, each running their own lemonade stand. As they compete, they learn valuable lessons about competition, cooperation, and the basics of running a small business. "The Lemonade War" is not only entertaining but also an excellent introduction to entrepreneurship.
One Hen: How One Small Loan Made a Big Difference by Katie Smith Milway
"One Hen" is a true story about Kojo, a young boy from Ghana, who uses a small loan to start a chicken farm. Through his journey, children learn about the power of entrepreneurship, savings, and the positive impact small actions can have on a person's life and community.
The Richest Man in Town by V.J. Smith
While this book is aimed at older children and teenagers, it's a powerful read for imparting financial wisdom. It tells the story of Marty, a man who was not the wealthiest in material possessions but the richest in the kindness and wisdom he shared. It teaches kids that true wealth goes beyond money and emphasizes the importance of character, values, and giving back.
Finance 101 for Kids: Money Lessons Children Cannot Afford to Miss by Walter Andal
"Finance 101 for Kids" is an excellent resource for parents looking to teach their children the basics of finance. It covers a wide range of money-related topics in an easy-to-understand manner, from earning and saving to investing and budgeting. With practical tips and interactive exercises, this book empowers kids to take control of their financial future.
More Ways To Teach Kids About Money
Teaching kids about money involves more than just reading books. Here are some additional ways to help your children develop financial literacy:
- Hands-On Experience: Give your child an allowance or help them earn money through chores or a part-time job. This practical experience will teach them about earning, saving, and budgeting. Encourage them to set aside a portion of their money for savings and charity.
- Use Real Money: When teaching young children about money, use real coins and bills whenever possible. Let them count and handle money to understand its value physically.
- Savings Jars: Provide three separate jars or piggy banks for your child: one for spending, one for saving, and one for giving. This simple division helps children allocate their money responsibly.
- Grocery Shopping: Involve your child in grocery shopping and show them how to compare prices, use coupons, and make wise purchasing decisions. This practical exercise can instill the importance of budgeting.
- Open a Bank Account: As your child gets older, consider opening a bank account in their name. Teach them how to deposit and withdraw money and how to read bank statements.
- Online Tools and Apps: Many online tools and personal finance apps are designed to teach kids about money. Apps like “PiggyBot” and “iAllowance” allow children to track their allowances, set goals, and learn about saving.
- Board Games: Board games like Monopoly, The Game of Life, and Money Bags are not only fun but also teach valuable financial lessons. They introduce concepts such as budgeting, investing, and strategic decision-making.
- Financial Discussions: Have age-appropriate discussions about money at home. Talk about your family’s budget, expenses, and financial goals. Encourage questions and provide clear explanations.
- Investing Education: As your child matures, introduce them to the concept of investing. Explain how investments can grow over time and the potential benefits of stocks, bonds, and other investment vehicles.
- Charitable Giving: Encourage your child to donate a portion of their allowance or earnings to a cause they care about. This teaches them the importance of giving back and supporting their community.
- Role Modeling: Be a good financial role model for your children. Practice responsible financial habits, such as budgeting, saving, and avoiding impulse purchases, so they can learn from your example.
- Field Trips: Visit a local bank or financial institution with your child to help demystify the banking process. Many banks offer educational programs for kids.
- Financial Literacy Workshops: Look for financial literacy workshops or programs in your community or online that are tailored to kids. These programs often cover age-appropriate financial topics.
- Set Goals: Encourage your child to set financial goals, whether it’s saving for a new toy, a bike, or college. Help them create a plan to achieve these goals, emphasizing the importance of patience and discipline.
- Money-themed Projects: Engage your child in money-themed projects, such as a lemonade stand, yard sale, or fundraising event. These activities can provide practical lessons in earning and managing money.
Remember that financial education is an ongoing process. As your child grows, you can gradually introduce more complex financial concepts and responsibilities. By incorporating these hands-on experiences and discussions into their upbringing, you’ll help your children become financially literate and confident in managing their money.
Conclusion
Teaching children about money is a vital step in preparing them for a successful and responsible future. These ten books offer a diverse range of stories and lessons that can make the learning process enjoyable and relatable. Whether you’re starting with a picture book or diving into more complex financial concepts, these resources will help your child build a strong foundation in financial literacy. Happy reading, and here’s to a financially savvy future for your children!
