Security National: Children’s Books on Money Tested by Kids and Approved by Bankers
Financial literacy is always a priority for us, and we bet it is for most parents too.
However, a study by the Financial Industry Regulatory Authority found that discuss money brings anxiety to about 53 percent of adults. The good news is that it doesn’t have to be stressful for you and your family. In fact, teaching about money management and the building blocks of personal finance can start in infancy – and it can even be fun!
How to teach kids about money
There are several resources to facilitate discussions about money. One of our favorites is books – especially children’s books about money that meet young people where they are at in their development. Learning about money allows your children to be financially successful throughout their lives, and reading to them is also a great family bonding experience.
The 10 Best Financial Literacy Books for Kids
We recommend these 10 pounds of money for kids, categorized by age – from toddlers to teens.
1) Moneybunny book series
Age: 3 to 5
On: Four books follow four different bunnies (Bun, Honey, Sonny, and Chummy) as they learn the basics of money. Bun learns to work towards his goals in Win it!, Honey learns patience and perseverance in Save it!, Sonny learns to make responsible choices by Spend it! and Chummy learns the value of helping others with money in Give the!
Amazon Customer Review: “This series of books was very well received by my granddaughter, and she wasn’t satisfied until I bought the whole series. Each of the books explains the facts about money easily and in a way that children can understand and be entertained at the same time.”
2) The Berenstain Bears Money Problems
Age: 3 to 7
On: Doesn’t money grow on trees? Brother and Sister Berenstain are about to find out! Under the guidance of mom and dad, the Cubs start their own business – including a lemonade stand and a pet walking service – while learning the basics of how money works and how it influences your choices.
Amazon Customer Review: “This book uses a cute approach to teaching overspending, saving, earning, etc. It’s a great resource for teaching kids the basics of economics. My four-year-old son thinks it is also fun.”
3) Financial Peace Jr.
Age: 3 to 11
On: Influential financial guru Dave Ramsey puts a new spin on his financial peace methodology to help parents raise “money smart kids”. The comprehensive toolkit includes a parent’s guide, activity book, kick-off chart, chore chart, “save and spend” envelopes, and a free ebook for ongoing learning.
Amazon Customer Review: “My daughter loves the kit. She is 11 and was so excited when she got to customize her commission board. We’ve had the kit for over a month and she managed to save $70.”
4) The Money Book of Everything for Kids
Age: 7 to 12
On: This completefinancial guide for kids covers almost everything a child needs to know about money: how it is earned, what it can buy, how credit cards work, making money grow through savings and stocks, services online banking, financial technology, etc.
Amazon Customer Review: “My 7 and 10 year old nieces are small business owners and they make and sell bracelets!! They love the book!!”
5) Investing for Kids: How to Save, Invest and Grow Your Money
Age: 8 to 12
On: Currently Amazon’s best-selling children’s book on money, Investing for children translates the practice of creating wealth for younger minds. Content on hands-on investing, digital trading, portfolio diversification, stocks and bonds aims to give kids a “boost” on financial basics.
Amazon Customer Review:“I bought this for my 10 year old granddaughter. She read about half of it in a few days and loves it. She shared some of her favorite parts including stories of successful people and start -ups and a quote from A. Einstein on compound interest.”
6) Finance 101 for Kids: Money Lessons Kids Can’t Afford to Miss
Age: 8 to 12
On: Author Walter Andal helps young readers establish a healthy relationship with money for the rest of their lives. This book (the first of two, with the follow-up titled “Finance 102 for Kids: Practical Money Lessons Children Cannot Afford to Miss”) provides a breakdown of saving and investing, how to manage credit, how the stock market works, how the economy affects personal finances and giving back to the community, among other topics.
Amazon Customer Review: “My 10 year old and I read this book together. We read one chapter a day and had great conversations about them. He really enjoyed the book and looked forward to each day.”
7) Kid Start-Up: How YOU can become an entrepreneur
Age: 9 to 12
On: Successful entrepreneur Mark Cuban teaches kids how to start their own business in a “kid-friendly” way. With real-world expertise and startup profiles created by real kids, this teaching manual promises to help kids turn their business ideas into reality.
Amazon Customer Review: “As a primary school teacher, this book is a MUST! In addition to teaching reading, writing and arithmetic, we are responsible for teaching 21st century skills: creativity, courage, collaboration, etc. This book does just that!
8) How to turn $100 into $1,000,000: Win! To safeguard! Invest!
Age: 10 to 14
On: This entertainment and informative book shows kids how to practice a few simple strategies to become “a genuine financial whiz.” It teaches kids essential lessons about getting their first job, saving to become a millionaire, and growing their money through compound interest.
Amazon Customer Review: “This book really explains why it’s important to start saving and ideas on how to start investing. This book is great for all ages and the graphics are fantastic. It really grabs my attention and really has a lot of fun tips and super helpful.”
9) Rich dad poor dad for teens
Age: Teens and more
On: Adapted from the international bestseller “Rich Dad Poor Dad”, this book applies the same principles of Robert T. Kiyosaki (such as speaking the language of money and playing games to understand money) to teenagers. The text features “straight talk” and interactive quizzes as it provides steps to financial freedom.
Amazon Customer Review: “I bought the book and read it over the weekend. I found it easy to read with digestible and concise concepts that teenagers will understand.”
10) How to Grow Up: Personal Finance for the Real World
Age: Teens and more
On: Aimed at teens and young adults, Jake Cousineau balances anecdotes and examples with simple explanations and practical tools for all things personal finance. Topics include building wealth, preventing financial faux pas, budgeting and saving, investing, taxes, insurance, and how to prepare for big expenses.
Amazon Customer Review: “I give the author credit for explaining some very complex terms in an easily understandable and entertaining format. I think the complexity of finance scares a lot of people, and I was definitely one of them. “
Want to know more about finance?
Take our free crash course on Family conversations about moneyoffered as part of our interactive financial learning center.
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