Wise parents instill good money habits in their kids. Teaching children about financial trends and ideas gives them a positive money mindset in the future.
You may already use books to teach your children the alphabet, manners and the animal kingdom. Books about money familiarize children with basic concepts so their matured minds can spot financial trends and ideas. Start with these five best books for all ages.
The Berenstain Bears’ Trouble With Money, Stan and Jan Berenstain
New and young readers will enjoy this tale of the Berenstain Brother and Sister Bears’ tries to save to buy a video game. These classic characters make fun and friendly examples of how saving money is difficult but it pays off. Help children think of inventive ideas to collect money for what they want.
How to Turn $100 into $1,000: Earn, Save, Invest! by James McKenna, Jeannine Glista and Matt Fontaine
Appreciating money is a cornerstone of sound financial planning. Help your elementary and middle school student learn to appreciate money with this informative workbook-style guide. This book givens them an introduction to financial decision-making and planning.
Blue Chip Kids: What Every Child (and Parent) Should Know About Money, Investing, and the Stock Market by David Bianchi
A diverse financial portfolio is essential. Geared for a junior high audience, this book covers 100 fundamental financial topics to train your children to stay on the pulse of financial trends when they get older. Some topics include: checking and savings accounts, credit and debit cards, and mutual funds and bonds.
Go! Stock! Go!: A Stock Market Guide for Enterprising Children and their Curious Parents by Bennett Zimmerman
Teach your children about the stock market and brush up on your own skills at the same time. Make it a family project to follow the stock market in real life. Exposure to concepts like rising and falling stocks will acclimate your children to taking risks on trends and ideas later on.
Rich Dad, Poor Dad by Robert T. Kiyosaki
Your financial savvy and wealth mindset will not matter for your children later if you do not know how to share it with them. This classic guide teaches you to teach your children where their household’s benefits and materials really come from. You will understand how to communicate with your children about being rich as a human right, not a difficult challenge.
Books are interactive play you can do with your child. Even when you are not looking, they might be reading these books alone and sharpening their financial skills. Just by looking at the money, illustrations and terms in these books, they will see financial trends and ideas are enjoyable parts of life to have fun with.
David Milberg is a financial analyst from New York City.