If you want to start teaching your children about money management and being responsible with their allowance but are not sure how to go about doing it, perhaps these books can help. From reading stories about saving and spending, to practical guides for kids on fiscal matters, these publications can help both kids as well as mom and dad figure out money talk.
1. The Berenstain Bears’ Trouble With Money
Brother and Sister learn that they can get money by working for it once their gift coffers run out. However, when they go to far in terms of what they’re willing to do for some extra money, it’s time to teach the cubs that money isn’t everything.
2. A Chair For My Mother
After all their belongings were destroyed in a fire, neighbours helped rebuild the home of Rosa, Mama and Grandma with whatever they could contribute. However, they weren’t able to replace their big, comfortable chair. So Rosa, Mama and Grandma saved all the money they can in a jar until they could buy the rose-covered chair they longed for.
3. A Smart Girl’s Guide: Money
This book not teaches girls about saving money, but the smart way to spend it. It’s tailored for different types of money personalities, with tips on making money, managing finances, how to budget, and getting the most out of any money spent. A great guide for tween girls.
4. The Motley Fool Investment Guide for Teens: 8 Steps to Having More Money Than Your Parents Ever Dreamed Of
One for the teens, this book explains why it’s beneficial to save and wait before spending, even when you start with small amounts of money. It’s not all downers for the young ones, though, as the authors guide readers on saving and investing money while still allowing a budget for having fun. Start your teens on the path to financial freedom with the Motley Fool’s guide.
5. The Young Entrepreneur’s Guide to Starting A Business
Have an offspring with that entrepreneurial streak? teach them how to turn their ideas into a business with this book. It covers the basics including business plans and sales strategies and marketing, to tips on growing the business and eventually hiring staff. It also includes information on IPOs, so you know they mean business!
6. Make Your Kid A Money Genius (Even If You’re Not): A Parents’ Guide for Kids 3 to 23
If you’re starting ’em young, then, honestly, it needs to start with you. Teach kids as young as 3 about the concept of money to ensure good money habits are formed later on. You’ll appreciate this book that talks more about the values of money and earning it, rather than just how to make (and spend) as much of it as possible. Rather than raising a tycoon, this book focuses more on how to raise fiscally-responsible children that would hopefully be more well-rounded in their adult years.
Related read: HOW TO TEACH KIDS ABOUT SAVING MONEY
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