Since 2013, the United States has recognized April as Financial Literacy Month. Throughout the month, there are events held to shine a spotlight on the importance of financial education.
International Children’s Book Day and World Book Day are also celebrated in April, respectively April 2nd and April 23rd in most countries.
In light of these 3 events, I thought I would share some books that will teach Financial Literacy to children specifically.
Children as young as 2 or 3 years old know some basic things about finance. They know how to count to 5 or 10. They also know (kind of) where money comes from (the bank a.k.a. mom or dad). And most importantly, they know why they need it – for toys. :-). As minor as this may seem, it shows it is a good time to start educating them on finances!
In fact, it’s never too soon to start teaching children important life lessons about money. And a simple and fun way to start is with a good book!
So here are 10 books that will teach our children about financial literacy:
1. How the Moonjar was made: Noom & Raj strike up a friendship and need to figure out how to allocate their collections. Join them as they have fun finding out all about Saving, Spending & Sharing. The book has its own website where children can purchase a “moonjar” of their own. Suggested ages: 2–7 years.
2. Lemonade in Winter: This book teaches many money basics – like how many quarters equal a dollar. The story is about a brother and a sister who decide to run their own business. It gives kids a sense of how money works. The main lesson is on entrepreneurship and its many ups and downs, along with basic counting. Suggested ages: 3–7 years.
3. A Chair For My Mother: This book tells the story of a young girl, her waitress mother and her grandmother who lose everything in a fire. When they move into a new home, the daughter and grandmother save coins in a jar. They hope to buy a comfortable chair for the mother one day. Suggested age: 3 and up.
4. Bunny Money: As Max and Ruby hunt for the perfect gift for Grandma’s birthday, they are challenged with staying within budget while encountering a host of surprises. This story teaches about spending and saving money. Suggested age: 3 and up.
5. A Dollar For Penny: Penny is a promising entrepreneur who starts her own lemonade stand. As Penny earns her way to an entire dollar, readers learn about various coin values. They also learn about basic mathematical concepts. Suggested age: 8 and up.
6. If You Made A Million: This book is about four children and how they earn money by doing different chores. The book tackles some of the hardest money concepts to teach children. These concepts include earning, saving, investing and even dividends and interest. Suggested age: 4 and up.
7. Trouble With Money: Brother and Sister Bear need coins to play the Astro Bear video game, so they find different ways to work for the money. The author wrote the story with a touch of humor while highlighting the importance of separating needs from wants and appreciating the value of a hard-earned dollar. Suggested age: 4 and up.
8. Growing Money: This book explains the principles of investing in a way kids can understand; young readers will learn about compound interest, bonds, mutual funds and even how to read the finance section of a newspaper. Although the book is targeted to children, adults might learn just as much while reading along. Suggested age: 8 and up.
9. One Cent, Two Cents, Old Cent, New Cent: This book tells children the story and history of money with rhymes — from the start of bartering, to the different types of material used to create money. Moreover, it touches on counting money and the history of banking. All in a fun and silly manner to keep children engaged! Suggested age: 4 and up.
10. Those Shoes: This book is about a boy who really wants the shoes that everyone else at school has. It helps kids understand the difference between wants and needs. Furthermore, the book teaches children that what they already have is sometimes better than what they want. Suggested age: 5 and up.
Enjoy!
Until next time…