If they can put it in their mouth, they can learn about it. It’s never too early to start teaching kids about money. In fact, the earlier you begin to expose kids to money, the sooner they will become comfortable and capable of handling it. Not just in the sense of eating it.
Like many skills, the money behaviours that you help your kids develop at a tender age are likely to have a long lasting impact. Therefore, it is important that you help them form positive habits, such as saving and budgeting. But how do you start teaching kids about money?
One great way to expose your kids to money concepts is through books. There are many helpful children’s books on the topic of money.
According to our member’s financial literacy specialists, these are some of the best books for teaching kids about money:
This colourful and easy to understand story for ages 4 to 8 teaches the basic principles of money management. Follow twins, Ella and Andy as they receive piggy banks and learn the concepts of saving and delayed gratification. The author, Pamela George, is a Credit Counsellor who is experienced in guiding families towards financial health.
Who doesn’t love Mercer Mayer! If you want to teach your kids the concept that money has to be earned before it can be spent, you should consider this book. The fun, vivid illustrations facilitate quick learning and help children easily visualize the concepts of earning, saving and spending. Written for 5 year olds, this book promises to become one of your kid’s favourite books.
Written in an engaging manner, the rhyming catches the attention of the reader while teaching a valuable lesson about saving money. The colourful, humorous illustrations add fun to the idea of saving money. Follow twins Rock and Brock, who have very different money behaviours, as they attempt to save.
Everyone likes to laugh. This book is written in a humorous manner and contains beautiful watercolour and ink illustrations. The inclusion of real life addition and subtraction problems make this an entertaining and enjoyable read. Follow along to see if Miss Fox’s class will ever make it to Roller Coaster Planet.
With the Dr Seuss stamp, this book is sure the entertain. Readers learn they have choices about what they can do with their money – spend, save or share. The bear gets a chair, the fly gets some pie and, of course, the fox gets some socks. In addition to containing a great message about the choices people can make with money, the rhyming couplets and bright illustrations make this a very fun read.
Bear County is the place to be! Written for kids over the age of 5, the authors attempt to teach kids that money does not grow on trees. Listen and learn as the cubs try to make money of their own by starting their very own businesses, from a lemonade stand to a pet-walking service. You can never go wrong with this classic book series.
Set in a Tanzanian market, this book not only teaches children the concept of saving for something special but introduces them to another culture. An award-winning story of generosity and determination that earn unexpected rewards, this book will definitely capture the attention of school aged children.
These book suggestions were submitted by our members, Money Mentors, the Credit Counselling Society and Credit Counselling Services of Atlantic Canada. For more help on teaching kids about money, find a member in your area by accessing our list of non-profit credit counsellors.
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