One of the questions I often get asked is how and when do I teach my children about budgeting, saving and just basic financial knowledge. It’s really never too early to teach children the basics of financial literacy. At a young age children are watching ads on television and see the latest "must have" widget. Giving children an allowance is one way to introduce them to budgeting, savings and investing. Below is a list of books both of you can enjoy while also learning other skills that will lead your children to be financially responsible.
Real life strategies for helping parents teach their children lifelong money skills and values.
Beginner to Experienced Investor
An easy to understand and yet powerful book on investing and learning to protect your financial future.
- The Berenstain Bears Trouble with Money: Teaches the basics of how money works and how it influences earnings, savings and overspending, etc.
- The Berenstain Bears Dollars and Sense: Learn the value of money and how to manage their allowances.
This is a great book to teach your children basic money math, such as addition and subtraction, as well as the idea of budgeting and how you need to be prepared with an emergency fund.
Pick up this book to teach your children how to be frugal and how to reuse certain items of value.
This is the first in a series that teaches the basics of entrepreneurship, planning and money management.
Giving children a book that they will not only enjoy but that also teaches a lesson is a great way to kill two birds with one stone. When starting to teach your children about money, books are a great way to begin. These are great books by wonderful authors, and we hope that these books make your financial discussions a bit easier!