Back-to-School Money Skills- Essential Guidance for Parents and Children
on Aug 2, 2024
As the back-to-school season approaches, it’s the perfect time to focus on your family’s financial education. In this edition, we’ve gathered valuable resources and tips to help you and your children start the school year strong, including must-read books, top online tools, informative podcasts, and updates on financial literacy initiatives in California.
BOOKS FOR PARENTS
Ron Lieber’s book, The Opposite of Spoiled– offers a practical guide for parents to address children’s awareness and questions about money, covering essential financial topics and instilling virtues like modesty and generosity to raise financially wise and grounded young adults.
Raising Financially Fit Kids by Joline Godfrey – This combination of parenting and personal finance books equips parents to teach their children essential money skills like saving, budgeting, and investing, through age-appropriate stages and activities.
BOOKS FOR CHILDREN
AGE: 4-7
Larry the Bunny Saves His Money by Jim DeGaetano Jr. – This book helps children learn how to count and introduces basic concepts of spending, saving, paying taxes, and enjoying their money.
AGE 8-13
Money Skills for Kids by Fern Browne – Packed with practical advice, real-life examples, and interactive activities, this book makes understanding money fun and engaging for kids aged 8 to 13, guiding them to become savvy savers and wise spenders.
AGE 13 -18
Money Skills for Teens: These Are The Things About Money Management and Personal Finance You Must Know But They Didn’t Teach You in School by Emily Carter – A comprehensive guide to help your teen achieve financial mastery, covering everything from earning and saving to investing and budgeting.
ARTICLES WRITTEN BY THE MAINSTREET TEAM
- Four Things I Want My Daughter to Know by High School Graduation
- Money Habits to Teach Children
- Money Tips for Young Adults
- Becoming a Financial Grown-Up
PODCAST BY ANNA SERGUNINA, CFP®
Anna has curated a private playlist called Kids & Coins featuring her top episodes on a variety of financial topics for children. The collection covers everything from setting up the “Three Jars” (Save, Give, Spend) and deciding on allowances, choosing the best savings and investment accounts, and recommending books and other resources for teaching kids about money.
Frequently Asked Questions
Q: Are these books suitable for all ages of children?
A: The recommended books cover a range of age groups, from young children to teenagers, providing valuable financial education across different developmental stages.
Q: Where can I purchase these books?
A: You can find the recommended books on online platforms such as Amazon, as well as in local bookstores and libraries.
Q: How can I incorporate these financial lessons into my child’s daily routine?
A: You can introduce money concepts through activities like setting savings goals, discussing spending decisions, and encouraging responsible money habits from an early age.
Conclusion
Equipping children with essential money skills and financial literacy from a young age is crucial for their long-term financial well-being. By utilizing resources like recommended books, articles, and podcasts, parents can play a key role in educating their children about money management and instilling positive financial habits. With the right guidance and educational tools, children can develop a strong foundation for making sound financial decisions in the future.