Money Talks, So Should You

Q&A: What books can help children become more financially literate?

Laura Scharr-Bykowsky
by Laura Scharr-Bykowsky, The Garrett Network  (@LauraScharr )

I think it is a great idea to add financial books to your kid’s reading list. 

Here are some books that help teach basic financial and economic topics to children:

For young kids

Bunny Money by Rosemary Wells (Ages 4-7)
From the Max and Ruby series this story follows the bunnies as they try to find a birthday present for their grandma — a fun introduction to math.

Annie's Adventures Sisters 8 by Lauren Baratz-Logsted (Ages 6-9)
This series follows the adventures of octuplet sisters after their parents go missing. Cleverly tucked away in these pages are a series of themes related to financial literacy. The series follows them as they learn to pay bills, balance a check book and even file their taxes.

Money Tree by Dave Hunt (Ages 10 and under)
This book features a classic tale about a boy who invents a “money tree."  Soon everyone in town has an unlimited supply of cash, but it leads to bigger problems.

Federal Reserve Comic Books
The Federal Reserve is also an excellent source of comic and other books that teach various financial and economic topics and you can order them for free. Click here for more info.

For tweens, teens, of kids of any age

The Millionaire Next Door by Thomas Stanley
This is a must-read for people who are serious about building wealth. The book profiles people who made it rich in a simple and straightforward way. It offers basic concepts and principles to help build wealth for life.

Growing Money: A Complete Investing Guide for Kids by Gail Karlitz
This complete guide explains in kid-friendly terms all about savings accounts, bonds, stocks, and even mutual funds.

The Richest Man in Babylon by George S. Clason
The author uses delightful parables to explain the basics of money including the concept of dollar compounding and early savings.

 

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Laura Scharr-Bykowsky is the founder of Ascend Financial, a fee-only financial planning firm located in Columbia, SC. She has been providing fee-only financial planning services since 2008 and is a regular contributor to Columbia, S.C.-CBS affiliate WLTX for their Money Monday segment.