7 Ways to Save Money When You are Young and Naive
A lack of experience or knowledge shouldn’t stand in the way of smart money moves.
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If you want to teach your kids about personal finance but don’t know how, don’t fret! These books teach money lessons about the value of a dollar bill and more. We asked several experts in the finance space their personal favorite books to teach kids about money. See what they had to say and set your kid on his or her personal finance journey in the right direction.
Author: H.A. Rey
Riley Addams from Young and the Invested said:
Growing up, I loved Curious George because he was always getting into trouble but had a well-meaning owner who would steer him in the right direction. One book I’d recommend is “Curious George Saves His Pennies.” It offers a great view of how long-term saving requires discipline but can be worthwhile because it leads to better habits, goals, and life satisfaction. The ability to defer gratification has been closely linked to leading an objectively successful life filled with contentment and satisfaction. The book relays this theme in a typical Curious George fashion and imparts this lesson through relatable content to young kids.
Author: Walter Andal
Alan Liwanag from The Practical Saver said:
This is a great book especially for young ones because this book provides a good understanding and foundation of the basics of personal finance like investing, spending, credit card, just to name a few. This book teaches the young ones the simple why’s and how’s about finance – something that kids would understand at an elementary level.
Author: George S. Clason
Jerry Brown, from Peerless Money Mentor said:
I love this book because it teaches basic financial principles like paying yourself first, controlling your expenditures, and properly ensuring your assets through easy to understand parables.
Logan Allec, from Money Done Right said:
When I was a boy, my dad gave me a copy of a book called The Richest Man in Babylon. The story is simple: Arkad, a low-earning scribe, has become the richest man in the ancient city of Babylon, and the majority of the book consists of him telling his fellow Babylonians “in simple ways how to fatten [their] purses”.
The principles that the fictional Arkad gives are basic. Maxims like “make thy gold multiply” and “ensure a future income” introduced me to the basics of investing and cash flow.
I don’t remember many books that I read as a child, but I remember this one. It greatly shaped my view of money and finances and made me want to “make my gold multiply” as quickly as I could!
Although the principles are basic, I revisit this short book — it’s only about 100 pages — once every couple of years to get me pumped up about what I’m doing in life and business.
Breanna Reish from Wealth of Confidence said:
Author: John Lanza
All parents should look at The Art of Allowance by John Lanza. He has materials for kids as well. It’s simple and easy to get your kids going with money management and it involves the family, which is extremely important.
Author: Scott Alan Turner
Melissa Neacato from the FinCon Community said:
I love this book , I’m so happy to have received it that year at FinCon. Thanks, Scott Alan Turner!
Some of our finance-savvy team members chimed in with some of their favorite money books for kids, too. See some of their favorite childhood books purveying lessons about finances and money management.
Author: Neale Godfrey
Chris B. had this to say:
The author is a Mother, financial expert and one of the first female execs at Chase. Has charts, illustrations, photographs and is a great resource for parents who aren’t sure where to start.
Author: Judith Viorst
Desiree S. says:
I love this series, (Alexander and the Terrible, Horrible, No Good, Very Bad Day.) This time, Alexander is given a dollar from his grandparents on Sunday. He is faced with temptation to buy many wonderful things but the struggle to manage his money makes him feel terrible. It’s a great book to help kids learn the value of money.
Author: Jacqueline Davies
Steve H. said:
Evan is a people person, while his younger sister, Jessie, is a numbers person. When they both decided to open a lemonade stand, tensions rise, and war breaks out. A great summer read to get your child in the entrepreneurial mindset. Full of real-world marketing advice, business terms (with definitions), graphs, and math problems to understand the business world. Not to mention the value of money, teamwork, and family.
Author: Nancy Holyoke
Ages: 10 and up
Vanessa S. says:
This book goes through everything you should know about money. Honestly, it’s great to have a book geared towards girls, but the info should be shared with your son(s) too. Business ideas, saving, shopping, credit cards, and so much more. Inspiring young girls to depend on themselves, set, and meet goals.
Author: Devon Kinch
Taylor S. says:
Learn financial basics with Pretty Penny. You can see how Penny spends and saves her money. Young children can avoid financial trouble by learning how to establish a healthy relationship with money at an early age through fun, creative storytelling.
Author: Jen Sincero
Joe T. says:
Geared towards teens and adults of all ages, this book discusses getting over your own negative views on money and the blockages we encounter when it comes to success and amassing wealth.
Haven’t read your fill yet? Below are even more books to educate your children on money matters.
Author: Carol Christen and Richard N. Bolles
Recommended by Laurie Sallarulo with Junior Achievement
Author: Stan Berenstain
Ages: 5 – 9
Author: Ruby Rosemary
Ages: 4 – 7
Author: James McKenna
Ages: 8 – 11
Author: J.D. Brette McWhorter Sember
Ages: 8 – 12
Author: Robert Kiyosaki
Ages: 8 – 12
Author: Russell Hoban
Ages: 6 – 10
Author: Verna Williams
Ages: 6 – 10
Author: Mercer Mayor
Ages: 4 – 7
Author: Nancy Shaw
Ages: 4 -7
Author: Eric Braun
Ages: 10 – 13
It’s never too early to teach your children about money and personal finance. If you haven’t already, pick one of the above and get started today!
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