Most parents want to teach their kids about money, but many do not know where to begin. Some are not so good at handling money themselves and are wary about passing on bad habits to their children. Others just need a little guidance and practical everyday advice and tips. In the book Kids and Money: Giving Them the Savvy to Succeed Financially by Jayne A. Pearl there is a little of both. She gives practical solutions and tips to teach kids the value of a dollar. She also gives encouragement to the parents to start early with children and not wait until bad habits are formed.
Jayne A. Pearl takes the advice of teachers, psychologists, parents, and other professionals on how to teach kids about money in this kids money book. She shows fun ideas to teach kids how to save. She encourages that saving by the child should be done willingly by the child instead of a parent forcing the child to do it. Shopping trips can be transformed from a child always wanting to get things to learning the value of a dollar and choosing purchases wisely. Pearl also teaches how to guard against peer and media pressures and greed. How to land a first job and how to spend or save the earnings is also covered in this knowledgeable book.
Appropriate Age Group
The Kids and Money book is geared toward parents of children of all ages. Pearl goes over basics to teach preschoolers and young grade school kids. A teenager’s first job and what to do with the earnings are covered, as well as into college expenses and how to handle money living away from home.
Kids and Money: Giving Them the Savvy to Succeed Financially Topics
Parents can teach a lot of great life money managing skills to their children. The author covers a vast amount of these topics in the Kids and Money book. They include: the value of a dollar, how to make shopping fun instead of a constant “I want it!” battle, how to save, how to spend frugally, how to cope with peer and media pressure, and how to deal with a first part time job. Other topics include
donating money and the basics of investing for a child. When the author talks about investing, it could mean anything from a basic
savings account or
certificate of deposit to basic mutual funds.
Kids and Money: Giving Them the Savvy to Succeed Financially Highlights
Some of the highlights of the Kids and Money book are that there is everything to gain but nothing to lose by teaching kids about the wise use of money. Kids learn quickly, and it is ideal to start teaching children at a young age about money management. If the child is older, all is not lost. Although it may be more difficult to teach an older child or teenager about the appropriate use of money, it still can be done. It is always helpful to have a budget and live within one’s personal means.
All the common sense advice the author gives in the Kids and Money book to teach children about money is great. The ideas and tips can be put into practice today and not months or years from now. It is also fairly easy reading, which is always helpful. The thought that children should not be forced to save and it should be their decision is a great point in helping to teach your child to make their own decisions about money management. In the beginning some gentle prodding toward saving can be utilized.
