On 7 March, children and adults around the world celebrate World Book Day. This global initiative aims to promote reading for pleasure for children, and to help every young person to have a book of their own.
This special day is a great opportunity to help your children or grandchildren to develop a love of reading. What’s more, it could be the start of their financial education, by reading books that make the subject of money easier to understand.
Read on to discover five great books that could help your little ones to build the foundations of a healthy and confident relationship with money.
Spend It! (A Moneybunny Book) (2022)
This book offers an adorable introduction to the concept of money, budgeting, and saving for three- to five-year-olds.
Main character Sonny realises his pocket money of three carrots a week isn’t enough to buy everything he wants – and it’s nowhere near enough to buy the bouncy castle he’s had his eye on.
As well as the practical aspects of saving up and budgeting, the book helps readers to start thinking about what makes them happy and what is worth spending their money on.
By encouraging your children to reflect on their values and the things they enjoy doing the most, the book can help them to begin building a healthy relationship with money. It could also instil in them the confidence to manage their own pocket money from a young age.
Money Plan (2021)
In this book, children aged four to eight can learn about the value of money through rhyming verse. Written by Monica Eaton, a certified financial education coach, the book follows Mia and her mother on a trip to the supermarket.
When Mia sees a treat that she’d like to buy, her mother helps her to understand the value of money and the importance of sticking to a plan when choosing how to spend your money.
Rock, Brock, and the Savings Shock (2017)
Rock and Brock are twin brothers who each receive a dollar in pocket money from their grandfather every week. Their grandfather promises to match every dollar that the twins save, but if they spend their dollars, they won’t get any extra.
While Rock hits the shops spending his dollar each weekend, Brock carefully saves his, making the most of his grandfather’s offer to match the money he saves. By the end of the summer, Brock has over $500 saved, and Rock is disappointed that he didn’t take the opportunity to save.
This book offers a simple breakdown of the power of compound interest for five- and six-year-olds to help children make sensible money decisions from a young age.
Finance 102 for Kids: Practical Money Lessons Children Cannot Afford to Miss (2021)
This book is all about helping 8- to 12-year-olds to learn money lessons that they can apply directly to real-world experiences straight away. Author Walter Andal covers a myriad of topics, including:
- Budgeting
- Making the most of your money
- Credit cards
- Compound interest and returns
- Protecting your money
- Social media and money
- Things other than money that can make your life rich.
The book is split into distinct lessons and features catchy quotes to help your children remember the key points. Alongside its predecessor, Finance 101 for Kids, this book is a great way to build on your child’s existing knowledge to help them to become a financially savvy teenager.
Felix Unlimited (2021)
Felix dreams of being a successful entrepreneur, but he’s not waiting until he’s a grown-up to achieve this. He’s already started his own business and made thousands that he’s stashed under his bed. Thing is, he’s not told his parents yet, and friendship troubles are starting to cause tension.
This book by Andrew Norriss takes the subject of earning your own money and turns it into a captivating story for 9- to 11-year-olds. It’s the perfect way to inspire your children and help them to develop their understanding of entrepreneurship and how it can affect all aspects of their lives.
Get in touch
Financial education isn’t just for kids. If you’d like to learn more about how we can support you in managing your finances so that you can achieve your long-term goals, please get in touch.
Either contact your financial planner directly, email us at hello@ascentawealth.com or fill in our online contact form to organise a meeting and we’ll get in touch.
