Teaching Children about Money

Although few books address the unique concerns of wealthy parents, many general-audience resources contain useful information about teaching children how to spend, save, invest, and give money. The overall advice: examine your own past; make learning about money a part of daily family life; model what you teach; and seek a balance between guiding children and letting them learn from their own mistakes. 

Note: 

More Than Money does not necessarily endorse all the viewpoints in the resources below.

Most of these, and other books on money and children, can be ordered from the National Center for Financial Education: San Diego,

Books for Children

The Totally Awesome Money Book , by Adrianne G. Berg and Arthur Berg Bochner. A guide written by a mother and her 10-year-old son for kids age ten and up. Covers how to spend, save, and invest money. Includes games, quizzes, riddles, charts, and stories. Newmarket Press, 1992. If You Made A Million , by David M. Schwartz. This delightful book shows visually what money will buy, what it takes to earn it, and how much it can grow if you save. Also explains how borrowing works. For children grades two to six. Lee 

and Shepard Books, 1988.

Books for Parents

Kids, Money & Values: Creative Ways to Teach Your Kids About Money , by Patricia Schiff Estess and Irving Barocas. An easy-to-use book focussing on teaching good habits, attitudes, and skills. Covers spending plans, allowances, distinguishing wants from needs, wise shopping, and the art of giving. Includes activities, tips and role-playing games, and projects by age from preschool through pre-teen. Betterway Books, 1992.

Piggy Bank to Credit Card , by Linda Barbanel. A practical guide to teaching children financial skills. Organized by two-year age groups from six to eighteen with skills and challenges appropriate for each group. Topics include dos and don'ts for teaching "the financial facts of life," and how to deal with compulsive shopping, excessive frugality, shoplifting, etc. Crown Books, 1992.

A Penny Saved , by Neale S. Godfrey. This book offers games and exercises regarding making budgets, doing chores for pay, and investing. Unusual ideas: family banking and pooling family money for family projects. Simon and Schuster, 1992.

Step-by-step Kits for Parent and Kids Together

How to Teach Children About Money:

by Peggy Houser and Hassell Bradley. A guide for adults to use to help children learn about earning, saving, spending, and investing money. Each chapter incudes objectives, preparation, a realistic conversation with a child, and a field trip. Also includes a children's book.

Available for $16

Monthly Money:

by Craig W. Rhyme. A system for structuring allowances, budgeting and saving, for kids and teens age six to eighteen. Parents' manual suggests allowances for different ages and offers materials for values training. Includes sample lists of chores for which children are paid monthly, a record book to track chores daily, and a portfolio with separate cash pockets for saving, giving, etc.

Kids Biz: Make the Job of Growing Up Fun

by Cheri Ellison and Debbie Hope. Helps children develop good financial habits, high self-esteem, and a positive work ethic, etc. An elaborate plan for parents covers everything from money matters to rules about homework. Kids' planner includes a behavior checklist for each week. Children earn a paycheck for completing daily and weekly jobs.