Savant Wealth Management

This week marks Global Money Week, which touts the importance of grooming young people to develop good financial decision-making habits. Organized by the OECD, this year’s theme is “Build your future, be smart about money.” With that in mind, we’ve compiled a list to help both parents and kids of any age explore financial literacy.

NOTE: We have included Amazon links for your convenience. Savant Wealth Management does not have an affiliate marketing relationship with Amazon and does not earn commissions if you purchase from these links. We also encourage you to support your local independent bookstore, used bookstore, or library.

For Parents

Can you teach kids about money when you aren’t an expert yourself? Author Beth Kobliner believes it’s possible and tells you how in her book, Make Your Kid a Money Genius (Even If You’re Not). Kobliner’s book is less about money mechanics, and more about values, like delaying gratification, living within your means, and acting generously toward others.

For Young Children

The Squirrel Manifesto, by Ric Edelman. In this modern-day fable, Edelman explains how – just as squirrels gather nuts to prepare for the winter by eating some now and storing some for later – kids can learn the value of money by spending some of their allowance now and saving the rest for later. (Recommended by Savant Financial Advisor Justin Smith, CAP®, CFA®, CFP®.)

Sheep in a Shop, by Nancy E. Shaw. Geared toward very young children, Sheep in a Shop tells the story of a flock of sheep shopping at a store for a birthday gift, only to find that they don’t have enough money to pay for the gift they want!

A Chair for My Mother, by Vera B. Williams. After a family’s home is destroyed by a fire, neighbors help Rosa and her mother by bringing furniture to their new apartment. But one thing is missing: a soft, comfortable chair for Rosa’s mother. Rosa and her waitress-mom save coins in a big jar to buy a new chair, and when the jar is full, Rosa, her mother, and her grandmother, shop for a comfy chair Rosa’s mom can use to rest in after a tiring day.

For Older Children

Heads Up Money, by DK. Using real-life scenarios, this book helps kids explore financial concepts like supply and demand, financial crises, and free trade. More of a reference book than a “how-to” book, Heads Up Money contains colorful graphics that help kids understand complex financial ideas.

How to Turn $100 into $1,000,000: Earn! Save! Invest!, by James McKenna, Jeannine Glista, and Matt Fontaine. The perfect book for kids with an entrepreneurial spirit, How to Turn $100 into $1,000,000 includes chapters on how to set financial goals, create a budget, get a job, and start a business. Along the way, kids learn how to think like a millionaire.

The Everything Kids’ Money Book: Earn it, save it, and watch it grow! By Brette Sember. In this book, kids learn about saving, what money can buy, how credit cards work, and ways to watch money grow.

For Adult Children

Savant advisor Maureen Wright. CFP®, has a list of books she has recommended to clients to share with their children. They include:

During this year’s Global Money Week, your kids can join the more than 53 million children and young people the campaign has reached since 2012, and you may learn something too! In addition to this list, your Savant advisor may have other recommendations to help you set your children and grandchildren on the path to financial wellbeing. Happy reading!

About Savant Wealth Management

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