Did you know that kids develop most of their money habits by age seven? Teaching our kids about money when they are young lays the foundation for responsible money management later in life. Children whose parents emphasize the importance of financial literacy and encourage them to spend and save mindfully, develop a healthy perspective on money.
So how can we teach our kids about money in a simple and fun way? Through reading!
The Planning Center’s very own Kelsi Vos wrote a children’s book which does exactly that! It’s called “Saving the Day One Dollar at a Time,” and it tells the story of four superheroes, along with their sidekick Curious Cat, who help children in the town of Millionsville develop smart money habits. Each superhero focuses on a different topic like spending, saving, investing, and giving. The book gives easy-to-understand explanations, examples, and advice for each topic that kids can really relate to.
Here are some lessons the book teaches:
- Super Spender teaches the difference between what you want to spend your money on and what you need to spend your money on. It is important for kids to know these differences so they can easily prioritize where and how they are spending their money.
- Super Saver teaches you how you can save more of your money and suggests a good way to start is by saving half of everything you get.
- Super Investor teaches you the best ways to invest your money. Using your money to do things like start a lemonade stand, a lawn mowing service, or a pet care business that’s all your own could end up making great investments.
- Super Giver teaches why it is important to give your money to charities that you really care about and explains how to do it.
- Last, but not least, Curious Cat teaches you more about where the money in ATMs come from and what can happen if you don’t pay back credit cards right away.
Remember, teaching your kids about money doesn’t need to be difficult. In fact, it can be easy and fun!