Storybooks are the wonderful way to educate and entertain children. Often, books make complex concepts simple and fun. Books can make your job easier to introduce the concept of money and savings to kids.
Advisors can either have a small collection of children’s books which they can lend it to their clients children or simply gift them one. We have chosen the five most entertaining storybooks on money that are best suited for your clients children.
One Cent, Two Cents, Old Cent, New Cent by Bonnie Worth
In this book the protagonist, ‘The Cat in the Hat’ tells Sally and her brother about evolution of money. The book gives lesson on importance of money in life in an entertaining and engaging way.
Beginning with the ancient practice of barter, the Cat explains various forms of money used in different cultures, from shells, feathers, leather and jade to metal ingots to coins and paper. Apart from this, the book also gives kids a glimpse into banking services. It starts from the use of temples as the first banks to the concept of earning or paying interest and a step-by-step guide to mint coins.
Rock, Brock and the Savings Shock by Shelia Bair
This book is ideal for 7 to 10 year old kids. The book follows the life of twins - Rock and Brock.
Rock and Brock receive a dollar a week from their grandfather. Their grandfather doubles the amount if they manage to save in the subsequent week. For instance, if one saves 50 cents, the grandfather tops up this amount with 50 more cents.
While Rock is a spendthrift, Brock believes in savings. Rock spends all the money he has, Brock saves it for future. Each week when Rock gets just one dollar, Brock’s savings get matched. By the end of summer, Brock has five hundred and twelve dollars whereas Rock has none. When Rock sees what his brother has saved, he realizes he has made a mistake. However, Brock makes him realise that it is never too late to start saving.
Advisors can gift this book to explain to kids about the benefits of savings, compound interest and why spending on a whim can be foolish.
Follow the Money! by Loreen Leedy
This book takes the reader through the life of a money – how it is made and how it is circulated from customer to shopkeeper, employer to employee, and even donor to a charity.
Written from the point of view of a coin, the book is a fun way to introduce kids to the various uses of money. This book is suitable for children above five years.
Arthur’s Funny Money by Lillian Hoban
In this book, a monkey named Arthur and his sister Violet want to buy a t-shirt and a cap. Since they do not have adequate money to buy these clothes, they decide to start a business.
This funny book follows the trials and tribunals of the siblings before they finally earn their $5.25.
Ideal to introduce an entrepreneurial spirit to children, this book shows what it takes to run a business including costs, advertising and profit.
Money Madness by David A. Adler
In this book, the author has tried to answer all questions about money such as what is money, why do we need it and how to use it.
The book also explains the concept of foreign exchange and digital payments.
It is a good way to help children understand about money and its usage. The sections on digital money and currency, especially will give them a better understanding of how we do online transactions.
If there are other books you have come across, please feel free to share them with us in the comments below.