As parents, we strive to equip our children with the skills and knowledge necessary to succeed in life. One critical aspect that is often overlooked in traditional education is financial literacy. Instilling strong financial values and understanding at a young age sets the foundation for a lifetime of responsible money management and decision-making. To help you guide your children on the path to financial success, I’ve compiled a list of the best financial literacy books for kids.
Best Financial Literacy Books for Kids
These books cover a wide range of topics, from basic money concepts to more advanced topics like investing and entrepreneurship. Each book is tailored to engage young minds and present complex financial ideas in a simple, easy-to-understand manner. Not only will these books provide your children with valuable knowledge, but they’ll also inspire curiosity and spark conversations about money management and financial responsibility.
1. Rich Dad Poor Dad, by Robert T. Kiyosaki
In “Rich Dad Poor Dad,” Robert Kiyosaki shares his journey growing up with two father figures – his biological father and his best friend’s father. These two men influenced his thoughts about money and investing, teaching him essential lessons that allowed him to become a successful entrepreneur. Kiyosaki’s biological father, whom he refers to as the “Poor Dad,” followed the traditional path of working hard, earning a good salary, and saving money. In contrast, the “Rich Dad” emphasized the importance of making money work for you through investments and passive income streams.
2. Finance 102 for Kids, by Walter Andal
“Finance 102 for Kids” is the second installment in Walter Andal’s series aimed at teaching financial literacy to young readers. Building upon the foundational knowledge presented in “Finance 101 for Kids,” this book dives deeper into real-life situations and the practical application of essential financial lessons. Andal believes that children must understand money management concepts at an early age to secure a financially stable future. The book covers essential topics such as saving, investing, and growing money. It also includes fun and engaging activities designed to help children learn about budgeting, setting financial goals, and understanding the value of money.
3. Investing for Kids, by Dylin Redling, Allison Tom
“Investing for Kids” is a comprehensive guide designed to teach children aged 8 to 12 the basics of saving, investing, and growing their money. Through the entertaining and informative guidance of the Dollar Duo – Mr. Finance and Investing Woman – young readers will learn about stocks and bonds, the importance of diversification, and the concepts of risk and reward. The book aims to instill an early understanding of money management in children, so they can become money-savvy adults. It covers essential financial concepts such as compound interest, the power of saving, and the value of long-term investing.4.
4. On Your Mark, Get Set, INVEST , by Luke Villermin
is an engaging and educational book by Luke Villermin that introduces children aged 8 to 12 to the essential concepts of personal finance, money management, and investing. Using the entertaining story of Thrifty Tortoise and Ritzy Rabbit racing towards the ultimate prize – a brand-new bike – the book offers valuable lessons on making smart money decisions. Throughout its seven chapters, the book addresses critical financial questions such as: where money comes from, why saving now leads to a better financial future, the importance of budgeting, and how the stock market and compounding can be a child’s most potent financial superpower.
5.How to Turn $100 into $1,000,000, by James McKenna, Jeannine Glista, Matt Fontaine
Authored by James McKenna, Jeannine Glista, and Matt Fontaine, the creators of BizKid$, the book breaks down complex financial concepts into easily digestible chapters, focusing on three core strategies: making money, saving money, and growing money through smart investments. The book offers advice on securing a first job, starting a business, setting financial goals, creating budgets, and harnessing the power of compound interest to grow wealth. The authors also provide useful tools, such as a one-page business plan template, a two-page plan to become a millionaire, and a personal budget tracker.
6. Kid Start-Up, by Mark Cuban, Shaan Patel, Ian McCue
“Kid Start-Up: How YOU Can Become an Entrepreneur” is a motivating and informative guide for young readers, inspiring them to explore entrepreneurship and launch their own start-ups. Co-authored by Mark Cuban, Shaan Patel, and Ian McCue, the book empowers kids to discover their business ideas and bring them to life, regardless of their age. The authors provide ten kid-friendly business ideas, ranging from classic ventures like lemonade stands to contemporary projects such as opening an Etsy art store. The book encourages young readers to either pursue one of the suggested businesses or to create their own unique start-up concept.
7. Make Your Kid A Money Genius, by Beth Kobliner
“Make Your Kid A Money Genius” is a comprehensive, jargon-free guide designed to help parents teach their children about money management, regardless of their income levels. The book emphasizes that it’s crucial to start educating kids about money from a young age, as research shows that basic money habits are formed by the age of seven. The author, Beth Kobliner, asserts that instilling essential values such as delayed gratification, hard work, living within one’s means, obtaining a good education, and being generous are key to raising financially savvy and successful individuals.
8.Financial Peace Junior Kit, by Dave Ramsey
The “Financial Peace Junior Kit” is a comprehensive toolkit designed to help parents teach their children essential money management skills, covering four basic concepts: working, spending, saving, and giving. The kit aims to empower parents to raise financially smart children, regardless of their own financial history, by providing a range of tools and resources to engage kids of all ages.
9. Little Daymond Learns to Earn, by Daymond John
“Little Daymond Learns to Earn” is a delightful and educational children’s book authored by bestselling writer and Shark Tank star Daymond John. The story introduces readers to Little Daymond and his resourceful friends, who come up with a small business idea to earn money for a music poster that Daymond desires. As the friends pool their unique strengths and talents, they learn valuable lessons about financial management and cooperation, ultimately achieving their goals and even saving some extra cash.
10. Kyng & Kyren’s Generational Wealth Building Activity Book, by Kyren Gibson
“Kyng & Kyren’s Generational Wealth Building Activity Book” is a unique and informative guide that aims to teach children valuable lessons about personal finance, wealth-building, and financial literacy. Recognizing that schools often overlook these critical aspects of adult life, this book fills the gap by providing essential financial knowledge to help kids get a head start in life. Together, Kyren and Kyng created “Kyng & Kyren,” an educational tool and motivational speaking platform with the goal of empowering their community through wealth and knowledge.
Related: Best Personal Finance Books
Final thoughts
In conclusion, fostering financial literacy in children is an invaluable investment in their future success and well-being. By introducing them to concepts like saving, budgeting, investing, and entrepreneurship at a young age, we equip them with the tools they need to navigate the complex world of finance confidently. The curated list of financial literacy books for kids serves as a gateway to these essential skills, offering engaging narratives, relatable characters, and practical advice tailored to young readers. Through these books, children not only gain knowledge but also develop a mindset of financial responsibility and empowerment.
