Ask Amy: What Are the Best Books for Learning to Talk to Kids About Money?

This post is made possible through the generous support of Great-West Great-Teachers, a program of Great-West Financial.

In today’s mobile world, iPhone and iPad apps are a great, quick way for kids to learn, experience and practice a financial concept.  You can check out my suggestions for mobile financial games and tools here.  However, sometimes we all need a bit more information and some good references.

Through my years of study and teaching, I have read a lot of books and used many different materials to teach financial literacy.  So that you don’t have to go through all the work I have, I’m providing a list of my favorite resources.

Suggested Books for Adults

• How to Teach Kids about Money by Lily Lodge
• Raising Financially Fit Kids by Joline Godfrey
• Do I Need It or Do I Want It by Jennifer Larson
• The Busy Family’s Guide to Money by Sandra Block, Kathy Chu,  and John Vaggoner
• Money Doesn’t Grow on Trees by Neale Godfrey

My favorite of these is the last book on the list.  Here’s a quick video giving a run-down of this book, as well as some highlights of the others.

Again, there are many reasons why I love Money Doesn’t Grow on Trees.

• It is full of practical tips and explanations about the need to talk about for parents
• It includes valuable information on several important elements of handling money including investing, taxes, and tipping
• The author offers realistic information about the use of allowances
• Provides activity ideas for parents to do with their kids
• It is good for parents of kids of all ages
• It is a book based on research and experience

Suggested Books for Kids:

• Alexander, Who Used to Rich Last Sunday by Judith Viorst – for ages 5 and up
• The Berenstain Bears’ Trouble with Money by Stan and Jan Berenstain – for ages 5 and up
• A Money Adventure by Neale Godfrey – for ages 4 and up
• The Totally Awesome Money Book for Kids by Adriane Berg and Arthur Bochner – for ages 11 and up
• TeenVestor by Emmanuel Modu and Andrea Walker – for ages 12 and up

My favorite on this list is the Berenstain Bears book.  Why?

• It highlights the need to recognize the difference between a want and a need
• It depicts the struggles parents may have with talking about money
• It has elements on the importance of earning, spending, saving, and sharing your money

Tell me how you enjoy these books below.  And please share any other books you’ve found that are helpful.  I love sharing successful resources!