scorecardresearchThis children's day, endow your child with 4 key learnings of personal

This children's day, endow your child with 4 key learnings of personal finance

Updated: 14 Nov 2022, 10:37 AM IST

Money management is a life-enhancing skill and what better way to teach this to your children than gift them books on personal finance?

Gift your children books on personal finance

Gift your children books on personal finance

There is no dearth of books when it comes to learning about finances. But not many books cater to teaching money management to children. Most children and teenagers have a carefree attitude towards the money they get or earn, which is why educating them about personal finance becomes all the more important. 

Teaching children what financial health means and how they can attain their financial goals through simple saving and investing measures is important. You can start by buying them books that teach them the nuances of finances through playful learning. As they start learning about what money is and how money works to make money grow, they can move on to the next step of learning how to make personal finance decisions.

This children’s day, gift your ward the pleasure of reading simple yet impactful books on personal finance. Some of these include:

Real world money lessons for kids & teens

Does your child understand money? If not, this book can help them start learning about money. The book starts with simple lessons and anecdotes about how money came into being. The subsequent lessons educate on financial matters will empower children to decide what they want to do with their money. Once they grasp the outstanding concepts of financial literacy, you cannot help being proud of how your children will look forward to securing their financial future.

Money matters 101: A smart money Guide for 18 and Beyond

Personal finance is beyond just saving and investments. There is a lot you must learn to get your financial house in order. As opposed to the much-discussed goal-based planning, you must focus on lifestyle-based planning. This is because you cannot plan your retirement corpus without taking the latter into purview. The contents of this book will help you find solutions to critical lifestyle and retirement questions. The workbook contains templates and worksheets to use and leverage money. The book has been specially designed for teens to teach them the value of good credit and help them operate within their budget.

Investing for kids – How to save, invest, and grow money

Move over from the basics of finance, and let your child now focus on investing. The right investing behaviour is crucial to managing money. This book lists the profiles of some of the world’s most acclaimed investors and how they made money with time. Apart, your child will come to know of details of major historical financial events that changed the course of the world’s stock markets and people’s outlook towards their investments. Readers’ reviews reiterate how this book is indeed a great choice for kids inclined to learn more about how to invest their money.

Make your kid a money genius

You want your children to have a solid foundation in money management, but are unaware of how to start. Well, this book can help your child take the first step. Written in an easy, lucid language for both children and their parents, this book details numerous concepts on money. Simple examples help kids master the nitty-gritty of finance and help them grow into financially responsible adults. 

The author explores myriad topics like teaching children the value of delayed gratification, the importance of working hard and, last but not the least, living within your means. Once the children learn the cons of living on credit, they succeed not only financially, but also in life in general.

Books are a great learning source, provided you know which to pick and what to ignore. Instilling in your children the passion to read, and moreover, to read and learn about finance, will indeed go a long way toward turning them into financially responsible adults.

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First Published: 14 Nov 2022, 10:37 AM IST