Top 5 money books for your kids

Too often, the basics of personal finance are little more than an afterthought in our childrens’ classrooms. But these lessons are as practical and essential as any other subject taught in school. You can kickstart financial literacy at home with books designed for every age to teach your kids the ins and outs of money management. We chatted with NerdWallet financial expert, Shannon Terrell to share her top recommendations:

Book Name: Money Plan

Author: Monica Eaton

Recommended Age Range: 3-5years old

Brief Description: This book follows a young girl, Mia, and her mother, as they go on their weekly grocery shopping trip. Readers learn how money is earned and why budgeting for the things we want and need is important. It’s colourful pictures will engage younger readers and best of all — it rhymes. 

Link: https://www.amazon.ca/Money-Plan-Monica-Eaton/dp/173715000X 

Book Name: The Missing Money (Money Monsters Book 1)

Author: Okeoma Moronu-Schreiner

Recommended Age Range: 5-7 years old

Brief Description: This charming picture book tells the tale of young Kai’s missing money — an ATM ate it! The book introduces the concept of the banking system, including bank accounts, earned interest and mobile banking, complete with brightly coloured illustrations and a magic ATM card.

Link: https://www.amazon.ca/Money-Monsters-Missing-Okeoma-Moronu-Schreiner/dp/1733806717/ 

Book Name: Finance 101 for Kids: Money Lessons Children Cannot Afford to Miss

Author: Walter Andal

Recommended Age Range: 8-12 years old

Brief Description: Finance 101 for Kids offers a comprehensive introduction to money. It covers how money began, how credit works, the purpose of the stock market — even foreign currencies. And if you make it through this volume and your kid is hankering for more, there’s also Finance 102 for Kids by the same author.

Link: https://www.amazon.ca/Finance-101-Kids-Lessons-Children/dp/1634139437 

Book Name: How to Turn $100 into $1,000,000: Earn! Save! Invest!

Author: James McKenna, Jeannine Glista, Matt Fontaine 

Recommended Age Range: 10-14 years old

Brief Description: If you can’t seem to your kid interested in financial literacy, this book might do the trick. It offers an actionable path from $100 to $1 million by teaching kids how to make, save and grow their money. This book affirms that becoming a millionaire is tough work, but isn’t out of reach. Between its covers, kids will learn how to get their first job, start a business, save money, and invest like a pro. 

Link: https://www.amazon.ca/How-Turn-100-into-000/dp/076118080X 

Book Name: How to Money: Your Ultimate Visual Guide to the Basics of Finance 

Author: Jean Chatzky, Kathryn Tuggle

Recommended Age Range: 12-18 years old

Brief Description: This book is designed to help adolescents and teens grow their financial literacy. It covers a bunch of money topics specific to young adults, like first paycheques, starter credit cards, student loans and investments for market newbies. It’s practical, it’s easy to digest, and it’s an excellent primer for young folks as they prepare to take full control over their financial future. 

Link: https://www.amazon.com/How-Money-Ultimate-Visual-Finance/dp/1250791693 

NerdWallet’s guide on kids savings accounts or for young adults who are ready to leave the nest can guide kids on how to achieve financial independence and how to choose the best student credit card.