Beyond Piggy Banks and Lemonade Stands - How to Teach Young Kids About Finance (And They''re Never Too Young)

Beyond Piggy Banks is a light-hearted simple guide for parents to teach young children the fundamentals of finance. By incorporating it into their everyday life and using activities, games, quizzes and other fun and interactive tools, your child will build the strong financial foundation needed to make smart decisions as they grow.

List of contents

Foreword

Philip J. Cook, Professor emeritus of Public Policy and Economics, Duke University

Preface

Acknowledgements

Part One: Tips for the Already-Overwhelmed Parent

Chapter 1: Why Teach Finance to Elementary Aged Children?

What is Financial Literacy?

Why is Financial Literacy Important for Adults?

Why Teach Kids So Young?

A Real-life Example (kind-of)

Trends Affecting the Next Generation

Some Silver Linings

Won't They Learn Finance in School?

Short and Sweet Takeaways

Chapter 2: How to Make Teaching Finance to Kids Painless

Teach/Explore/Discuss

Need to Learn More About Finance Before You Teach It? 3 Easy Steps to Prepare

The Importance of Talking with Your Child

A Step-by-Step Guide to Age-Appropriate Information

Internet, Apps, and Debit Cards...Oh My!

Short and Sweet Takeaways

Part Two: Getting Started with Money- Beginner Level: PreK-1st Grade

Chapter 3: What is Money?

Explaining Money

Play Archeologist with Coins

Counting Coins

Moving on to Dollars

Where Does Money Come From?

How Coins are Made

The Making of a Dollar Bill

Sharing Fun Facts about Money

Money from Other Countries

Books for Learning

Online Resources

Short and Sweet Takeaways

Chapter 4: Why Do We Need Money?

What is Money, Really?

Why is Money Important?

What Does it Cost?

Short and Sweet Takeaways

Chapter 5: How Do We Get Money?

What is a Job?

Types of Jobs

What's a Boss?

Books for Learning

Online Resources

Short and Sweet Takeaways

Chapter 6: The Building Blocks for Piggy Banks

Building Block 1: Needs versus Wants

Household and Family Needs

Building Block 2: Priorities

Building Block 3: Decision Making

Steps to Smart Decision Making

Books for Learning

Short and Sweet Takeaways

Part Three: Piggy Bank Basics (Save, Share, and Spend)- Intermediate Level: 1st-5th Grade

Chapter 7: Allowance and Kid Jobs

How to Structure Allowance

Allowance Hybrid

Allowance Rules

Earning Extra Money

Benefits of Working

Working Guidelines

Fun Jobs for Kids At All Ages

Books for Learning

Online Resources

Short and Sweet Takeaways

Chapter 8: Responsible Spending

Start with Cash

Save, Spend, & Share Piggy Banks

Never Too Young To Budget

Pull Back Your Own Spending Curtains

Smart Shopping

Setting a Positive Example

Books for Learning

Online Resources

Short and Sweet Takeaways

Chapter 9: Saving

Why Teach Young Children About Saving?

Saving Versus Spending

You are Already Teaching Your Child to Save

Teaching by Example

Pump the Brakes on Buying

Books for Learning

Online Resources

Short and Sweet Takeaways

Chapter 10: Sharing

Section I: The Fundamentals of Sharing

Why Teach Young Children About Sharing?

Explaining Charity

Show Your Child the Good

Start at Home

Set the Example

Encourage Gratitude

Section II: Get Involved

Little Things Matter

Charitable Activities for Kids

The Sharing Jar

Child-Friendly Charities

Fundraising

Books for Learning

Online Resources

Short and Sweet Takeaways

Part Four: For The Over-Achieving Kids (or Parents) Who Want to Learn Even More About Finance!- Advance Level: 2nd-5th grade

Chapter 11: Kiddie Economics

How Do Businesses Use Money?

What Do Businesses Buy With Their Money?

Business Profits

What is "The Economy"?

Macroeconomics (Big) Versus Microeconomics (Small)

Microeconomics

Important Concepts in Microeconomics (So They Can Impress Their Friends)

Your Child Already Understands Supply and Demand

Macroeconomics

The Economy is Always Changing

Important Concepts in Macroeconomics (They Can Impress Their Friends Even More)

Books for Learning

Online Resources

Matching Game

Short and Sweet Takeaways

Chapter 12: Intro to Banking & Investing

Interest: Money Making Money

Fun with Calculators (Yes, Fun!)

The Business of Banking

What is a Bank?

Bank Accounts

Opening a Bank Account

How do I Get My Money?

Bank Statements

Investing

What in the World is a Stock?

Why Do People Buy Stocks?

Matching Game

Short and Sweet Takeaways

Chapter 13: Learning about Advertising, Debt & Taxes

Advertising

Electronic Payments

Debt: The Good, the Bad and the Very Ugly

Rules of Debt

Taxes

Matching Game

Short and Sweet Takeaways

Chapter 14: Some Parting Words

Appendix A: Matching Game Answers

Appendix B: Quiz Answers

Appendix C: Activity Index

About the Author

About the author

Liz Frazier is a Certified Financial Planner specializing in financial planning for families and working professionals. She decided to go into financial planning after the birth of her first child because, like so many other new parents, she realized the overwhelming need to make sure her family was financially prepared and protected. Her goal is to alleviate the anxiety that surrounds finances and provide simple and painless advice for all of life's stages and changes.

Summary

Beyond Piggy Banks is a light-hearted simple guide for parents to teach young children the fundamentals of finance. By incorporating it into their everyday life and using activities, games, quizzes and other fun and interactive tools, your child will build the strong financial foundation needed to make smart decisions as they grow.

Additional text

We teach our kids to read, to do math, to help with chores, to share, but we often overlook financial literacy. Teaching money smarts should start at a young age, but with all the other "to-dos" of parenthood, it often gets overlooked. Understanding how to manage and grow one's money is crucial to having a successful life. After all, do you really want your jobless, asset-less middle-aged child to move back in someday? Enter Beyond Piggy Banks and Lemonade Stands, a book even the busiest of parents can read in tiny chunks while hiding in the bathroom. Its practical advice is presented in an entertaining and compelling way.

Product details

• Authors: Liz Frazier
• Publisher: Rowman and Littlefield
• Languages: English
• Product format: Hardback
• Released: 31.01.2020
• EAN: 9781475847611
• ISBN: 978-1-4758-4761-1
• No. of pages: 176
• Subjects: Guides > Self-help, everyday life > Family; Humanities, art, music > Education > Education system; EDUCATION / Administration / General, FAMILY & RELATIONSHIPS / Parenting / General, EDUCATION / Finance, Organization & management of education, Advice on parenting, Educational administration and organization, Parenting: advice and issues, Pre-school & kindergarten, Pre-school and kindergarten, Funding of education & student finance, Funding of education and student finance