What are the top 10 investing books for kids ages 8 to 14 to teach them about money?
AI's response in regular print | Beverly Hills, CFP®, Joe O'Boyle's in italics
“What are the top 10 investing books for kids ages 8 to 14 to teach them about money?”
1. "The Millionaire Next Door for Kids" by Thomas J. Stanley and William D. Danko is a children's adaptation of the bestselling personal finance book "The Millionaire Next Door." The book teaches kids about the importance of financial independence and provides them with the tools to achieve it. The book is appropriate for children ages 8 to 12.
The book is divided into three parts, each containing several chapters. Part one introduces the concept of wealth and explains how the authors studied the habits of wealthy people to learn how they accumulated their wealth. Part two covers the seven traits that wealthy people have in common, such as living below their means, working hard, and investing wisely. Part three provides kids with practical advice on how to save, budget, and invest their money.
Overall, "The Millionaire Next Door for Kids" is an excellent resource for parents who want to teach their kids about personal finance. It presents complex financial concepts in a simple and accessible way and provides kids with practical tips and advice that they can use to manage their money.
2. "Money Matters for Kids" by Teri Maxwell is a comprehensive guide to financial management for children. This book is appropriate for children ages 8 to 12. It covers a wide range of topics, including saving, budgeting, spending, giving, and investing. The book is written in a simple and engaging style, making it easy for kids to understand.
The book is divided into 30 short chapters, each focusing on a different aspect of money management. Each chapter includes real-life examples and practical tips for children to implement. The book also includes interactive activities and questions to help children apply what they have learned.
One of the strengths of "Money Matters for Kids" is its focus on character development. The author emphasizes the importance of integrity, generosity, and wise stewardship of resources. The book also provides guidance on how to make money in ethical and legal ways.
Overall, "Money Matters for Kids" is an excellent resource for parents who want to teach their children about money management. It provides a solid foundation for children to develop good habits and attitudes towards money, which will serve them well in the future.
3. "The Kid's Guide to Money: Earning It, Saving It, Spending It, Growing It, Sharing It" by Steve Otfinoski is an excellent resource for kids and parents who want to learn more about money management. It's appropriate for children ages 8 to 12, but can also be useful for younger or older children depending on their level of financial literacy. The book covers a wide range of topics, including earning money, budgeting, saving, investing, and donating.
One of the best things about this book is that it encourages kids to think about money in a positive way. Rather than focusing on the negative aspects of money (like debt or financial insecurity), the book emphasizes the opportunities that money can provide, such as the ability to achieve goals or help others.
Overall, "The Kid's Guide to Money" is an engaging and informative book that provides a solid foundation in money management for kids. Parents can also benefit from reading this book with their kids to reinforce financial lessons and help their children build healthy money habits.
4. "Money Doesn't Grow on Trees" by Neale S. Godfrey is a comprehensive guidebook that teaches children about money management. The book covers topics such as earning, saving, investing, and spending money wisely, and provides practical advice on how to handle money effectively. The book is appropriate for children ages 8 to 12.
The author uses real-life examples to help children understand the importance of good financial habits. The book includes exercises and activities that parents and teachers can use to reinforce the lessons taught in the book.
Overall, "Money Doesn't Grow on Trees" is a great resource for parents and educators who want to help children develop good financial habits. The book is written in an engaging and accessible style, and the lessons are presented in a way that is easy for children to understand. I highly recommend this book to anyone who wants to teach children about money management.
5. "The Young Investor: Projects and Activities for Making Your Money Grow" by Katherine R. Bateman is a book that is designed to teach kids about investing and personal finance. The book includes a variety of projects and activities that are meant to be fun and engaging while also teaching important concepts related to money management. Some of the topics covered in the book include:
Basic financial concepts like budgeting, saving, and spending
The stock market and how it works
Different types of investments, such as stocks, bonds, and mutual funds
How to analyze stocks and choose which ones to invest in
Tips for building a diversified portfolio
The importance of setting financial goals and developing a plan to achieve them
The book is written in a way that is easy for kids to understand and includes helpful illustrations and examples throughout. It's a great resource for parents who want to teach their kids about money management and investing at an early age.
6. "How to Turn $100 into $1,000,000: Earn! Save! Invest!" by James McKenna and Jeannine Glista is an engaging and informative book that teaches kids about the basics of personal finance and investing. The book is appropriate for kids ages 8-14 and is written in a way that is easy for them to understand. The authors break down complex financial concepts into easy-to-understand language and provide practical tips for kids to apply in their everyday lives.
The book covers a variety of topics, from the importance of saving money to the basics of the stock market and how to invest wisely. It also includes real-life examples and case studies that help illustrate the concepts being taught. The authors encourage kids to start thinking about their financial future early and provide guidance on how to set goals and develop a plan to achieve them.
Overall, "How to Turn $100 into $1,000,000: Earn! Save! Invest!" is a great resource for parents who want to teach their kids about money management and investing in a fun and engaging way. Highly recommended!
7. "A Smart Girl's Guide: Money" by Nancy Holyoke is an excellent resource for young girls to learn about managing money. The book is appropriate for children ages 9 to 12. The book is written in a conversational and engaging tone that makes it easy for readers to understand the concepts presented.
The book is divided into five chapters, covering topics such as earning money, budgeting, saving, spending, and giving. Each chapter contains practical advice and tips that young girls can apply in their everyday lives. For example, the chapter on earning money offers suggestions for starting a business, babysitting, and pet-sitting.
One of the strengths of the book is its emphasis on the importance of setting financial goals. The author encourages readers to think about their long-term financial goals and provides guidance on how to achieve them. The chapter on saving, for example, offers practical tips on how to save money, such as setting up a savings account and setting a savings goal.
Overall, "A Smart Girl's Guide: Money" is an informative and empowering book for young girls. It provides practical advice on how to manage money, encourages readers to set financial goals, and promotes financial independence and responsibility.
8. "Growing Money: A Complete Investing Guide for Kids" by Gail Karlitz is a comprehensive guide to investing for kids. The book is appropriate for children ages 10 to 14. The book is divided into easy-to-read sections that cover the basics of investing, including stocks, bonds, mutual funds, and real estate. The book is written in a clear, easy-to-understand style that is perfect for kids.
The book is full of helpful tips and advice, such as the importance of setting goals, understanding risk, and doing research before investing. It also includes real-life examples of successful investors, as well as fun activities and quizzes to help kids learn about investing.
Overall, "Growing Money" is a great resource for kids who are interested in learning about investing. Whether your child is just starting to learn about investing or is already an experienced investor, this book is sure to be a valuable resource.
9. "How to Make Your Money Grow" by Eldon C. Daugherty is a comprehensive guide to investing and growing your money. This books is appropriate for teenagers or young adults. The book covers various investment options, including stocks, bonds, mutual funds, real estate, and more. It also provides valuable advice on creating a financial plan, managing risk, and minimizing taxes.
One of the strengths of this book is its clear and accessible writing style. The author explains complex financial concepts in a way that is easy to understand, even for beginners. The book is also well-organized, with each chapter focusing on a specific investment topic. This makes it easy for readers to find the information they need.
Another highlight of the book is its emphasis on long-term investing. The author stresses the importance of patience and discipline when it comes to investing, and encourages readers to focus on their long-term goals rather than short-term market fluctuations.
Overall, "How to Make Your Money Grow" is an excellent resource for anyone looking to learn more about investing. It provides a solid foundation of knowledge for beginners, while also offering valuable insights for more experienced investors. Whether you are just starting out or looking to grow your wealth, this book is definitely worth a read.
10. "The Richest Man in Babylon" by George S. Clason is a classic personal finance book that offers timeless advice on how to build wealth and manage money. This books is appropriate for teenagers or young adults. The book is written as a series of parables set in ancient Babylon, and it follows the story of Arkad, the richest man in Babylon, as he shares his secrets to financial success with a group of his fellow citizens.
Through the parables, Clason teaches readers the importance of living below their means, saving and investing for the future, and making smart financial decisions. The book emphasizes the idea that anyone can achieve financial success if they are willing to put in the effort and follow a few simple principles.
One of the key lessons of the book is the importance of paying yourself first. Arkad advises his fellow citizens to save at least 10% of their income and to use that money to invest in themselves and their future. He also stresses the importance of living below one's means and avoiding debt.
Overall, "The Richest Man in Babylon" is a great read for anyone looking to improve their financial literacy and build wealth over the long term. The lessons are timeless and applicable to anyone, regardless of their age or financial situation.
Reading books about money and investing with your child at an early age is highly encouraged. It can help teach your child about the value of money and may set the foundation for good money habits for their future.
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Joe O'Boyle is the founder and principal of O'Boyle Wealth Management, a full service financial planning and investment management firm, located in Beverly Hills, California. Joe O’Boyle was named to InvestmentNews 40 under 40 class of 2016, and has a catalog of financial planning and investing articles on Money.com & U.S. News. Disclosure information.