When I was young, once or twice a year my father would empty out the large wooden box where he threw his spare change every day, and together we would roll pennies, dimes, nickels, and quarters into neat, uniform cylinders and take them to the bank. I was always astonished at how much money the discarded change would add up to — it was a great, childhood example of a penny saved is a penny earned. When I thought I might do the same now that my kids are school age, I realized there’s just not much change to count. Almost every financial transaction I make is virtual — debit cards, Venmo, Apple Pay. I found myself wondering how on earth will they learn the value — or the weight, in coins — of a dollar?
These days, parents can put allowance on a child’s debit card with just a couple taps on a smartphone — no cash necessary. Easy, right? But how do we teach kids about money and all that it represents? These 12 books for tweens and teens can help.
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Books for Kids and Teens
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Get To Know: Money
Pre-order from:As money and finances move into the digital era, parents and educators need to adjust how they teach children about it. This book is an excellent resource to help children learn about earning and budgeting money, using a bank account, and understanding cryptocurrency. It’s a must-have for teaching children financial literacy.
(On sale: 12/20/2022)
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Show Me the Money: Big Questions About Finance
Also available from:Alvin Hall grew up in severe poverty in the Florida panhandle — then became a world-renowned financial trainer, expert, and author. In Show Me the Money, Hall shares his no-nonsense approach to money matters, including how the financial, business, and economic sectors of our society work.
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Growing Money: A Complete Investing Guide for Kids
Also available from:Are 12-year-olds too young to understand investing? Hardly, according to Gail Karlitz and Debbie Honig. This book breaks down the basics of bonds, stocks, mutual funds, and more, so that middle grade readers can grasp the principles of investing. Mom or dad might learn a thing or two as well.
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Project Startup Series
Also available from:Shark Tank fans and aspiring entrepreneurs will love this novel inspired by real-life friends Rose Wang and Laura D’Asaro, the founders of Chirps chips. In the story, sixth-graders Hallie and Jay pair up for a business competition and get the idea to sell snacks made from bugs. Readers will learn about developing a business idea, pitching it, and managing inventory and finances.
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Dollars & Sense: A Kid’s Guide to Using — Not Losing — Money
Also available from:Kirkus calls Dollars & Sense “a sporty guide to the wide, weird world of money.” Indeed, this book covers basic economic concepts like supply and demand and inflation as well as the circumstance that led to the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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DK Eyewitness Books: Money
Also available from:This one’s about money itself — the various coins and banknotes from countries around the world, and throughout history. Author Joe Cribb is what they call a numismatist, or a currency expert, and was the former “Keeper of Coins and Medals” at the British Museum.
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The History of Money
Also available from:This book is an excellent resource to help kids learn about money, its history, why we use it, and how it works. It takes readers through the ages and stages of how money became necessary and teaches them about interest, banks, and taxes.
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Heads Up Money
Also available from:For older teens with a basic understanding of money matters — how and why to save, the difference between wants and needs — there’s Heads Up Money. This book goes beyond “What is money?” to more prescient and timely questions like “What is the wage gap?” and discusses economic theories. It’s a big-picture view of money and its role in our modern world, rather than a personal finance how-to.
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How Money Works: The Facts Visually Explained
Also available from:For the visual learner who is interested in complex financial information, How Money Works will be indispensable. Facts and stats pepper the entire book — part of the How Things Work series — and help break down complex topics, like asset allocation and diversification (which I’ve never really understood).
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More Money, Please: The Financial Secrets You Never Learned in School
Also available from:This is Money Management 101 for those who have recently left the nest, written by someone in their shoes. But not just anyone. At just 17, Scott Gamm created HelpSaveMyDollars.com — and quickly became a financial news commentator. He wrote this book in 2013 while he was still at the New York University Stern School of Business.
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Editor’s Note: This article was originally published in 2018 and updated in 2022.