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

by Liz Frazier

Overview

Beyond Piggy Banks is written for you: the loving, responsible and overworked parents of young children. It takes the stress and mystery out of finance, and focuses on the basic fundamentals elementary children should understand so they can make smart decisions as they grow. This usable, light hearted, real-world guide provides parents with the specific tools and step-by-step lessons needed to teach their child. The lessons provided are easy to teach and understand. The activities are quick, enjoyable and educational. Each concept starts with the basics, and builds upon them so your child has a full understanding of the topic. The chapters are broken out into simple and digestible sections, made for busy parents who don’t have time for a finance novel. Most of all, the book focuses on how to incorporate teaching finance to your child through everyday real-world activities that you and your child are already doing. This book provides parents with the confidence to teach simple financial basics to children. With that confidence comes excitement and inspiration; by teaching your children about finance you will influence every step of their lives in a positive and meaningful way. The ultimate goal of this book, and of any parent, is to raise healthy, independent and responsible children; kids who are prepared when adulthood hits!

Product Details

ISBN-13:	9781475847611
Publisher:	Rowman & Littlefield Publishers, Inc.
Publication date:	09/09/2019
Pages:	176
Sales rank:	727,230
Product dimensions:	6.20(w) x 8.90(h) x 0.80(d)

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.

Table 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

Editorial Reviews

11/04/2019

Frazier proposes that even preschoolers are old enough to begin learning financial concepts in this straightforward and supportive guide. Frazier, a certified financial planner, is also a parent; from both perspectives, she guides parents toward, among other things, helping their children develop a positive attitude toward managing money and understanding how to make and meet financial goals. Age-appropriate information and activities are offered for children from pre-K through fifth grade, as are reading lists and online resources for parents to use as they incorporate financial education into their kids’ lives, such as by setting limits on spending at events or creating milestones in savings. Making extra money and finding work outside the home are key subjects in Frazier’s plan, which emphasizes that dealing with one’s own hard-earned cash is a pivotal real-life learning experience. An exceptional chapter on sharing focuses on charity, generosity, and why knowing the good that money can accomplish is as important as understanding how it works. This approachable book should alleviate any anxiety parents have about teaching their kids how to handle money. (Sept.)

Publishers Weekly

Liz Frazier has been providing insightful family-friendly financial advice to Forbes readers for years. If ever there were an undernourished topic in our education system, it is financial planning. Beyond Piggy Banks and Lemonade Stands is a breath of fresh air and must-read for young parents who want their kids to grow up into “money smart” adults.

Matt Schifrin

This is one of those perfect parenting books, in which parents themselves can learn lessons as they educate their children. Is kindergarten too early to teach kids about cash? Certainly not, according to author and financial planner Frazier. And, down the line, if we help young adult children calculate their apartment rental budget, they may not re-establish life at home post-college. Frazier recommends books, websites, apps, and online games as valuable tools for the financial training process. Added to her often-amusing examples and scenarios, they'll make readers feel like they've enrolled in Finance 101. While the book as a whole may feel a bit weighty, Frazier reminds readers that individual lessons won’t, and shouldn’t, happen in just one day, a month, or even a year. Financial wisdom evolves over a lifetime, and so will the ways we teach our kids about money. With so few books on this topic geared for educating for young children, Beyond Piggy Banks is an especially good edition to public library parenting collections.

Booklist

Liz Frazier has written a must-read for anyone wanting to teach financial education to their children…Read this book and learn from one of the best. I'm constantly asked what my recommendation is from parents and caregivers on how they should teach children about money—and this is it! Beyond Piggy Banks and Lemonade Stands will be my go-to-guide for many years to come.

Michelle Schroeder-Gardner

As an educator and writer for young people, I found Frazier's book a revelation. At last, a clear and fun-filled way to empower kids across the spectrum of childhood to understand money matters and making responsible financial choices. Beyond Piggy Banks is a must for parents and teachers!

John Claude Bemis

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.

Jennifer Weedon Palazzo

This is one of those perfect parenting books, in which parents themselves can learn lessons as they educate their children. Is kindergarten too early to teach kids about cash? Certainly not, according to author and financial planner Frazier. And, down the line, if we help young adult children calculate their apartment rental budget, they may not re-establish life at home post-college. Frazier recommends books, websites, apps, and online games as valuable tools for the financial training process. Added to her often-amusing examples and scenarios, they'll make readers feel like they've enrolled in Finance 101. While the book as a whole may feel a bit weighty, Frazier reminds readers that individual lessons won’t, and shouldn’t, happen in just one day, a month, or even a year. Financial wisdom evolves over a lifetime, and so will the ways we teach our kids about money. With so few books on this topic geared for educating for young children, Beyond Piggy Banks is an especially good edition to public library parenting collections.

Booklist