One of the questions that Darren and I get asked on a regular basis, is “how do I get my kids interested in money?” Many people, once they tackle their own financial issues, want to make sure their children don’t end up in the same position that they once were.
How to Turn $100 into $1,000,000: Earn! Save! Invest! Is a book written by the team that made Biz Kid$ and Bill Nye The Science Guy’s material and it aims to turn kids into financial gurus.
I love this book. I love it because our kids love this book. Of course, it’s not a book that is going to turn you into Warren Buffet, but it lays out the fundamental principles of how to make money and makes them fun.
That’s a real skill and I admire that this text never becomes condescending. You can’t talk down to kids if you want them to learn and the authors never do.
As importantly, they provide a framework for good general decision making. That’s a skill that can be applied to all areas of life. There are practical examples and workouts to help your kids really get to grips with this too.
I guess the only negative that we could find is that while the title is true, you could turn $100 into $1,000,000 if you followed this advice for a very long time, it would be nice if it focused on something a little more immediate too.
Kids are quick to get bored and something more immediate can help keep their attention.
Though we found that splitting this up and mixing it with other (non-financial) material helped to keep their interest throughout. It’s also great value, there’s probably no better financial education for little ones available today.