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"The Kids' Money Book"—A Great Educational Tool That Teaches that Money is Not Just For Spending

Cindy Hewitt is a retired teacher with a passion for children's literature. Read-aloud stories add quality to a child's life experiences.

What Do Your Kids Know About Money?

We have a generation of children who have more choices for spending their money than ever before. Most children receive an allowance and they are bombarded with things to spend the money on. But how many families are teaching that money is not just for spending? Jamie Kyle McGillian's new book, "The Kids' Money Book" is an excellent tool for having the conversation with children about new lessons in money. This entertaining financial guide for children contains valuable information about creating a budget, attitude adjustments about what money can buy and what it can't buy, how children can make money, and ways to grow their money.

McGillian writes that knowing about money and the tools needed to use it wisely are more important now because the onset of the recession in 2008 and its effects on people. Some families are still feeling these effects and she has updated her book from her first publication 13 years ago to include new information about saving, spending, earning, and investing.

Do your children know the difference between needs and wants? What is the history of money? Are they able to create a budget with their allowance or with money that they earn by doing jobs in the community? All of these topics are covered in this easy to read and engaging book. The topics of credit cards and even the stock market are also covered. Colorful, cartoon-like illustrations by Ian Phillips. add to the appeal of this helpful book. McGillian's "Mind Over Money Test" at the conclusion of her book will give children confidence that they have "money smarts" after reading "The Kids' Money Book". An informative list of additional resources with websites is also of interest.

"The Kids' Money Book" was published by Sterling Children's Books, a trademark of Sterling Publishing Co., Inc. and has an ISBN of 9781454919773. It is available at Barnes and Noble.

Updates in New Book for Teaching Children about Money

What do your kids know about money?

What do your kids know about money?

What do I spend my money on?  Needs vs. Wants

What do I spend my money on? Needs vs. Wants

Is using an ATM always a good idea?

Is using an ATM always a good idea?

Sample budget for allowance or money earned

Sample budget for allowance or money earned

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Get Acquainted with Author Jaime Kyle McGillian

Jamie Kyle McGillian is a free-lance writer and also works as an editor for "Westchester Parent" in Westchester, New York. She has updated her "The Kids' Money Book" to keep pace with her two children's spending habits and knowledge now that they are teens, and for all the other parents to teach new lessons about money in our world today. She has also written and self-published a book for the young adult audience and an activity book for preschool children.

Influence of Advertisements on Children

Statistics show that children view more than 40,000 advertisements on tv and now even more on the internet. The ads are targeting younger children who do not have the understanding that the ads are only for selling. Children take these ads at face value. They do not have the skills to evaluate the ads for content. The ads are shown during favorite movies and television shows. Children who are younger than 8 years of age are particularly vulnerable. Young children are now watching television in their bedroom with no interaction with parents who might be helpful in an evaluation of an advertisement.

Pediatricians and educators recommend that media literacy be a part of a school's curriculum beginning in kindergarten. Money literacy is now being taught in many schools now beginning in kindergarten.

Advertisements Bombard our Children

What is the ad's purpose?

What is the ad's purpose?

Money and Giving

Many community organizations are now sponsoring family activities that also present the opportunity for children to learn to give back with some of their money. The holidays offer the opportunity for children to contribute money to worthy organizations. McGillian has included an informative list of reputable charitable organizations that children will be interested in Some creative ideas for giving are also included in the chapter on giving.

Giving Should Be Part of Children's Money Vocabulary

Giving is a part of money vocabulary

Giving is a part of money vocabulary

Family discussions about money

Fun Questions about Money Knowledge

For each question, choose the best answer. The answer key is below.

  1. What should come first when deciding how to spend money?
    • Needs
    • Wants
  2. What is the recommended amount for an allowance?
    • One dollar for every year of age
    • $.50 per year of age
  3. What makes money cool?
    • You use it to help someone.
    • Someone owes you money.
  4. What are blue-chip stocks?
    • Stocks from consistently profitable companies
    • Certificates with blue trimming
  5. What is impulse buying?
    • Unplanned purchases
    • Planned purchases

Answer Key

  1. Needs
  2. One dollar for every year of age
  3. You use it to help someone.
  4. Stocks from consistently profitable companies
  5. Unplanned purchases

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