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Question: So many people seem to have financial problems
these days. How can we do a better job educating our
children?
Answer: Educating Americans to become better stewards of
money is a challenge for everyone. Educating children is a
good place to start. Laurel Kubin, Colorado State University
Extension Larimer County office director,
suggests that children's books are a good way to communicate
with children about money.
Children's books teach money management concepts to
youngsters of all ages. Preschool children can learn from
books such as The Berenstein Bears Trouble With Money. A
child in first-to-third grades would enjoy learning from
Arthur's Funny Money. Children who can count and use a
calculator could learn money skills from Alexander, Who Used
To Be Rich Last Sunday. These are examples of the many good
books on the market that a parent can use to teach money
skills.
What should a parent look for when selecting such a book?
Choose books, which -- through words and pictures -- show
cultural sensitivity. Consider the age for whom the book was
written. A list of age-appropriate books can be found at the
National Center for Financial Education at
www.ncfe.org/catalog/cat.html. At this site, you also can
find books, games and videos for older children. At
www.kidsmoneystore.com, parents can find resources to help
teach money management to their children.
Read books to or with your children. Consider that each
child has a preferred learning style. Hearing the book as it
is read, seeing the pictures that reinforce the message and
touching items that relate to the story will help the child
learn. To get a sense of your child's learning style, use
the assessment on-line at www.parentcenter.com/quiz.
Use the concepts presented in books to start a family
discussion about your family's resources, expectations and
goals. This lets the child understand your earning,
spending, saving and sharing goals. A whole new world of
family communication will develop. Use hands-on examples,
such letting your children watch you write checks to pay the
bills each month. Allow the child to help put the check in
the envelopes for mailing.
Financial literacy is a key component of everything from
developing self-esteem to maintaining successful
interpersonal relationships. Parents can use books to help
their children grow up to be responsible, clear-thinking
individuals, who can make wise decisions about the use of
money.
For more information, contact your local
Colorado State University Extension office.
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