Personal finance, savings, giving, banking, entrepreneurship skills must be taught to our children. Author Peter Greer, in his book Watching Seeds Grow, says: “. . . if we do not start good habits early, they are much harder to form later. . . .No one wants their child to graduate high school making the wrong financial decisions half the time.”
Watching Seeds Grow was written by Peter and his son Keith to guide children and parents in entrepreneurship, but it provides much more. One third of this book was written for kids by a kid about his own business endeavors (with practical tips about how to start a business). About another third of the book was written by a parent for parents and offers many practical ideas for teaching children and teens about financial literacy, savings, investment, generosity, and starting a business. The final third of the book is filled with sample letters, forms, charts, and templates.
While the book did not meet my expectation in appearance and format, it surprised me with great stories and valuable insights and resources. I think this book would be appropriate for introducing 4th-6th graders to finance and business.
The authors include some references to financial advisor Dave Ramsey (and Dave’s daughter Rachel). I recently completed Dave Ramsey’s course Financial Peace University and highly recommend it. I also recently noticed that NorthStar Academy online school is offering a one semester Personal Finance course using Dave Ramsey’s financial resources for high school students.
Help your children and teens get off to a great start in life!
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What about you? How do you teach personal finance to your children and teens?