Making money sense for kids

BOOK NOTES by Joan Ruddiman: The concept of money is rather abstract.

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   The economy is big news right now. Even kids who may not seem to care much about current events are aware of the changes in the financial wind. Kids are one of the largest consumer groups in the nation, estimated by the Wall Street Journal to influence $155 billion dollars in spending a year.
   Parents don’t want to panic their kids with worry over money, yet they also need to convey the realities of why the credit card is cooling off in the desk drawer. The concept of money is rather abstract.
   Bartering goods and services makes a lot more sense, but we are far from that basic economic model.
   Yet kids in today’s high tech world make the connection of how coins and bills, even a plastic card, get them the things they want. Ah, but how does one get the coins and bills in the first place, and how can we convey the value of money, not just its power to acquire things? Books, of course.
   The following is an overview of titles for babies to teens that make the abstractions of money make sense.
   &149;Lynette Long’s "One Dollar: My First Book About Money" is aimed for babies and pre-schoolers.
   In a spiral page format, read aloud partners can introduce the idea of coins and buying power.
   &149;"The Coin Counting Book" by Rozanne Lanczak Williams is a brand new title that provides the next step for children ages 4 to 8. The basic math is there like five pennies to a nickel and all the ways to make a dollar. It is the presentation that is capturing critics’ attention. Life-size photographs of all denominations, including the new state quarters (have a map handy and do some geography!) are accompanied by a rhyming text that is fun to read and repeat.
   &149;Also for the 4 to 8 set is Jim Talbot’s "Coin County: A Bank in a Book." What a clever gift this makes as the reader becomes a saver by filling in the built-in coin slots on each page as they acquire $20.
   &149;Take a rhyming stroll through Talbot’s "county" and discover Penny Candy Shop, the Five-and-Ten-Cents-Store, to Quarter Quarry until you wind up at Dollar Roundup. Just imagine the lessons learned in picking up the penny or dime found on the sidewalk and having a safe place to save it.
   Some classic children’s book authors have good stories that deal with money themes.
   &149;Judith Viorst’s Alexander (of the very bad, awful, terrible day fame) had a tussle with money in "Alexander, Who Used to Be Rich Last Sunday."
   &149;Rosemary Wells brings her humor to the subject with "Bunny Money."
   &149;Jan and Stan Berenstain’s bears are so appealing as read alouds and to early readers who enjoy these books on their own. "The Berenstain Bears’ Trouble with Money" touches the trigger points that many kids and parents confront when dealing with money.
   &149;For elementary aged children or for a precocious youngster who wants to know more about money, the "Neale S. Godfrey’s Ultimate Kids’ Money Book" is a winner. First, note that Godfrey’s name is so prominently displayed in the title because she is the big name when talking about kids and money. She is an expert in family finance who, as a parent, practices what she preaches. Godfrey is chairman of the Children’s Financial Network and is recognized as a frequent commentator on national television.
   "The Kids’ Money Book" provides the history of money, including what bartering is all about (how simple!), to what investing is (how complex!). She explains how credit cards work — with warnings — and defines terms like inflation, recession, stocks and bonds. Kids who are curious about current events are well served by Godfrey who provides the language for them to understand financial news. Each of the nine chapters includes trivia, games, and lots of kid-related examples. Kids like the bold graphics, use of cartoon art and photos, and the user-friendly text. For parents who are serious about sharing financial wisdom with their children, this is a good resource to have on hand when the questions start flowing.
   &149;As a resource for parents, Godfrey’s "Money Doesn’t Grow on Trees: A Parent’s Guide to Raising Financially Responsible Children," should also be in the home library. Godfrey designed a program for kids from age three to their teens that teaches them how to earn, save, and spend money wisely. Godfrey offers age-appropriate exercise and concrete examples to guide parents through tough situations like how to deal with the teenager who wants the designer jeans, or when to start allowances and do you pay up even when the six-year-old doesn’t do his chores?
   These titles are far from dull, and certainly not preachy. Expert information and advice comes packaged in stories and non-fiction books that may make dollars and certainly make sense.
Joan Ruddiman is a teacher and a friend of the Allentown Public Library.