In a growingly complex economic environment, kids today need to develop financial intelligence more than ever—and the best way for them to do this is with the family.
While other books on financial education stick to the basics, Financial Intelligence for Parents and Children delves much deeper and wider by providing step-by-step instructions for engaging in age-appropriate discussions about money and finances with children at every grade level, from preschool through high school. It offers you the tools you need to talk about a wide range of money matters, beginning with the ABCs of financial education and progressively building to addressing more advanced concepts.
Topics covered include:
- Banking and credit
- Borrowing and spending
- College and retirement
- Gifting and estate
- Investing and wealth
- Job and income
- Risk and Insurance
- Taxes and economics
It is vital that children fully understand these concepts before leaving the house and venturing out on their own. This must-have resource delivers a systematic approach to helping your children enter the vibrant world with the financial know-how. They will become productive and financially secure members of the society.
This level targets children up to grade K.
At as early as age three or four, many children will have already witnessed money transactions when they go shopping or banking with their parents. They might have seen money in various forms, such as cash or credit cards. This will be a perfect time to introduce the very basics of FI education.
This level targets elementary school children from first grade to fifth grade.
From the first grade to the fourth grade, children grow significantly and vary widely. As many parents and educators have noticed, some children might be relatively mature at an early stage, while some others might be late bloomers. Some children might show talent in math, while some children might be gifted at reading, and some children might be smart in communication. We don’t expect them to be turning the same page at the same age during their growth.
This level targets middle school children from sixth grade to eighth grade.
Middle-school years are always depicted as tough years for parents and children. The situation for preteens and early teens, though, is not as bad as some might think. In the middle-school years, parents are still maintaining a relatively high level of authority, while the children are trying to push the envelope and to achieve a certain degree of independence. In the children’s eyes, parents still know a lot, though not necessarily everything. In the parents’ eyes, the children still need a lot of guidance and protection.
This level targets high school students from ninth grade to twelfth grade.
Income and taxes: Most teens we talked to have a fairly good grasp of income and taxes. They know how to find a job to make money.
Banking and credit: Many teens may have earned income and paid taxes at this age, or they have at least seen someone doing so. Many of them will also have money in hand at the end.
Investing and wealth: By this point, teens should be familiar with the ways to keep money and make money through savings and credit. The teens should have a pretty clear idea of how to make a good active income through securing a satisfying job and possibly owning a business.
Protection and financial planning: teens should have the basic knowledge on keeping a good job, accumulating savings, and growing wealth. They should be confident that they will never be poor in life as long as they work hard and follow our advice. So what else is there to worry about?