Title: Growing Money: A Complete Guide for Kids
Author: Gail Karlitz, created by Debbie Honig
Publisher: Penguin Group (USA)
Concepts: savings, banks, interest, money, bonds, stocks, markets, interest rates
Review: At a time when young people hear increasingly more about the importance of saving money and avoiding too much credit card debt, this revised version of Growing Money can help them to make smart choices about the different ways in which they can save and invest their money.
This helpful guide begins with some interesting facts about money, including the origin of piggy banks, the cost of printing dollar bills and different coins, and the value of bills that the Federal Reserve shreds everyday ($160 million!). Most of the book then covers the basics about different savings and investment options, including savings accounts, certificates, stocks, bonds, and mutual funds. Readers can even take a short quiz to get a sense of their tolerance of risk and their knowledge of the stock market. The closing material provides some tips on choosing amongst the different options in order to achieve one’s investment objectives.
The clear exposition and real world examples work well to engage readers while they navigate through important concepts in banking and finance. Although gaining financial literacy may not strike young people as an objective they necessarily want to pursue, this book will help them to see more clearly the need for and benefits of sound investment choices.
Review by: Rutgers University Project on Economics and Children