I've never been good with money and my hope is that my children will be more fiscally responsible than I am. Sad but true. To that end, I was thrilled when we received three new offerings from Money Savvy Generation to review. Their motto is "Helping Kids Get Smart About Money" which is reassuring to see in this spend-happy economy. Founded in 1999 by former investment banker Susan Beacham, MSG's impetus is to teach money management skills to elementary school aged children, reaching them before bad spending habits are ingrained.
We received two new books in the Millionaire Kids Club series: Garage Sale Riches and Putting The "Do" In Donate. The books are softbound and engagingly illustrated, each relating concepts of financial responsibility without being overly preachy or dull. At 32 pages each, they are a bit long for 4 year old Roo, but she enjoys flipping through them while I give her an overview of the concepts. She even wants to have her own garage sale now. Just with her brothers toys…
Roo's favorite, by far, is the Money Savvy Pig. This little oinker is more than just an ordinary piggy bank. It is divided into four separate compartments: SAVE, SPEND, DONATE, AND INVEST. It's a great way to literally show a child where their money is going. It includes stickers so your kid can designate specific goals, such as a bicycle or tv or college.
With Money Savvy Generation, Susan Beacham has assembled a wealth (pun intended!) of resources on their site for parents and educators who want to learn how to give children a good start to their financial health and well-being. In addition to featuring the products they offer for sale, the MSG site has pertinent articles, examples and even a forum to discuss kids and money. You can also check out Susan Beacham's blog for even more information and advice on helping children learn the value of money.