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Five Personal Finance Teaching Gifts for Kids

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One second I’m reading a post in the MBN Forums asking what money related gifts are good for kids and the next I’m reading an article by David Bach suggesting five good gifts that teach kids about money, the stars must be aligned tonight or something.

Without going too much into the story behind each gift, here is a quick hit list of good gift ideas to teach kids about money, segmented by age:

  1. Piggybanks (ages 3-11)
  2. Storybooks about money (ages 3-8)
  3. Monopoly (ages 8 +)
  4. Beginning Personal Finance Organizer (ages 13-19)
  5. Stock (all ages)

If someone gave me a “Beginning Personal Finance Organizer” when I was a teenager, I probably wouldn’t be all that into it… :)

Source: CNN Money

{ 6 comments, please add your thoughts now! }

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6 Responses to “Five Personal Finance Teaching Gifts for Kids”

  1. TMT says:

    jim,

    Great list!

    For more Piggybank ideas, you might want to check out: link

    I’ve recommended the Money Savvy Pig to some friends in the past and they’ve had good experiences using it with their kids.

    Cheers,

    TMT

    [Edit: I just made them live links]

  2. David says:

    I don’t know how much it taught us, but we were always given savings bonds for birthdays and holidays, along with our gifts. We thought nothing of it at the time, but when we got older, they sure did come in handy.

    Just think how much $50 savings bonds every year for 20 years would help out that child in the future!

  3. What if the Organizer was sponsored by some type of role model? For example, maybe they could get LeBron James to put his face on the outside of the Organizer with a catchy tag line.

  4. Golbguru says:

    Jim, the mention of Monopoly reminds me of my childhood. Here is a link to an old article about that experience:

    http://www.thetaoofmakingmoney.com/2006/09/23/40.html

    I would also recommend adding a real bank account to the list of 5 you mention.

  5. mbhunter says:

    Monopoly is a great choice but it needs to be played according to the rules. When people water down the rules with stuff like double GO money, free parking, no auctions, as many houses as you want, etc., a lot of the lessons are lost.

  6. financialwizardess says:

    LOVE Monopoly. They make a Monopoly, Jr now that is great for ages 4+. I also recommend the game of Life. Helps reinforce the connection between education, income, and what kind of house you get to buy (not to mention who wins the game)!


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