Children's Books. There's the classic Aesop's Fables, 365 Bedtime Stories, Children's Bible Stories, and many more. I grew up hearing of these books myself. The stories are beautiful and filled with moral lessons that will help in the development of a child's character.
Character no doubt is important as one grows up into adulthood. So is the subject of money. So why not start reading financial books to your child as early as 3 years old? Surely the effect of that would be interesting.
We have read only 2 financial books this year alone:
- Rich Dad Poor Dad
- Cashflow Quadrant
Both books are by Robert Kiyosaki. What can I say, I'm a big RK fan.
After those two books, I noticed a slight change in my sons' vocabulary. I have four kids ages 13, 8, 6 (boys) and 3 (a girl). I have caught the older boys more than once talking among themselves and using the following words in the right context:
Ed the Employee
Bill the Business owner
I also noticed a shift in their interest. After the two financial books, I thought we should read something else, something more age appropriate for them. So I picked Diary of a Wimpy Kid and would alternate that with selected stories from the Bible.
Well, they started to miss the financial books after a while. Not that they didn't like Diary of a Wimpy Kid and Bible stories, but they wondered if I would read a financial book to them again.
They said they liked hearing about persons who did things differently, like Steve Jobs, Mark Zuckerberg, Henry Ford and Ray Kroc. They also enjoyed writing reflections about them afterwards.
Will reading financial books to my kids enhance their chances at success later? Only time will tell. But here are a few things that I do know:
1) I was not aware of the words asset and liabilities until I was an adult
2) I had no idea what investing was until I was an adult
3) I was not motivated to improve my financial well-being until I started reading
So doesnt it then follow that the younger you know, the earlier you will be better equipped to make life decisions?
Aren't financial decisions just as important? So many adults feel alien to financial words. They get a headache and would rather not talk about it. I prefer to have my kids grow up with the mindset of inventors and investors. People who are self-learners, creative thinkers and doing things differently. That is the age we live in now.
For our next financial book reading I'll be choosing to read to my kids a local financial author. It will be interesting to see what the kids' feedback would be.
Do share your comments below and like this post if you agree.