Many parents wonder about how to teach kids about money, but one of the most interesting and rewarding ways to do this is by teaching them to invest it! This can either be done through a custodial brokerage account or by starting a business. Books like the Tuttle Twins series are the perfect launchpad to rocket your kids to future success!
Start with a Foundation for Success
The Tuttle Twins series will help you discover how to teach kids about money through a number of books that teach kids about inflation, kids’ books about entrepreneurship, and other related topics. All of the Tuttle Twins books tuck lessons inside a thrilling story your kids will remember forever — which will help them retain what they learned by reading it!
Some Tuttle Twins books that teach about money and entrepreneurship include The Tuttle Twins and the Creature from Jekyll Island and The Tuttle Twins and the Messed-Up Market. In The Creature from Jekyll Island, the twins discover a creature that’s been stealing their grandparents’ hard-earned savings — and even controlling them without their knowledge.
The Messed-Up Market is one of a couple of kids’ books about entrepreneurship you’ll find in the Tuttle Twins series. The twins decide to invest their money in a Children’s Entrepreneur Market and discover the challenges of operating a business and the risks and motivations behind financial decisions.
Launch a New Business
As you learn how to teach kids about money through books like the Tuttle Twins series, you’ll become ready to move onto the next stage. You can pique your kids’ interest in entrepreneurship from a young age using kids’ books about entrepreneurship and by helping them develop skills that could become a business.
Help your kids come up with age-appropriate business ideas, like a lemonade stand for younger kids or a lawn mowing business for older kids. It can be tempting to just cover the expenses of operating your child’s business yourself, especially when it comes to startup costs, but it’s important for your kids to understand the investment aspect of owning a business. For example, explain to them the start-up costs of operating a lemonade stand. Take them to the grocery store to see how much lemons and cups cost. Help them either use money from their allowance to start their lemonade stand or charge them a percentage of each cup they sell, explaining how you’re investing in their business alongside them.
In the case of a lawn mowing business, charge them a percentage of what they earn as a rental fee for your equipment.
Your kids can come up with even more creative business ideas, so encourage them to get started and help them along!
Open a Custodial Brokerage Account
Once your children have made some money from their endeavors (or from saving up their allowance), it’s time to teach them about investing. You may even learn alongside your kids if you’ve never had a brokerage account before.
After opening up a custodial brokerage account, discuss the stocks your kids want to buy. Encourage them to buy businesses that own the brands they love, explaining that the most popular names are often either the best-performing stocks in the short term or the least risky stocks with the strongest long-term returns.
Show your kids how to look at the history and year-to-date gains or losses of the stocks they’re interested in on sites like Trading View. This will help them make decisions about which ones to buy. Educate them on companies that make the components of their favorite devices, like NVIDIA, and show them how much that stock has exploded in recent years.
Keep Books Like the Tuttle Twins Series at Hand
Activities are important when it comes to really ingraining lessons into your children, but books will not only establish a foundation for those activities but also maintain what they’ve learned. The Tuttle Twins books are an important part of the journey as you learn how to teach kids about money.
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