What better way to spend time with our kids than to read a good book together? How about if story time could also be a time of learning about values and good (money) habits? Even better, right? There are two delightful books for younger children that work in tandem with one another to teach kids about setting goals and developing habits to save toward those goals:
The first, “A Chair for My Mother” by Vera B. Williams, is an example of a goal set and achieved. Williams tells the story of a young girl who learns how to earn money and then sets a goal to buy a comfortable chair for her family who lost all their belongings in a fire. The girl starts saving half her earnings in a big jar and eventually saves enough to realize her goal, the purchase of a beautiful red armchair.
The second, “Alexander Who Used to Be Rich Last Sunday” by Judith Viorst, is an example of how impulsive spending can distract us from our savings goals. Viorst tells a tale that illustrates why saving, to quote Alexander, “is hard!” Alexander gets a $1 cash gift from a relative and sets a goal to buy walkie talkies, only he doesn’t develop any kind of savings system, routine, or habit. Instead, he ends up squandering his dollar on a variety of silly and unsatisfying purchases.
These two books can help start or continue a conversation about setting goals and saving with your kids. They are also full of other important money topics to discuss and learn about, like family setbacks and windfalls. Happy reading – and saving!