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Unlike the school where we have a curriculum and know that we know to begin from (ABC, DoReMe) for financial literacy , increasing our awareness about money, we don’t have much clue or help or guidance except our experiences. The good or bad part of experience or life is  Experience is a hard teacher because she gives the test first, the lesson afterwards. While we have books, blogs about financial concepts for adults sadly information related on making Kids aware of Money are limited, especially focused on India.  In this article we have tried to collect information about books written for Indians kids (yes we do have, countable but not zero). RBI also has undertaken Project Financial Literacy and comic books to teach banking concepts to kids. Bemoneyaware also has activity books and book for kids, which are also discussed here.
 If you don’t teach your kids how to manage money, somebody else will. Is that a risk you want to take? Teach your kids how to handle money now, and they won’t end up with money regrets later on in life. You can give them the head start you wish you’d had. 

Reserve Bank of India’s Books Children on Money

In India, The Reserve Bank of India(RBI) has undertaken a project titled “Project Financial Literacy”. To go to RBI Financial Education website Click here. The Objective of the project is to disseminate information regarding the central bank and general banking concepts to various target groups, including, school and college going children, women etc.  These can also be downloaded in pdf format from RBI website Financial Education and RBI
  • Raju introduces banking concepts: Raju and Money Tree,  Raju and Magical Goat, Raju and Sky Ladder
  • Money Kumar familiarises with the role and functions of the Reserve Bank of India : Money Kumar and Monetary Policy , Money Kumar and Caring for Currency,
  • Short story book  Old Man Monetary :Adventures for youngster about evolution of currency.

Books about Money for Children by Indian authors

Books written by Indian authors for kids teaching money are (in no particular order):
  • The Art And Science Of Teaching Children About Money by Amar Pandit  Interview with Amar Pandit:Don’t try to make your kid the next Warren Buffet, at rediff.com , This book has been written in a very easy to understand format and gives parents a detailed script while guiding children towards Financial Literacy.
    • When should you start teaching your kids about money?
    • How should you introduce money and financial concepts to your children?
    • What should you teach beyond the concept of a Piggy bank?
    • What and how to teach children of different age groups?
    • How to handle peer pressure?
    • Basic financial concepts that every parent must teach children.
    • How to answer some of the uncomfortable questions children have?
  • Bill And Penny’s Money Adventure by Amar Pandit : The Bill and Penny series of entertaining short stories will help your child easily understand the value and uses of money. The book will help you understand the importance of money, why we have it, how we get it, how we can grow it and what else can we do with it with just a little thinking at flipkart Review by Subra’s daughter at subramoney.com,
  • Happionaire’s Money Game by Yogesh Chabria  The story of a young boy and his adventures in saving, investing and money.  It was released on 1 Aug 2009.
  • So you wanted to know about economics by Roopa Pai : Why doesn’t the government simply print more money so that everyone has enough? Who decides that seventy Indian rupees equal one American dollar? How do you figure out what to price a glass of lemonade at the Diwali Mela? Are economists really as boring as they look? For answers to these and other mystifying questions, look no further than this fun book! “If you never had the time to plow through dreary Economics textbooks, but still want a flavour of its key concepts, illustrated with examples from daily life, this is the book for you.’—Raghuram Rajan, former Governor, Reserve Bank of India.
  • Let’s Learn About Money by Bemoneyaware: We have released book for children. Book is targeted for 10 year old. The topic covereds in the book are What is money? How do people make money? How is Money spent? What are Banks and how do they work? What is ATM, What are cheques, how to write a cheque? What are plastic cards, what are debit and credit cards? What happens when one swipes the card? Rich people of the world, Rich people of India  History of money, Mythology and money. More details of the book are at Bemoneyaware’s Book on teaching Money to Children

Workbook on Money for Children

Let’s Learn About Money Workbook has activities for young adults aged 8 and above. It aims to make the future generation aware of money and enrich them by making them hands-on with money activities. You can know about the workbook here.

You can buy the workbook for Rs 50 by clicking here. It is link to instantMojo payment site. The workbook is a pdf which will be mailed to you after the purchase.

Included in the book are activities such as matching, fill in the blanks, crossword, identifying. Activities are on following topics:

  • Know your money — the introduction of money, Indian currency, the currency of the world.
  • Earning money — how do people earn money, different professions, the skills required, how much money, Business, Profit and Loss.
  • Spending money — Needs and Wants, Goods and Services, expenses of the family.
  • Saving money — why saving is necessary, piggy banks, banks, ATM, interest, passbook, cheques
  • Credit Cards –what are credit cards, how they work, credit card payment.

Games for Children to learn about Money

Funskool Games Monopoly India Edition Family: Monopoly is a famous property trading board game. A game of luck, chance and wheeling and dealing Move around the board buying and selling properties. A perfect game for family fun and one you can use to teach children Geography, Economics and Money. It was awarded as Game of the Century by the TRA (Toy Retailers Association). Details about How to play,what can you learn  in our article About Monopoly Board Game and Lessons for children, Money,Economics, Geography

The Game of Life by Funskool India Ltd. is a fun game of choice and chance. Spinning the wheel of fortune gives a chance to experience the entire course of life, from education to retirement. It is a great way to instill good values in children and teach them about helping others, getting educated, making career choices, the importance of insurance and money management. The game also throws some light on the stock market, which is a good way to introduce children to making investments and calculating risks.

What Children should know about Money at different ages: Financial Literacy for Kids

Kids these days are so different, so much exposed to so many things, have so much power -they have say in deciding car, computer etc, so much peer pressure and so much mired in debt.

What should our kids know at different ages

Kids Age of 5-6 years

Kids Age of 5-6 years

Kids 7-9 years

Kids 7-9 years

Kids and Money at 10-12 years

Kids and Money at 10-12 years

Kids and Money at 13-15 years

Kids and Money at 13-15 years

Kids and Money at 16-18 years

Kids and Money at 16-18 years

We have successfully conducted workshops for kids in schools such as NPS(HSR Layout), Primus in Bangalore. If in Bangalore and interested for group of 10 kids you can contact us at bemoneyaware@gmail.com

Related Articles :

In this article we have tried to collect information about books written for Indians kids. How do you teach your kids about money? Do assume that they will learn about it by themselves?  What money habits are you passing to your children? If you know some good books for children please let us know we shall add it to the article.

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