Why I read it: I was raised in a house where we never spoke about money so I was intrigued by the idea of raising “blue chip kids” who could reach adulthood with a full knowledge of financial concepts. My secret hope is that they don’t make any of the financial mistakes I have made. Author David Bianchi wrote the book for his son, who is close in age to my kids so it seemed perfect.
Key content: This book is so much more than a lesson on the stock market. It’s a plain language guide to all things financial from currency exchanges to mutual funds to loans. And because it’s written for kids, the content is organized in bite-sized sections. I read it together with my 11-year-old and we both came out smarter about money.
Things I learned:
- Understanding financial terminology is the first step in becoming more financially confident
- When you’re teaching kids to save some of their allowance, the stock market can seem out of reach but kids love the concept of buying a “piece” of their favorite company and watching their investment rise and fall
- There are so many daily opportunities to involve kids in financial discussions such as grocery shopping or paying the bill at a restaurant
Uncomfortable moment: When I was tempted to skip the chapter on high-frequency trading but my son said he would help me with the math.
Eureka insight: It’s never too early (or too late) to become smarter about money.