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Sharyn
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This should probably be under math but I was thinking more in terms of life skills. Has anyone come across any books from a Catholic perspective that cover money management for children? I can find protestant books that cover this but would love to know if there is a Catholic one available.
We are about to give pocket money to our kids for chores, but I want them to get off to a good understanding of how to be wise with their money before we start. At the moment they are only contemplating all the toys they will buy. I want to broaden their idea's to include saving and giving.
Actually if I could just find a book that educates me on how to guide them, that gives me some idea's that would be great. Of course if anyone would like to share what they do with their kids... 
Thanks so much!
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Sharyn
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Here's a book for adults that seems to cover what I'm interested in 7 Steps to Becoming Financially Free: A Catholic guide to Managing your Money by Phil Lenahan
Has anyone read this? It does seem to have a chapter on children. I'd just love to know if there is a book along these lines for children.
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CrunchyMom
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Not exactly what you are looking for, but my husband really liked the book First National Bank of Dad.
It is secular and written for parents, not children. But, we really like the concept for teaching children the value of saving. He actually allows the children to put money into "his" bank, which earns interest at a much higher rate than a real one. His point is that children will not be able to understand the concept or value of investment when they are only earning $.50 interest each year.
There comes a time, too, where his kids are old enough and making enough money that their savings is no longer eligible for this higher interest earning via him, but he then creates his own stock market where they can invest with him and things change according to how the actual stock market is doing. This also teaches them the risks of investing.
Anyway, just thought I'd throw it out there since it made a lot of sense to us even though it is not a Catholic or Christian source.
I also realize that "tithing" can be a very Protestant teaching, but ten per cent to charity seems a good rule of thumb for our family, and we do encourage (and if they were getting regular funds, I think require) that they give some of their money away to the Church or charity.
The gospels and saint stories are full of examples of giving alms, and coming up on Lent, studying the corporal works of mercy would afford a good opportunity of approaching this from a Catholic perspective. I think you could probably use a secular or even Protestant source to help you as parents figure out your plan and policies and then supplement with various Catholic sources when it comes to applying specific principles.
Sorry if that's an awful lot of what you aren't looking for 
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mom2mpr
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I enjoy the perspective of this guy. I don't use him as a financial planner--not enough $$  --but I like hearing a different tact from what I usually read in papers and financial planning books and articles.
I just got this article on my e-mail and it has me thinking, a lot.
http://www.emarotta.com/raising-money-savvy-kids/
He is not Catholic, that I am aware of, but he does talk about tithing or giving to charity in some of his budgeting articles.
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Mackfam
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We're Dave Ramsey fans here. We've been listening to him for years. Dave Ramsey's stuff is written from a Christian perspective - but it's from a basic common sense Christian perspective; there aren't any specific "Protestant" theology driven ideas that I've found. I've read Phil Lenahan's book and it is good, but I didn't find it as helpful, practical or down to earth. We needed/wanted/were looking for specifics...nitty-gritty, and I guess I just appreciate Dave Ramsey's no-nonsense style as well.
He has a lot for kids in his online store. I don't have any of the young kid stuff, but we will be using Generation Change for our teen as part of financial preparation for her as she begins to manage her own money.
Dave mentions in one of his books, and I can't remember if it's Total Money Makeover or Financial Peace because it's been awhile since I read them...but in one of them he talks about how important it is to set a good example of stewardship of monetary resources to kids to help them and let them manage money as they grow so they can see the consequences of budgeting and learn need vs. want. He talks about giving your older teen the $$ you set aside in your budget for their clothes/needs and letting them be in charge of spending it...of course with help and guidance. This is done so they can learn these skills BEFORE they get out of your home and find themselves with $$ and no clue how to budget, how to discern a need from a want, how to wait and save, how to tithe...and are tempted by the invitation of a jillion credit card offers. Anyway...I'm going on a bit and I know you asked about younger ones....
We do give our children a small allowance for the chores they are expected to complete here. There are requirements they must meet though:
Complaining and whining about chores = no $
Chores must be completed before 2:00 on Saturday or = no $
All chores must be checked and be thoroughly complete or = no $
There are no advances or credit lines.
We pay enough so that some $ is set aside to save, some is set aside to charitable giving, and some is their spending money...which they must save if they want anything special, that does NOT come from the savings account. It has helped them to be frugal and creative with their money. It's also helped them see that if they can't pay for an item outright, they can't purchase.
Also, you might find some great advice here on the "buck for the fund" system Angie and others (including our family) use when chores are not completed or must be done by Mom.
Hope something here helps!
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Jen Mackintosh
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Aagot
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How about "What is Wealth" available from CHC?
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Sharyn
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CrunchyMom wrote:
| Sorry if that's an awful lot of what you aren't looking for |
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Not at all Lindsay, I'm happy for all suggestions, I was just hoping that there might be just one book out there that perfectly covers everything I'd like. Catholic, for kids, with diagrams, and printable things to use But more often than not there never is is there. Looks like I'm going to have to do some reading and some work It's certainly a subject I could do with doing an in depth study of.
I remember reading this article by James Stenson years ago Danger signs; Families headed for trouble
I don't know that I agree with Mr. Stenson that the sporting family is the only possible opposite of the consumerist family.
I also don't believe we are Stensons consumerist family to the degree listed, but I do wonder if we are on the border of it.
What has worried me is my dc seem more 'born to shop' than 'born to serve' at this point, and I'm wondering if that's because of their own personalities, their age and the fact that we are just starting to learn about how they should manage their money, or... If I need to have a look at some of the things we are doing because they teach consumerism  Any thoughts on this anyone?
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Sharyn
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mom2mpr wrote:
I enjoy the perspective of this guy. I don't use him as a financial planner--not enough $$ --but I like hearing a different tact from what I usually read in papers and financial planning books and articles.
I just got this article on my e-mail and it has me thinking, a lot.
http://www.emarotta.com/raising-money-savvy-kids/
He is not Catholic, that I am aware of, but he does talk about tithing or giving to charity in some of his budgeting articles.
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Interesting article. I was thinking this last night actually. In order to teach, you must be an example. That's a challenge indeed. I'm so thankful we got into homeschooling, it has changed our lives. And I thought I was just going to be teaching math, spelling, science etc.
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Sharyn
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Mackfam wrote:
| He has a lot for kids in his online store. I don't have any of the young kid stuff, but we will be using Generation Change for our teen as part of financial preparation for her as she begins to manage her own money. |
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Thanks for this link Jen! Do you think Generation Change would be too advanced for an 8 and 10 year old?
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Sharyn
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Mackfam wrote:
Also, you might find some great advice here on the "buck for the fund" system Angie and others (including our family) use when chores are not completed or must be done by Mom.
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Thanks so much for this link too! There are going to be some big changes in this household this year! Lately I've been having so much just fall into place in terms of idea's of how we need to be doing things. I just can't wait to see how these adjustments help our family.
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Sharyn
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Aagot wrote:
How about "What is Wealth" available from CHC?
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Fantastic! And it's an e-book! Thanks so much!
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Mackfam
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Sharyn wrote:
Mackfam wrote:
| He has a lot for kids in his online store. I don't have any of the young kid stuff, but we will be using Generation Change for our teen as part of financial preparation for her as she begins to manage her own money. |
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Thanks for this link Jen! Do you think Generation Change would be too advanced for an 8 and 10 year old? |
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I don't have it yet, Sharyn; I wish I could give you more of an idea based on my review, but I can't yet. Based on the reviews I've read and some previews I've seen online, I'd say that it's really geared more toward the student with an eye toward high school graduation and how they can prepare to manage their money for the next phase of their life post-graduation. So my guess would be that it's probably too much for 8 and 10 right now. Sorry....I know that's not a help for you.
After posting on this thread a few days ago though I took a closer look at the offerings for younger kids at the Dave Ramsey site and thought that Financial Peace Jr. looked nice. It seems like it would be a good fit for the ages you're looking for.
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Jen Mackintosh
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Christine
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I know that you asked for a book recommendation, but I am going to recommend Family Mint. It's a website that was designed specifically to help children budget and appreciate money. One of the co-founders is a Catholic homeschooling father of nine children. 
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kristacecilia
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We have the Dave Ramsey Financial Peace Junior set. It is really for kids roughly 6 and up, even though it says three. We do it with my almost-seven year-old and it works well. It teaches kids to work based on commission (although stresses that sometimes we work because we are part of a family or because it is a generous and kind thing to do, even if we don't get paid). Then it shows you how to take the money you earn and divide it into three envelopes- save, spend, give.
The only thing I don't care for is that he encourages the save part to be for savings for a large purchase- a video game, etc. And the spend part to be for spending money.
Our seven year old doesn't really have opportunity or need to spend on a regular basis, so we do savings is an emergency fund, spending is savings for toys and things he wants, and giving obviously goes to charity (he loves to put it in the basket on Sunday.)
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I blog at http://kristacecilia.wordpress.com/
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4Real Forums : Mothering and Family Life
Topic: Catholic bk - money management for kids ?
