The first question most people ask me is—why write a book about children and money? Well, I’m a mom and a financial advisor, so these are two of my favorite subjects! I’ve been a Certified Financial Planner for twenty years, and throughout my career, I’ve observed that people’s attitude towards money plays a critical role in their overall financial success and happiness. And our relationship with money starts long before we earn a salary. I believe it starts as early as age three—by observing our parents and how they handle money.
With this in mind, my husband and I taught our daughters every time they earn or receive money—they have three choices to make:
It’s our goal to make our daughters financially literate in a world that is increasingly becoming financially illiterate. High school students are receiving a D+ in financial literacy, according to the test results of The National Financial Capability Challenge released this spring. The study, now in its third year, annually tests 80,000 students on bank accounts, credit cards, taxes, and other age-appropriate financial concepts.
As a busy mom with two active girls, I know how difficult it can be to find time to teach your children these important lessons, which is why I wrote The Heavy Purse. It’s a vibrant picture book about two girls who discover that coins are magical and dream about all the things they can do with their heavy purses.
You can read the book over and over with your children and use it as a guide to start your own family conversations about money and goal setting.
And don’t worry—you don’t have to do this alone. I’ll be here to help support and guide you through these important conversations with your children.
Don’t forget to sign-up for The Heavy Purse newsletter for additional tips and ideas. Financial literacy is my passion, and it’s my goal to create a community of parents raising financially healthy kids.
SHANNON RYAN, CFP®