ABC of Financial Intelligence for Kids

Title: ABC of Financial Intelligence for Kids

Author: Gbonjubola Sanni and Adeolu Akinyemi

Publisher: WOW Publishing

Number of pages: 49

Type of Book: Non-Fiction

Age: 8+

Buy it here: https://www.amazon.com/ABC-Financial-Intelligence-Kids-Book-ebook/dp/B01BNLXC22 ; Laterna Bookstore, 13 Oke Awo Street, Victoria Island, Lagos; http://www.iqrabooks.com.ng/details.php?code=1463750715

Price: $8.00; N1000

MY SUMMARY

This book introduces readers to the joys, dos and don’ts of financial freedom. First off, it defines terms like currency and money and gives a short expo on the history of money. Then it moves on to the concept of financial freedom and how to make and manage money as well as the creation of goals/visions for the future. It also introduces kids to different formulae for distributing income. The method given here involves dividing up income into six jars. The God Jar (10%), The Play Jar (10%), The Project Jar (10%), The Education Jar (10%), the Freedom Jar (10%) and the Necessity Jar (50%). Does your child know that having a single source of income is dated? According to the authors, to maintain a good standard of living and eventually gain financial freedom, one needs to have at least 2-3 sources of income. Does your child know that he/she can start earning income NOW? Today? In today’s Nigeria, this book is a must-read for every child and some adults. tongue in cheek

THUMBS UP AND DOWN

UP: This book is a treasury of tips on financial management for kids. Replete with information on making and managing money, it also teaches readers how to set SMART goals, discover their gifts, strengths, weaknesses and passions. One of the highlights for me is the Vision Board, here described as a board containing images (photos, newspaper and magazine cut-outs, etc.), tokens, and all things related to a person’s vision, goals, dream (who you want to become, what you want to do or what you want to have). Every child needs a Vision Board and a map leading to the Board. I recommend this book for every child.

DOWN: There are quite a few typos, some grammatical errors as well as the use of ‘Nigerian’ English.

RATING

4 Stars

TRIVIA

When was the Naira created? 1 January 1973.
These were used as money ‘legal tender’ in ancient times: Cowries, Cattle, Whale’s teeth, etc.
Investing is? Putting money into a project with the expectation of getting some more money back within an expected period.
What is a Vision Board? A Vision Board is a poster board with images and little objects related to your vision (what you want to become, what you want to have, what you want to do, etc.)
Financial Freedom = PI > E: We achieve financial freedom when our Passive Income is greater than our Expenses.
Passive Income is? Income earned as a result of work done in the past/investment. Examples of Passive Income are rent, royalties, dividends.

Visit the book here: https://web.facebook.com/FinancialIntelligenceForKids/?_rdr and here: http://thefinanciallyintelligentkid.com

CHALLENGE: ABC of Financial Intelligence for Kids

CREATE (WRITE a Story/Poem OR DRAW)

Write 300 words on the following: a. What do I want to achieve/be in the future? b. What gifts/talents do I have? c. How will I achieve my dream/goal? (8 – 9 year olds)

Create a Vision Board (10-12 year olds)

Send your answers to ugochinyelu.anidi@gmail.com

Entry requirements: Entrants must be within the 8-12 age range. The first correct entry will be announced on this page and will win a copy of this book.

Answers must be submitted before 12:00am on Sunday, July 3^rd 2016.

I hope you enjoyed reading today’s post.