It’s no secret that personal debt is something of a problem for the consumer driven society that we are. Credit cards, store cards, loans, buy now pay later, overdrafts… the list goes on and they all amount to one thing – spending money that we don’t really have. This in turn contributes hugely to growing debt problem facing a number of Britons. In fact, the average adult in the UK now has personal debt of over £30000 – or 133% of their annual income.
In a bid to curb this monstrous debt habit, the experts are advising that children should be taught how to manage their money. And it’s with this in mind that the Associated Press report today on three books about finance for children.
The Berenstain Bears’ Trouble With Money by Stan and Jan Berenstain is a picture and story book for young children aged 4 – 7. The Berenstain Bears are popular characters in children’s books and have been used to deal with a number of issues previously. And this is not a new book either – it was first published in 1983.
The Teen’s Guide to Personal Finance by Joshua Holmberg and David Bruzzese is a newer offering having been published for the first time last year. This offers information for young adults, much like the third book, Prepare to be a Teen Millionaire by Kimberly Spinks-Burleson, Robyn Collins.
Teaching Money Management is being recommended by personal finance experts who believe that educating younger people now can potentially prevent them from becoming debt ridden adults.