[August 22, 2011] Books, sites, apps help kids learn money skills Tweet Aug 22, 2011 (McClatchy Newspapers - McClatchy-Tribune News Service via COMTEX) -- Normally, when your kids hear something about a double dip, they're thinking ice cream cones with a swirl on top. But this summer, they might have been hearing another meaning: A second round of the recession. Economic struggles, wild stock market swings, bad news on the jobs front _ it's been a summer that can leave kids' heads spinning if they're picking up on these morsels in the news. I get questions weekly from parents looking for resources that can make it easier for youngsters to understand what's going on in the financial markets, the economy and the business world. They're also looking for tools that can teach their children to understand, talk about and manage money. Luckily, there are numerous resources, many free, that can help college students, teens and grade-schoolers begin to connect the dots. With that in mind, I recruited some financial education experts around the country to share their personal favorites about money. A sampling of books, websites and phone applications that offer more substance than style: BOOKS: Even a cursory review of The Berenstain Bears books by Jan and Stan Berenstain will uncover numerous titles that teach money lessons to young children. Books such as the "Trouble with Money" and "Dollars and Sense" are among the favorites of Susan Beacham, founder of the Chicago-based Money Savvy Generation. For middle-school children, she recommends "Lawn Boy," by Gary Paulsen, and for high school and college-age readers, she likes "Welcome to Your Financial Life," by Virginia and Kenneth Morris. Megan O'Neil, a finance educator at the University of Maryland extension service, suggests Chad Foster's "Financial Literacy for Teens." At about 100 pages, the book is "not overwhelming at all so that a teen may actually read it," said O'Neil. WEBSITES: Free is good, which is one reason why YahooFinance.com is a popular site for looking at stock market movers and what's behind the mood swings on Wall Street. The Morningstar.com mutual fund research site also has an array of free market tools and commentaries about the stock market. Unfortunately, you have to pay for the really good stuff, including Morningstar's proprietary ratings information. Consider the 14-day free trial period. Sam Renick, founder of the Los Angeles-based financial education company It's a Habit, likes the interactive games and other kid-friendly information on Consumer Jungle at http://www.consumerjungle.org/. Check out the Fraud of the Month exercise. Finally, did you know billionaire investor Warren Buffett has a cartoon and online community geared to money? It's called the Secret Millionaires Club. Find it at http://www.smckids.com/. APPS: There are many free and low-cost apps for smartphones that teach kids about money. Gyutae Park, with the Money Crashers personal finance blog, offered several favorites, including P2K Money and Kids Money, both available for Apple devices. Kids Money, for example, teaches young children about saving and planning for long-term purchases, such as a bike. ___ ABOUT THE WRITER Steve Rosen is assistant business editor at The Kansas City Star. Readers may write to him at: The Kansas City Star, 1729 Grand Blvd., Kansas City, Mo. 64108; email: [email protected]. ___ (c) 2011, The Kansas City Star. Visit The Star Web edition on the World Wide Web at http://www.kansascity.com. Distributed by McClatchy-Tribune Information Services. _____ TO SUBSCRIBE TO THIS COLUMN This column is sold separately and is not included in your MCT News Service subscription. To subscribe, please call Rick DeChantal at Tribune Media Services, 800-245-6536 or [email protected]; or, you may purchase individual columns a la carte on MCT Direct at www.mctdirect.com. Outside the United States, call Tribune Media Services International at 1-213-237-7987 or e-mail [email protected]. For reprints, email [email protected], call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. [ Back To TMCnet.com's Homepage ]