Which book for an 11 year old?

Hi,

I want to get my niece a book (or something) which will teach her about the concept of money in a fun way. I'm thinking Rich Dad Poor Dad but would appreciate anyone's opinion because I don't have kids and others may have better ideas.

Her mum has put me in charge of educating her about $ because I'm the only one she knows who is never broke. I wish kids learned this stuff in school. I don't want my niece to become part of the rat race, so investing in her now is worth while and if it's fun I think she will retain the info.

Thanks for your thoughts ;)
 
RDPD might be too "heavy going" (I could be wrong - but I can never get through the back half of the book).

Maybe something easier to read like Jan Somer's "Building Wealth - Story by Story"?

Cheers,

The Y-man
 
I have a fairly astute 11yr old and even he would not be interested in Jan's book.

There must be a book for kids out there somewhere.........

The game Cashflow for Kids was and still is good value though.

Might be worth a thought.;)

Regards JO
 
Kiosaki did a whole Rich... suite of books, did he not do one aimed at younger kids ?

Yeah, "Rich Kid Smart Kid".
My 20 yr old has read it. Already bought her first IP about a year ago and is looking for number 2 within the next 12 months.
The 15 yo has read it, too and has already doubled an investment fund of $2,500 she started less than a year ago.
I think the book sure got them thinking, although I'm not the biggest fan of the RK strategies.
 
Hi Rob,

were you alredy awre of the mindset difference between, to say it easily investors and non investors ? I wsan't per se, and it was that which I clung to more than him excelling at work and earning high commissions. The eye opening thing is the clincher I think. Kids gtting that aha moment, and having examples to see it working around them could be a great motivator(not the word I'm looking for)
 
I was given Kiyosaki's first book by my old man when I was about 12 or 13, I think. Before RDPD, RK wrote "If You Want To Be Rich And Happy, Don't Go To School".

Loved it. My marks suffered dramatically afterwards, though. :eek:



11 may be a little early, though, unless the girl is already ahead...?
 
Thanks for the suggestions! She has no idea about money but has kicked butt @ Monopoly since she was 6. If I can add to her imagination by encouraging her to think about how cash works, I think she'll work smarter instead of harder as she grows up. I looked up cashflow for kids and it seems to retail for around $39, not too bad. I'm not necessarily a big fan of RK either but the important thing is to create some awareness, plus it might teach her mum a few things and they can learn together? Who moved my cheese (Ages 9 - 12) looks pretty good too :rolleyes:
 
This one may be a bit better (comic book format) if RDPD is what you're looking at?





In Escape from the Rat Race, basic lessons about working to learn, not to earn, buying assets, and understanding a financial statement are revealed in a graphic format through the tale of Timid T. Turtle.

Don't let the comic bookcomic book format fool you! Money is serious business. But let's face it--that's bor-ring! Yet Tim Turtle makes a strong case for achieving financial intelligence when he runs out of money at the amusement park.

He thinks the answer to his money problems is to get a job. When Red Rat laughs at him and says he'll never get rich by working at a job, poor Tim is totally confused. But isn't that how to make money?

Instead Red Rat shows him the difference between working for money and making money work for him. Based on Kiyosaki's bestselling book "Rich Dad, Poor Dad", this comic book adventure into the world of finance brings money issues to life. How to find moneymaking opportunities and create assets are explored in ways that are fun and easy to understand

Illustrated with full-color sequential art in the style of Rich Dad's popular CASHFLOW games and Web site, here is a book that gives kids (and reluctant readers of all ages) the chance to take their first steps toward financial freedom
 
we used that RK book for our youngest. (hubby actually bribed her with about $10 if she could explain what it actually meant to him after reading it! and answer questions about it) This reinforced that there can be rewards for learning.

If her household aren't financially savvy though you will have an uphill job. If mum and dad always splurge on having the latest dodads then that is what the kid will learn. good luck
 
Mine is almost 9 and has no clue about money.

I try to pay her for jobs around the house - with the caveat she actually has to DO the jobs but generally as soon as I try and pay her for something she is doing anyway she starts doing a very poor job and doesn't get paid, or she stops 9/10ths of the way through and says its fine if I don't pay her because she didn't finish. She compulsively cleans and organises the house unless I pay her, basically. I pay, she doesn't do it anymore, we both lose. I stop paying, the house is clean again :rolleyes:

She's also very prone to giving away her money to friends or demanding she spend it on something (usually sausage rolls, which she hates) immediately. She won't save up for ANYTHING, she just asks her dad to give it to her. Last trick she pulled was writing to him to ask for a book that was for sale at the school at a book fair (ie, discount pricing through the school), and he bought it for her off the internet for full price + postage.

we used that RK book for our youngest. (hubby actually bribed her with about $10 if she could explain what it actually meant to him after reading it! and answer questions about it) This reinforced that there can be rewards for learning.
I wish bribes worked ... when we were trying to teach her to read we tried every trick in the book to get her to read words she knew, and she just point blank refused :(
 
Thanks for the suggestions! She has no idea about money but has kicked butt @ Monopoly since she was 6.

If that's the case, she'll find c/flow for kids too boring. I suggest going the full C/Flow 101 (yes, it is a tad expensive). Also caution when buying - there is an "online" version which is cheaper than the board game - make sure you get the version you are really after.

Cheers,

The Y-man
 
I have a fairly astute 11yr old and even he would not be interested in Jan's book.

That's interesting. I found the other "building wealth" books reasonably heavy, but the "story by story" one quite good - but now that you mention it, I guess for kids, the stories would be irrelevant as they would not be able to associate with any of the plots. Is that the reason?

Cheers,

The Y-man
 
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