One of the key topics identified by financial experts in April during financial literacy month was the importance of differentiating between "needs" and "wants." "This is one of the most important lessons a young child can learn in regards to money," says Nancy Phillips, mother of two young children and author of the Zela Wela Kids book series on financial literacy.

In Phillips' newly released book, The Zela Wela Kids Learn about Needs and Wants, children are taught the difference between necessity and desire while shopping at a grocery store. In addition to this valuable lesson, they also learn why using cash saves money, what a bank account is, why an "ATM" doesn't endlessly spit out money, and the importance of tracking their spending. Parents are offered some hands-on teaching tips they can use with their children, such as creating a "wish list" to help them make good buying decisions and prevent "I want ..." tantrums.

"Parents with youngsters often experience numerous requests for items such as toys and candy at the grocery store," says Ms. Phillips. "It can be difficult to know how to keep the situation calm without giving in to their children. This book gives parents the opportunity to teach their children critical life lessons in a fun way, while sharing quality time together."

About the Author

Nancy Phillips has an Honors Bachelor of Science degree in Human Kinetics from the University of Guelph and an Executive Master of Business Administration degree from Queens University, Canada. While working in the corporate world for almost twenty years, she held positions in product development, portfolio management and international marketing.

Since becoming a mother, Nancy's new passion is to research and create fun resources to inspire and help the next generation reach their full potential. She is the author of The Zela Wela Kids Build a Bank, The Zela Wela Kids Learn about Needs and Wants and the soon to be released The Zela Wela Kids Learn about Becoming Entrepreneurs.

Zela Wela Kids Learn about Needs and Wants can be purchased from www.amazon.com