Friday, May 27, 2011
Personal finance is a life skill that must be learned and research has shown that parents are the first and most influential financial teachers a child will have. "Financial literacy needs to start early, before bad money habits begin. The recession has made this really apparent but many parents are wondering what exactly to teach and when, how to make it fun and how to fit it into the busy family schedule," commented Nancy Phillips, mother of two young children and author of the Zela Wela Kids book series on financial literacy. "This story book series was researched and created specifically to help parents communicate with their children about essential financial life skills in an entertaining, relaxed and memorable way."
"I originally began researching and writing the stories for my own children. I wanted to teach them the 'best practices' from the financial literature but I knew I had to make it fun so I included the key concepts in simple, real-life stories with vibrant illustrations. As I began creating the stories, the recession hit in 2008 and I knew there were probably thousands of other parents facing the same challenge and thinking the same thing I was, that they needed to start teaching their children the basics about money," says Phillips. "Many parents tell me they are learning things from the books that they were never taught as children so they're really excited to be teaching their own kids while they're still young. They know the information will really benefit their children long-term as they become teens and adults."
The first books are written for children aged five to nine. Readers follow the main characters, twins Jack and Emma, and their multicultural friends and classmates as they journey through new life lessons and discoveries. In The Zela Wela Kids Build a Bank, the first published book in the Zela Wela Kids series, the twins and their friends are taught the importance of allocating their money for specific purposes. With help from their mother and teacher, they create banks for giving, investing, saving and spending the money they receive. The Zela Wela Kids Learn about Needs and Wants takes place in a grocery store. The story includes lessons such as: the difference between needs and wants, why using cash saves you money, why an "ATM" doesn't endlessly spit out money, the importance of tracking your spending, what a bank account is, and how a wish list can help a child make good buying decisions. In the most recently released book The Zela Wela Kids Learn about Becoming Entrepreneurs, Jack, Emma, and their friends Carlos and Maria open a lemonade stand and learn important life lessons like: the meaning of "entrepreneur," the importance of creating new ideas, how to grow your money, the value of working as a team, the joy of giving and the pride that comes with setting and achieving a goal.
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 for three global corporations.
Since becoming a mother, Nancy's new passion is to research and create fun resources to inspire and help the next generation reach their true potential.
Zela Wela Kids books can be purchased from www.amazon.com
Ms. Nancy Phillips, M.B.A
DollarSmartKids Enterprises Inc.
San Diego, CA