Wednesday, April 3, 2013

April is financial literacy month across the United States. Financial education, specifically the type that teaches good daily habits, isn't currently a standard part of the national school curriculum, especially for young children. The current economic situation demonstrates the need for the effective implementation of activities and lessons that will positively affect our youth during the critical decision making processes of daily life.

"Our children clearly need to learn the fundamentals of how to handle their money and make wise decisions early on so they don't end up in massive debt, but many teachers and parents aren't sure how to teach these concepts or where to start," says Nancy Phillips, mother of two elementary school aged children, and author of the Zela Wela Kids financial book series. "This book was created specifically to help parents teach their children the difference between needs and wants in a fun, effective and memorable way. Teachers are now using the book in elementary classrooms to help open the conversation and engage in valuable hands-on activities. The Zela Wela Kids Learn about Needs and Wants has been made into a downloadable file to make it convenient for teachers who would like to use SMART Boards in addition to, or instead of, traditional print versions of the book."

Unlike most money management books in the marketplaces, which are targeted primarily to adults, Zela Wela Kids books focus on children aged five to nine. The five universal themes through out the books series are: financial life skills, the process of goal achievement, respecting diversity, entrepreneurial thinking and the power of giving.

The 'need versus want' concept is definitely one of the most asked about topics in the area of children's financial education. The major societal focus on consumerism makes it an even hotter topic for this generation. In this book, Jack, Emma, Mom and Dolly, the dollar fairy, take a trip to the grocery store where together they learn important life lessons like:

* 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 you make good buying decisions 

This financial storybook is most applicable for use in countries, which have "dollars and cents" currency including the United States, Canada, Australia, New Zealand, Hong Kong and many of the Caribbean Islands.

About the Author

Nancy Phillips has an Honors Science degree in Kinesiology and an Executive Master of Business Administration. While working in the corporate world for almost twenty years, she held positions in product development, portfolio management and international business for three of the world's leading medical companies.

As a mother and entrepreneur, Nancy's passion is to research and develop valuable resources to inspire and help the next generation reach their full potential. She is the author of The Zela Wela Kids series, The Parents Guide to Kids and Money and the forthcoming Parents Guide to Teens and Money alongside The Teen Guide to Wealth and Happiness.