Giveaway: The Missing Money

I recently had a chance to review The Missing Money. In the book Kai is on his way to deposit his newly earned money, but it disappears in the ATM machine! He comes up with a plan to get it back, but then his parents explain to him just what happened to the "missing money."


It was a cute story, and really illustrates what some kids don't realize about how banking works. The book also makes it easy for parents to talk about basic money matters with kids, with key words and conversation starters.

The Missing Money (July 2019) will be the first of three books to release in the Money Monsters series, all of which are set to publish within the year.

Attorney and author Okeoma Moronu Schreiner partnered with illustrator Sandhya Prahbat to create The Money Monsters series, a colorfully illustrated children's series that emphasizes the idea that you are never too young to learn about your finances.

I had a chance to interview the author to learn more.

What inspired you to write a book series for children to help them understand the  concept of money?
I developed an interest in personal finance while paying off multiple six-figures of student loans and during that time I also had the pleasure of becoming a mother twice over. Like most mothers, I suppose I wanted to find a way to share my interests with my little ones and quickly learned there aren’t a ton of age-appropriate picture books that tackle modern money concepts. It’s, of course, important to just learn the basics of earning or saving money, but I wanted books that were set in a more modern context with banking apps, credit cards and online banks. Basically, I wanted to create a book that would help children understand the concept of money in a way that reflected the world in which they would be growing up.

Why is it important to start these money talks with your children at a young age?
The earlier you start these conversations the more comfortable you’ll be having them throughout the many seasons of parenthood. Truth is that the conversations will only get tougher and tougher as your children get older so you want to develop the language and comfort before it’s too late. Your children are internalizing “stories” and beliefs about money that may not be true and have the potential of impacting their financial lives forever. If we, as parents, don’t help shape those stories and beliefs, our children will create their own.

What are some concrete steps parents can take while their children are young to start their children out on the right financial path?
Take the time to involve them in your everyday money decisions. Whether it’s choosing between two products at the grocery store or choosing not to spend on something in order to save for a bigger goal, children will benefit from understanding how money decisions are made in everyday situations.

Speak to them about in values, not figures. In our house, our kids know that the environment is very important to us so we’ll pay more for a product that is more sustainable and/or eco-friendly. Help your little ones understand your family’s values and how your money supports and reflects those values.

Teach them contentment. This is a hard lesson that can take a lifetime to learn. In order to get your little one off on the right foot you can lead by example, help your children practice gratitude and teach them the value of giving.

What are some of the financial terms that you encourage parents to teach their children?
The first five basic terms that little ones should understand are:

• Earn – Discuss that money is earned through an exchange of goods and services. Sometimes when we’re out and about we’ll play a game called “who is at work?”, where my children try to point out people who are “at work” and try to guess how they earn their money.
• Save – Explain why it is important to save towards larger goals instead of spending money as quickly as it comes in. I would recommend using a clear money jar so little ones can see a visual representation of their money growing.
• Spend – Spending wisely means not just spending within your means but spending in alignment with your values. Teaching your kids about spending is a lesson in understanding what matters and making intentional decisions.
• Give – Help your little one develop a charitable heart and discourage a scarcity mindset. It’s also crucial to teach your little one how to let go and get rid of things they no longer need or value.
• Invest –This is the one most people struggle with the most but little ones should be introduced to the idea that there are things you can do with your money that can put more money back in your pocket!

I have a chance to give away a copy of this book. To enter, leave a comment with what money lessons you're working on teaching your kids now. Deadline is July 29th.