Get To Know: Money

What the book teaches

The book starts with the basics: what money is, why it matters, and three things you can do with it, save it, keep it safe and grow it. It then widens out to how the money system works: what banks do with the savings you put in, how taxes are collected and spent on things like schools and roads, and how money is made and moved around the world. It also introduces the stock market.

The last strand is the money kids meet today: microtransactions (small purchases inside games and apps), staying safe online, and how money can affect how we feel. DK presents the topics in short sections with colorful diagrams, quizzes and activities, so it is easy to read in small pieces.

A quick tour from the UK

Two caveats. The first is depth: 96 pages over this many topics means one or two spreads each. That is right for ages 7 to 9, but it means the book raises questions you will need to answer, especially about the stock market, which the publisher pitches to kids who dream of making millions. Stocks can go down as well as up, and investments are not protected the way money in a savings account at an FDIC-insured bank is (the US government insures bank deposits up to $250,000 per depositor, per insured bank, for each ownership category, if the bank fails).

The second is where it comes from. The author is a UK money journalist and the book first came out in the UK. Expect some British words, such as pocket money for allowance, and be ready to add how things work in the US, like sales tax added at the register (if your state or town has one).

If talk of online money leads your child to ask about bitcoin or other crypto, keep it simple: it is a kind of digital money whose price can swing wildly or crash, kids can't buy it on their own (exchanges require adults, and any kids' app that offers it runs through an account a parent controls), and anyone online who promises to grow their money fast or asks them to send money, gift cards or crypto is running a scam.

Reading it together

Read one spread at a time and connect it to something your child can see. After the banks pages, look at a sample bank statement together, or your own banking app if you're comfortable sharing it. After the taxes pages, find the sales tax line on a store receipt. After the online pages, open a game's in-app store together, with purchases set to need your password, and talk about what a pack of gems really costs in dollars.

Questions to talk about: Why might someone keep money in a bank instead of a jar? What do taxes pay for that we use every week? Why do games sell things for coins or gems instead of dollars? What would you do if someone in a game asked for your password or your parent's card?

For a hands-on start tonight, find one receipt and work out together how much was the price and how much was tax (if your state or town has sales tax). With a 7-year-old, just find the tax line and read the number together. Then ask your child what they think the tax money might pay for.

Who it's best for

DK lists it for ages 7 to 9. It suits a curious child who likes facts, pictures and quizzes more than stories, and who is starting to ask how banks, taxes or online money work. Seven- and eight-year-olds will get most from it with a parent alongside; many 9- and 10-year-olds can read it alone.

If your child is younger or prefers stories, start with a picture book about saving and come back to this one later. If they finish it wanting more, an 8- to 12-year-old nonfiction book such as Finance 101 for Kids or Investing for Kids goes deeper. Many public libraries carry Get To Know: Money; the US hardcover (ISBN 9780744034974) is the edition to look for.