Lack of financial literacy among children can lead to poor money management skills in adulthood.
If you would like your child to learn practical tips of how money grows over time and the power of compounding, this book is here to help your child.
Jeremy's Magic Cheque uses great pictures, making it more interesting and memorable for the children. The book is among a series of the Kids Financial Story Books available to help reinforce kids' understanding of how money grows and increase in value if invested wisely.
Book Summary:
Jeremy, a young boy, received a small cheque from his parents as a gift on his third birthday. Despite his love for toys, he made an unusual request to open a money market fund account instead, where he could save the cheque. To his surprise, Jeremy discovered that the value of his cheque increased every day. Curious about this growth, he checked the value again on his fourth birthday and found a significant increase. When he asked his parents about the reason behind this growth, they explained that it was due to the power of compounding. Jeremy was thrilled to learn that his saved money earned interest, and both the interest and the amount saved were reinvested every month, leading to even more interest. He realized that money grows over time if invested in a money market fund. Inspired by this knowledge, Jeremy decided to save every little allowance he received into his money market fund. He set a goal to use his savings, aided by the magic of compounding, to pay for his college education in the future.
