Consumer Financial

Protection Bureau

MONEY AS YOU GROW BOOK CLUB

Parent reading guide for 

“The Rag Coat” 

by Lauren Mills

 Ages 6–9
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Welcome

This guide will help you teach your child money management 

skills while reading “The Rag Coat” by Lauren Mills. It will do 

this by:

 Helping you explain the key ideas covered in the book, and 

then providing you with signs your child understands the key 

ideas and can use them in daily life. 

 Giving you things to think about before reading the book 

with your child. These can help you spot key points in the 

book or spark ideas to discuss later.

Helping you prepare for an enjoyable reading time with 

your child.

 Providing questions to talk about with your child.

 Suggesting activities that help your child put ideas and 

lessons into action.

Parent reading guide | Ages 6–9
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The story

After Minna’s father dies, her neighbors make her 

a coat so she can go to school in cold weather. 

Minna chose the scraps of fabric for her coat 

because of the special stories behind each 

scrap. She is surprised by the reaction of her new 

classmates to the coat.
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 Key ideas

By the time you finish this discussion guide, your child will be 

able to point to examples of these key ideas in the book you 

read and discuss real-life examples, too. Use these definitions to 

explain the ideas. We’ve also included ways children can show 

they are ready to use them in their daily lives.

1. Solving problems

When problems come up, we try to deal with them. Solving 

problems means finding what works best for us and taking 

action to make things better.

How kids show it: They can describe problems and come up 

with a few ideas to make things better.

2. Sharing and borrowing

There are two kinds of sharing: Something shared that does not 

have to be returned or paid for is a gift. Something borrowed or 

lent must be returned.

How kids show it: They can explain the difference between 

lending and giving something away.
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3. Staying true to yourself

Sometimes we might feel left out if we don't have what other 

people have. Knowing what's important to you and not 

comparing yourself to others can help you feel good about your 

decisions.

How kids show it: They can name one special thing they like 

about themselves and one thing that makes each family member 

special too. (Ages 7+) They can discuss why it’s okay that 

different people use their money for different things.
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 Something to think about

First, read the book yourself and think about these ideas:

§ Papa dies from a coal mine illness, and many neighbors visit 

the family with food. These friends give help and support 

during the story.

§ The family did not own very much. Papa reminded Minna, his 

daughter, “People only need people, and nothing else.”

§ Minna thought it was more important for her to stay at home 

and help her mother than to go to school. Papa told her that 

she needed to learn things from books at school that she 

could not learn at home.

§ Minna didn’t want to start school because she wouldn’t be 

able to go when it got cold, so Mama and neighbor women 

made a patchwork coat for her. Minna chose fabric scraps 

with good stories and her coat was lined with her father’s 

coat.

§ Minna’s parents helped her to think about what was most 

important to her and the family, which was for her to attend 

school and to value people over things.
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Before you read

Read the book first yourself. Knowing the story will help you know 

what comes next. It is important to ask your child questions about 

the story as you read. Ask what might happen next in the story.

§ Choose a quiet time for stories and make it part of your 

daily routine. 

§ Find a cozy, quiet place to read. 

§ Make sure your child can see the pictures. 

§ Talk about the pictures and characters in the book.

§ Read with expression in your voice. Give each character 

in the story his or her own voice. 

§ Keep the story time short enough to leave them wanting more.

§ Look for ways during the day to bring up the messages in 

the story.

§ Continue to read aloud together even if your child can 

read alone.
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 Something to talk about

Before you begin to read the story with your child, look at the 

cover of the book together. Ask what the story might be about.

As you read the story with your child, talk about these ideas:

§ In this story, friends and neighbors work together to help 

each other. How did they help Minna’s family after her father 

died? Is there a time when someone helped you? What things 

have you done to help a friend or family member?

§ The women know how to sew and they make quilts to earn 

money for their needs. They also share their fabric and like to 

work together. What skills do you have? 

§ This story is set in the past. How did Minna get to school? 

What do you notice about her school and classroom?

§ Children at school have a sharing time. What kinds of things 

did the other kids bring to school? What would you bring to 

school for sharing time? 

§ Minna finally gets her winter coat and wears it to school. What 

do her classmates think about her coat? How does Minna feel 

at first?

§ Minna’s father tells her, “All people need is each other.” How 

did that help Minna when she wore her coat at school?
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§ Minna tells her classmates about her coat and the stories their 

mothers shared about each scrap of fabric. Do you have a 

special story behind something you have?

§ At the end of the story, Minna tells her friends, “Friends 

share.” What’s something that you have shared with your 

friends?

§ Talk about the needs and the wants in this story. After looking 

at the pictures and hearing the story, what needs were the 

same back then as now? What needs are different now? What 

do you need to go to school?
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 Something to do

Planning ahead Ages 6+

In this story, Minna couldn’t afford a new coat. She and her 

mother planned ahead to make a winter coat before it got cold. 

For this activity, think about an event that will be coming up 

soon for your child or your family. It could be starting school in 

fall, a family vacation in summer, or planning for a holiday your 

family celebrates. First, make a list with your child of what is 

needed for this event, such as clothes or supplies or gifts. When 

you have a list, think about all the different ways you could get 

what you need or want for this event – new, used, handmade, or 

borrowed. 

If you need some new clothes, for example, compare the cost of 

new name brand clothing, new clothing at a discount store, and 

used clothing. What are the differences? You might also be able 

to sell your old clothes or toys at a rummage sale or thrift store, 

and use the money for newer clothes. Talk about how you can 

save money and reuse or recycle items you don’t use anymore.

Sharing with others Ages 5+

Like Minna’s family, there may be families in your school or 

neighborhood who have a need. Talk to your child about what 

needs families might have and how you might be able to help 

them. 
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What does your family love to do that could help someone else? 

Maybe your family likes to garden, make a meal, babysit, shovel 

snow, or collect cans. Make a list of your talents as a family and 

plan to share your skills with others. 

As a family, talk about how it felt to share with others. What did 

you learn about yourself and other people? Would you like to do 

this or something different to share in the future? 
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About this guide

The Money as You Grow Book Club is a research-based program 

designed to help parents, caregivers, and others teach children 

ages 4 through 10 money skills through reading, activities, and play. 

The Money as You Grow Book Club is an updated version of 

the University of Nevada Extension’s Money on the Bookshelf 

program. The Consumer Financial Protection Bureau (CFPB), The 

University of Wisconsin-Madison Center for Financial Security, 

and the University of Wisconsin-Extension Family Living Programs 

have worked together to expand the program and make it 

available to libraries, educators, and parents nationally. 

The CFPB is an independent federal agency. We write and 

enforce rules that keep banks and other financial companies 

operating fairly. We also help educate and empower 

consumers. For more about tools and resources for parents, visit 

consumerfinance.gov/MoneyAsYouGrow. 

The Center for Financial Security is a research center that seeks 

to help the public build financial knowledge and skills, increase 

access to financial services and increase the financial security 

of families. The University of Wisconsin-Extension is part of the 

National Institute of Food and Agriculture’s (NIFA) Cooperative 

Extension System, which brings vital, practical information to 

agricultural producers, small business owners, consumers, 

families, and young people.
To learn more about the Money as You Grow Book 

Club, or download other parent reading guides, visit 

consumerfinance.gov/MoneyAsYouGrow.

MONEY AS YOU GROW BOOK CLUB

Ask about these other Money as You Grow Book Club books and 

parent guides. ISBNs for paperback versions are included below:

Count on Pablo

by Barbara deRubertis

ISBN # 9781575650906

Cuenta con Pablo

by Barbara deRubertis

ISBN # 9781575651514

Curious George Saves 

His Pennies

by Margaret and H.A. Rey

ISBN # 9780547935768

Lemonade in Winter

by Emily Jenkins

ISBN # 9780375858833

My Rows and Piles of 

Coins

by Tololwa M. Mollel

ISBN # 9780395751862

Those Shoes

by Maribeth Boelts

ISBN # 9780763642846

Tia Isa Wants a Car

by Meg Medina

ISBN # 9780763657529

Tía Isa Quiere un Carro

by Meg Medina

ISBN # 9780606238014

Consumer Financial

Protection Bureau November | 2016