Getting young adults to read can sometimes be difficult, yet getting young adults to read about money management can be even harder. In a world that constantly tries to get children and young people to spend money on this item, or that product, it is especially important to help foster good spending habits that can be utilized throughout her or his entire life. Even beyond the basics of spending, many parents find it important to teach about money investment, as well as general banking terms such as interest rates and inflation. Money affects us all and whether we are in an emergency situation or not, it is important to have a pillow to fall back on so we do not sink deeper into debt.
Unfortunately, most of these financial questions are not taught in school, leaving parents to wonder where and how to teach these basic principles. Therefore, many young people are growing into adults without knowing the smart choices to make when it comes to personal finance. Here is where we look to the books to help teach young people about money principles and help them build a solid foundation to guide them through the years. Here are 5 money-focused books for teens that are actually interesting, and will help teach them (or people of any age), a thing or two about dollars and cents.
1. The Money Savvy Student by Adam Carroll
Carroll starts his book out by having the reader list how much they spend on a monthly basis in an effort towards empowering readers rather than scaring them. By keeping in mind our daily costs, we are able to make smart money decisions. Easy to read and filled with real life stories, it makes for an interesting read on personal money habits.
2. Not Your Parents’ Money Book by Jean Chatzky
Although the cheesiness of this book’s cpber is a little cringe-worthy, Not Your Parents’ Money Book‘s content falls towards the younger side of teens, and is written in an engaging and thoughtful way. It explains the basics of how the economy works, and how our own habits fit within the larger economy.
3. Loaded: Money, Psychology, and How to Get Ahead Without Leaving Your Values Behind by Sarah Newcomb
Newcomb presents money in an easy to understand way, and is able to let the reader truly explore their own spending habits and wants. She presents important topics surrounding money management and explores ideas such as the true difference between wants and needs when it comes to buying.
4. The Young Entrepreneur’s Guide to Starting and Running a Business by Steve Mariotti
Originally published in 1996, this classic got the update it rightfully deserves, and goes further in teaching young adults about starting businesses and marketing, including how one’s carbon footprint can deeply affect their wallet.
5. What All Kids (And Adults Too) Should Know About Saving and Investing by Rob Pivnick
A more comprehensive book, What All Kids Should Know covers it all! From saving money to investing money, Pivnick teaches the basics and then goes further in depth to give young people the skills needed to have the successful financial tools they’ll use for a lifetime.
Have you read any books on money management? What are some ways you budget and keep your finances in check?
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