These days, money tops the list of the things most young adults and teens want in their lives. Money is vital to getting basic things needed to facilitate comfortable living. Teens need money as much as adults do, and many of them are working legally to get it. But do they know what to do with it, besides blowing it on an expensive gadget or at the mall with friends?
Some teens think all they have to do is get money to buy Dogecoin or other cryptocurrencies, then suddenly they’ll be “stinking rich.” The few who get lucky with crypto investments tend not to know how to reinvest or do with their newfound income. Nine times out of ten, they usually lose money and not for the right reasons.
What Is the Teenager’s Perspective on Finance?
Financial literacy is quite hard to come by, especially among teenagers. Why? Because fiat currency and cryptocurrency aren’t a traditional part of many high schools and middle school curriculums, not all parents teach their kids how to be financially responsible, and it shows. Children take financial lessons from different places, which gives them a faulty understanding of what money is and how to manage it effectively.
Whether it’s spending money to go on a date, saving for a new phone, earning money from their first job, or starting a small business as a young entrepreneur, learning about money through books and best budget apps is essential. They will need it while in school because they have to buy textbooks, pay for grocery items, go places, and do several other things.
We attempt to take young readers through great financial literacy and money management books. Some are suitable for pre-teens, teens, and all young adults, with all of them striking a perfect balance between empowering and educating their readers. Every book has vital financial advice to offer in the most interest-teen way possible!
Getting the Right Money Book
Getting the right Money Book to read may not be as easy as you think; the same way buying Bitcoin or Dogecoin isn’t. First, you need to make sure its contents are not too advanced and complicated for your understanding. You will also have to check that its contents refer to situations you can relate to as a teen.
Shania Brenson, the co-founder of 15M Finance, says that “financial literacy is important and not taught in school so it is important to help your child learn the basics with the right books. Parents should know that there are hundreds of books that can help children learn the basics of finance. From how to save money to understanding compound interest, there are plenty of options. You can even find books written by celebrities like Mark Wahlberg or Mark Cuban that will get kids excited about learning about money.”
You can ensure this by looking for younger authors or checking book titles with teens or young adults referred to or clearly stated in the titles.
What Are Things to Note Before Reading a Money?
Getting excited then, jumping in to read about money books isn’t the most effective way to learn. You would need to pay attention to things like,
- The questions asked in the book – direct or rhetorical.
- The research involved making some of the best financial decisions.
- The parts that are most accessible to you as a teenager.
This will enable you to get the right information on what you need to know and fill in some gaps in money knowledge you would want to acquire in the coming years.
What Are the Best Finance Education Books for Teens?
Everything good comes from knowledge, and finding the right insights on money-related matters will help teens make wise financial decisions as they grow. Without further ado, let’s dive right into some of the best money books for teenagers.
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Broke Millennial
Broke Millennial talks about the values of money in an entertaining, fun, and relatable way for teenagers. Erin Lowry wrote it, and she gives young readers a step-by-step plan for financial independence and discusses many topics like managing loans and budget planning to make good saving options.
If you’re looking for an interesting and practical book on money that appeals to a teenage audience, you should look no further than this book.
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The Money Savvy Student
The Money Savvy Student teaches its readers to use unique attack and defense strategies to make money. Your defensive ability is the capacity to keep expenses low, and your offensive ability is your capacity to make money. From this book, teenagers will learn that it is not enough to minimize spending; you should also know how to increase your earnings and create a budget plan.
Adam Cromwell teaches teens and young adults how to get ahead of their expenses with savvy entrepreneurship and money management skills.
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Not Your Parent’s Money Book
In this book, the author Jean Chatzky talks to teens and pre-teens on how the economy works by explaining important terms like “GDP” and “deficit.” It comes with lively text questions about real teens’ money-related experiences.
The questions provided in this book are deliberately included to provoke the thoughts of teenagers and help them understand money management in a positive light.
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The Year of Less
The Year of Less teaches its readers to avoid spending cycles that make them lose money. Cait Flanders uses her experience buying only essentials like toiletries, groceries, and gas for a whole year to teach young adults about financial prudence.
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Get Money
Get Money provides a step-by-step guide on a personal finance regime that will give you control over money-related issues in your life. Its author, Kristin Wong, explains how to create a budget, negotiate, pay off debt and invest. As basic as these money principles may seem, they form the bedrock of good financial decisions by teenagers.
The books above can show teens how to make money, save, invest, understand various financial dimensions and even understand the value of charitable giving. You can make all your money dreams come true with a good read of any.
