We also paid particular attention to how current the information in each book was. We based our final judgments on the authors’ credentials, the quality of advice that the books had to offer, and how suitable they would be for teens of various ages and levels of sophistication. To compile our list, Daugherty and his Investopedia colleagues combed the bookstores, both online and off, checked out libraries, consulted publisher websites, and surveyed experts, including members of Investopedia’s Financial Review Board. In addition, he’s the proud father of two financially literate kids, now in their 20s.ĭaugherty credits his own early interest in personal finance to a long-ago gift from his father: a copy of Sylvia Porter’s Money Book, a 1970s bestseller that’s now out of print. He is also the author or co-author of two books on personal finance for adults. Reviewer Greg Daugherty has covered personal finance topics for more than 30 years, including stints as a senior-level editor at Money magazine and Consumer Reports. Books on more specialized aspects of personal finance are also worth exploring, with Kalman Chany’s Paying for College being a good example. Steve Burkholder’s I Want More Pizza might be the best choice for teens who want (or need) to know the basics but cringe at the idea of anything resembling homework. In addition to his umpteen Rich Dad Poor Dad titles, Kiyosaki is also co-author of the 2008 book Why We Want You to Be Rich: Two Men, One Message with former President Donald Trump.įor a comprehensive overview of personal finance, How to Money: Your Ultimate Visual Guide to the Basics of Finance by Jean Chatzky and her co-authors would be hard to beat. While some online reviewers have faulted the book as overly simplistic, other readers may find Kiyosaki’s upbeat approach to making and managing money inspiring. In Rich Dad Poor Dad for Teens, those concepts include managing assets, managing debt, and moneymaking opportunities for young people. Uradu said, “The author provides commonsense steps that anyone, even a teenager, can follow to empower themselves financially.”Įric Estevez recommended it for providing “really useful information for a generation on the brink of making important financial decisions,” adding that, “Robert has a track record of breaking down complex financial concepts into simple explanations.” Lechter, CPA, was cited by several members of Investopedia’s Financial Review Board as a best book for teens. Kiyosaki’s mega-selling Rich Dad, Poor Dad series, co-authored with Sharon L. Note that most of these books are also available in ebook formats. If you would like to know more about our methodology, please see the “Why Trust Investopedia?” section at the bottom of this article. As a bonus, most of these books are even fun to read. Any one of them will help fill in the gaps in a teenager’s knowledge and set them on a solid footing for whatever financial challenges or opportunities lie ahead of them in life. After sorting through piles of contenders, Investopedia winnowed the list to seven books that we consider among the best of the best. That leaves 27 states plus the District of Columbia with neither requirement.įortunately, for teens who want to know more about money matters-or parents eager to see them learn-there are numerous books on the subject. Of those 23 states, just nine require a stand-alone course in personal finance, while 14 allow for personal finance to be integrated into another course. Teaching the basics of personal finance has become more common in kindergarten through 12th grade education, yet even today, only 23 states require that students complete such coursework to graduate from high school, according to the Council for Economic Education. For decades, experts have bemoaned the low level of financial literacy in the United States.
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