The Complete Guide to Personal Finance: For Teenagers
Author
Tamsen Butler
Publisher
Atlantic Publishing Group Inc.
4 Review Copies Left
Advertisers are well-known for targeting teenagers and have a firm reason for doing so: Teenagers spent close to $190 billion in 2006, and that figure is expected to jump to approximately $209 billion by 2011. It seems quite obvious that teenagers know how to spend money, but do they know how to save? Personal financial planning is the process of establishing your own financial goals and finding a way to reach them. It is an ongoing process that involves examining all existing resources, developing a plan to use them, and systematically implementing the plan to achieve your goals. While teenagers yield immense spending power, many lack the financial knowledge necessary to manage their money wisely. The Complete Guide to Personal Finance: For Teenagers is a reliable and relevant source of financial information in which teenagers will find a wealth of useful information. In this new book, you will learn how to get and manage credit, how to make and stick to a budget, how to save for college, how to determine your needs versus your wants, how to pay for a car, how to finance college, how to manage risk, how to open a bank account, how to write a check, how to balance a checkbook, how to avoid the pressures of consumerism, and how to avoid financial mistakes. You will also learn about investment options, taxes, checks, debit cards, credit cards, and basic budget tips. This book is filled with helpful suggestions from financial and family counselors, and you will discover creative ways to get a jumpstart on your financial future and use money responsibly. Even if you have had a few missteps along the way, you will be able to learn from your mistakes and get on the path to financial well-being.
Reviews
We constantly hear of teenagers or college students, once of out of school, getting themselves in to desperate financial situations because of their lack of discipline or knowledge. Once on their own it seems like every credit card company gets their address and bombards them with enticing advertising. As well, student loans are easy to get and just as easy to spend not anticipating they will have to be repaid with a high interest attached.
This book is a very important component of the teen or young adult's reading material before embarking on their own. Much of the information isn't taught at school and in many cases never discussed with parents. Also, in many cases the parents themselves aren't well versed in financial matters.
I believe Tamsen Butler covers all the necessary aspects of providing information so as not to get into debt or succumb to easy loans or credit cards. She also covers spending, saving, and budgeting. I specifically like her explanation about creditors and the "games they play." As well, Tamsen covers areas such as different kinds of debt, responsibility, and credit reports. From what I can see nothing was missed to give the young person the basics of sound financial management.
I do recommend this book be given to every teen before they leave home and embark on their own. It may the best investment in their lives.
Reviewed on 06/09/2011 by ReviewTheBook.com Member Irene Watson
