* These books give practical monetary advice for young people
* They make great gifts for new grads
* From taxes to budgeting, they cover a range of topics
It’s never too early to start getting sound monetary advice and learning how to manage finances. Teens and young adults can be tempted to spend money impulsively, and can often wind up in credit card debt by the age of 25.
Teaching teens about financial responsibility from a young age will help them develop healthy spending and saving habits that they’ll likely keep for the rest of their lives. We’ve found five great books that explain the importance of financial planning to young people on their level. Packed-full of practical advice for now and the future, these books make great gifts for new graduates.
1. The Financial Diet: A Total Beginner’s Guide to Getting Good with Money
Ranked as Refinery29‘s best book of 2018, this book is filled with practical expert advice for those looking to get a jump start on their financial future. It even covers lesser-known territory, like how to take care of your home and how to talk about money with friends.
2. The Motley Fool Investment Guide for Teens: 8 Steps to Having More Money Than Your Parents Ever Dreamed Of
This book teaches teens that it’s important to reach out to multiple sources, not just their parents, when it comes to managing money. It also explains how to start investing on a tight budget.
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3. Official Money Guide for Teenagers
If your teenager is more of a visual learner, this book is packed full of fun info-graphics and charts that make learning about financial security and budgeting entertaining rather than sleep-inducing.
4. The Millennial Money Fix: What You Need to Know About Budgeting, Debt, and Finding Financial Freedom
Each generation will have different attitudes towards money, based on the economic climate they’re born into. This book writes about money and finance from a millennial perspective, giving sound advice based on broader financial viewpoints.
5. Why Didn’t They Teach Me This in School? 99 Personal Money Management Principles to Live
While you may learn the intricacies of photosynthesis or the capitals of all fifty states in school, you may not learn practical financial advice, including how the heck you file your taxes. Originally written by the author for his five children, the book contains sound advice any teen (or adult) should follow.