Book Recommendation for teenager

[SnowballCamper]

DD's money matters class has gone away due to covid rescheduling at school. I'm looking for a recommendation on a current book for her to read about money. I'd prefer something that leans more toward index investing than stock picking. Something with more of a behavioral finance tilt would be nice too. Thanks.

 

[pjm-7]

Your Money or Your Life by Vicki Robin. It has been updated with a section about the financial struggles that millennials face. This is one book that I suggest for anyone to understand their relationship with money.

 

[bloom2708]

Everyone should read "The Total Money Makeover" by Dave Ramsey

BEFORE they start earning and borrowing and borrowing and borrowing.

 

[Koogie]

Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School
by Andrew Hallam

https://www.goodreads.com/book/show/11737840-millionaire-teacher

""" With lively humor and the simple clarity you'd expect from a gifted educator, Hallam demonstrates how average people can build wealth in the stock market by shunning the investment products peddled by most financial advisors and avoiding the get-rich-quicker products concocted by an ever widening, self-serving industry."""

 

[YVRRocketSurgery]

Millionaire Teacher is one of my favourite books.
I find it an easy read, opening with spending habits and then the power of compounding. It is pro-indexing and guides what to avoid like high fees, investment newsletters, junk bonds, etc. A couple of the concepts might be unfamiliar topics for a teenager though that hasn't has a lot of exposure to various investment tools.

Quit Like a Millionaire by Bryce Leung and Kristy Shen is a good book too. While I find the writing style a bit grating at times, it's written by millennials for young people. It's also pro-indexing (though with a cash cushion and yield for a margin of safety) and spends a good chunk of the book discussing money, spending, and happiness.
I bought copies of this book for my nieces and nephews (20 somethings) for Christmas.

 

[SnowballCamper]

Thanks for the responses so far. One of the reviews of the above books mentioned Get a Financial Life: Personal Finance in Your Twenties and Thirties by Beth Kobliner and it seems on point. I might supplement it with The Psychology of Money: Timeless lessons on wealth, greed, and happiness by Morgan Housel as a more engaging complement to the nuts and bolts. There is a ridiculous variety of titles on the subject, so hard to pick...kinda like stocks huh

 

[jimbee]

If You Can, How Millenials Can Get Rich Slowly by William Bernstein. It may not be considered current anymore, since it is copyright 2014, but I think it is a good book. Short and sweet, sixteen pages all in. It's my goto recommendation, if a sixteen page read is too long, they aren't going to read a book anyway.

https://www.etf.com/docs/IfYouCan.pdf

 

[YVRRocketSurgery]

I might supplement it with The Psychology of Money: Timeless lessons on wealth, greed, and happiness by Morgan Housel as a more engaging complement to the nuts and bolts.

I really enjoy Morgan Housel's blog but haven't read his book yet.
I've been meaning to buy it if it takes too long to borrow it from the library. Last I checked, I was 77th in the hold queue for 10 copies.

 

[SnowballCamper]

I had already sent her the "If you can" by Bernstein in .pdf. I got and just skimmed Kobliner's book and it covers the basics to my satisfaction, so it's on DDs shelf now. I read Housel's book in two days, and it's much more engaging. His theme is that knowing what to do is not enough, that behavior matters more with finance, but we don't ever really know how much luck plays a part. As a result, we should save in order to hedge the risk of bad luck.

I know that's so obvious to most of us when you read it in two sentences, but his mix of anecdote and relevant statistics is hopefully engaging enough for DD. It was for me.

I passed on the titles that spend a lot of time on getting out of debt, as DD has no debt yet I figured the topic wouldn't be engaging for her.

 

[JDARNELL]

The richest man in Babylon

 

[Math]

I highly recommend “The Simple Path to Wealth” by JL Collins. He wrote it as a compilation of letters to his daughter to educate her about money and investing.

 

[CoolRich59]

I highly recommend “The Simple Path to Wealth” by JL Collins. He wrote it as a compilation of letters to his daughter to educate her about money and investing.

This. Great book for young'uns. "Richest Man in Babylon" is excellent too.

 

[Ncc1701]

The fact that you have a teenager willing to read a book is amazing to me

 

[Jenna]

Quit Like a Millionaire
The Simple Path to Wealth

Both Excellent for Teens and up!

 

[Dean56]

The richest man in Babylon

+2

It's a must read for kids.

 

[teetee]

https://www.amazon.com/Didnt-They-Teach-This-School/dp/1481027565

Why Didn't They Teach Me This in School?: 99 Personal Money Management Principles to Live By

It was a good read and I think useful for beginners.

 

[Jenna]

I also recommend this blog livingafi (dot) com. He talks alot about the emotional journey from being poor, getting a job and spending big to FI . (Some profanity)

 

[Nick12]

The Tightwad Gazette

 

[RxMan]

The fact that you have a teenager willing to read a book is amazing to me

+1

I don’t know if a specific recommendation is as important as just simply encouraging them to read.

 

[523HRR]

Yep: "The Richest Man in Babylon"

 

[Blue531]

I think that David Bach's book The Automatic Millionaire is an easy, enjoyable read. It is available as an audiobook as well on You Tube. It gets the point across about why it's advantageous to invest a portion of your money. The Millionaire Next Door is one of my favorite reads. And Rich Dad, Poor Dad is great.

 

[beernutzbob]

I read and then gave my early twenties kids:

If You Can...

The Simple Path to Wealth

and one I haven't seen mentioned yet

ChooseFI

I recommend them all.