Financial Education Books

– For Teens –

1st Rank:

I Will Teach You To Be Rich

by Ramit Sethi

Financial Education

The first place in our comparison is ideal for school graduates or young teenagers who earn their first money through part-time jobs. It equips the reader with the mindset that it is very important to start building up assets as early as possible. On the one hand, it is important, especially during the transition from childhood to adulthood, to get used to good handling of one’s first earned money right from the beginning. On the other hand, the compound interest effect makes smart investing all the more valuable the earlier you start. The author explains how you can automatically put a certain part of your income aside without giving it much thought and invest it wisely right away. Thus the reader is always trained to „pay“ himself first and not to spend all his money on supposed enjoyment. However, great importance is attached to not restricting the reader too much, so that he does not lose the fun of saving and instead can still allow himself the things that make him happy. Ultimately, the author’s humorous and ironic style of writing ensures that especially young readers are inspired by the topic and are at the forefront of financial matters right from the start.

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2nd Rank:

The Motley Fool Investment Guide For Teens

by David Gardner & Tom Gardner

Financial Education

The authors of the second place of our comparison also suggest that the reader should start to build up assets as early as possible, as time can only play into your hands. And teenagers still have enough time in their lives. So it is not important HOW MUCH money you start with, but THAT you start. In the book, the authorities from whom children/teenagers often get their basic money behavior are questioned together with the reader. Children are not always taught by their parents, friends, television or school how to manage their money well. Rather, misconduct is manifested at an early age, which is difficult to get rid of later. In particular, the authors deal with typical mistakes in dealing with money, which a majority of people make through their consumer behavior. For example, real case studies of credit debtors are discussed and strategies to avoid or solve such mistakes are shown.

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3rd Rank:

How To Turn $100 Into $1.000.000

by  James McKenna, Jeannine Glista & Matt Fontain

Financial Education

This book gets the reader’s attention by setting the goal of the magical 1 million dollar mark and the accompanying explanation that this goal is easier to achieve than one might think. You just have to start early enough. The authors sketch important objectives and milestones towards financial freedom to convey to the reader that you have to stay persistent for success in life. Likewise, the 3 basic pillars of financial success are explained in an easily understandable way: How to make money, how to keep it and how to invest it wisely. Especially the appreciation of hard earned work to get money is discussed and with it ideas how to earn your first 100$. The easily understandable language and the very good illustrations explain the complex facts excellently and thus create great reading fun.

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4th Rank:

Rich Dad Poor Dad For Teens

by Robert T. Kiyosaki

Financial Education

Fourth place in our comparison goes to Robert T. Kiyosaki with a simplified version of his bestseller Rich Dad-Poor Dad, which was the winner in our comparison of parents books. The more comprehensive original is summarized in this version in a more easily understandable way, but it contains all the basic principles of his philosophy, making this book an excellent starting point for financial education. For example a key success factor is described as making your money work hard for you rather than blindly chasing after hard work yourselves. In contrast to most of the other books in this field, the author focuses more on real estate and entrepreneurship, in addition to investing in shares. He teaches the reader to always keep his eyes open for good business opportunities and also to invest in his education and development.

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5th Rank:

Money For Teens

by Tim Wuebker

Financial EducationThe fifth place in our comparison is occupied by a somewhat special representative. The book’s genesis is particularly noteworthy, as the author, as a teacher in a finance lesson, asked the students what they were interested in the topic of financial literacy. He noted down the questions and researched, interviewed millionaires as well as great personalities in the world of money and continued to educate himself in order to pass on the knowledge he had gained to his students. He put this knowledge together in this book to make it available to the general public. According to this, the contents conveyed have a very high relevance. Concrete questions of the young students are answered in the book. For example, the topics „relationships and money“, „cars“ or „time management“ are illuminated and explained besides many others. The contents are edited in various ways, e.g. in the form of funny short stories, concrete techniques for implementing what has been taught or in the form of a guidebook, which makes the whole book very interesting and motivating.

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