Teen Financial Wellness

As a teen, learning positive ways to handle money can help set you up for a bright and successful future.  However, most of us are not born knowing how to manage money, and not everyone is taught at a young age how to handle money matters. Luckily, the library has some fantastic teen resources to help teach you how to manage that influx of cash from your first job. Read on to learn more.

• Complete Guide to Personal Finance for Teens by Tamsen Butler (also available on Hoopla)
  • This handy guide covers all the basics to help get you started in your financial life. From creating your first budget, to pursuing learning opportunities beyond high school, to learning how to invest, Butler’s book covers every topic clearly and simply for financial beginners.

• Get Money by Kristin Wong (Adult Nonfiction)
  • Want to maximize your money? Wong’s fun-to-read book gives creative suggestions on how to make the most of your income with a special focus on getting out of debt and preparing for financial emergencies.

• How to Money by Jean Chatzky
  • This practical resource is full of colorful visuals, charts, and diagrams to give budding budgeters and new credit card carriers a strong overview of financial basics without having to wade through text heavy explanations. Chatzky’s clear definitions of basic terms such as APR, deductible, and debit should be very helpful for new earners.

• Money Matters for Teens by Youth Communication
  • Youth Communication aims to prevent teens from learning about money the hard way! Containing essays by thirty-four different teen authors sharing their personal experiences with money, this book not only talks about typical topics such as budgeting and credit, but also gives advice about career paths, college finance, and transitioning out of the foster care system.

• Money Out Loud: All the Financial Stuff No One Taught Us by Berna Anat (also available on Hoopla)
  • Anat contends that in many families, including hers, money is a taboo topic, and she says it’s time to break the silence and “figure this me$$ out together.” This fully illustrated guide details all the basics of budgeting, credit, and investment, but also invites you to explore the experiences and emotions that might be shaping your thoughts and behaviors around money.

• Paying for College: Everything you Need to Maximize Financial Aid and Afford College by Chany Kalman
  • This annually updated guide to financial aid has some good news: there are literally billions of dollars of aid available to help you pay for college. The author shares long and short-term strategies to help you get the aid you need. What’s more, it’s the only book that contains a line-by-line guide on how to fill out a Free Application for Federal Student Aid form (FAFSA).

Additional helpful titles include:

• I Didn’t Learn That in High School: 199 Facts About Credit Scores by Jeff Zschunke (also available on Hoopla)
• Teen Guide to Credit and Debt by Craig E. Blohm
• Teen Guide to Financial Literacy by Joseph Ferry
• Teen Guide to Saving and Investing by Stephen Currie
• The Teen Money Manual: A Guide to Cash, Credit, Spending, Saving, Work, Wealth and More by Kara McGuire

ADDITIONAL RESOURCES

• When it’s time to buy your first car or big appliance with all your hard earned money, how do you know which to purchase? Take a look at Consumer Reports—free with your Henrico County Public Library card! Consumer Reports ranks cars, washing machines, and many other items by reliability and value for your money. Don’t stumble around in the dark for these big ticket purchases. Do your homework with Consumer Reports and make choices that will make you happy in the long run. 

• If you’re interested in learning more about investing, check out Valueline for unbiased data and research about stocks and markets. Visit Value Line University within the Investment Education section to learn the basics about investing, building a portfolio, and studying stocks. Like Consumer Reports, access to Valueline is free with a library card!