Financial Management Guide For Teens

Essential Money Skills for Ambitious Teens by River Ellington, 152 pp 

Teenagers are at a very important juncture in life – the cusp of adolescence and adulthood. Several lifetime habits, friends, beliefs, practices, etc. are formed at this age. Most teens live with parents, go to school, and hang out with friends, they rarely think of money, savings, etc. Their needs for the most part are taken care of by parents. Despite financial literacy being so vital for a successful, and comfortable life, most of us have had to figure things out via trial and error.

In this scenario comes River Ellington’s latest book on financial literacy, smart saving, and investing titled “Essential Money Skills for Ambitious Teens.” Spanning over 150 pages this book introduces the world of money, savings, investments, and other life skills to teens. Introducing the need for this book Ellington writes: “Most teens don’t think much about money until they don’t have enough of it. Whether it’s wanting the latest shoes, saving for a car, or dreaming about financial independence, money plays a huge role in shaping the life you want. Yet, schools rarely teach real-world financial skills, leaving many young adults to figure things out through trial and error.”

Divided into nine easy to read chapters, the book also gives some bonus information and benefits including: a. Teen money toolkit; b. Side hustle starter pack; c. Money mindset makeover workbook; and d. Scam safe teen cheat sheet. These digital resources are free and beneficial for the teens starting their journey into adult life of earning money, paying bills and managing finances.

Essential Money Skills for Ambitious Teens lists eight habits – a chapter dedicated to each that would transform a naïve teen into a financial savvy young adult. Starting off with a chapter on “Shift your money mindset,” the book delves into “Pay yourself first,” followed by sections on budgeting and spending wisely, aligning with values, monetizing skills, among others. Concluding with a two page epilogue the book reinstates the eight habits of financial savvy children and provides a 3-year plan to implement the habits and strategies in this book.

I think this book is a must read for teenagers heading to college, being out of the security of home first time in their lives, as also to parents of teenagers, and anyone that is starting out on their financial independence journey.