What is a good book for a 17 year old.

**Kircheis** · 06-14-2014, 05:29 PM

For an easy to read guide to budgeting and finance, I would recommend
"All Your Worth" by Elizabeth Warren and her daughter. I really thought that the book explained things in very easy to understand concepts.

**Eagle** · 06-16-2014, 05:59 AM

Originally posted by mrpaseo View Post

My daughter will be starting College in AUG, she is still living at home with us and it looks like we will have her college covered for her. I want her to understand about the costs and finances in general so I want a good book to start with. Any suggestions?

A small background, she does not work, has not worked other than helping out the neighborhood. She understands the value of a dollar from the allowance that she has received over the years. Right now she earns $30 a week and we will probably up that to $50 per week when she starts college (At the age of 18). She will be driving one of our vehicles.

She banks at least 15% of her allowance (And always has) so she has a little saved up in the bank (About $2,200) She understands that this money is for retirement (Though it is not yet in a retirement account).

All comments welcome.
Ray

Consider encouraging her to get a summer job. She still has a couple months left. Also encourage her to get summer jobs (Summer 2015, 2016, 2017, 2018) in-between her classes. An internship preferably if she can get one.

Here's some books I'd recommend

“Get a Financial Life: Personal Finance in Your Twenties and Thirties” By Beth Kobliner

Chapter one is a 12-page summary of the entire book - "a cheat-sheet for time-pressed readers," as Kobliner calls it.

“Saving for Retirement (Without Living Like a Pauper or Winning the Lottery)” By Gail MarksJarvis

Explains such concepts like a mutual fund and other concepts about investing without confusing the reader along the way. It looks a little intimidating at first glance of the table of contents but the good thing is the topics are broken down with small easy to read topic headings.

“The Wealthy Barber” By David Chilton

Written as a novel about three young adults who realize they don’t know much about finances. Pretty easy to follow.

Also check out: Five Money Mistakes High School Grads Make

Hope this helps.

**krantcents** · 06-16-2014, 08:21 AM

Don't underestimate the knowledge she will gain by living on an allowance. When I went away to college, I lived on the money I earned that summer. It is a real life lesson to live on a budget. When my kids went away to college (at 17 y.o.), I put them on a budget too. They did take on part time jobs to supplement their budget. Something I did during college too.

**jackmiller** · 06-23-2014, 05:14 AM

I would say Rich Dad Poor Dad. Not about budgeting but def leaves an impression on mutiple streams of income!

**JoeP** · 06-23-2014, 07:23 AM

"The Millionaire Next Door" is a good eye-opener for any age. It tears down the common perceptions of what a "millionaire" could look like, and also gives insight on the habits that can lead one to financial security.

**jasonandrick** · 06-24-2014, 10:04 AM

I would recommend The 4-Hour Workweek by Timothy Ferriss
I loved it and anyone I meet tells me the same.

**bigdaddybus** · 09-11-2014, 05:51 AM

I just read Stop Acting Rich: . . . And Start Living Like a Real Millionaire by Thomas Stanley this week.

The book has alot of good themes such as not buying too much house and getting caught up in branding. It also shares alot of interesting stats about careers that tend to have alot of high earners with low net worth (doctors and lawyers) vs careers that tend to have a high net worth with moderate incomes (college professors and engineers)

Its a good quick read with alot of interesting stats (if your the nerdy numbers type like me)

**autoxer** · 09-11-2014, 10:04 AM

'If You Can: How Millennials Can Get Rich Slowly'
by William Bernstein

It's a short easy read.

What is a good book for a 17 year old.