BOOK REVIEW and GIVEAWAY: High School Money Book by Don Silver

April 24, 2008 By Debbie Dragon

The title of this book tells me it’s geared towards High School students, but even though I’m technically an adult (and way beyond my high school years), when I was reading my copy, I couldn’t seem to put it down.

The sentences are short and written in language that’s easy to understand the first time through, which helps you speed right through the book while understanding everything you read.  My first impression of the book in general was that it would make a very good textbook for the high school class that doesn’t seem to exist: a course to teach students about money management that will benefit them in their adult lives.

With that being said, the book would serve as a textbook for an introductory level personal finance course, but as high school students- that’s about all they need until they get into college or out into the full-time working world.  Understanding the basics of responsible money management will make it possible for teenagers to make good financial decisions as they face life without their parents constant guidance.

I’m sure most people feel that the responsibility of teaching young adults about the value of money, and responsible money management falls on the shoulders of the parents.  I tend to agree with this in general, but what happens when the parents were inadequately taught how to manage money themselves?  The “High School Money Book” is a great tool for parents and teenagers to improve their knowledge of personal finance.

Because the book is geared for high school students, there are many references and suggestions for dealing with situations unique to that age group.  For example, in the chapter called Money-Smart Ways to Think there is a section called The Price of Being “in” and Tulip Mania.  Here, the author talks about the tulip craze in 1637 - everyone had to have the best tulips, regardless of their economic class or ability to pay the inflated prices for these tulip bulbs. The bulbs were sold in auctions for insanely high prices, because people were buying them to resell and earn big money.   Before these people knew it, they had tulip bulbs that had lost their value, and people wondered why they had traded their homes and other valuables to get the tulips.  The story of Tulip Mania is then related to the trend of teenagers wanting the latest fashions and brand names to fit “in”.

I was also personally impressed that the book includes a chapter for work.  It seems that there are less high school aged students who have part time jobs than when I was in school.  I remember most of my friends had some sort of job on the weekends and/or after school.  Now, there are less babysitters, lawn mowers, and paperboys.  Personally, I think high schoolers need this first exposure to work.  They should earn their own money and learn to save some, pay for some of their clothing or entertainment, and really learn the value of a dollar.  The Money Smart Ways to Work chapter discusses finding a good job, applying, and even becoming an entrepreneur.

I would recommend this book to all teenagers.  It’s informative, easy to understand, will help them make better decisions about shopping, saving, and planning for their futures.  And, it wouldn’t hurt for mom or dad to have a quick read, either!

American Consumer News is Giving Away One Copy of the HIGH SCHOOL MONEY BOOK!

If you’d like to receive a free copy of Don Silver’s High School Money Book, you can leave a comment to this blog post.  I will randomly choose a winner from all comments on May 1st.  If you are the winner, I will contact you for a mailing address to ship your book! 

If you aren’t the lucky winner, you can click the image of the book above and purchase from Amazon.com, or from any of your favorite booksellers.

Posted in Reader Appreciation Giveaway, books, children, education, family, money, parenting, saving money, shopping