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High School Money Book - Book Review

By Patrick on May 30, 2008 in Reviews

high-school-money-book.jpgI’ve mentioned several times in the pages of this site that I think personal finance topics should be taught to high school students. Well, High School Money Book is designed to be that primer. I would consider this book to be a jack of all trades, master of none, type book because of its breadth of topics covered, and the fact that the book just gives an overview into each topic. This style of writing is perfect for anyone just getting introduced to personal finance topics.

The good: High School Money Book gives a high level overview for understanding the true value of money, making financial goals, frugal living, shopping tips, credit and debt, philanthropy, preparing for college, online banking, basic investing, working, and preparing for the future with topics like insurance, mortgages, preparing wills, and more. While none of these topics go in depth, they give enough information to get the reader thinking about the topic, which is the goal of the book.

The bad: The only bad thing I can say about this book is that it does not go into much detail on most topics. However, this book is not aimed at people who already have a strong foundation in personal finance topics.. It is designed to be an introductory book, and it does a good job. But some people may read this and feel like they want more information. That is actually a good thing because then the author achieved the results for what he set out to do: get people thinking about money and personal finance.

Should you buy High School Money Book? Even though the title is High School Money Book, this book makes an excellent beginner’s guide to personal finance and is good for all ages. High School Money Book is also a good read for a quick review of personal finance principles. While I don’t consider myself an expert on personal finance (though I think I have a strong foundation), I learned a few things in this book. I wouldn’t recommend this book to people with a lot of experience, but I would definitely recommend it to anyone graduating high school, college, or to anyone who needs a good place to begin their financial education.

Following my tradition for book reviews, I will give this book away. However, since my (much younger) sister is graduating high school next week, I will give this to her. She just doesn’t know it yet. ;)

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  1. 8 Comment(s)

  2. By MelStar on May 30, 2008 | Reply

    Sounds like a good book for high school students. They really do need to put more focus on personal finance in the high schools. Students get good educations but no one ever teaches them about money and how it works and the need to start saving at a very early age.

    Excellent recommendation

  3. By rocketc on May 30, 2008 | Reply

    I would prefer that schools stay away from the area of personal finance for many reasons. Too bad parents have dropped the ball in this area.

  4. By Patrick on May 30, 2008 | Reply

    Rocket,

    I’m of the opinion that basic personal finance should be taught in high schools. Many students don’t know how to balance a checkbook or have a basic understanding or taxes, credit, insurance, loans, and more. Buying a car shouldn’t be the first time someone thinks about their credit score or tries to understand interest rates. Many people don’t think about personal finance until they need it - which is often too late.

    Of course, I don’t have the ideal solution for what schools should teach, and I’m sure a lot of school systems would find a way to botch it up. But I think an introductory course is better than leaving people to find out on their own. Otherwise, too many people will wait until it is too late.

    As for parents teaching it, yes I think they should, but there are so many people who don’t know anymore than their children.

  5. By My Dollar Plan on May 30, 2008 | Reply

    I agree, schools should teach personal finance. Maybe not opinions on money, but they need to be teaching money management skills! If parents don’t have the knowledge and the schools skip it, we’re putting our children at a disadvantage. I could go on forever, since teaching kids about money is my passion…

  6. By Dividend Growth Investor on May 31, 2008 | Reply

    Well I personally do agree that high-schools should teach personal finance. However, I doubt that people of this age will actually want to learn it from a school. Geography,English and Math are also taught in high-school, yet high-schoolers results are deteriorating.

  7. By Mark @ TheLocoMono on May 31, 2008 | Reply

    Motley Fool has an excellent book for high school students to read, I forget the title but anyone can look it up on Amazon.

  8. By jd on Jun 14, 2008 | Reply

    Basic personal finance principles absolutely need to be taught to our high school students. We need the next generation of Americans to learn how to budget and save before they reach the age at which they can obtain a credit card.

  9. By Patrick on Jun 14, 2008 | Reply

    jd,
    Agreed. Unfortunately, too many school systems focus on teaching standardized tests and outdated information instead of teaching students things they can use in real life when they graduate.

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