Managing Your Money by Jane Bingham, Holly Bathie, Nancy Leschnikoff and Freya Harrison - book review: The good news is that it’s never too late to learn a bit of money sense!
Managing money is one of the most important tasks we face throughout our lives… so here’s a book that will set youngsters on a steady and financially capable course.
When children leave school, their heads are (hopefully!) filled with academic knowledge but many struggle to cope with the everyday realities of managing their money, whether that’s budgeting, spending, saving, using credit cards or simply banking.
So that is why the wise editors at Usborne Children’s Books stepped in to create an invaluable, friendly and easy-to-understand book that is designed to take the mystery out of managing your money whether you are aged 11 or 111.
Authors Jane Bingham and Holly Bathie spent time talking to teenagers and parents and came across a lot of anxiety about handling money, but no real resources.
Although financial knowledge is now included in the UK National Curriculum, they found most of the resources were very dry, with lots of charts and graphs and technical language.
As there was nothing really accessible in the bookshops, they decided to produce their own teenage-friendly guide to the world of money… something informative but also fun, designed to take the mystery out of managing money.
The result is this down-to-earth guide, filled with practical advice on everything from how to budget and be a smart shopper to student loans, mortgages and insurance, and demystifying financial terms.
It is an essential book for equipping young people with the skills they need to manage their money now and in the future, and includes links to reliable websites with more tips and advice.
Young people learn how to take charge of their own finances and make the most of their money, and there are tips on how to earn money, how to be a smart spender and how to plan ahead so that you can spend your money on the things and people that really matter to you.
Managing Your Money includes advice on insurance, student loans, rent, mortgages, jobs, investment, interest, bitcoin, credit cards, discounts, gambling, budget, in-app purchases, savings, banks, overtime, income tax and data.
And at the recommended Usborne Quicklinks websites, you can visit a virtual bank or watch a video about opening a bank account, download a budget sheet, find a budget-building app and learn more about topics such as student finance.
‘Research,’ the authors tell us, ‘shows that children learn about money from watching how their parents manage their money, but many adults are not themselves confident about making money decisions.’
The money habits developed while you are still young usually stay with you for the rest of your life and the good news is that it’s never too late to learn a bit of money sense!
(Usborne, paperback, £6.99)