Money and Teens by Wes Karchut, M.B.A. & Darby Karchut, M.Ed.

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Money and Teens by Wes Karchut, M.B.A. & Darby Karchut, M.Ed.

Book review by Jackie Paulson © 2012

(For Young adult and Teens learning about Finance)

This book talk to teens but anyone can learn from it. The main point to say is that we all want things.

Teens want Computers, Cars, and a College Degree. I know I would in the 21st Century! Is it possible? Absolutely.
I especially loved the Key concepts at the end of the chapters where anyone can apply the personal finance tips and tricks to getting what you want with the proper goals and mind set.

It talks about:
· How to open a checking account

· How to check your credit report

· What happens when you miss a credit card payment

· How to spot tactics grocery stores use to get you to spend more money

· Why you never give your PIN to anyone

· How to keep more of your money from each paycheck you earn

You will learn the 28 money skills that will change your life, for example how to understand debt and when it is good to use it. When you should not use your credit card. Why you need to understand your credit score. The debt payments everyone should avoid. How to write checks. How to make a budget and so much more!
I loved the helpful Financial vocabulary to be able to know what something was and to reference to later. The stories he shares brings you to the fact that in hard times anyone can apply his steps and be able to afford the things in life you want.
Wow, there is a quiz to help you decide if you should purchase something:
For example,
Am I buying this because everyone else has this item?
Am I buying this to impress others?
Because I am bored?
Etc…

Why it is important to take the quiz is to determine if you want something or NEED something.

Here is helpful advice from the book: Never ever buy extended warranties.
Enough said, you have to get this book! I need to get it for my daughter and put it in her Christmas stockingor give to her for her birthday or graduation! I wish when I grew up there were more like these tips and tricks to learn from. As an adult with a teen I can sure tell you that I learned all of what is in the book from the hard way, going into debt and taking years to pay it off. So many secrets I could tell you but if you get this book then you don’t need my advice too!