14,99 €
Mehr erfahren.
- Herausgeber: John Wiley & Sons
- Kategorie: Ratgeber
- Sprache: Englisch
Get your money game started off on the right foot with this easy-to-read guide
In Personal Finance For Teens For Dummies, a team of celebrated financial educators walks you through how to handle your money so you can keep your debt low (or pay it off, if you've already got some), invest intelligently, and build the future you've always dreamed about.
This is the go-to guide for any young person who gets anxious whenever they think about how they're going to make ends meet, pay for school, or save for their future. You'll explore everything from how to responsibly manage your first credit card to tips for buying your first car and finding scholarships to reduce your tuition.
You'll also find:
- Companion materials, including online videos, infographics, printable resources, and worksheets you can use right away
- Strategies for creating a budget you can stick to and setting goals for saving and investing
- Explanations of how insurance—including car insurance—works, and how you can save money and time when you buy it
So, whether you've got a teen in your life who could use a helping hand and a head start on managing their money—or you are that teen—Personal Finance For Teens For Dummies will show you the financial ropes in an easy-to-understand way that's actually fun to read. Grab your copy today!
Sie lesen das E-Book in den Legimi-Apps auf:
Seitenzahl: 497
Veröffentlichungsjahr: 2025
Ähnliche
Personal Finance for Teens For Dummies®
To view this book's Cheat Sheet, simply go to www.dummies.com and search for “Personal Finance for Teens For Dummies Cheat Sheet” in the Search box.
Table of Contents
Cover
Title Page
Copyright
Introduction
About This Book
Foolish Assumptions
Icons Used in This Book
Beyond the Book
Where to Go from Here
Part 1: Discover How to Build Your Financial Muscles
Chapter 1: Starting Your Financial Journey
Mastering Your Personal Finances
Unlocking the Benefits of Good Financial Habits
Confronting the Challenges of Managing Money
Mapping Out the Journey (aka This Book’s Roadmap)
Chapter 2: Creating Your Financial Workout Plan
Starting with Your Money Goals
Knowing You Don’t Need It, You Want It
Deciding to Spend, Save, or Invest
Chapter 3: The Money Warm-up
Finding a Trusted Adult
Opening Your First Checking Account
Knowing Your Options at Financial Institutions
Chapter 4: Budgeting Basics
Budgeting: The Money Comes in, Then the Money Goes out
Budgeting Styles
Budgeting in Action
Budgeting Apps
Chapter 5: Everybody Needs a Little Credit
Mastering Personal Credit 101
Keeping Score: Your Credit Profile
Digging Into Your Credit Report
Building Your Credit to 800+
Chapter 6: Breaking Down Debt
Looking at Different Types of Debt
Applying for Specific Loans
Paying Down Your Debt
Part 2: Money Matters for Middle Schoolers
Chapter 7: My Money and Me
Understanding Money Basics as a Middle Schooler
Discovering Where Your Money Goes
Chapter 8: Money for the Future
Imagining Your Future Self
Financial Goals As a Middle Schooler
Future Financial Goals As an Adult
Earning Money in the Future
Considering Your Future Career Options
Chapter 9: Managing Money in Middle School
Visiting the Bank
Understanding Credit in Middle School
Understanding Debt in Middle School
Budgeting in Middle School
Discovering Different Ways to Budget
Part 3: Money Matters for High Schoolers
Chapter 10: Work Hard, Study Hard
Making the Most of Student Discounts
Finding Work-Study Programs in College
Working Non-Campus Jobs While Studying
Becoming the Intern
Chapter 11: Getting Ready for Life After High School
Weighing Your Options After High School
Considering a Gap Year
Attending Community College
Attending a Four-Year College
Attending a Trade School
Choosing to Join the Military
Going to AmeriCorps VISTA
Chapter 12: Getting Into Your Dream College
Deciding If College Might Be Right for You
Ticking Off the College Requirement Checklist
College-Readiness Programs
Taking Your Standardized Tests
Filling Out Your College Applications
Chapter 13: Securing the Bag (for College, That Is)
Different Types of Financial Aid
Looking into the FAFSA
Discovering Ways to Cut Education Costs
Part 4: Making Money Like an Adult
Chapter 14: Earning Money at Work
Creating the Resume of a Rockstar
Networking
Landing Your First Interview
Reading Your Job Offer
Negotiating Your Offer: How to Ask for More
Chapter 15: Reading Your Paycheck
Understanding Your Gross Pay versus Net Pay
Making Mandatory Paycheck Deductions
Making Optional Paycheck Deductions
Chapter 16: The Real Cost of Work
Looking at What Taxes Cover
Understanding Job-Related Expenses
Chapter 17: Protecting Your Money Online
Taking Your Personal Finance Cybersecurity Seriously
Avoiding Online Scams
Taking Steps After You’ve Been Scammed
Chapter 18: Bills, Bills, Bills
Becoming More Independent
Choosing to Live with Roommates or Alone
Choosing a Location
Paying Utility Bills
Securing Resources
Protecting Yourself
Part 5: Preparing for the Big Things
Chapter 19: Buying Your Dream Car and Other Big Purchases
Buying Your First Car
Taking a Dream Vacation
Getting a Jump Start on a Home
Chapter 20: Investing for the Future
Getting money to start investing
Choosing a Brokerage That Fits
Unlocking the Investment Strategy of Winners
Growing Money for Your 60s
Chapter 21: Protecting Yourself with Insurance
Understanding Health Insurance
Getting Life Insurance
Looking at Disability Insurance
Using Other Types of Insurance
Part 6: The Part of Tens
Chapter 22: The Ten-Part Teen Tax Toolbox
Common Tax Forms You’ll Need
Taxable versus Non-Taxable Income
You May Need to File Even If You’re a Teen
Free Filing Tools Are Perfect for Beginners
Your Trusted Adult May Need to Help You File
Refunds Are Real Money
State Taxes Vary by Location
Keeping a Tax Folder
Understanding Tax Brackets
Adjusted Gross Income Matters
Chapter 23: Creating a Win File: Your Ten-Part Personal Highlight Reel
Discovering What Goes in a Win File
Going Digital for Easy Access
Finding Out How to Log Your Wins
Don’t Forget Personal Wins
Looking at Long-Term Benefits
Starting Small, Staying Consistent
Collaborating with Mentors and Advisors
Adding Multimedia Highlights
Keeping It Professional
Preparing for the Future
Index
About the Authors
Connect with Dummies
End User License Agreement
List of Tables
Chapter 2
TABLE 2-1 Credit Cards vs Debit Cards
List of Illustrations
Chapter 5
FIGURE 5-1: FICO credit score range diagram.
Chapter 6
FIGURE 6-1: An example of how different interest rates can affect a monthly pay...
FIGURE 6-2: Planning debt repayment using the snowball method.
FIGURE 6-3: Using the avalanche method to organize debt by interest rate.
Chapter 11
FIGURE 11-1: Comparing college to trade school.
Guide
Cover
Table of Contents
Title Page
Copyright
Begin Reading
Index
About the Authors
Pages
iii
iv
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
95
96
97
98
99
100
101
102
103
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
228
229
230
231
232
233
234
235
236
237
238
239
240
241
242
243
244
245
246
247
248
249
250
251
252
253
254
255
256
257
258
259
260
261
262
263
264
265
266
267
268
269
270
271
272
273
275
276
277
278
279
280
281
282
283
284
285
286
287
288
289
290
291
292
293
294
295
296
297
298
299
300
301
302
303
304
305
306
307
308
309
310
311
312
313
314
315
316
317
318
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
339
340
341
342
343
344
345
346
347
348
349
350
351
352
353
Personal Finance For Teens For Dummies®
Published by: John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030-5774, www.wiley.com
Copyright © 2025 by John Wiley & Sons, Inc. All rights reserved, including rights for text and data mining and training of artificial technologies or similar technologies.
Media and software compilation copyright © 2025 by John Wiley & Sons, Inc. All rights reserved, including rights for text and data mining and training of artificial technologies or similar technologies.
Published simultaneously in Canada
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the Publisher. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions.
Trademarks: Wiley, For Dummies, the Dummies Man logo, Dummies.com, Making Everything Easier, and related trade dress are trademarks or registered trademarks of John Wiley & Sons, Inc. and may not be used without written permission. All other trademarks are the property of their respective owners. John Wiley & Sons, Inc. is not associated with any product or vendor mentioned in this book.
LIMIT OF LIABILITY/DISCLAIMER OF WARRANTY: THE PUBLISHER AND THE AUTHOR MAKE NO REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE ACCURACY OR COMPLETENESS OF THE CONTENTS OF THIS WORK AND SPECIFICALLY DISCLAIM ALL WARRANTIES, INCLUDING WITHOUT LIMITATION WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE. NO WARRANTY MAY BE CREATED OR EXTENDED BY SALES OR PROMOTIONAL MATERIALS. THE ADVICE AND STRATEGIES CONTAINED HEREIN MAY NOT BE SUITABLE FOR EVERY SITUATION. THIS WORK IS SOLD WITH THE UNDERSTANDING THAT THE PUBLISHER IS NOT ENGAGED IN RENDERING LEGAL, ACCOUNTING, OR OTHER PROFESSIONAL SERVICES. IF PROFESSIONAL ASSISTANCE IS REQUIRED, THE SERVICES OF A COMPETENT PROFESSIONAL PERSON SHOULD BE SOUGHT. NEITHER THE PUBLISHER NOR THE AUTHOR SHALL BE LIABLE FOR DAMAGES ARISING HEREFROM. THE FACT THAT AN ORGANIZATION OR WEBSITE IS REFERRED TO IN THIS WORK AS A CITATION AND/OR A POTENTIAL SOURCE OF FURTHER INFORMATION DOES NOT MEAN THAT THE AUTHOR OR THE PUBLISHER ENDORSES THE INFORMATION THE ORGANIZATION OR WEBSITE MAY PROVIDE OR RECOMMENDATIONS IT MAY MAKE. FURTHER, READERS SHOULD BE AWARE THAT INTERNET WEBSITES LISTED IN THIS WORK MAY HAVE CHANGED OR DISAPPEARED BETWEEN WHEN THIS WORK WAS WRITTEN AND WHEN IT IS READ.
For general information on our other products and services, please contact our Customer Care Department within the U.S. at 877-762-2974, outside the U.S. at 317-572-3993, or fax 317-572-4002. For technical support, please visit https://hub.wiley.com/community/support/dummies.
Wiley publishes in a variety of print and electronic formats and by print-on-demand. Some material included with standard print versions of this book may not be included in e-books or in print-on-demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at http://booksupport.wiley.com. For more information about Wiley products, visit www.wiley.com.
Library of Congress Control Number: 2025933269
ISBN: 978-1-394-31573-4 (pbk); 978-1-394-31574-1 (epub); 978-1-394-31575-8 (ebk)
Introduction
Hey there! You’ve just picked up a book that could change your life in ways you never imagined. Whether it’s saving for your first car, planning an epic post-graduation trip, or simply being tired of not knowing where all your money goes, we’re here to help you figure it all out. Managing money might seem like something only adults need to worry about, but trust us, there’s no such thing as being too young to start caring about your financial future.
We’re Athena and Mykail, your co-pilots on this financial journey. Athena knows what it’s like to overcome major challenges, like being homeless in high school. Now she’s a financial columnist making her voice heard. Mykail, also known as The Boujie Budgeter, turned her passion for teaching young professionals into a mission to make complex money topics simple and approachable. Together, we’re on a mission to empower the next generation — yes, that’s you — to take control of your finances and build a future you’re proud of.
Here’s the good news: You don’t need to be a math genius or have a ton of money to start learning about personal finance. Whether you have $5 from your allowance or you’re earning your first paycheck from a summer job, you can start building healthy money habits today. Grab a notebook, set some goals, and let’s start building your financial future!
About This Book
Managing money doesn’t have to be scary, boring, or overwhelming. Personal Finance for Teens For Dummies is your go-to guide for everything you need to know about money, written in a way that’s easy to understand and (dare we say it) even fun. Inside, you’ll find chapters that cover budgeting, saving, investing, earning, and much more. We’ll also walk you through setting goals and making smart financial decisions that align with your dreams.
Let’s say you’ve been saving up for a new gaming console. You’ve got the cash but wonder, “Should I spend it all at once? When can I start investing? Am I making the best choice for my money?” Or maybe you’re thinking about how to earn enough for your senior trip. We will answer those questions and more.
This book is packed with practical tools like downloadable resources, engaging videos, and clear charts to help you every step of the way. We’ve also included real-life stories (both our own and from people we’ve worked with) to show you how these tips work in real life. Whether you’re building your first budget or discovering how to invest, you’ll find examples and encouragement to help you take action.
Foolish Assumptions
While writing this book, we imagined you might be:
A teenager ready to explore financial independence for the first time.
Curious about how to make, save, and grow your money.
Looking for straightforward advice, with no boring lectures attached.
Hoping to achieve big dreams, whether that’s going to college, starting a business, or traveling the world.
Someone who loves a good hack, shortcut, or actionable tip to make learning easier.
Sound like you? Then this book was made for you!
Icons Used in This Book
You don’t have to read this book cover to cover (though you totally can). Think of it as your financial toolkit. You can jump straight to the chapter that answers your most pressing questions — like how to save for college or what credit cards are all about — or read it in order, to build your knowledge step by step.
We’ve also included special icons to help you navigate the book.
Tip:
Look for these whenever you want quick, actionable advice you can use right away.
Remember:
These highlight important things you shouldn’t forget as you manage your money.
Technical Stuff:
Indicates information that goes into a little more detail.
Warning:
Watch out for common pitfalls or risks so you can steer clear of money mistakes.
Beyond the Book
In addition to the pages you’re reading right now, this book comes with a free, access-anywhere online Cheat Sheet that summarizes some of our key advice at a glance. To access this Cheat Sheet, go to www.dummies.com/ and type Personal Finance for Teens Cheat Sheet in the search box. For more helpful tips on investing as a teen, you can find videos on topics related to the book at www.dummies.com/go/personalfinanceforteensfd.
Where to Go from Here
No matter where you are in your financial journey, this book is here to guide you. Maybe you’re just starting to earn money and want to know how to save it. Maybe you’re eyeing your dream college and wondering how to afford it. Or maybe you’re already thinking about investing (yes, that’s something teens can do!). Wherever you start, we promise to make it easy, encouraging, and even fun.
The best part? Every good habit you build today will pay off tomorrow … and for the rest of your life. So let’s dive in, set some goals, and make the future version of you really, really proud.
Part 1
Discover How to Build Your Financial Muscles
IN THIS PART …
Understand financial planning basics.
Create a financial plan to build long-term wealth and stability.
Understand the importance of managing your money with a strategic mindset.
Find out the essentials of budgeting and setting financial goals.
Discover how credit works and why it’s important for your financial health.
Explore ways to manage and reduce debt effectively.
Chapter 1
Starting Your Financial Journey
IN THIS CHAPTER
Seeing why money matters
Creating good money habits
Deciding how to plan for the future
Looking at an overview of this book
We get it — money, that is. More importantly, we (Athena and Mykail) get how confusing and overwhelming finding out about money can be. With that in mind, we plan to give you all the tools you need to get your money started off right! Because no matter how confusing money may seem, there is always a way to figure it out.
Personal finances are so much more than spending money on all the fun and cool things that you like. Money is the resource that you can use to completely change your life. Luckily, you have not one but two money friends here giving you all the details on all things money.
Personal finance is a bit like mastering a complicated board game. The rules can be confusing at first, but once you get the hang of them, winning (aka reaching your goals) becomes a lot easier. Think of this chapter as your sneak peek at the game board: We’ll touch on everything from budgeting to taxes, but we won’t dive into the nitty-gritty just yet. By the end, you’ll know exactly where to turn in this book for detailed guidance on each topic.
In this book, you’ll explore why money matters at every stage of your life, especially from middle school to adulthood. But before you jump in, let’s take a quick tour of what you can expect.
Mastering Your Personal Finances
Money might seem scary at first (numbers, bank accounts, taxes, oh my!), but getting a handle on your personal finances is a powerful way to take control of your life. This section explains why financial literacy matters, then guides you through the essentials of budgeting, saving, and spending.
Discovering why financial literacy matters for teens
They say, “money makes the world go ’round,” and while that might be a slight exaggeration, having a solid handle on your finances definitely keeps your world from spinning out of control. When you start building healthy money habits now,
You stress less:
Knowing where your cash is going (and why) can save you from late-night panic over bills.
You dream bigger:
Want to save for a first car or an epic post-grad adventure? Budgeting early on makes that possible.
You stay flexible:
Life changes, like going to college or starting a side hustle, feel more doable when you have a financial foundation.
You don’t have to master every topic right away; that’s what this book is for. Take it one chapter at a time, and celebrate each win.
Exploring the basics of budgeting, saving, and spending
Think of budgeting as a roadmap for where your money goes. To build a budget, you must do the following:
Track your income
from allowances, jobs, or side gigs.
Plan your expenses
for essentials like food and optional fun stuff like movies.
Set aside savings
for future goals or emergencies.
Saving means paying yourself first. Even setting aside a few dollars each time you earn money can grow your savings over time. Spending wisely means balancing what you want now with what your future self will need. It is crucial to practice good money habits today to create a foundation for lifelong financial wins.
Unlocking the Benefits of Good Financial Habits
Building strong money skills early unlocks a future filled with possibilities. Here’s how good financial habits can make your life easier and more fulfilling.
Lowering financial stress through smart planning
Having a plan for your money turns chaos into clarity. By setting up a simple budget (Chapter 4 digs deeper), you know exactly where your cash is going, leaving less room for anxiety. Plus, planning helps you avoid last-minute scrambles, like struggling to pay for surprise expenses.
Improving your life with thoughtful money choices
When you make intentional spending decisions, it’s easier to afford the things that truly matter, like a hobby, a trip, or an emergency fund for peace of mind. Good financial habits encourage you to say “yes” to meaningful opportunities instead of being tied down by unnecessary debt or spending. Chapters 2, 3, and 4 focus on building those good habits early.
Handling taxes and what they mean for you
Even if you’re a teen, taxes can affect your paycheck or side hustle earnings. Taxes might seem boring, but they’re unavoidable, so knowing the basics helps you keep more of the money you earn (turn to Chapter 22 for more tax tips). Don’t be nervous about taxes; as working citizens, we have to pay them, too, and we also explain why they are required.
Saving for short- and long-term goals
Saving short-term can mean setting aside cash for things like a concert ticket or new sneakers. Long-term goals might include paying for college, starting a business, or even investing for retirement (yes, that’s something teens can do!). Good habits now set you on a smooth path for later. We chat more about money for future you in Chapters 8 and 20.
Claiming your financial independence
Imagine being able to make life choices (like studying abroad or moving out) without money worries holding you back. Solid financial habits build a safety net, giving you the freedom to explore, take calculated risks, and follow your dreams. Chapters 11 and 19 focus on helping you decided what your financial independence will look like.
Confronting the Challenges of Managing Money
Nothing will come easy to anybody who is learning about money. There are so many mindset shifts and new terms you will discover to better manage your personal finances. Even with all this information, you can still make money mistakes. This is totally normal and 100 percent okay. Even as adults, we still make money mistakes. Your journey won’t be perfect, and that doesn’t make you a bad person.
Deciding your financial path
Financial literacy is for everyone because everyone needs to understand money. However, we all have different financial paths and goals. Your financial path is specifically for you. We all find out about and see money differently; finding what works best for you is half the battle. Throughout this book we encourage you with our advice and give you different options to tackle problems you may face.
Aiming for financial freedom
Ask yourself: Do I want to rely on others forever, or would I prefer making my own decisions with my own funds? If you’re aiming for independence, a solid financial plan is your ticket to freedom. Financial freedom looks like have great credit (Chapter 5), building a solid budget (Chapter 4), destroying debt and bad habits (Chapter 6), making money (Chapters 14 and 15), paying bills (Chapter 18), and spending your money things that make you happy.
Launching your first budget or savings plan
Still on the fence? Starting small helps you see quick wins. Even a mini-budget, such as saving $5 a week, can be a game-changer. Turn to Chapter 3 to dip your toes in the water of money management or Chapter 4 for a full budget breakdown.
Mapping Out the Journey (aka This Book’s Roadmap)
Here’s a taste of what you’ll find in each part of the book.
Part 1
: Learning How to Build Your Financial Muscles.
We start with the basics, like creating a financial workout plan and discovering the building blocks of budgeting. These chapters show you the value of flexing your money muscles early.
Parts 2
and
3
: Money Matters for Middle Schoolers and Money Matters for High Schoolers.
Whether you’re just discovering how to manage lunch money or planning to find a part-time job, we’ve got you covered. These sections guide you through the financial challenges (and opportunities) you’ll face before graduation day.
Part 4
: Making Money Like an Adult.
Ready to step into the working world? We’ll show you how to read your paycheck, what to watch for in a job offer, and how to handle the real costs of working (such as transportation or uniforms).
Parts 5
and
6
: Being an Adult the Dummies Way and Preparing for the Big Things.
Now it’s time to protect your money and handle those bigger life expenses, from paying monthly bills to buying your dream car. We’ll also help you set long-term goals like investing and getting insurance.
Part 7: The Part of Tens.
Looking for a quick reference or top tips on taxes, creating a win file (a brag-worthy record of your achievements), or other key concepts? This section’s got you covered.
It might sound like a lot, but fear not! We’ll tackle each subject in a fun, accessible way, giving you the confidence to take charge of your finances regardless of your age.
With a sense of what’s coming, it’s time to roll up your sleeves and dig into the details. Flip ahead to the chapters that pique your interest the most, or read each part in order for a complete guide to becoming a personal finance pro. Keep in mind, your money journey is yours to shape, and every bit of knowledge you pick up along the way will help you write your own success story.
Are you ready to claim your financial freedom? Let’s do this!
Chapter 3
The Money Warm-up
IN THIS CHAPTER
Deciding on a trusted adult
