Teen Girl's Gotta-Have-It Guide to Money: Getting Smart About Making It, Saving It, and Spending It! Book

This book is a basic introduction to the world of money for teens; how to get it, save it and spend it.

Before you can spend money on clothes or an MP3 player, you need some money coming in, so a job is a requirement. Apply at a favorite store at the mall, or the local supermarket, or advertise in your neighborhood as a dog walker. This is the time to put on your thinking cap and get creative. If you are underage, get the approval of your parents first.

Now that you have a steady income, what do you do with it? The authors suggest creating four "pots." Put 30 percent toward everyday expenses, another 30 percent toward short-term savings (like a new pair of boots) and the other 30 percent toward long-term savings (it's never too early to start saving for college or a car). Consider giving the last 10 percent to charity.

How do you get the most out of each dollar spent? Don't be afraid to shop at second-hand or thrift stores. Many times generic cosmetics have the exact same ingredients as the brand-name cosmetics; you are paying for the marketing and fancy packaging. Do your own nails. Read the details of your cellphone plan and know exactly what you are paying for. Bottle your own water instead of paying for it, and think about hosting a DVD night with your friends instead of going to the movies.

Savings accounts are an easy, and safe, way of making your money grow. For those who are more daring, perhaps investing in the stock market is the way to go. The potential payoff is greater, but so is the risk of losing your money.

There are alternatives to "retail therapy," the pick-me-up that comes from spending money. Hold a clothing swap, exercise, discover the things that your library has for free or become a volunteer at an organization that does work that you care about.

The authors do a wonderful job at painlessly taking the reader through the world of money. There are colors and graphics throughout, so it is really easy to read. Boys should not be put off by the title, this book is equally recommended for you, too.