Financial Literacy for Millennials
A Practical Guide to Managing Your Financial Life for Teens, College Students, and Young Adults
by Andrew O. Smith
August 2016, 194pp, 6 1/8x9 1/4
1 volume, Praeger

Hardcover: 978-1-4408-3402-8
$41, £31, 36€, A56
eBook Available: 978-1-4408-3403-5
Please contact your preferred eBook vendor for pricing.

Financial education in the United States is woefully inadequate. This book can fix that.

A modern primer on consumer finance and personal money management intended for readers aged 15 to 30, this guide can also serve as a primary text for high school, college, or adult education courses on personal finance.

There is growing awareness that teaching consumers more about finance is an urgent national priority—and that their education should begin early. Combining practical advice with targeted information on virtually every aspect of personal finance and money management, this book is the ideal resource for young people who want to start off their financial lives properly.

The guide updates traditional personal finance topics, such as budgeting, credit, debt, savings, and investment, and goes beyond those fundamentals to furnish important life lessons on such concerns as career planning, starting a business, Internet fraud, and avoiding financial scams. It even provides useful background on the tax system, how to avoid bankruptcy, legal issues young adults often face, and the plethora of government benefits they can access. In fact, young readers will come away from this book with basic knowledge of every important area of personal finance.

Ideal for teens and young adults, the volume will prove useful to parents who want to educate their children about the wise use of money, preparing them to make independent financial decisions. In addition, this book can be used to meet the standards enacted in every state for developing a curriculum guide for teaching financial literacy to high school students. It can also serve as a primary or supplementary resource in personal finance or consumer economics courses for college students and adults.


  • Provides an understanding of the structure and institutions constituting the U.S. economic system
  • Shares knowledge about consumer finance and financial planning to enable young people to make better choices in their lives
  • Shows how to save and invest prudently and use debt wisely and effectively
  • Prepares millennials for the financial impact of life events so they will be empowered to take control of their financial futures
  • Includes a series of tips that summarize the important lessons from the book
Andrew O. Smith, MBA, JD, has been advising about money, investments, and financial planning since he was a student and helped form the Pennsylvania Investment Alliance, one of the first college investment clubs in the country. As a trustee, financial advisor, and licensed attorney, he has counseled trust funds, estates, investment partnerships, limited-liability corporations, insurance trusts, real estate partnerships, and individuals. Earlier in his career, Smith was a Series 3 licensed Commodity Trading Advisor and served as the chief financial officer for a registered investment fund. He began his career as a management consultant for Booz Allen Hamilton and is currently chief operating officer of the Yenkin-Majestic Paint Corporation, a specialty chemical manufacturer. He is the author of Sand in the Gears: How Public Policy Has Crippled American Manufacturing. Smith earned a finance degree from the Wharton School and an engineering degree from the School of Engineering and Applied Science, both at the University of Pennsylvania. He also holds an MBA from the Booth School of Business and a JD from the Law School, both at the University of Chicago. In 1988, he was awarded the Olin Prize as the outstanding graduate in law and economics.


"[T]he book is comprehensive in its coverage of every element of financial planning for a young person living in the United States. . . . [T]his book would be a strong textbook for a financial planning class in high school or college where a teacher could supplement the text with some guidance. Teachers will also be able to use Smith’s website ( with lesson plans and quizzes to save time and effort in trying to find these resources elsewhere."—BRASS Business Reference Sources [RUSA], April 24, 2018

“Thoughtful planning and financial discipline are essential building blocks of adulthood. And on a wider scale, a thriving free enterprise system requires that individual citizens practice virtue and personal responsibility. Financial Literacy for Millennials offers a helpful toolbox of principles, tips, and lessons that will help young adults build their own lives and play a part in building broader prosperity.”—Arthur Brooks, President, American Enterprise Institute

“Our young adults and college students will require many skills to succeed in today’s world, and chief among them will be understanding how to handle their money, no matter what career path they follow. Financial Literacy for Millennials provides a comprehensive, smart, and accessible knowledge base for today’s young people. Every student, before or after college, should read this book.”—E. Gordon Gee, President, West Virginia University

“Working with millennials on a daily basis, I know that Financial Literacy for Millennials is a must-read for this group of young people. Smith uses compelling anecdotes to enhance the wealth of information he shares about all facets of financial decision-making. From personal finance and how to navigate the work environment to investing and how to be a savvy consumer, this book gives readers a head start on the road to financial independence.”—Jennifer Ciccarelli, Head of School, Columbus School for Girls

“Financial planning is a lifelong exercise, and it needs to start at an early age. Many providers of financial advice have biases and conflicts of interest, so young people need to be prepared or risk making bad choices about their money. Entirely objective, modern, and full of useful information not always found elsewhere, Financial Literacy for Millennials will give today’s students and young adults the foundation they need for a lifetime of smart financial decisions.”—Kent Smetters, Professor of Business Economics and Public Policy, The Wharton School, The University of Pennsylvania, and Host of Your Money on Sirius XM Business Radio
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