My brother will turn 18 next month & I want to give him a personal finance gift basket.?

Question

What kinds of things should I get him? He is now looking for his first job and I want to be able to help him become financially literate and independent as possible?

Any suggestions?

Answer 1

I would recommend something on budgeting and basic finance.

Dave Ramsey solid guy on personal finance.  You can listen to him first then decide if he is full of c**p or not.  I've listened to him for a while and he is very sound in his knowledge and advice.  No I don't work for him, I just listen to his show.

http://www.daveramsey.com/shop/

Answer 2

Get an organizer that has a money tracker, pen, calculator, check book holder, and credit card holder. Go to a bookstore and get a finance book or magazines targeted to teens. First ask if he wants a subscription if possible get a trial or free subscription. There are all types of online personal finance magazines for teens and young adults. Help him find out how his hobbies can create supplemental income....Sit with him and have him write his career and financial goals..and teach him how to spend wisely and save money... Again search online for those teen money magazines..let him read about his peers and what they are doing to be financially independant.

Answer 3

"Personal Finance For Dummies" and "Investing For Dummies" are great books.

Answer 4

I would get him a portfolio that he can take to his interviews that showcase all of this best work.

Answer 5

Something from Dave Ramsey or Suze Orman....

Answer 6

This is a tough one since there are so many good financial books out there.

I would stick with one or two general authors that give basic financial advice like Suze Orman.  I would also recommend getting your brother a subscription to Money magazine or something similar.

Answer 7

These three books cover it all, budgeting, staying out of debt, saving for retirement, avoiding unnecessary taxes.  What more could he need?

The Total Money Makeover by Dave Ramsey

How to Retire in Comfort and Safety by Ray Lucia

Your Retirement Planning Roadmap by Ed Slott

The first because it will show him how to stay out of debt.  The second because it will show him how to invest for safety as well as return.

The third because it will show him how to avoid taxes now as well as later.