Generation Next

Those who know us well know that we have been spending the past couple years doing everything we can to get rid of our consumer debt.  Consumer debt mostly caused by stupid mistakes and a lack of commitment and knowledge.  As we've traveled this path, I have become committed to making sure we give our children the necessary information at an early age to allow them to hopefully avoid the mistakes we have made.  Yes, the proper management of money is a very necessary life skill but one that is often not taught by parents because we seem to feel as if finances are something that should never be discussed.  Although finances are a difficult topic to discuss, failing to do so with your children is leaving them without a very necessary life skill.

I have been searching for a program to use with our teens to help put them on a firm financial footing before they leave the nest.  There are many different ideas out there but I was having trouble finding something that was both sensible and affordable.

Many years ago I ordered the book 7 Steps to Becoming Financially Free: A Catholic Guide to Managing Your Money.  Although we were not ready to commit to everything in the book at that time, I loved the common sense approach, lack of excuses, and ready made resources in the book.  When I saw that the author of that book had a similar program aimed at teens and young adults, I was immediately interested in reading it.

Generation Next: A Catholic Guide to Financial Freedom for Young Adults by Phil Lenahan is a wonderful resource for teaching your children about managing their finances.  The book is broken up into eleven chapters.  Each chapter focuses on a different aspect of financial planning.  Topics covered include managing debt, money and marriage, real estate, and financial generosity.  This workbook has examples of resumes, tax forms, pay checks, a credit report, and budgeting sheets. A glossary is included in to explain terms that the reader might not be familiar with yet.

Each chapter ends in discussion topics, many of which help the reader understand how financial management relates back to their faith.  Every chapter also has an activity which is included in the teacher resource guide.  While this guide is inexpensive and will add to the program, you can easily use the workbook without it simply by skipping over the activity sections.

I found this book to be a wonderful resource that covered topics even I learned from.  My only issue with the book is the age guidelines.  I believe waiting until someone is 17 to start sharing such information is waiting far too long.  I believe this book can and should be used earlier.  This book is written in a very down to earth, easy to read style that lends itself to being attractive to younger readers.  I would take advantage of this fact and put the book in the hands of folks just starting high school.

This review was written as part of the Catholic book reviewer program from The Catholic Company. Visit The Catholic Company to find more information on Generation Next - Workbook. This is also a great online Catholic store for all your religious shopping needs, such as gifts for Confirmation and gifts for a baby baptism.