Bound To Stay Bound

Bulletin for the Center... - 03/01/2012 This looks like a book about personal money management for kids, or possibly an overview of how American (U.S. and Canadian) monetary systems operate. Instead, Vermond delivers an unfocused mashup of personal and international finance that is likely to leave kids with little other than platitudes about saving their money, going to college, and distinguishing the International Monetary Fund from the World Bank. Chapters are randomly topical, with information failing to build upon established concepts and such basic terms as “bankruptcy” languishing without definition, either in the text or glossary. Glaring contradictions pop up: advice against upscale labels at an upscale price because they mask clothing identical to that at lower prices is upended by a discussion of how “cheap clothes [are] not cheap.” Generalizations and simplifications can be downright insulting, such as the assertion that two-income families have more disposable income (tell that to minimum-wage workers who can’t make ends meet on two salaries). Other issues are suspiciously out of date, such as a student loan for college presented unquestioningly as a form of “good debt” or an example of annual return rates on investments at 10 to 12%. The strongest sections in this presentation are more concerned with philosophy and ethics than cash, as Vermond makes some useful points about the way we attempt to place value on different types of jobs, how culture figures into definitions of poverty, and even how to weigh the upside and downside of used-clothing donations. Libraries with broad collections on money and finance may want to include this title, but kids looking for sound, clear advice on how to grow pennies into dollars should probably invest their book-buying money elsewhere. EB - Copyright 2012 The Board of Trustees of the University of Illinois.

School Library Journal - 04/01/2012 Gr 6–10—Vermond gives practical advice, but, more importantly, explores the emotional and social role of money in teens' lives, both culturally and personally. She incorporates the basics on earning, saving, and investing. She explains why people work, with entertaining lab-rat anecdotes, and explains how the reasons impact earnings and the machinations of society. Vermond tells readers that there are infinite ways to earn money, with a whole chapter devoted to early onset (middle school onwards) entrepreneurial endeavors, the bottom line being that readers should earn through a job that inspires them, or for which they have a particular talent. This book is framed around the psychology of earning without being pedantic; in fact, it is full of cartoon concept-expansion sidebars. The author has an engaging, snappy tone and lays out sophisticated financial concepts in an accessible fashion. Speaking of fashion, she uses ample clothes-buying examples to hook tween and teen readers. She shares socially conscious consumer tips, advocates saving, and discusses poverty and "the poor" and why we should care about them. She goes global, skimming the surface of poverty, charities, microloans, and the World Bank and IMF, promoting the positive psychology of altruism. Based on the psychology of earning and spending, the book presents such fascinating concepts as neuromarketing, market bubbles, brand recognition, and behavioral economists. This is a perceptive and timely publication on financial literacy for a new generation.—Meredith Toumayan, Langley-Adams Library, Groveland, MA - Copyright 2012 Publishers Weekly, Library Journal and/or School Library Journal used with permission.

Booklist - 05/01/2012 Operating under the mindset that “financial literacy (that’s fancy for ‘money education’) is something everyone should have access to a lot earlier in life,” this primer sets out to inform kids about the serious financial decisions they’ll undertake (or might even already be undertaking) in their lives. Vermond clearly finds the topic fascinating, and her informal and approachable text, which doesn’t sacrifice solid information in the name of chattiness, may help win over readers who might otherwise shudder at the mention of compound interest, subprime lending, or credit rating. She provides evenhanded discussions of income inequality, marks the distinction between consumerism and consumption, and talks about how debt can be both a good and bad thing. A report on the global economy, ideas for kick-starting savings accounts, and a chapter on raising money for charity round out this helpful offering. Hanmer’s cartoon illustrations add an extra dollop of humor. - Copyright 2012 Booklist.

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