2. Advice And Guidance
"On My Own Two Feet: A Modern Girl's Guide to Personal Finance," by personal finance experts Manisha Thakor and Sharon Kedar, tackles money basics like credit card debt and retirement planning. The lessons shared in the book are even more powerful when paired with frank, personal advice, Thakor says.

"Take the young person out to a restaurant of their choosing and share with them your best and worst financial decisions," advises Thakor, who is director of wealth strategies for women at The BAM Alliance. "Answer their questions about money."

Another book recommended by personal finance experts was written 90 years ago, but is still relevant today.

Daniel L. Grote, a certified financial planner in Denver, received "The Richest Man in Babylon" by George S. Clason from his Uncle Jim—"My mentor and the most financially successful person I know," notes Grote.

"It is an excellent, quick read" for anyone who wants to know how acquire solid personal finance skills, says Grote, who has since given the book as a gift many times.

Booking a session with a financial planner or advisor is another smart move. "When the advice comes from someone other than a parent, it tends to sink in more," says consumer credit expert and author Beverly Blair Harzog.

Ask the planner to provide basic money advice, such as budgeting, avoiding debt and the importance of a healthy credit
score.