Rich Student, Poor Student: Money Guide for Teens

Hey there, awesome teens! If you're between 13 and 19, juggling school, tuition classes, exams, and dreaming about that new phone, cool sneakers, or even your first bike, this book is like a secret superpower just for you. Rich Student, Poor Student: Your Guide to Growing Wealth While Studying by Dr. Peter James Middlebrook (published December 19, 2025) is a fun, easy read that shows you how to start building money habits right now – even with just your pocket money or small birthday cash. Dr. Peter James Middlebrook is a super smart uncle-type person who helps big countries and organisations like the World Bank figure out money stuff.

He's worked in more than 100 countries, so he knows a lot about how people become rich or stay stuck. In this book (189 pages, perfect for quick reading between study breaks), he talks straight to kids like you – school and college students in Asia who face tons of pressure from exams, parents, and "log kya kahenge."

The book's big idea is super simple and exciting: "The difference between a rich student and a poor student is not intelligence or luck, but habits formed early and consistently practised" (Middlebrook, 2025, p. 14). Dr. Middlebrook says you don't need to be a genius or win a lottery to have money later. You just need good habits starting today – when you're young and have lots of time but little cash. This is perfect for Asian kids like us who study hard but sometimes feel money is always short.

Why should you read this? Because money smarts aren't taught in school (sad, right?), but they're more important than many subjects. This book is like a friendly big brother teaching you tricks to turn small savings into big dreams – maybe your own laptop, college fees, or even helping family one day. It's a wake-up call that waiting for a "big job" is old thinking. Start now and watch money grow like magic (it's called compounding – you'll love it!).

Dr. Middlebrook writes like he's chatting with you over Maggi or chai. The book has easy chapters that feel like short stories with real tips. He uses examples of students just like you – some from Asia – who started small and became money-smart.

First, he talks about mindset – how you think about money. "Poor students think money is spent; rich students think money is grown" (p. 21). Many of us get pocket money and spend it on chips, games, or movies. But rich-thinking kids save some and make it grow. Dr. Middlebrook shares the famous marshmallow test where kids who waited for two marshmallows instead of eating one right away became more successful later. "The marshmallow test isn't about delayed gratification; it's about trusting your future self enough to invest in it" (p. 35). For you, it means skipping one cold drink today to have money for something bigger tomorrow.

He gives a fun challenge: "Start with a 'no-spend' week to reset impulses" (p. 42). Try it – no canteen snacks or online shopping for seven days. You'll see how much you save!

Next comes budgeting – tracking where money goes. "Track every expense for a month; you'll be shocked where money leaks" (p. 49). Use a notebook or free phone app. He teaches the 50/30/20 rule for students: 50% for needs (bus fare, books), 30% for wants (movies, eat-outs), 20% savings (even if ₹50). "Fifty percent needs, thirty wants, twenty savings – even if savings is just fifty rupees" (p. 56). Real story: one girl stopped daily ₹20 juice and saved for a new phone in months. "One less coffee a day funds a mutual fund sip by month's end" (p. 63). (SIP means small regular investments – super easy!)

About debt (borrowing money): "Good debt builds future income; bad debt buys yesterday's pleasures" (p. 77). Education loan for good college? Good debt. Borrowing for fancy clothes? Bad. Credit cards are dangerous traps. "Plastic promises freedom but delivers chains" (p. 91). Tip: "Pay minimum plus principal chunk monthly; avalanche or snowball, choose what motivates" (p. 98). Pay extra on loans to finish faster.

Earning money while studying is exciting! "A rich student turns time into income streams" (p. 105). Ideas for teens: tuition to younger kids, YouTube videos of your notes, selling old books, or online surveys. "Your notes from class can become paid content on YouTube" (p. 112). Stories of kids: "One boy's coding gigs funded his master's; another's resale thrift flipped to full business" (p. 119). Start small: "Campus jobs, online surveys, skill-based gigs on Fiverr" (p. 126). Imagine earning ₹500 extra monthly for games or savings!

Investing is the magic part. "The stock market isn't gambling if you play long" (p. 133). Start with mutual funds (safe pools of money). Famous investor Warren Buffett loves them. "Warren Buffett bets on indexes; students can too" (p. 140). Compounding is like a snowball growing bigger. "Invest a hundred rupees monthly from age twenty; by fifty, it's lakhs without extra effort" (p. 147). For 13-year-olds: start with ₹50! "Diversify like a thali, not all-in on one curry" (p. 154). Spread money so it's safe.

Link school to money: "Degrees open doors, but skills build houses" (p. 161). Make friends – "Your classmates today are your colleagues or investors tomorrow" (p. 168). Final words: "Wealth is not what you earn; it's what you keep and grow" (p. 175). "Rich students study to learn; poor ones study to pass" (p. 182).

Extra tips: "Every rupee saved today is a vote for your future self" (p. 28). "Start small: campus jobs, online surveys" (p. 126). "Borrow for skills that pay back" (p. 84).

This book is awesome for teens because it's like a friend explaining money without boring lectures. Dr. Middlebrook uses simple stories and real kids (some Asian!) to show how small changes make big differences. Strengths: easy language, fun challenges like no-spend week, and magic of compounding explained with Indian rupees examples. "One less coffee a day funds a mutual fund sip" (p. 63) feels real when you think about skipping Maggi sometimes.

He shows saving isn't punishment – it's power. "Every rupee saved today is a vote for your future self" (p. 28). Research from studies makes it trustworthy, but kept simple.

Weaknesses? It's great for middle-class kids with phones/apps, but what about rural teens with less internet? Or kids whose parents can't give pocket money? The book mentions global youth but could have more stories from villages or low-income families. Gender stuff – girls often get less pocket money or more home duties – could have more tips.

Optimism is high (you can be rich student!), but reality for some is harder with family needs. Still, the encouragement wins – it makes you believe you can start small.

Overall, super useful for Asian teens facing exam pressure but dreaming big. Better than many adult money books!

Why Asian Youth Readers Must Read This Book

Hey fellow Asian teens! Whether you're in India cramming for boards, Singapore stressing PSLE, Korea doing hagwon till late, or anywhere in Asia with big exam pressure, this book is made for you.

In Asia, we study crazy hard – tuition, coaching, "be doctor/engineer" from parents. But money talk? Rare. We get pocket money but spend on bubble tea, K-pop merch, or games. This book changes that.

Dr. Middlebrook shows "Poor students think money is spent; rich students think money is grown" (p. 21). Many of us are "poor students" without knowing – spending all allowance fast. But you can become "rich student" now!

School pressure is huge – JEE, NEET, Gaokao, A-levels. Parents say "study hard, good job, money comes." But book says start money habits in school. "Every rupee saved today is a vote for your future self" (p. 28). Save ₹100 monthly from canteen money – by college, it's thousands!

Side jobs for teens: teach younger kids maths (common in Asia!), make TikToks/Reels of study tips, sell old textbooks. "Your notes from class can become paid content on YouTube" (p. 112). Many Asian kids already do this!

Family expectations – "don't waste time on money, focus studies." But book shows money smarts help studies – less worry, better focus. "Degrees open doors, but skills build houses" (p. 161).

For girls facing "save for dowry" or less freedom – book empowers: "Good debt builds future income" (p. 77). Learn money, be independent.

Asian parents love education – show them compounding: "Invest a hundred rupees monthly from age twenty; by fifty, it's lakhs" (p. 147). They'll be proud! In countries with high youth unemployment, early habits give edge. No waiting for "big job." This book is your secret weapon – read it, try one tip (like tracking expenses), watch magic happen.

Rich Student, Poor Student is like a best friend teaching money secrets. Dr. Middlebrook makes it fun and possible for teens. Start small today – save, earn, grow. Your future self will thank you big time!