The Money Book for the Young, Fabulous & Broke [Hardcover]

Suze Orman (Author)

Book Description

Publication Date: March 3, 2005

Be sure to catch Suze Orman's latest PBS special based on The Money Book for the Young, Fabulous & Broke, which will air the weekend of March 4th on stations across the country. Check your local listings for airtimes.

The Money Book for the Young, Fabulous & Broke is financial expert Suze Orman's answer to a generation's cry for help. They're called "Generation Debt" and "Generation Broke" by the media — people in their twenties and thirties who graduate college with a mountain of student loan debt and are stuck with one of the weakest job markets in recent history. The goals of their parents' generation — buy a house, support a family, send kids to college, retire in style — seem absurdly, depressingly out of reach. They live off their credit cards, may or may not have health insurance, and come up so far short at the end of the month that the idea of saving money is a joke. This generation has it tough, without a doubt, but they're also painfully aware of the urgent need to take matters into their own hands.

The Money Book was written to address the specific financial reality that faces young people today and offers a set of real, not impossible solutions to the problems at hand and the problems ahead. Concisely, pragmatically, and without a whiff of condescension, Suze Orman tells her young, fabulous & broke readers precisely what actions to take and why. Throughout these pages, there are icons that direct readers to a special YF&B domain on Suze's website that offers more specialized information, forms, and interactive tools that further customize the information in the book. Her advice at times bucks conventional wisdom (did she just say use your credit card?) and may even seem counter-intuitive (pay into a retirement fund even though your credit card debt is killing you?), but it's her honesty, understanding, and uncanny ability to anticipate the needs of her readers that has made her the most trusted financial expert of her day.

Over the course of ten chapters that can be consulted methodically, step-by-step or on a strictly need-to-know basis, Suze takes the reader past broke to a secure place where they'll never have to worry about revisiting broke again. And she begins the journey with a bit of overwhelmingly good news (yes, there really is good news): Young people have the greatest asset of all on their side — time.

Editorial Reviews

Amazon.com Review

If you are tired of struggling to make ends meet but don't know a 401(k) from Special K, this book is for you. Aimed specifically at "Generation Broke"--those in their twenties and thirties who are working yet buried in credit card debt and student loans--this user-friendly guide offers a clear introduction to practical investing and money management techniques that can turn even a dismal financial situation around. Bestselling author Suze Orman has a knack for taking the fear out of money matters, and in The Money Book for the Young, Fabulous &: Broke, she shows readers how to set priorities and achieve goals, whether it is to buy a house or save for retirement or pay for a child's education. She also offers inspiration to readers to face their financial problems and get started on a solution. After all, there is good news: young people still have the time to correct problems so that they will never be broke again. Readers who find terms such as diversification and IRA rollover scary--or worse, unimportant--will learn much from this book.

In these pages, Orman clearly and succinctly explains what a FICO score is and why it's so important, offers the lowdown on stocks and mutual funds, provides career advice, and offers lots of tips on dealing with student loan debt, saving money even when times are tight, debt consolidation strategies, and the safest way for newlyweds to merge their finances. She also offers information on credit cards, including why canceling cards is not a good idea, when it makes sense to use them, and the best strategies for paying them off. It may not be the only money book you'll ever need, but it's an excellent place to start. --Shawn Carkonen

All About Suze Orman

The Money Book for the Young, Fabulous & Broke is financial expert Suze Orman's answer to a generation's cry for help. An Emmy-award winner, Orman is the author of four consecutive New York Times® bestsellers, The 9 Steps to Financial Freedom, The Courage to Be Rich, The Road to Wealth, and The Laws of Money, the Lessons of Life. The Money Book was written to address the specific financial reality that young people face today, and it offers a set of real, not impossible, solutions to the problems at hand and the problems ahead.

• Listen to a special message from Suze Orman.
• Visit the Suze Orman Store

Suze Orman: The Bestsellers

The Courage to Be Rich The Road to Wealth The Laws of Money, the Lessons of Life

Suze Orman's Financial Guidebook The 9 Steps to Financial Freedom

Money Cards: Words That Lead to Wealth You've Earned it, Don't Lose It The Money Book for the Young, Fabulous & Broke, Audio CD

Build Your Own Suze Orman Library
The Essentials

The Laws of Money	The 9 Steps to Financial Freedom	You've Earned It, Don't Lose It
Money Cards: Words That Lead to Wealth	Suze Orman's Financial Guidebook	Suze Orman's Will And Trust Kit

Pep Talks: Suze Orman Audios

The Courage to Be Rich, CD	The Road to Wealth, CD	The Laws of Money, the Lessons of Life, CD
The Courage to Be Rich, Cassette	The Road to Wealth, Cassette	The Laws of Money, the Lessons of Life, Cassette

Bestselling Suze Orman Books on DVD

The Laws of Money, the Lessons of Life, 2003	The 9 Steps to Financial Freedom, 2004	The Road to Wealth, 2004
The Suze Orman Collection, 2003	The Courage to Be Rich	The Best of the Suze Orman Collection, 2004

From Publishers Weekly

No narrator, no matter how skilled, could sell the advice of personal finance guru Orman as well as Orman herself, so it's fitting that she gives voice to this audiobook. In a tone that is commanding (but in a motherly way), Orman lays out money management basics for YF&Bers (the young, fabulous and broke), covering everything from maintaining good credit and investing in the future to building a career and buying a first house. This is the lecture every parent should give their adolescent, and with Orman's emphatic delivery, it certainly has a lecture-like feel. There's no danger of nodding off during this audiobook, however. Orman's just-the-facts approach and spirited reading make this a quick, informative listen—a perfect motivator for anyone who has thought about organizing their finances and then opted for the beach instead. Simultaneous release with the Riverhead hardcover (Forecasts, Feb. 14). (Mar.)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. --This text refers to the Audio CD edition.

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Product Details

• Reading level: Ages 18 and up
  
• Hardcover: 400 pages
• Publisher: Riverhead Hardcover; First Edition edition (March 3, 2005)
• Language: English
• ISBN-10: 1594489130
• ISBN-13: 978-1573222976
• ASIN: 1573222976
• Product Dimensions: 8.1 x 6.3 x 1.2 inches
• Shipping Weight: 15.2 ounces (View shipping rates and policies)
• Average Customer Review: 4.6 out of 5 stars  See all reviews (305 customer reviews)
• Amazon Best Sellers Rank: #33,453 in Books (See Top 100 in Books)

More About the Author

Suze Orman has been called "a force in the world of personal finance" and a "one-woman financial advice powerhouse" by USA Today. A two-time Emmy Award-winning television host, #1 New York Times bestselling author, magazine and online columnist, writer/producer, and one of the top motivational speakers in the world today, Orman is undeniably America's most recognized expert on personal finance.

Orman has written seven consecutive New York Times bestsellers and has written, co-produced, and hosted six PBS specials based on her books. She is the host of the award-winning Suze Orman Show, which airs on CNBC and XM and Sirius radio, and a contributing editor to O: The Oprah Magazine.

Orman was twice named one of the "Time 100," Time magazine's list of the world's most influential people, and was the recipient of the National Equality Award from the Human Rights Campaign. In 2009 she received an honorary doctor of humane letters degree from the University of Illinois at Urbana-Champaign.

Orman, a Certified Financial Planner™ professional, directed the Suze Orman Financial Group from 1987 to 1997, served as Vice President--Investments for Prudential Bache Securities from 1983 to 1987, and was an account executive at Merrill Lynch from 1980 to 1983. Prior to that, she worked as a waitress at the Buttercup Bakery in Berkeley, California, from 1973 to 1980.

Customer Reviews

Most Helpful Customer Reviews

250 of 255 people found the following review helpful:

5.0 out of 5 stars Why isn't this required reading in high school?, March 13, 2005

By 

K. Corn "reviewer" (midwest, United States) - See all my reviews
(VINE VOICE)    (TOP 100 REVIEWER)   

This review is from: The Money Book for the Young, Fabulous & Broke (Hardcover)

How many people graduate from high school and even college within knowing the basics of financial literacy - deciphering credit ratings, maintaining and balancing a bank account, getting through college with a minimum of student debt, making the most of that first job and, eventually, buying a home and planning for retirement?
Orman strives to close this "financial illiteracy" gap by providing invaluable info for those just starting out - although I found plenty of information I needed to know as well - and I'm well outside the "young and broke" range she seems to be targeting.
The info is not only cutting edge but many of the websites have NOT appeared in other books. One example of how new the info is: Orman notes the recent changes in credit rules noting that EVERYONE has access to a FREE credit report once a year.
Because she knows younger adults may be intimidated by a ton of financial info, Orman (wisely) delivers her advice in innovative, user-friendly ways. Each page is short, easy to read and yet chock full of info. In short, she doesn't waste words.
Each section is launched with a Lowdown on what will be covered in the chapter and there is a quick summary at the end with checklists to make sure readers know what they shouldn't have missed. A Glossary at the back of the book explains some of the more complex terms. Important website resources and key terms are boldfaced in green, a great asset when looking for important info.
Reading this book could help young people avoid many pitfalls, since Orman covers the basics such as:
* Understanding that all important credit rating and deciphering your FICO score

*Making a small paycheck stretch as far as possible while maximizing opportunites for career advancement.

* A special area on her website where buyers of the book can get UPDATES on info in the book and CONNECT with others on message boards, a great way to get info and share viewpoints (and Suze stops in regularly to answer a few select questions, giving readers an opportunity to have her answer YOUR questions)

* Current websites to get information quickly and fill in gaps. She even notes that readers can now get their FICO score FREE once a year, valuable information that is on the cutting edge of new legislation. This info alone could well be worth the price of the book.

* The rignt and wrong way to handle student debt

* How to start investing and the best funds for ROth IRAs and 401(k) accoutns.

* Buying a car, auto insurance and a home.

I consider this MUST reading for anyoone just starting an independent life and this will definitely be at the top of my gift list for any high school or college graduate. What better gift than to give someone the tools for an independent and financially secure future?

109 of 114 people found the following review helpful:

5.0 out of 5 stars GOOD EVEN FOR US FORTY-SOMETHINGS, March 10, 2005

By 

Tim Janson (Michigan) - See all my reviews
(HALL OF FAME REVIEWER)    (TOP 500 REVIEWER)    (VINE VOICE)   

This review is from: The Money Book for the Young, Fabulous & Broke (Hardcover)

I haven't watched Suze on TV for that long but she always seems to make sense and what's more, common sense when it comes to making financial decisions. I guess I am a bit outside of the age range that this is intended for being in my early 40's but I still found a lot of very valuable information inside. Granted the book is squarely aimed at younger people who have just gotten out out college and are maybe a few years or more into their careers and faced with the bills of student loans. The information though is of great value to me as my first child is only 5 years away from going to college and the information about financial assistance was invaluable.

Thus while the information inside my not help me directly, I think it sets up a wonderful plan that we can use to its fullest extent when my son starts college as well as the years after. This is always a very hard time, especially when "kids" get their first lines of credit and often make the same extent of forgetting that at some point the bills have to be paid. I had some $15,000 in credit card debts, small compared to many I know, when I was in my early 30's and now have less than $2,000 which is very manageable. If i had had this book 15 years ago I might not have found myself in such a rough position. And certainly had I had the book I would have taken the advice about retirement plans much earlier than I did. As Suze puts forth, getting that 401K setup as early as you can will make life much easier down the road. Great Book!

64 of 67 people found the following review helpful:

3.0 out of 5 stars If you own other Suze books or watch her show, I would pass on it..., December 22, 2005

By 

J. Newton (Brooklyn, NY) - See all my reviews
(REAL NAME)   

This review is from: The Money Book for the Young, Fabulous & Broke (Hardcover)

Personal disclosure: I love Suze Orman. I am not sure why I do, but I do. It's just organic. I watch her show, and I own several of her books.

That is why, with great expectations, I bought an advance copy of her book YF&B. Now, I am not saying it's bad or anything. It's just, well, OK. If you own her other books, she doesn't really say anything that new here.

Plus, she's pandering to a "young" demographic. I'm 29yo, and it's clear she knows nothing about my life. She should just be giving advice without relying on this gimmick-y format that basically just repeats what she writes in her other books and says on her show. Her "new" advice for the YF&B generation is that it's OK to have credit card debt for new "good" debt. Ummm, duh? Having credit card debt is practically a necessity, and I didn't need Suze to tell me that.

Also, her on-line system is really poorly done. It's clunky, and the so-called personalised advice that it gives is repetitive of the stuff she writes in her book and says on TV.

Even so, if you don't own other Suze books and want a leg-up on finances, I would recommend it.

If you own other Suze books and/or watch her show regularly, I would take the money that you were going to spend on this book and give it to MasterCard.