282 of 287 people found the following review helpful
Why isn't this required reading in high school?,
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?
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Showing 1-4 of 4 posts in this discussion
Initial post: May 28, 2011 11:14:39 AM PDT
I'm in my mid-20's, and I completely agree with your review. The chapter on where to invest savings (Roth IRA vs. 401(k), etc.), was especially useful.
Posted on Apr 17, 2013 11:01:41 AM PDT
2 cents worth says:
In reply to an earlier post on Apr 17, 2013 5:06:04 PM PDT
[Deleted by the author on Apr 17, 2013 9:51:41 PM PDT]
In reply to an earlier post on Apr 17, 2013 7:52:10 PM PDT
2 cents worth says:
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