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I guess reiteration and assurance will help me stay on track. This book would have beed great for me if i was actually at a complete lost with my finances, but I was already on track doing everything that Suze Orman recommends for YBF'ers.
First, while the initial chapter explains credit scores, how to build a good credit history and the affects of credit scores on interest rates, in later chapters she actually recommends that young, fabulous, and broke young adults actually USE their credit cards to help finance their current situations. In all, Suze Orman's The Money Book for the Young Fabulous & Broke has great advice for not only young and inexperienced audiences, but it is also an excellent way to revisit sound money management skills for the more experienced adult set. Although she reiterates that the use of cards should be limited to necessities (emergency car repairs, school costs, etc). Orman's ability to effectively reach an audience is quite evident in this book, and it is a recommended read for anyone who desires to learn better ways to manage their financial future. Orman's past record indicates that she is highly qualified to give financial advice, and her "Money Book" for the "new" generation seems to hit the mark. Bestselling Author Suze Orman's The Money Book for the Young Fabulous & Broke is intended for use by financial "newbie's" (young, recent college graduates and those adults in their 20s and 30s), and it provides a basic yet comprehensive and realistic overview of money management for those members of generation "broke." Using a dynamic color scheme, direct writing tone, and in the format of a step-by-step operating manual for money management, Orman's book addresses everything from credit scores, to student loans, to first house purchases and more, with an emphasis on common problems, missteps, and actions that should be taken to help pave the way for a safe, secure, monetary future. A delightful, motivational, and relatively easy read, it is a highly recommended addition to any person's financial library, with particular benefit for one just starting out in their career and adult life.Suze Orman is well established in the financial world, and her past bestsellers have addressed everything from money management for women to money guides for all people to follow on the paths to financial freedom. By providing examples of her own experience as a waitress earning less than $5,000 annually, and by basing the advice in the book on actual inquiries and subject areas that youth have inquired of her, Orman allows the reader to feel comfortable and competent rather than chastised for poor money behaviors.
Orman's book is a great, "basic" money book for financial amateurs, but it does have some areas that may raise caution flags in the minds of financial advisors and counselors. The easy, accessible tone as well as the straightforward design of the book makes it a great way for anyone to learn how to manage their own money. While the advice on investing, home purchasing, and funding retirement is comprehensive and outstanding, it may overwhelm and confuse a money "newbie," and without the advice of a financial professional, a poor decision or one made with lack of follow through on the investor's behalf may occur. As long as these limitations are kept in mind when reading, the book does provide a great springboard for future action and further research in all financial areas. The advice she gives is easy to follow, from how to understand FICO scores, to navigating 401K plans, buying a first home, and making first time investments, and she provides adequate examples as well as common mistakes that can be avoided. Also, Orman sees budgets as "bad diets" and feels that they are not useful; a more open mind to the benefits of structure may be a better approach when teaching good money management to young people who may need limitations to live within their means. She contributes to various magazines, has a national TV program on finances, and she has won awards for her work in the financial planning arena.
and to keep the use below 1% of annual income, her recommendation can be contrived as a "GO" for adults to use credit cards at the risk that they may not be able to responsibly control the use, thus leading to financial difficulties even greater than their current situations. An additional feature of the book is a well detailed glossary that not only defines common money terms for the reader, but it also provides a brief synopsis of the "Y, F, & B advice" that is depicted in detail back in the chapter. The basic, overall theme of Orman's book focuses on an understanding of the true situation of recent college graduates and those entering the workplace; to put it simply, they're broke. Each section of the book can be read as a stand-along unit (useful for those limited on time), and "strategy lessons" based on common issues and questions regarding money management are a part of each chapter, with a breakdown by question and location at the beginning of each chapter for easy management.
You don't have to read this one from start to finish, although I would recomend reading the whole book, but you can choose the order.Suze targets women, but there is a lot of great information in this book that would benifit anyone and everyone, not to mention it is an easy read. Suze has a great way of explaining financial topics and giving tips for money management. The thing I like best about this book is that you can skip around to the topics that interest you.
I would recoommend this book to anyone who is young, fabulous & broke. This book is a quick and easy read+ you can just skip to the section that is relevant to your situation. this is a really good book. LOL. HIGHLY RECOMMENED. It provides a lot of indepth knowledge you need in your 20's. suze is awesome and her insight on everthing from getting your credit together to getting your career together is very helpful.
This book is a great help for everyone who is just graduating from college and starting independent life. If you feel like you still have some unanswered questions, which of course you will, you can go on the website for the readers where Suze answers selected questions. Each chapter provides a summary with a checklist that makes sure that the readers did not miss anything important.
Since this book covers basics about the financial planning, investments, debt, and savings you might find it repetitive if you have read other Suze's books. Orman explains how the credit ratings work, how to work students' loans, how to maintain you banking accounts, how to manage you debt, how to maximize your career opportunities, how to buy a house, and how to retire. This is a good book to read if you have not read other Suze Orman's books.
Like all Orman's books, this book is very easy to read. It would be a great gift for getting on their feet kids. However if you have no idea about IRA accounts, 401(K) plans, FICO score, etc.
this book will be a good start in educating yourself.
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