The Money Book for the Young, Fabulous & Broke

by Suze Orman

Book Overview

The New York Times bestselling financial guide aimed squarely at "Generation Debt"--and their parents--from the country's most trusted and dynamic source on money matters. The Money Book for the... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 1573222976
• ISBN13: 9781573222976
• Release Date: March 2005
• Publisher: Riverhead Books
• Length: 395 Pages
• Weight: 1.38 lbs.
• Dimensions: 1.1" x 6.3" x 8.1"
• Age Range: 18 years and up
• Grade Range: Postsecondary and higher

Customer Reviews

Why isn't this required reading in high school?

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?

GOOD EVEN FOR US FORTY-SOMETHINGS

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!

I may not exactly be YF & B...

I'm thirty-something. I have a wife and two children. I've been extremely fortunate in my life to have side-stepped many of the financial potholes that Suze mentions in this book. So...Young? I'm probably topping out the range. Fabulous? In my children's eyes, yes. Broke? In a sense, but I'm doing all right. Now, even though I may not be truly YF & B, this book has really opened my eyes. With two young children, I think more and more about obtaining a secure financial future for my family. To be honest, I've always been a little confused as to what I should really be doing to achieve that goal. Suze has made it so very clear in her book. She has confirmed in my mind that some of the things I am doing are right. In other areas (like "Big Ticket Purchases", investing and insurance) I see opportunity and room for improvement. I've already taken action. Out of all this, I finally feel confident that I'm doing the right thing for my family and myself. Thank you, Suze.

I wish it were common sense

I purchased this book because I work for a student loan and financial literacy nonprofit organization. Having reviewed the student loan chapter of the book in its early stages, I was interested in the final product. Not being so young or so broke (of course, I'm not satisfied with my money, but am better off than many), I still enjoyed and respected this book. It is written appropriately for this audience and addresses a number of hot topics. Before considering this review, I read several others. Many indicated that Suze's advice is just "common sense". If only this were true. Unfortunately, studies show that the average student graduates from high school lacking basic financial literacy skills. To them, "balancing a checkbook" means using a calculator to ensure your adding and subtracking is correct. Even worse, a small percentage of the population thinks that checks in their checkbook mean they have money to spend! Knowing this, I highly recommend Suzie's book! In addition to her clear writing and good examples, you have access to even more information on her web site, including excellent and FREE resources. Here's to good reading and financial savvy!

The LAST of my Available Credit-Chinese Food or Orman's Book

Faced with a true financial conundrum, with a mere $30.00 in available credit on my Student Platinum Visa, I chose to purchase Suze Orman's book and settle for a doctored up frozen pizza instead. I made an incredible choice and found myself engulfed in reading a book that seemed to answer ALL of my questions and concerns about my finances wtih REAL SOLUTIONS! I can remember how intimidated I was at completing my first Federal Student Loan Applications and Pell Grant Requests. I was terrified at the consequences of answering one of those "trick questions" improperly and ending up with little or no financial assistance. Little did I know how easy it was to get loans and to later learn that I could use a portion of the funds for material things that likely were not necessary for the completion of my degree. This is a common mistake that Ms. Orman describes in her book. Again, she turns our anxiety into UNDERSTANDING and helps us to TAKE BACK CONTROL OF OUR MONEY! The Financial Aid Office was full of credit card offers that seemed almost too good to be true. Within a month I had accumulated 3 credit cards. Could it really be this simple? How could I manage to get extremely high credit limits from banks that knew little or nothing about me? I take full responsibility for overextending myself, but what were they thinking when they offered a Junior College Student a $4000 line of credit, especially when my source of income read "Full Time Student with No Income?" The job market is quite anemic right now, so I settled for a position that offers great benefits in exchange for a salary that makes flipping burgers appear to look better and better! So much for ranking in the 98th percentile in the field of International Relations! Instead of working abroad, helping to make the world a better place, I'm working for a bank in the collections department for their credit card division. SUZE ADDRESSES SIMILAR ISSUES, ABOUT THE LACK OF JOBS FOR COLLEGE GRADUATES, AND HELPS US TACKLE THIS PROBLEM WITH EASE! Enough of the negativity as my career is just beginning and I'm being productive and making payments towards the debts I owe. "I Owe, I Owe, So Off to Work I Go...!" This is one of the best books, of this important genre, that I've ever read and been so enlightened by-in every possible way. I finished reading it this evening and had so much energy that I went for a run, focused on her many strategies for making positive changes in my life, and arrived home to sit down and face all of my "Debt Demons" head on. ORMAN REACHES THE HIGHEST LEVEL EVER AND TEACHES US HOW TO RECOVER FROM ANY TEMPORARY BUMP IN THE ROAD! In the typical financial sense, I might be considered "...Young...and Broke!" But money is only one form of currency in life. It is NOT everything and there are many other important forms of "Currency" in life. I'm blessed with a good amount of spiritual currency and friendship currency-so I'm far from being broke. I'm still Young and, for the first