Reddit mentions of The Money Book for the Young, Fabulous & Broke

I liked Suze Orman's book for young people. But it sounds like your daughter has a spending problem, which isn't quite the same as "I'm ready to learn how to plan for my future".

Be selective in accumulating items. If and when you move you'll have to move all those items.

This book title might be fitting :

>The Money Book for the Young, Fabulous & Broke

>http://www.amazon.com/Money-Book-Young-Fabulous-Broke/dp/1594482241

My favorites are:

• "The Money Book for the Young, Fabulous, and Broke" by Suze Orman link
  
• "All Your Worth" by Elizabeth Warren link
  
• "Personal Finance for Dummies" by Eric Tyson link
  
• "Personal Finance at your Fingertips" by Ken Little link

I was in your position a while back, and this book did a great job of helping me start making sense of personal finance. From there, I went down a rabbit hole of reading pretty much everything from the PF reading list.

I'm in a similar position. I don't have a huge emergency fund because I know in a real dire emergency I could always call up my parents. I'd rather pay my loans quicker than work for years to build an emergency fund and I have the luxury of that. If you have any kind of safety net like that you might want to do the same.

So here is how I do it:

• Emergency fund (up to a couple months of living expenses)
  
• 401k up to company match (mine doesn't match right now so i skip this)
  
• Student loans (what you can pay over min payment, target high interest loans)
  
• Roth IRA (can only put away 5,500 in this a year)
  
• Short term savings (or apply any extra not used for living expenses to loans or more to 401k if you like)
  
  I think you should throw as much money as you can at the loans without skipping on your 401k and possibly a roth IRA. Those loans are guaranteed to lose you money at their interest rates.
  
  You should also make sure the funds you choose on your 401k are low expense ratios with no loading fees. There is some good info on this in the sidebar.
  
  This book looks a bit cheesy but honestly it spells everything out in simple terms and it's meant for recent grads. I grabbed it off my roommates bookshelf one day and ended up reading it cover to cover. It really re-states much of what anyone on this subreddit would tell you.
  
  Best of luck, sounds like you have a good start on things!

A nation is valued by what it creates. Having a 300 million people who can have a mathematical ceiling of balancing a checkbook is not very competitive.


> I am actually working with a publisher to develop a Streets Smarts textbook for high-school and colleges around the US, and will definitely be incorporating some Reddit's thoughts and suggestions into the book.

It's already been created, http://www.amazon.com/Money-Book-Young-Fabulous-Broke/dp/1594482241/ref=sr_1_2?ie=UTF8&qid=1293751075&sr=8-2 It is cheap and quite concise.

The best ones are of course free, and both this subreddit and bogelheads have a wealth of knowledge. I try and watch a tutorial or read a story a few times a week on both


For how to create and stick to a budget as a young professional, I like Dave Ramsey. He has tons of good rules of thumb and pitfalls to avoid that will be useful for the rest of your life. He's a bit conservative though, and I don't necessarily agree with his cash only, no debt strategies.


https://www.amazon.com/Total-Money-Makeover-Classic-Financial/dp/1595555277/ref=sr_1_1?ie=UTF8&qid=1480449960&sr=8-1&keywords=dave+ramsey


Suze Orman is another great author for younger people, especially when tackling big things for the 1st time like home ownership and loans


https://www.amazon.com/Money-Book-Young-Fabulous-Broke/dp/1594482241/ref=sr_1_1?ie=UTF8&qid=1480450023&sr=8-1&keywords=suze+orman


My top suggestion though is Rich Dad, Poor Dad. It's not as direct as many other personal finance books, as its more general advice on how to steer your financial life, but itss an incredible book


https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680011/ref=sr_1_1?ie=UTF8&qid=1480450131&sr=8-1&keywords=rich+dad+poor+dad

If you're just starting out, this book REALLY helped me.



http://www.amazon.com/Money-Book-Young-Fabulous-Broke/dp/1594482241/ref=sr_1_1?s=books&ie=UTF8&qid=1417882348&sr=1-1&keywords=young+fabulous+and+broke

Suze Orman has a whole line of books, and a TV show. I think one of them is "The Money Book for the Young, Fabulous & Broke". You can probably spot it at the local library, or buy a used copy from Amazon for about $4 after shipping & handling.
https://www.amazon.com/Money-Book-Young-Fabulous-Broke/dp/1594482241/

But you could just as easily browse the category on Amazon ("financial planning") and use reviews to guide you to a good library book or purchase a used book.
https://www.amazon.com/gp/bestsellers/books/2717/ref=pd_zg_hrsr_b_2_3

The Money Book for the Young, Fabulous, and Broke by Suze Orman