Smart Is the New Rich - Money Guide for Millennials

Time is on your side--smart money management for Millennials
 
Smart is the New Rich: Money Guide for Millennials is an interactive, step-by-step guide to all things money. From credit, student debt, savings, investing, taxes, and mortgages, CNN's chief business correspondent Christine Romans shows this newest generation of earners how to build wealth. You'll learn the old-fashioned approach that leads to a healthier financial lifestyle, and open the door on a straightforward conversation about earning, saving, spending, growing, and protecting your money. You'll learn how to invest in the stock market or buy a home, even if you are still paying off student loan debt. Romans offers expert insight on the "New Normal," and why the rules of the credit bubble--the one you were raised in--no longer apply. Checklists and quizzes help solidify your understanding, and pave the way for you to start putting these new skills into action.
 
For thirty years, the financial rules for life revolved around abundant credit at the ready. A quick look around makes it obvious that those rules no longer work, and Millennials just now coming of age and entering the workforce need a new plan to build a solid financial foundation and healthy money habits. This book puts you on the right track, with step-by-step help and expert guidance.
* Learn what you should ask yourself before spending any money
* Revisit some old money rules that are actually good habits
* See simple rules for managing student debt
* Learn how to talk about money with friends, dates, and parents
* Find out what makes a Millennial successful in the workforce
 
The economy is out of recession and growing, but many young people feel left out of the recovery. It's why smart spending, saving, and debt management is so critical right now for them. A smart money plan is no longer a "nice to have" extra, it's mandatory. Smart is the New Rich: Money Guide for Millennials is your guide on how to use time and some good money manners to build wealth.

List of contents

Preface xi
 
Acknowledgments xv
 
Chapter 1 How to Think About Money: Budgeting Basics 1
 
Pay Yourself First 6
 
How Much Should You Save? 8
 
The Rainy-Day Fund 12
 
Roadblocks to Money Success 15
 
The Holiday Red Flag 15
 
Your Money Quiz 16
 
Chapter 2 College Investment 19
 
The Million-Dollar Payoff 21
 
It's Cheaper to SaveThan Borrow 23
 
Four Ways to Keep College Costs Down 24
 
WhatDo YouWant to Be When You Grow Up? 27
 
Not All Degrees Are Equal 31
 
Chapter 3 Managing Debt 37
 
Paying Off the Debt 39
 
Interest Rate Triage 42
 
A Safety Net for Low-Income Grads 43
 
Public Service Loan Forgiveness 45
 
Live Like a Student 45
 
Chapter 4 Job Market Fundamentals 49
 
The Long Healing Process 51
 
Fastest-Growing States 52
 
The College Degree Advantage 54
 
Chapter 5 Millennials at Work 59
 
Resume #Fail 64
 
You've Got Two Minutes 66
 
The Hidden Jobs Market 67
 
Don't Call Them Soft Skills 70
 
Keep Your Eye on the Ball 72
 
Lean In or Lean Back 72
 
Online Tools to Help Set You Apart 77
 
Chapter 6 House Money 81
 
Missing the Real Estate Rebound...So Far 84
 
Generation Renter 86
 
Get Ready to Buy 89
 
Mortgage Rates 91
 
Location, Location, Location 92
 
Affordability 93
 
Living at Home 93
 
Chapter 7 Family Money 97
 
Dating and Money 99
 
The "Talk" 102
 
What Kind of Debt? 104
 
Piggy Bank Parents 107
 
Friends and Finances 108
 
Crowdfund Our Wedding 109
 
Chapter 8 Understanding Investments 111
 
Getting Started: Tax-Advantaged Retirement Accounts 115
 
Time Is a Four-Letter Word 116
 
No 401(K)? Invest Anyway 120
 
Building Blocks 123
 
Chapter 9 Credit Karma 129
 
Debit Cards 130
 
Overdraft Protection 131
 
So You Want a Credit Card? 131
 
What Is the Credit Score? 133
 
Expensive Credit Monitoring 135
 
What Is the Fed? 137
 
Time to Buy a Car 138
 
Appendix A Web Resources 141
 
Appendix B Cover Letters: The Good, the Bad, and the Ugly 145
 
Appendix C PayScale 2014-2015 College Salary Report 153
 
Notes 193
 
About the Author 199
 
Index 201

About the author

CHRISTINE ROMANS is CNN'S Chief Business Correspondent and anchor of Early Start with John Berman and Christine Romans weekdays 4 a.m. to 6 a.m. ET. She won an Emmy award for her work on the series "Exporting America" about globalization and outsourcing American jobs overseas. She is the author of Smart is the New Rich: If You Can't Afford It? Put It Down and How to Speak Money.

Summary

Time is on your side smart money management for Millennials Smart is the New Rich: Money Guide for Millennials is an interactive, step-by-step guide to all things money.

Product details

• Authors: Christine Romans, Romans Christine
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 19.05.2015
• EAN: 9781118949351
• ISBN: 978-1-118-94935-1
• No. of pages: 224
• Subjects: Guides > Law, job, finance > Money, bank, stock market; Social sciences, law, business > Business > Business administration; Geldanlage, Privateigentum, Personal finance, Finanz- u. Anlagewesen