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Personal Finance in Your 20s and 30s For Dummies

Book Description

Create a solid pathway for financial success

Millennials often confront greater difficulties—including economic uncertainty and student debt—than those who came before them. This new financial responsibility can be intimidating, and many people are unsure where to begin. Personal Finance in Your 20s & 30s For Dummies will help Millennials to be confident about managing their finances and get on a clear path toward financial security.

Inside, trusted financial advisor Eric Tyson shows students and recent grads how to make smart financial decisions in order to pay off student loans, avoid any additional debt, and create a solid plan to ensure their financial success. From avoiding common money mistakes to making informed investment choices, Personal Finance in Your 20s & 30s For Dummies covers it all!

  • Build a foundation through smart spending and saving
  • Rent, buy, or sell a house
  • File taxes the right way
  • Protect your finances and identity in the digital world

Get ready to forge your own path to financial security!

Table of Contents

    1. Cover
    2. Introduction
      1. About This Book
      2. Foolish Assumptions
      3. Icons Used in This Book
      4. Beyond the Book
      5. Where to Go from Here
    3. Part 1: Getting Started with Personal Finance
      1. Chapter 1: Your Financial Checkup
        1. Calculating Your Financial Worth
        2. Grasping the Importance of Savings
        3. Understanding and Improving Your Credit Score
        4. Comprehending Your Investment Options
        5. Examining Insurance Coverage
        6. Identifying Common Financial Mistakes Young Adults Make
      2. Chapter 2: Budgeting, Goal Setting, and Valuing Saving
        1. Developing a Savings Mind-Set
        2. What It’s Worth: Valuing Savings over Time
        3. Budgeting and Boosting Your Savings
        4. Setting and Prioritizing Your Savings Goals
        5. Saving When You’re Strapped
      3. Chapter 3: Using Loans and Paying Down Debts
        1. Eyeing the Causes of Generational Debt
        2. Making the Most of Loans
        3. Dealing With Student-Loan Debt
        4. Working Off Consumer Debt
        5. Getting Help for Extreme Debt
        6. Preventing Consumer Debt Relapses
      4. Chapter 4: Everything Credit: Scores and Reports
        1. A Primer on Credit Reports and Credit Scores
        2. Getting Your Hands on Your Credit Reports and Scores
        3. Scrutinizing Your Credit Reports to Improve Them
        4. Preventing Identity Theft
    4. Part 2: Saving and Earning More
      1. Chapter 5: Proven Ways to Spend Less and Save More
        1. Containing Housing Costs
        2. Cutting Your Taxes
        3. Managing Food Costs
        4. Trimming Transportation Expenses
        5. Finessing Fashion Finances
        6. Relaxing on a Budget
        7. Taming Technology Spending
        8. Keeping Down Insurance Costs
        9. Getting Professional Advice
        10. Handling Healthcare Expenses
      2. Chapter 6: Taxes: Reduce Them or Else!
        1. Understanding Taxable Income
        2. Comparing Marginal Taxes
        3. Reducing Taxes on Work Income
        4. Increasing Your Deductions
        5. Lowering Investment Income Taxes
        6. Enlisting Education Tax Breaks
        7. Preparing Your Tax Return and Minimizing Your Taxes
      3. Chapter 7: Housing: Comparing Renting and Buying
        1. The Ins and Outs of Renting
        2. Figuring the Costs of Owning and Making It Happen Financially
        3. Finding the Right Property
        4. Working with Real-Estate Agents
        5. Financing Your Home
        6. Putting Your Deal Together
      4. Chapter 8: Relationships and Money
        1. Handling Roommates
        2. Living-Together Contracts
        3. Getting Married
        4. Understanding Your Money Beliefs and Practices
        5. Getting a Grip on Procrastination Where Money is Concerned
      5. Chapter 9: Making the Most of Your Career
        1. Getting Your Career Going
        2. Exploring Entrepreneurial Options
        3. Changing Jobs or Careers
        4. The Young and the Unemployed
    5. Part 3: Investing for Your Future Goals
      1. Chapter 10: Successful Investing Principles
        1. Understanding Investments
        2. Getting a Handle on Investment Risks
        3. Spreading Your Investment Risks
        4. Selecting an Investment Firm
        5. Evaluating Pundits and Experts
      2. Chapter 11: Making the Best Use of Bank Accounts
        1. Identifying Your Options
        2. Understanding Your Bank Account Options
        3. Banking Online
        4. Considering Your Alternatives
      3. Chapter 12: Portfolios for a Purpose
        1. Before You Begin Investing
        2. Investing Nonretirement Account Money
        3. Investing Retirement Account Money
        4. Investing for Education
      4. Chapter 13: Real-Estate Investing
        1. Understanding Real-Estate Investment Pros and Cons
        2. Evaluating Simpler Real-Estate Investments
        3. Assessing Residential Housing Investments
        4. Investing in Commercial Real Estate
        5. Shunning Sure-to-Lose Real-Estate Investments
        6. Researching Where and What to Buy
        7. Digging for a Good Deal
    6. Part 4: Insurance: Protect Yourself, Your Loved Ones, and Your Assets
      1. Chapter 14: The Lowdown on Health Insurance
        1. Making Sure You’re Covered
        2. Finding Your Best Health Plan
        3. Shopping for Health Insurance
        4. Health Savings Accounts: Tax Reduction for Healthcare Costs
      2. Chapter 15: Safeguarding Your Income
        1. Protecting Your Income for You and Yours: Disability Insurance
        2. Protecting Your Income for Dependents: Life Insurance
        3. Caring for Your Loved Ones: “Peace of Mind” Insurance
      3. Chapter 16: Home, Auto, Renters, and Other Insurance Policies
        1. Protecting Your Home and Possessions: Homeowners and Renters Insurance
        2. Insuring Your Car
    7. Part 5: Your Information Diet
      1. Chapter 17: Using Media Resources
        1. Going Online: The Wild West of Advice and Predictions
        2. Getting Financial Perspectives and Advice from the Media
      2. Chapter 18: Professionals You Hire
        1. Seeing the Value of Professional Advice
        2. Considering Financial Advisors
        3. Taming Your Taxes with Help
        4. Working with Real-Estate Agents
        5. Using Online Resources to Find Service Providers
    8. Part 6: The Part of Tens
      1. Chapter 19: Ten Ways to Save on a Car
        1. Don’t Buy a Car in the First Place
        2. Pay Cash: Shun Leasing and Borrowing
        3. Consider Total Costs
        4. Compare New with Used
        5. Understand a Car’s Real Value Before Negotiating
        6. Take Care of Your Car
        7. Explore Your Servicing Options
        8. Drive Safely
        9. Take a Lean and Mean Insurance Policy
        10. Track Tax-Deductible Auto Expenses
      2. Chapter 20: Ten Things to Value More Than Your Money
        1. Investing in Your Health
        2. Making and Keeping Friends
        3. Appreciating What You Have
        4. Minding Your Reputation
        5. Continuing Education
        6. Having Fun
        7. Putting Your Family First
        8. Knowing Your Neighbors
        9. Volunteering and Donating
        10. Caring for Kids
      3. Chapter 21: Nearly Ten Things to Know About Apps
        1. You May Well Get What You Paid for with “Free” Apps
        2. Conduct and Manage Financial Tasks
        3. Use Apps Only from Legitimate Companies with Lengthy Track Records
        4. Consider the Alternatives to an App
        5. Keep Focused on Your Spending
        6. Settle up with Friends but Beware Fees
        7. Save Money on Commonly Purchased Items
        8. Tap Into the Latest Economic and Financial Data
        9. Invest With Confidence
    9. Investing in Your 20s & 30s For Dummies
      1. Bonus: Investing in Funds: Mutual Funds and Exchange-Traded Funds
        1. Understanding the Advantages of Funds
        2. Maximizing Your Chances for Fund Investing Success
        3. Creating and Managing a Fund Portfolio
        4. Identifying the Best Mutual Funds and ETFs
        5. Considering Alternatives to Investing in Funds
    10. About the Author
    11. Connect with Dummies
    12. End User License Agreement