Personal Finance in Your 20s & 30s For Dummies, 3rd Edition

Book description

The money lessons you wish you’d learned in school

Personal Finance in Your 20s & 30s For Dummies helps Millennials and Zoomers like you make smart financial moves. It’s not as tough as it looks to reduce and file your taxes, pay off your student debt, buy a home, keep a budget to save and invest wisely, or start that side hustle, just to name a few. With a little bit of focus, you can start a clear path to financial freedom and avoid mistakes today. Your future self will thank you.

This edition is full of updates for the 2020s; wrap your mind around your investment opportunities, the realities of making a second income, higher ed options for career advancement, and lessons learned from the COVID-19 pandemic. If you’re in need of financial guidance—and who isn’t?—this is the book you need.

  • Pay off loans, manage your credit, begin the home-buying journey, and more
  • Set realistic money goals so you can create a solid path for financial success
  • Make smart decisions to beef up your bank account and investment portfolio
  • Protect the money you have today and learn how to put your money to work for the future

Get ready to turn up the volume on your financial know-how and stop worrying about money!

Table of contents

  1. Cover
  2. Title Page
  3. Copyright
  4. Introduction
    1. About This Book
    2. Foolish Assumptions
    3. Icons Used in This Book
    4. Beyond the Book
    5. Where to Go from Here
  5. Part 1: Getting Started with Personal Finance
    1. Chapter 1: Your Financial Checkup
      1. Calculating Your Financial Worth
      2. Grasping the Importance of Your Savings Rate
      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 Mindset
      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. Paying 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
  6. 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 and Restaurant Spending
      4. Trimming Transportation Expenses
      5. Finessing Fashion Finances
      6. Relaxing on a Budget
      7. Taming Technology Spending
      8. Keeping Down Insurance Costs
      9. Getting Affordable and Quality Professional Advice
      10. Handling Healthcare Expenses
    2. Chapter 6: Taxes: Reduce Them When You Can!
      1. Understanding Taxable Income
      2. Comparing Marginal Taxes
      3. Changes from the Tax Cut and Jobs Act Bill
      4. Reducing Taxes on Work Income
      5. Increasing Your Deductions
      6. Lowering Investment Income Taxes
      7. Enlisting Education Tax Breaks
      8. 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
  7. Part 3: Investing for Your Future Goals
    1. Chapter 10: Successful Investing Principles
      1. Examining Bonds and Other Lending Investments
      2. Exploring Stocks, Real Estate, and Small-Business Investments
      3. Considering Options, Cryptocurrencies, and Other Hot Vehicles
      4. Getting a Handle on Investment Risks
      5. Spreading Your Investment Risks
      6. Selecting an Investment Firm
      7. Evaluating Pundits and Experts
    2. Chapter 11: Making the Best Use of Bank Accounts
      1. Looking at Different Types of Banks
      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
  8. Part 4: Insurance: Protect Yourself, Your Loved Ones, and Your Assets
    1. Chapter 14: Taking Care with 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, Renter’s, and Other Insurance Policies
      1. Protecting Your Home and Possessions: Homeowner’s and Renter’s Insurance
      2. Insuring Your Car
      3. Avoiding Policies That Cover Small Possible Losses
  9. 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
  10. 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
  11. Index
  12. About the Author
  13. Advertisement Page
  14. Connect with Dummies
  15. End User License Agreement

Product information

  • Title: Personal Finance in Your 20s & 30s For Dummies, 3rd Edition
  • Author(s): Eric Tyson
  • Release date: June 2021
  • Publisher(s): For Dummies
  • ISBN: 9781119805434