O'Reilly logo

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Smart is the New Rich: Money Guide for Millennials

Smart is the New Rich: Money Guide for Millennials

by Christine Romans
Publisher: John Wiley & Sons
Release Date: March 2015
ISBN: 9781118949368
View table of contents
Start reading

Book Description

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.

    Table of Contents

    1. Title Page
    2. Copyright
    3. Dedication
    4. Preface
    5. Acknowledgments
    6. Chapter 1: How to Think About Money: Budgeting Basics
      1. Pay Yourself First
      2. How Much Should You Save?
      3. The Rainy-Day Fund
      4. Roadblocks to Money Success
      5. The Holiday Red Flag
      6. Your Money Quiz
      7. Chapter 1 Action Plan
      8. Notes
    7. Chapter 2: College Investment
      1. The Million-Dollar Payoff
      2. It's Cheaper to Save Than Borrow
      3. Four Ways to Keep College Costs Down
      4. What Do You Want to Be When You Grow Up?
      5. Not All Degrees Are Equal
      6. Chapter 2 Action Plan
      7. Notes
    8. Chapter 3: Managing Debt
      1. Paying Off the Debt
      2. Interest Rate Triage
      3. A Safety Net for Low-Income Grads
      4. Public Service Loan Forgiveness
      5. Live Like a Student
      6. Chapter 3 Action Plan
      7. Notes
    9. Chapter 4: Job Market Fundamentals
      1. The Long Healing Process
      2. Fastest-Growing States
      3. The College Degree Advantage
      4. Chapter 4 Action Plan
      5. Notes
    10. Chapter 5: Millennials at Work
      1. Resume #fail
      2. You've Got Two Minutes
      3. The Hidden Jobs Market
      4. Don't Call Them Soft Skills
      5. Keep Your Eye on the Ball
      6. Lean In or Lean Back
      7. Online Tools to Help Set You Apart
      8. Chapter 5 Action Plan
      9. Notes
    11. Chapter 6: House Money
      1. Missing the Real Estate ReboundSo Far
      2. Generation Renter
      3. Get Ready to Buy
      4. Mortgage Rates
      5. Location, Location, Location
      6. Affordability
      7. Living at Home
      8. Chapter 6 Action Plan
      9. Notes
    12. Chapter 7: Family Money
      1. Dating and Money
      2. The “Talk”
      3. What Kind of Debt?
      4. Piggy Bank Parents
      5. Friends and Finances
      6. Crowdfund Our Wedding
      7. Chapter 7 Action Plan
      8. Notes
    13. Chapter 8: Understanding Investments
      1. Getting Started: Tax-Advantaged Retirement Accounts
      2. Time Is a Four-Letter Word
      3. No 401(K)? Invest Anyway
      4. Building Blocks
      5. Chapter 8 Action Plan
      6. Notes
    14. Chapter 9: Credit Karma
      1. Debit Cards
      2. Overdraft Protection
      3. So You Want a Credit Card?
      4. What Is the Credit Score?
      5. Expensive Credit Monitoring
      6. What Is the Fed?
      7. Time to Buy a Car
      8. Chapter 9 Action Plan
      9. Notes
    15. Appendix A: Web Resources
      1. Chapter 1
      2. Chapter 2
      3. Chapter 3
      4. Chapter 4
      5. Chapter 6
      6. Chapter 7
      7. Chapter 8
      8. Chapter 9
    16. Appendix B: Cover Letters: The Good, the Bad, and the Ugly
    17. Appendix C: PayScale 2014–2015 College Salary Report
    18. About the Author
    19. Index
    20. End User License Agreement