The Money Book For The Young, Fabulous & Broke by Suze OrmanThe Money Book For The Young, Fabulous & Broke by Suze Orman

The Money Book For The Young, Fabulous & Broke

bySuze Orman

Paperback | March 27, 2007

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about

The New York Times bestselling financial guide aimed squarely at "Generation Debt"—and their parents—from the country's most trusted and dynamic source on money matters.

The Money Book for the Young, Fabulous & Broke
is financial expert Suze Orman's answer to a generation's cry for help. They're called "Generation Debt" and "Generation Broke" by the media — people in their twenties and thirties who graduate college with a mountain of student loan debt and are stuck with one of the weakest job markets in recent history. The goals of their parents' generation — buy a house, support a family, send kids to college, retire in style — seem absurdly, depressingly out of reach. They live off their credit cards, may or may not have health insurance, and come up so far short at the end of the month that the idea of saving money is a joke. This generation has it tough, without a doubt, but they're also painfully aware of the urgent need to take matters into their own hands.

The Money Book
was written to address the specific financial reality that faces young people today and offers a set of real, not impossible solutions to the problems at hand and the problems ahead. Concisely, pragmatically, and without a whiff of condescension, Suze Orman tells her young, fabulous & broke readers precisely what actions to take and why. Throughout these pages, there are icons that direct readers to a special YF&B domain on Suze's website that offers more specialized information, forms, and interactive tools that further customize the information in the book. Her advice at times bucks conventional wisdom (did she just say use your credit card?) and may even seem counter-intuitive (pay into a retirement fund even though your credit card debt is killing you?), but it's her honesty, understanding, and uncanny ability to anticipate the needs of her readers that has made her the most trusted financial expert of her day.

Over the course of ten chapters that can be consulted methodically, step-by-step or on a strictly need-to-know basis, Suze takes the reader past broke to a secure place where they'll never have to worry about revisiting broke again. And she begins the journey with a bit of overwhelmingly good news (yes, there really is good news): Young people have the greatest asset of all on their side — time.
Suze Orman is a two-time Emmy Award–winning television host, #1 New York Times bestselling author, magazine and online columnist, writer/producer, and one of the top motivational speakers in the world today. Orman has written nine consecutive New York Times bestsellers and has written, co-produced, and hosted seven PBS specials base...
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Title:The Money Book For The Young, Fabulous & BrokeFormat:PaperbackDimensions:400 pages, 7.98 × 6 × 0.93 inPublished:March 27, 2007Publisher:Penguin Publishing GroupLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:1594482241

ISBN - 13:9781594482243

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Reviews

Rated 5 out of 5 by from Required reading for all twenty-somethings! A beginner’s guide to life after school, Suze Orman tackles the tough issues facing the young and ambitious. Unlike many other financial guides which offer income management solutions, this book realizes that the average college graduate just embarking on their career will be loaded with student loans, living off a credit card, and earning only entry-level paycheques. This book introduces a way of thinking about money and debt that is simply not taught in school. It is not a spreadsheets and budgeting boot camp, in fact – page 146 declares quite prominently in its title: “Screw Budgets.” Suze Orman covers all the basics and more, including... - Credit reports - Career advice - Credit cards - Student loans - Saving, investing and retirement accounts - Buying a car or a home - Marriage & money Whether you’re broke or not, this is a great guide for anyone just starting out in the work force. While written for an American audience, young Canadians will still find it relevant as there are many parallel services and products offered in Canada.
Date published: 2009-03-12

Read from the Book

INTRODUCTION Listen, I know dealing with the responsibility of money, especially a lack of money, may not necessarily be high on your list of priorities. But something motivated you and brought you to this page, so in some way you are telling yourself it’s time to start dealing with your financial life. It’s time to make some changes.Most likely, you are young; I hope you feel you are fabulous; and chances are, you are also broke. I’ve talked to thousands of young people like you over the years, and, for what it’s worth, you’ve got plenty of company.But you also have a great way out of your current situation. You have time. Because you are young, you have the time to right any missteps, and the time to build a solid financial life. I also know that you have the bandwidth to take the advice in this book and put it into action. You may be intent on feeling beaten up these days, but I’m not going to play along. I admire you for your grit in coping with a lousy job market, skyrocketing real estate values, and hefty student loans. But what I also hear when I talk to you is that you have what it takes to manage the hand you’ve been dealt.Now, having said all that, I wouldn’t be surprised if you’re wondering if this book can really deliver the goods or if it’s going to be yet another personal finance book by someone who has no clue about the issues you’re dealing with. I guarantee you that this is definitely not your parents’ money book. I get your situation.The advice in this book is customized to fit your life today. How do I know what you’re going through? Because you told me. You were quite blunt about what you want from me, as well as what you don’t want.You want advice that deals with your reality—a set of solutions for the problems you have. You want to be told what to tackle first, and you want clear advice on how to get the job done. And that’s what you are going to get here, delivered as concisely as possible. I only dive into details that are absolutely crucial to your success. And you don’t need an iota of prior knowledge. I know you’ve been too busy or uninspired to figure out how a Roth IRA works, what a FICO score is, and why you should even care. No worries. I have written every section of this book so you can quickly and easily comprehend exactly what actions you need to take and why.What you don’t want is yet another personal finance book spewing the same old advice that doesn’t work for you. I completely agree. You won’t catch me telling you to cut back on the lattes and “simply” save $10 a day. As if saving $3,650 a year when you are broke could ever be simple. Nor will I tell you that credit cards are the devil in plastic (on the contrary, I think they can be good for you) or that you must have eight months of living expenses saved up as your emergency reserve fund before you are allowed past go. Un-uh. I know that’s not realistic or reasonable for the majority of you at this point in your lives.Besides, if you didn’t have credit card debt and you already had an eight-month emergency cash fund, why would you have picked up this book? You sure wouldn’t fit my definition of broke. BROKE IS relying on a cash advance on your credit card to pay the rent or mortgage, and praying that you have enough left on your credit line to do so. BROKE IS having a ton of student loans that make you nauseated when you think about how long it is going to take you to pay them off. BROKE IS not opening your credit card bills because you’re terrified to see what you owe and have no way of paying. So instead, you get hit with the late fee and finance charges. BROKE IS wanting to buy a home but having no clue where you can come up with the down payment. So you are stuck renting a small place. BROKE IS counting every coin in your change jar as well as scrounging under the sofa cushions in a desperate attempt to find the dough to cover your bounced check and the $25 fee your bank is going to slap on you. BROKE IS wanting to save for your kids’ college educations but not knowing how to swing it because you are already strapped trying to make the mortgage and car payment, and you haven’t even started saving for your retirement. BROKE IS not having one penny saved, even though you have a good job. If your car breaks down, so will you. You don’t have the money for repairs, but you need the wheels to get to work.This is by no means an exhaustive list. I’m sure if we all met up, we could have a great time seeing who has the best “Broke is” story. But even though your specific stories may differ, you all want the same thing. You want to fix your situation so you are no longer broke.That is exactly what this book is about. Our starting point is that you are broke, by your or any definition. Our ending point is that you are not. And we aren’t just going to get you past broke, we are going to make sure you never revisit broke. This is such an important point; I see far too many people go from being broke to finally having some money, only to slip back to broke again because they didn’t know what to do with their money. I don’t want that to happen to you.Here’s the bottom line: You picked up this book because you are broke. Keep reading and you will discover what you need to know—and do—so you will not be broke forever.

Editorial Reviews

"An especially useful book for people who are young, in debt, and inexperienced. Fabulous!" —The Miami Herald"Ah, how we wish we'd read something like this when we were young, fabulous, and stupid. Financial advice for the loan-saddled, credit-card-maxed-out twenty-five to thirty-five-year-old set." —The Seattle Times"Orman does a good job of addressing in her friendly, conversational style the financial topics relevant to a younger audience." —The Kansas City Star"Orman has made her reputation being a financial know-it-all, and she is out in full force with her latest. As always, she doesn't mince words... Orman's writing is direct, her tone friendly. Orman believes in empowering her young readers by talking to them straight... Each page draws you in with tips, questions, strategies, and lots of information. It is a lively book." —Pittsburgh Tribune Review"Downright useful... Orman takes on the financial woes of the under-thirty-five crowd in this how-to book that tackles the mystery behind credit ratings, when to finance your dream business with credit-card debt, and how to talk to your boyfriend about his check-bouncing habit." —Publishers Weekly"The first to target teens and twentysomethings, and she adapts her message appropriately, offering 'The Lowdown' on topics from credit scores to career moves to consolidating school debt." —Newsweek"Written in a noncondescending manner, and Orman modifies some of the suggestions she has made for her older readers." —New York Post"Unlike other finance books, this one is accessible and addresses real problems. In her usual passionate tone, Orman counsels how to consolidate student loans, how to squeeze a bit more money out of your paycheck if you're making just enough to get by, how to deal practically with credit-card debt, how to shop for a new or used car, what type of auto insurance to purchase, and how to focus on getting the right job." —The Hartford Courant