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Get a Financial Life: Personal Finance in Your Twenties and Thirties
A completely revised and updated fourth edition of the New York Times bestseller, designed to guide younger adults through the world of personal finance.
More than ever before, people in their twenties and thirties need help getting their financial lives in order. And who could blame them? These so-called millennials have come of age in the wake of the worst economic crisis in memory, and are now trying to get by in its aftermath. They owe record levels of student loan debt, face sky-high rents, and struggle to live on a budget in an uncertain economy.
It’s time for them to get a financial life.
For two decades, Beth Kobliner’s bestseller has been the financial bible for people in their twenties and thirties. With her down-to-earth style, she has taught them how to get out of debt, learn to save, and invest for their futures. In this completely revised and updated edition, Kobliner shares brand-new insights and concrete, actionable advice geared to help a new generation of readers form healthy financial habits that will last a lifetime. With fresh material that reflects the changing digital world, Get a Financial Life remains an essential tool for young people learning how to manage their money.
From tackling taxes to boosting credit scores, Get a Financial Life can show those just starting out how to decrease their debt, avoid common money mistakes, and navigate the world of personal finance in today’s ever-changing landscape.
More than ever before, people in their twenties and thirties need help getting their financial lives in order. And who could blame them? These so-called millennials have come of age in the wake of the worst economic crisis in memory, and are now trying to get by in its aftermath. They owe record levels of student loan debt, face sky-high rents, and struggle to live on a budget in an uncertain economy.
It’s time for them to get a financial life.
For two decades, Beth Kobliner’s bestseller has been the financial bible for people in their twenties and thirties. With her down-to-earth style, she has taught them how to get out of debt, learn to save, and invest for their futures. In this completely revised and updated edition, Kobliner shares brand-new insights and concrete, actionable advice geared to help a new generation of readers form healthy financial habits that will last a lifetime. With fresh material that reflects the changing digital world, Get a Financial Life remains an essential tool for young people learning how to manage their money.
From tackling taxes to boosting credit scores, Get a Financial Life can show those just starting out how to decrease their debt, avoid common money mistakes, and navigate the world of personal finance in today’s ever-changing landscape.
352 pages, Paperback
First published May 6, 1996
About the author
Beth Kobliner
2 books44 followersOne of the nation’s leading authorities on personal finance for young people, BETH KOBLINER is a commentator and journalist, and author of the New York Times bestsellers GET A FINANCIAL LIFE & MAKE YOUR KID A MONEY GENIUS (EVEN IF YOU'RE NOT). Available now on Amazon, Barnes & Noble, & wherever books are sold.
In 2010, Beth was selected by President Barack Obama to be a member of the President’s Advisory Council on Financial Capability, where she created MoneyAsYouGrow.org. The site attracted more than 1.4 million visitors and was adopted by the Consumer Financial Protection Bureau in 2016.
A former columnist for Money magazine, Beth has written for numerous other publications, including the New York Times and the Wall Street Journal, as well as outlets such as Glamour; O, The Oprah Magazine; and The Huffington Post. She has appeared on numerous television and radio programs, from Today, Good Morning America, and the Early Show to National Public Radio’s Morning Edition. As a content advisor for Sesame Workshop’s financial education initiative For Me, For You, For Later, she offered on-air money advice to Elmo.
In 2010, Beth was selected by President Barack Obama to be a member of the President’s Advisory Council on Financial Capability, where she created MoneyAsYouGrow.org. The site attracted more than 1.4 million visitors and was adopted by the Consumer Financial Protection Bureau in 2016.
A former columnist for Money magazine, Beth has written for numerous other publications, including the New York Times and the Wall Street Journal, as well as outlets such as Glamour; O, The Oprah Magazine; and The Huffington Post. She has appeared on numerous television and radio programs, from Today, Good Morning America, and the Early Show to National Public Radio’s Morning Edition. As a content advisor for Sesame Workshop’s financial education initiative For Me, For You, For Later, she offered on-air money advice to Elmo.
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Displaying 1 - 30 of 324 reviews
August 31, 2018
A comprehensive, easy to read guide to personal finance. Practical advice on managing your money and avoiding costly mistakes. Although marketed to younger adults, I highly recommend this book to anyone seeking to understand money matters and make smarter financial decisions.
June 28, 2022
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
—Charles Dickens
I bought this book shortly after I graduated college. If only I had read it. Instead, like so many of my wishful book purchases, this lingered on my shelf for years until, finally, chastened by time, filled with regrets, I picked it up to see what I had missed.
The wisdom that Kobliner has to share with us is, in essence, just an application of Mr. Micawber’s sage financial advice. But in an economic world as complex and perilous as ours, remaining solvent is a little more complicated than just spending less than you make. Thankfully, on a wide array of topics—from paying off debts to buying insurance, from choosing a mortgage to filing taxes—Kobliner is full of simple and sensible advice. Because of her accessible style, her non-judgmental tone, and her focus on people who do not make much money, I think this book is an excellent resource for young adults. (But of course they actually have to read it, not just leave it on their bookshelves.)
Reading it now, I was struck by how very American the book is. Whole sections—such as paying off student debt, finding affordable medical insurance, and even a good deal of retirement planning—would be unnecessary in most of Europe. Indeed, in a land without a social safety net, it behooves every person to be a miniature financial expert. Books like this do not exactly compensate for not having public healthcare. But I suppose it is better than nothing.
November 25, 2017
A very helpful guide written for young people - the younger you are when you read AND IMPLEMENT these financial strategies the easier and better.
It covers all the basics for a good start to handle your personal finances but even if you are reading this later in life it is great advice to turn things around and get control over your debt and how to save and invest.
Easy to read and understand - a must read for every young person. The sooner the better!!!
It covers all the basics for a good start to handle your personal finances but even if you are reading this later in life it is great advice to turn things around and get control over your debt and how to save and invest.
Easy to read and understand - a must read for every young person. The sooner the better!!!
March 28, 2021
I bought, but didn't read, a copy of Get a Financial Life a couple of years ago, when I was on a Personal Finance and Financial Independence reading kick (books and blogs). In September, I started using the budgeting software You Need a Budget, which has brought Personal Finance back to the forefront of my mind and I've been thinking about and reevaluating my financial priorities (more on YNAB in a sec). I spotted Get a Financial Life on my bookshelf last week and picked it up just to skim and ended up reading the whole thing. The book covers the basics of Personal Finance and contains sound advice regarding: debt, retirement, investing, banking, buying a home, insurance, and taxes. Even though I already follow, or am aware of, a lot of the recommendations in the book, I still thought it was a worthwhile read. And I'm glad to have a copy so I can refer back to specific chapters or sections in the future. The latest revised edition was published in 2017, so it's not too outdated. Kobliner's tone is matter-of-fact and direct, which I personally appreciated. If you're looking for something more motivational, try Worth It: Your Life, Your Money, Your Terms instead.
If there's one topic I wish Kobliner had discussed in more detail, it's budgeting. In Chapter 2: Taking Stock of Your Financial Life (Figuring Out Where You Are and Where You Want to Go), Kobliner discusses budgeting, goal setting, tracking your spending, some rules of thumb, her recommended filing system, etc. She recommends keeping a spending diary: "If you do this for only one month, you'll have a pretty clear picture of exactly where all your money goes." I've seen similar advice around the internet before, and I take issue with it for two reasons: [1] One month of spending data is just not going to give you a good overall picture of your spending habits and expenses. There are many variable expenses throughout the year that one month won't capture, like high electricity bills, annual subscriptions, car maintenance, etc. [2] Why would you waste a month tracking your spending, when you presumably have reams of spending data already captured in bank statements? I recently sat down with all my checking and credit card statements from 2019, categorized all the transactions (e.g. my dog, gas, groceries, etc.), summed each category to get annual totals, then divided by 12 to get monthly averages. Going through 24 statements took way less time than a 30-day spending diary would, and I got a lot more information to work with. It was also eye-opening because I realized I was spending much more on non-essentials (e.g. fast food, books, TV subscriptions) than I thought I was. Seeing the annual totals for some of those categories made me cringe with regret, because that’s money I could have used for travel or retirement savings. It also reminded me of a few infrequent expenses that I tend to forget about, like my car registration.
Tracking your spending is just Kobliner’s first step in figuring out where your money is going. The second step is creating a budget. Kobliner shares a budget worksheet in the book as well as a link to the budget calculator on her website. She also mentions the apps Mint and HelloWallet. I’ve never used Mint. I’ve read that it’s more helpful as a spending tracker than as a budget tool, but it’s free so it’s popular. I don’t know anything about HelloWallet, but Kobliner says it’s “a great tool that’s free if your employer provides it; otherwise, it will cost you $100 a year.”
For some people, tracking their spending on Mint, or filling out a budget worksheet, or creating their own budget spreadsheet is enough for them to plan and meet their financial goals. I am not one of those people. Due to the pandemic, my spending and expenses have changed drastically. I also have a lot of financial goals that I haven’t planned for or prioritized, and I’ve been increasingly frustrated with my lack of progress on meeting them. This frustration is what led me to try You Need a Budget (YNAB). YNAB is a zero-based budgeting system and I have found it extremely helpful and I highly recommend it. I was a bit surprised that Kobliner doesn’t mention it in her book because it seems to be very popular and have a cult-like following. There’s a bit of a learning curve, but after a couple of weeks, it *clicked* and I am 100% behind their budgeting philosophy now.
Some other apps that may be helpful, but Kobliner doesn’t mention, are Dave Ramsey’s EveryDollar, another zero-based budgeting app which is based on his cash envelope system; Personal Capital for retirement planning, tracking investments, etc.; and Undebt.it for paying off debt. There really are a multitude of budgeting systems and philosophies out there. I think that’s why I was disappointed with how little Kobliner discusses it. Her focus is more on tracking your spending (looking back) rather than actively budgeting (looking forward). Budget is a verb, not a noun - it should be an active and flexible process. I think for people in their 20’s and 30’s, understanding the importance of budgeting and finding a budgeting system that works for them should be a priority when setting up a "Financial Life."
Kobliner's lack of emphasis on budgeting was a bit disappointing, but the book as a whole and the advice in it are still valuable.
If there's one topic I wish Kobliner had discussed in more detail, it's budgeting. In Chapter 2: Taking Stock of Your Financial Life (Figuring Out Where You Are and Where You Want to Go), Kobliner discusses budgeting, goal setting, tracking your spending, some rules of thumb, her recommended filing system, etc. She recommends keeping a spending diary: "If you do this for only one month, you'll have a pretty clear picture of exactly where all your money goes." I've seen similar advice around the internet before, and I take issue with it for two reasons: [1] One month of spending data is just not going to give you a good overall picture of your spending habits and expenses. There are many variable expenses throughout the year that one month won't capture, like high electricity bills, annual subscriptions, car maintenance, etc. [2] Why would you waste a month tracking your spending, when you presumably have reams of spending data already captured in bank statements? I recently sat down with all my checking and credit card statements from 2019, categorized all the transactions (e.g. my dog, gas, groceries, etc.), summed each category to get annual totals, then divided by 12 to get monthly averages. Going through 24 statements took way less time than a 30-day spending diary would, and I got a lot more information to work with. It was also eye-opening because I realized I was spending much more on non-essentials (e.g. fast food, books, TV subscriptions) than I thought I was. Seeing the annual totals for some of those categories made me cringe with regret, because that’s money I could have used for travel or retirement savings. It also reminded me of a few infrequent expenses that I tend to forget about, like my car registration.
Tracking your spending is just Kobliner’s first step in figuring out where your money is going. The second step is creating a budget. Kobliner shares a budget worksheet in the book as well as a link to the budget calculator on her website. She also mentions the apps Mint and HelloWallet. I’ve never used Mint. I’ve read that it’s more helpful as a spending tracker than as a budget tool, but it’s free so it’s popular. I don’t know anything about HelloWallet, but Kobliner says it’s “a great tool that’s free if your employer provides it; otherwise, it will cost you $100 a year.”
For some people, tracking their spending on Mint, or filling out a budget worksheet, or creating their own budget spreadsheet is enough for them to plan and meet their financial goals. I am not one of those people. Due to the pandemic, my spending and expenses have changed drastically. I also have a lot of financial goals that I haven’t planned for or prioritized, and I’ve been increasingly frustrated with my lack of progress on meeting them. This frustration is what led me to try You Need a Budget (YNAB). YNAB is a zero-based budgeting system and I have found it extremely helpful and I highly recommend it. I was a bit surprised that Kobliner doesn’t mention it in her book because it seems to be very popular and have a cult-like following. There’s a bit of a learning curve, but after a couple of weeks, it *clicked* and I am 100% behind their budgeting philosophy now.
Some other apps that may be helpful, but Kobliner doesn’t mention, are Dave Ramsey’s EveryDollar, another zero-based budgeting app which is based on his cash envelope system; Personal Capital for retirement planning, tracking investments, etc.; and Undebt.it for paying off debt. There really are a multitude of budgeting systems and philosophies out there. I think that’s why I was disappointed with how little Kobliner discusses it. Her focus is more on tracking your spending (looking back) rather than actively budgeting (looking forward). Budget is a verb, not a noun - it should be an active and flexible process. I think for people in their 20’s and 30’s, understanding the importance of budgeting and finding a budgeting system that works for them should be a priority when setting up a "Financial Life."
Kobliner's lack of emphasis on budgeting was a bit disappointing, but the book as a whole and the advice in it are still valuable.
September 14, 2017
Quick review for a quick read. I think this is another very helpful resource for literature centering on personal finances and money management. This fourth edition of "Get A Financial Life: Personal Finance in Your Twenties and Thirties" cover a lot of ground - from navigating credit scores, credit card and various types of loans to investing in stocks and bonds, finding a bank institution that works for you, and addressing claims during tax filing. I found the work to be well organized, easy to flip through to get to the information I needed (so you could skip through the different sections if you needed to find what you wanted - in my case, I went from looking at credit to looking at savings, building an IRA, and options for buying a home since those are things I'm researching specifically.)
I originally checked this out as a library read, but I'm definitely making this book a part of my personal library. The terminology is well-defined, and the narrative gives very helpful tips and scenarios/examples pertinent to each topic. I was able to draw quite a bit of information in this read and would recommend it.
Overall score: 4/5 stars.
I originally checked this out as a library read, but I'm definitely making this book a part of my personal library. The terminology is well-defined, and the narrative gives very helpful tips and scenarios/examples pertinent to each topic. I was able to draw quite a bit of information in this read and would recommend it.
Overall score: 4/5 stars.
July 26, 2018
Honestly one of the best financial books I've read in the last few years. I've been reading this on and off for the last six weeks, part of a chapter here, a chapter there and it's been so helpful. It gives a nice overview of different financial advice that I think can be for all ages, not just 20's and 30's. There are chapters on debt, banking, investing, insurance, renting, home ownership, taxes, military benefits, etc. So I just skipped around and read the chapters relevant/interesting to me and I found it too be super helpful. The writing is easy to understand and I appreciate that each chapter is broken into smaller sections so it can easily be picked up and digested. Also the newest edition was released in 2017 so it's fairly current as of this review.
I'll probably buy a copy for my personal collection, I can see myself picking this up for advice in the future when I get to other financial stages of my life (owning my own home, hahahhahaha).
I'll probably buy a copy for my personal collection, I can see myself picking this up for advice in the future when I get to other financial stages of my life (owning my own home, hahahhahaha).
November 2, 2010
This book assumes its reader knows essentially nothing - nada - squadoosh - about finance, and manages to do so without assuming a condescending tone. And I like that. It actually made me feel like, hey, I already know some of this stuff. I am not a complete personal finance moron. (Hardly.) To me, the most helpful information was on the topics of investing, car loans and renting vs. owning, but Kobliner covers several other areas as well.
January 16, 2022
As someone whose parents made a series of poor financial decisions and were financially illiterate because their parents made a series of poor financial decisions and were financially illiterate- I decided that enough was enough and that isn’t a good enough excuse anymore. This book is a 10/10 must read for anyone who doesn’t even know where to start and has no idea what to do. While I am in no way a financial savant, I feel at least somewhat competent now and have put together a game plan for my financial future. Again, I can’t stress this enough, 10/10.
April 24, 2013
I first gave this a rating of 4 stars, but I have recently re-read portions of it, and decided to raise this to 5 stars. Actually, I feel very fortunate that I read this when I did, which was just dumb luck (I think I bought it at an airport bookstore when I was traveling once shortly after college, and bought it on a whim).
It's not that it's the best personal finance book ever written; there may be others that are as good or better. It's not that it is incredibly detailed; it just covers basic topics. However, it is comprehensive, and after reading this in my early twenties, it has enabled me to make smart financial decisions ever since.
Here are some of the important points that it covers:
* Which documents to throw away, and which to keep (and for how long).
* Why you should save, and why you should pay off high interest rate debt.
* What's the difference between stocks, bonds, and money markets.
* Why you should start saving for retirement as soon as you can.
* Why you should invest in mutual funds with the lowest fees (hint: compounding interest).
* Why index mutual funds outperform most actively managed funds (hint: low fees).
* What types of insurance you need, and what you don't.
* What to look for when getting a mortgage for a first house.
None of that is unique, but it's something every 20-something needs to know.
It's not that it's the best personal finance book ever written; there may be others that are as good or better. It's not that it is incredibly detailed; it just covers basic topics. However, it is comprehensive, and after reading this in my early twenties, it has enabled me to make smart financial decisions ever since.
Here are some of the important points that it covers:
* Which documents to throw away, and which to keep (and for how long).
* Why you should save, and why you should pay off high interest rate debt.
* What's the difference between stocks, bonds, and money markets.
* Why you should start saving for retirement as soon as you can.
* Why you should invest in mutual funds with the lowest fees (hint: compounding interest).
* Why index mutual funds outperform most actively managed funds (hint: low fees).
* What types of insurance you need, and what you don't.
* What to look for when getting a mortgage for a first house.
None of that is unique, but it's something every 20-something needs to know.
December 4, 2017
I've been reading a lot about personal finance recently and I really like this book. It covers all of the basics and this guide is really easy to understand and give you practical and good advise. I would highly recommend to people who are new to learning about personal finance, I'm probably going to pick this book up again to reread some sections (like investing and taxes). ~Ashley
January 6, 2020
A good book for people who don't know much about money management, investing, buying a house and all the other issues as one accumulates assets and liabilities. Less useful to the experienced but worth a fast read.
MY GRADE: C plus to B minus (higher for first-timers)
MY GRADE: C plus to B minus (higher for first-timers)
February 11, 2018
I'm torn between giving this a 4 and a 5, but I'll round up because I think EVERYONE SHOULD READ THIS.
Get A Financial Life is literally the textbook-that-reads-more-like-spark-notes to getting your finances in order as a young adult. Firstly, this book was released years ago, but just released an updated 2017 version so everything is 100% accurate (tho technically you can put $18500 into your 401k for 2018, up $500 from last year when this was released, but that's easily forgivable).
The first chapter is pretty much "I Need Help and I Need It Now" and it gives you a brief summary of everything in the book. Both so you can understand some of the steps this book can help you with and also get information to those people who don't have time to read, quickly.
I'll admit, this book can be a bit dry, but it's finance, it's hard to make it super interesting, especially if you aren't in the best place financially and would rather make minimum payments and call it a day. BUT this book doesn't use extra words or try to make this more complicated than it needs to be. It breaks down common vocabulary words, the steps you need to take, how to take those steps, and it's unbiased in all the options it provides. The sections are clearly marked and you can skim or just head to the portions that apply to where you are at. There are tons of graphs and charts with examples so you can see how some of the topics covered would actually play out. Every chapter closes with an FAQ section (that's actually helpful) and a "financial cramming" page that sums up what was in the chapter. At the end of the book there is a ton of resources for "additional reading" if any of the chapters really grabbed ahold of your interest.
Some of the major topics it covers is Debt (student loans, car loans, credit card debt, etc), Renting vs Buying - and how to do both (there's a ton of stuff on mortgages too, which I wish I read sooner), Insurance (car, life, health), and Investing (401k, IRAs, Bonds/Mutual Funds/Index Funds, etc etc). There's a few other chapters in there that are also helpful (even one on Military Benefits which doesn't apply to me, but I've literally never seen that in a general finance book before), but these are the big dogs that people in their 20-30s probably are dealing with.
I'm already past a few of these milestones, but I wish I read this 5 or 6 years ago, because I was a little late to the personal finance game. GIFT THIS TO ALL YOUR COLLEGE GRADUATES. But also maybe include some money, cause they read a lot in college already - give them some incentive, but also this book.
Get A Financial Life is literally the textbook-that-reads-more-like-spark-notes to getting your finances in order as a young adult. Firstly, this book was released years ago, but just released an updated 2017 version so everything is 100% accurate (tho technically you can put $18500 into your 401k for 2018, up $500 from last year when this was released, but that's easily forgivable).
The first chapter is pretty much "I Need Help and I Need It Now" and it gives you a brief summary of everything in the book. Both so you can understand some of the steps this book can help you with and also get information to those people who don't have time to read, quickly.
I'll admit, this book can be a bit dry, but it's finance, it's hard to make it super interesting, especially if you aren't in the best place financially and would rather make minimum payments and call it a day. BUT this book doesn't use extra words or try to make this more complicated than it needs to be. It breaks down common vocabulary words, the steps you need to take, how to take those steps, and it's unbiased in all the options it provides. The sections are clearly marked and you can skim or just head to the portions that apply to where you are at. There are tons of graphs and charts with examples so you can see how some of the topics covered would actually play out. Every chapter closes with an FAQ section (that's actually helpful) and a "financial cramming" page that sums up what was in the chapter. At the end of the book there is a ton of resources for "additional reading" if any of the chapters really grabbed ahold of your interest.
Some of the major topics it covers is Debt (student loans, car loans, credit card debt, etc), Renting vs Buying - and how to do both (there's a ton of stuff on mortgages too, which I wish I read sooner), Insurance (car, life, health), and Investing (401k, IRAs, Bonds/Mutual Funds/Index Funds, etc etc). There's a few other chapters in there that are also helpful (even one on Military Benefits which doesn't apply to me, but I've literally never seen that in a general finance book before), but these are the big dogs that people in their 20-30s probably are dealing with.
I'm already past a few of these milestones, but I wish I read this 5 or 6 years ago, because I was a little late to the personal finance game. GIFT THIS TO ALL YOUR COLLEGE GRADUATES. But also maybe include some money, cause they read a lot in college already - give them some incentive, but also this book.
July 8, 2020
All of the topics I was interested in were covered and then some- I only wish I was reading a newer edition and not this one from 1996.
Lick Review
Front Cover 5/10
Random Page 6/10
Lick Review
Front Cover 5/10
Random Page 6/10
May 14, 2022
Good book for beginners of personal finance!
April 10, 2018
Helpful and well laid out, but despite my efforts I was so bored. That wasn't Kobliner's fault, she did her best! The one thing I was confused by was that the book just ends, with no final wrap up.
Read
February 13, 2017This book was very informative and contained a lot of useful information. I definitely learned a lot. For example, it is better for someone my age (mid-twenties) to have disability insurance than life insurance. I had previously been thinking about purchasing a life insurance policy but after reading this book, I will instead look into disability insurance. Also, when the time comes, it will be better to have a life insurance policy for either my husband or I (whoever has the higher salary), rather than both of us. Previously, I believed we should look into life insurance for both of us, but it really isn't necessary at this stage in our lives and careers.
I also learned more about the hidden costs of purchasing a home and what a huge undertaking it is. I currently rent, and after reading this book, I anticipate continuing to rent for a long time. I have often heard people say, and believed it myself, that renting is simply throwing money away but now I no longer believe that to be the case. Owning a home is a very serious commitment and undertaking. After you pay all of the fees to close on the sale of a house, you have to pay to maintain it and pay property taxes, which can be quite costly. As of right now, if there is an issue with my apartment, I call my landlord and let them handle it. If someday my husband and I decide we would like more space, we will look into renting a house. After reading the chapter on mortgages, I am extremely cautious about buying a house. I am surprised at how lightly some people seem to take home-buying and the stigma that surrounds those who choose to rent.
The only thing I did not like about this book was that the information was a bit dated. Though I picked up the revised and updated version, I believe this book was originally published in 1996, when the economy was still booming. Some of the author's advice seems more appropriate for individuals coming of age in the pre-recession economy. Since the Great Recession, I believe that there has been a huge shift in how Millennials live and view the world. I feel that Millienials are shifting away from the more luxurious lifestyles our older counterparts aspire to and are happier with less. This book didn't discuss frugality or frugal living at all, which I think is going to become an essential way of life as the world continues to change. It mostly emphasized investments, which I think is great information, but perhaps information better suited to an older crowd. Though I personally invest in a SIMPLE IRA through my employer, I do not need to know a whole lot about investing right now. The author also doesn't give a lot of advice. She seems to be saying, "Here are the facts and the information you need to make a decision" but doesn't get much into advice.
Overall, I believe this is an essential read for young people. It gives young people a bigger picture, and provides a ton of information on topics that can seem boring or intimidating. I think the information laid out in this book is crucial for Millenials to understand, and I honestly wonder how many of us actually put in the time to truly know and understand our finances and how we should be planning for the future.
I also learned more about the hidden costs of purchasing a home and what a huge undertaking it is. I currently rent, and after reading this book, I anticipate continuing to rent for a long time. I have often heard people say, and believed it myself, that renting is simply throwing money away but now I no longer believe that to be the case. Owning a home is a very serious commitment and undertaking. After you pay all of the fees to close on the sale of a house, you have to pay to maintain it and pay property taxes, which can be quite costly. As of right now, if there is an issue with my apartment, I call my landlord and let them handle it. If someday my husband and I decide we would like more space, we will look into renting a house. After reading the chapter on mortgages, I am extremely cautious about buying a house. I am surprised at how lightly some people seem to take home-buying and the stigma that surrounds those who choose to rent.
The only thing I did not like about this book was that the information was a bit dated. Though I picked up the revised and updated version, I believe this book was originally published in 1996, when the economy was still booming. Some of the author's advice seems more appropriate for individuals coming of age in the pre-recession economy. Since the Great Recession, I believe that there has been a huge shift in how Millennials live and view the world. I feel that Millienials are shifting away from the more luxurious lifestyles our older counterparts aspire to and are happier with less. This book didn't discuss frugality or frugal living at all, which I think is going to become an essential way of life as the world continues to change. It mostly emphasized investments, which I think is great information, but perhaps information better suited to an older crowd. Though I personally invest in a SIMPLE IRA through my employer, I do not need to know a whole lot about investing right now. The author also doesn't give a lot of advice. She seems to be saying, "Here are the facts and the information you need to make a decision" but doesn't get much into advice.
Overall, I believe this is an essential read for young people. It gives young people a bigger picture, and provides a ton of information on topics that can seem boring or intimidating. I think the information laid out in this book is crucial for Millenials to understand, and I honestly wonder how many of us actually put in the time to truly know and understand our finances and how we should be planning for the future.
June 9, 2017
Practical knowledge explained in a simple, but not annoyingly simple, way. Helpful chapters on insurance and taxes, which other finance books I've read haven't covered.
May 23, 2014
Beth Kobliner's book is a great introduction to the most important financial topics that young people need to be considering as they move toward independence. For many young people, the importance of saving for retirement, or buying a house, or buying insurance is not immediately obvious, and Kobliner does a good job at introducing each of these topics without assuming any existing knowledge on the part of the reader. She also is very practical in her advice. The first chapter is basically the cliff notes version of the entire book for the "tl;dr" crowd, and she is not above recommending certain companies over others in (for example) the mutual funds chapter. The edition I read was about a decade old, so much of the contact info was probably incorrect (phone numbers and mailing addresses... those were the days), but this has likely been updated in the latest edition. Most of the advice is very relevant, as though the contact info has changed, the American financial world is largely the same. Several people over the years have recommended this book to me as a primer for basic financial literacy, and now that I've read it, I will likely in turn recommend it to my own friends who may be just moving out into the world in search of a Financial Life.
May 9, 2017
This book was everything that I had been looking for. I graduated from law school in 2015, and since then, I have been looking for someone/something to help me figure out how to manage my finances. I didn't understand how much money should go to loans vs. my savings account, and I wasn't sure what investments I should be making and how to prioritize all of my financial goals. This books lays it out in a very easy to read and follow way. The author addresses each section as it pertains to a variety of income levels. I would highly recommend you read this if you're trying to get control of your financial life. Also, make sure you pick up the edition released in 2017. The author updated it recently, and this version includes links to a lot of helpful online material.
June 17, 2019
As someone NOT from the US, I started this book with quite a large amount of apprehension. Now that I've finished it, I have to say it's not that bad after all. I get some good general advice on budgeting, saving and investing. and the chapters of US specific topics like tax, insurance and military benefits were read lightly for fun and understanding of my fellow r/personalfinance folks.
The style of the writing itself is quite dense and dry. I appreciate the efforts to make it relevant to younger people though. And I can't blame the style. I doubt anyone can make finance fun without having to write 10 books about it. This is a decent attempt, and one that I appreciate.
The style of the writing itself is quite dense and dry. I appreciate the efforts to make it relevant to younger people though. And I can't blame the style. I doubt anyone can make finance fun without having to write 10 books about it. This is a decent attempt, and one that I appreciate.
September 23, 2018
I did not finish this book. While some of the informational content was helpful, I did not agree with all of the advice and stopped maybe 1/4-1/3 of the way through. I don’t believe that everyone will “eventually” end up in debt and don’t think it’s smart to promote juggling credit cards for the best teaser rates. If you are looking to understand how loans, credit cards, interest rates, etc. function, then this would be a great, thorough resource. I just don’t think the advice in it is the best!
August 8, 2018
I'm probably a little smarter having read this. Still can't afford my student loan payments though.
February 11, 2018
The tricky thing with trying to get up to speed on personal finances is that you don't know what you don't know: Without some kind of pre- existing financial knowledge, it's hard to determine what you should research further. This book helps remedy the situation, as Kobliner gives a brief overview of financial topics you should know in your 20s and 30s.
I don't see this book as a comprehensive, turnkey guide, but rather a broad survey that will help you figure out where you need to do some deeper research independently. Because of the broad subject matter, some sections (and even whole chapters) may be remedial or simply not applicable to certain readers; for example, the chapter on military financial concerns was totally irrelevant to me personally.
Unlike many other popular financial guides, which are written by personality cult "experts" using the book to sell their other products, Kobliner keeps things objective and to the point. In fact, this book can be a little heavy on the dry tone and hypothetical calculations, and it can be hard to get through the longer chapters in one sitting due to the sheer amount of information she crams in. But I much prefer that to the breathy tone and fluffy content of other popular finance guides.
I would definitely recommend this book to any young people trying to get a handle on their finances, and it makes a great graduation gift. I'll likely buy a cheap copy for myself so I can use it to jog my memory on topics to look into. However, I will end this review by saying that you should get your hands on the most recent edition of this book possible — I read the 2017 version, and even that wasn't 100% up-to-date because of the tax bill that passed so recently.
I don't see this book as a comprehensive, turnkey guide, but rather a broad survey that will help you figure out where you need to do some deeper research independently. Because of the broad subject matter, some sections (and even whole chapters) may be remedial or simply not applicable to certain readers; for example, the chapter on military financial concerns was totally irrelevant to me personally.
Unlike many other popular financial guides, which are written by personality cult "experts" using the book to sell their other products, Kobliner keeps things objective and to the point. In fact, this book can be a little heavy on the dry tone and hypothetical calculations, and it can be hard to get through the longer chapters in one sitting due to the sheer amount of information she crams in. But I much prefer that to the breathy tone and fluffy content of other popular finance guides.
I would definitely recommend this book to any young people trying to get a handle on their finances, and it makes a great graduation gift. I'll likely buy a cheap copy for myself so I can use it to jog my memory on topics to look into. However, I will end this review by saying that you should get your hands on the most recent edition of this book possible — I read the 2017 version, and even that wasn't 100% up-to-date because of the tax bill that passed so recently.
November 7, 2017
This book was super informative. If you're in your late twenties and early thirties (like me), this covers everything you wanted to know about personal finance that is comprehensive and easy to understand.
This book is also super depressing. Yes, Kobliner gives you hope and the tools to change your future but still, it's pretty depressing if you are in your late twenties and early thirties (like me) and haven't done enough for retirement. I was stressed out most of the time I was reading this book. However, it did light a fire under my ass to take control of my life and readjust incorporating some of her suggestions.
I suggest this book to anyone between the ages of 25 to 35 and wants a better grasp on their finances. I warn you now, you will be depressed but once you move on to acceptance, you'll see her advice is sound.
Side note, there are HUNDREDS of acknowledgements in the back. It's bonkers.
This book is also super depressing. Yes, Kobliner gives you hope and the tools to change your future but still, it's pretty depressing if you are in your late twenties and early thirties (like me) and haven't done enough for retirement. I was stressed out most of the time I was reading this book. However, it did light a fire under my ass to take control of my life and readjust incorporating some of her suggestions.
I suggest this book to anyone between the ages of 25 to 35 and wants a better grasp on their finances. I warn you now, you will be depressed but once you move on to acceptance, you'll see her advice is sound.
Side note, there are HUNDREDS of acknowledgements in the back. It's bonkers.
February 1, 2019
Praise the lord for this book. If you're like me and you grew up in America, you'll know that few people receive a formal education in even the basics of financial literacy (thank capitalism--the more money confuses you, the more likely you are to spend it on financial services that you don't need, or to not put it in money-growing institutions at all). This book is your answer! I read the 2009 version, which has some outdated information, but the large majority of it is still solid, practical advice, written in a way anyone can understand. I highly recommend everyone read it.
December 16, 2017
Well, probably like most people, I don’t really like thinking about or reading about money because it usually feels stressful, or boring, or abstract. But I figured it’s important, and this was a very useful and read-able book which I’m glad to have read. Chapters included insurance, renting/buying a home, retirement, banking, taxes, etc. I got a better understanding of how some things work, and useful tips on things like avoiding credit fraud and saving for retirement. It’s a useful format with summaries, etc. It’s organized in such a way that you can read it all the way through (which is what I did) or just the relevant chapters. Recommended for anyone who wants to feel more in control of their financial life.
December 24, 2017
In general had some very good advice. I'm fortunate enough that my parents taught me most of it before reading the book!
But I did really enjoy the sections on investing, home buying, and on taxes. Those were the most useful to me.
But I did really enjoy the sections on investing, home buying, and on taxes. Those were the most useful to me.
December 31, 2018
Breezy read packed with tons of great info. Skimmed or passed over some sections less relevant to me. Looking forward to putting some of these steps into action!
June 4, 2019
Excellent coverage of the basic financial topics any young person needs to be familiar with including investing, debt management, taxes, insurance, and homeownership.
June 5, 2021
This was such a useful read - honestly one of the better finance books I’ve read! I especially appreciated the sections on home ownership, taxes, and investments. This book was easily digestible and I think (maybe??) I actually understand a bit more about taxes/investments than I did before reading this book. I checked an ebook out from the library but I am debating buying this for my personal collection. I know this was published in 2017 so I wonder if there is an updated version.
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