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Personal Finance in Your 20s For Dummies
Personal Finance in Your 20s For Dummies (9780470769058) is now being published as Personal Finance in Your 20s For Dummies (9781119293583). While this version features an older Dummies cover and design, the content is the same as the new release and should not be considered a different product.
The easy way to avoid early pitfalls on the road to financial success A little money and a little time is all that's needed to lay a strong financial foundation for today and the future. And starting sooner rather than later is the smartest thing you can do when it comes to protecting your financial future. If you're in college or enjoying your twenties, Personal Finance in Your 20s For Dummies cuts to the chase, providing you with the targeted financial advice you need to establish a firm financial footing as you work your way through school and the post-graduation years. If you're looking for sound, reliable advice on how to make smart financial choices in the real world, Personal Finance in Your 20s For Dummies has you covered.
The easy way to avoid early pitfalls on the road to financial success A little money and a little time is all that's needed to lay a strong financial foundation for today and the future. And starting sooner rather than later is the smartest thing you can do when it comes to protecting your financial future. If you're in college or enjoying your twenties, Personal Finance in Your 20s For Dummies cuts to the chase, providing you with the targeted financial advice you need to establish a firm financial footing as you work your way through school and the post-graduation years. If you're looking for sound, reliable advice on how to make smart financial choices in the real world, Personal Finance in Your 20s For Dummies has you covered.
264 pages, Paperback
First published December 14, 2010
39 people are currently reading
551 people want to read
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Displaying 1 - 29 of 29 reviews
June 22, 2012
THE PROS (such as they are):
As a crash course in personal finance, this book is passable. The structure is sensible, so it's easy to find what you're looking for and skip what you don't need. Unlike some of the other reviews, I didn't find the tone dry or dull -- a little patronizing, sure, but not soporific.
The advice in the initial chapters is pretty rudimentary -- pay your credit card bill in full every month, compare fees before opening a bank account, etc. I'd hope that most people know these things by the time they hit their 20s and enter the job market, but for a sophisticated high schooler or a financially dense college student, this is a decent breakdown of how to not screw up your finances before you've even gotten started.
The sections about more complicated matters (buying a house, investing, retirement accounts) are clear but cursory and generally conclude by suggesting one of the author's other books. People who are seriously concerned about these things, rather than remotely curious, aren't likely to find this book helpful.
THE BIG CON:
Here's the catch: considering that this book is geared specifically toward people in their 20s, Eric Tyson seems woefully ignorant of his audience. Here's what I'd consider some important characteristics of many people in their early- to mid-20s, as relevant to financial planning (this is not an exhaustive list):
By contrast, here's what Tyson seems to think is the defining feature of people in their 20s:
This book is basically an abridged version of Personal Finance for Dummies, working off the premise that ventigenarians have the same financial concerns as older adults. The process of buying a house gets a whole chapter, while student loans get two (useless) sentences. Readers are constantly urged to consult with their employers about retirement plan options -- never mind the fact that many (most?) people in their 20s are unemployed, do not have jobs with benefits, and/or are not planning to stay at their current job. The chapter about health insurance provides decent advice that is entirely useless if you don't have employer coverage (or a spouse with it), or the funds to buy private insurance. These are not insurmountable obstacles, but they're common to many Americans in their 20s and there's nothing in this book about how to navigate them.
So, if you're an immature adult with a short attention span and a remarkable lack of financial savvy, here's the book for you! If you're 23 years old and have a) landed a high-five-figure dream job with benefits in a community where you'd like to stay put and raise a family, and/or b)come into a windfall that you would like to manage and invest, without even the most basic financial background, this may be a helpful place to start. But if you're a typical recent college grad who wants to make smart financial decisions in spite of short resources and unstable employment prospects, give this one a pass (and let me know if you find anything better).
As a crash course in personal finance, this book is passable. The structure is sensible, so it's easy to find what you're looking for and skip what you don't need. Unlike some of the other reviews, I didn't find the tone dry or dull -- a little patronizing, sure, but not soporific.
The advice in the initial chapters is pretty rudimentary -- pay your credit card bill in full every month, compare fees before opening a bank account, etc. I'd hope that most people know these things by the time they hit their 20s and enter the job market, but for a sophisticated high schooler or a financially dense college student, this is a decent breakdown of how to not screw up your finances before you've even gotten started.
The sections about more complicated matters (buying a house, investing, retirement accounts) are clear but cursory and generally conclude by suggesting one of the author's other books. People who are seriously concerned about these things, rather than remotely curious, aren't likely to find this book helpful.
THE BIG CON:
Here's the catch: considering that this book is geared specifically toward people in their 20s, Eric Tyson seems woefully ignorant of his audience. Here's what I'd consider some important characteristics of many people in their early- to mid-20s, as relevant to financial planning (this is not an exhaustive list):
- unemployed, underemployed, doing an un(der)paid internship, not employed in their field of choice, ineligible for good benefits, and/or looking at some major job changes before settling into a more stable career track
- carrying some major student loans, if they've been to college
- considering further education (college or a graduate degree) in the near future
- short on assets, living on little, and uninterested in -- or unable to afford -- steps like putting money in a retirement account or investing, let alone buying property or starting a business
By contrast, here's what Tyson seems to think is the defining feature of people in their 20s:
- attention span too short to sit through the entirety of his book Personal Finance for Dummies
This book is basically an abridged version of Personal Finance for Dummies, working off the premise that ventigenarians have the same financial concerns as older adults. The process of buying a house gets a whole chapter, while student loans get two (useless) sentences. Readers are constantly urged to consult with their employers about retirement plan options -- never mind the fact that many (most?) people in their 20s are unemployed, do not have jobs with benefits, and/or are not planning to stay at their current job. The chapter about health insurance provides decent advice that is entirely useless if you don't have employer coverage (or a spouse with it), or the funds to buy private insurance. These are not insurmountable obstacles, but they're common to many Americans in their 20s and there's nothing in this book about how to navigate them.
So, if you're an immature adult with a short attention span and a remarkable lack of financial savvy, here's the book for you! If you're 23 years old and have a) landed a high-five-figure dream job with benefits in a community where you'd like to stay put and raise a family, and/or b)come into a windfall that you would like to manage and invest, without even the most basic financial background, this may be a helpful place to start. But if you're a typical recent college grad who wants to make smart financial decisions in spite of short resources and unstable employment prospects, give this one a pass (and let me know if you find anything better).
December 24, 2011
I did learn some things about investing and IRAs, but sometimes the author is very condescending. An example is in a chapter on how to save money on your cellphone: "Last but not least, be safe with your cellphone, especially when driving, and don't hold your cellphone to your ear when talking because of long-term concerns about the radiation emitted from these phones." Okay, sure, I won't hold the phone up to my ear when I use it--wait, huh? What does any of this have to do with finance anyway? And, often, the advice given about finance is logical, but impractical. Take this example in a chapter about getting health insurance: "If you have a preexisting condition [that is making it difficult to get health insurance on your own], find a job with an employer whose health insurer doesn't require a medical exam." Oh, sure, just let me up and do that in these uncertain economic times. On a positive note, the chapter on Roth IRAs was useful. It gave me a general overview of the whole process in layman's terms--something even the "experts" at my bank were unable to do.
If you are pretty sure that you are doing everything right and have a good grip on your finances, this book will help reassure you that you are well on your way to financial success. If, however, you are like most of the country and struggling with an ever-increasing cost of living in spite of a downturn in economic growth, this book will most likely leave you with a sense of hopelessness.
In short, this is a book for kids who are financially fresh and unmarred, blinking in the sunlight of an optimistic future full of possibility. Ah, it must be nice.
If you are pretty sure that you are doing everything right and have a good grip on your finances, this book will help reassure you that you are well on your way to financial success. If, however, you are like most of the country and struggling with an ever-increasing cost of living in spite of a downturn in economic growth, this book will most likely leave you with a sense of hopelessness.
In short, this is a book for kids who are financially fresh and unmarred, blinking in the sunlight of an optimistic future full of possibility. Ah, it must be nice.
January 17, 2017
Would've been a very good read, if I lived in the States
While this book does contain practical tips for managing personal finance, a significant part of it is only applicable for people living in the US. Also most of the content is just general financial advices not really tailored for people in their 20s. Still, I would recommend this book for those starting on their personal finance.
While this book does contain practical tips for managing personal finance, a significant part of it is only applicable for people living in the US. Also most of the content is just general financial advices not really tailored for people in their 20s. Still, I would recommend this book for those starting on their personal finance.
December 11, 2013
This is a great book for introductory to managing personal finances. It discusses many things I did and did not know. As for the things I know it helped fine tune details I may have not known to look for... Like what to look for in different insurance paperwork.
March 17, 2013
Didn't tell me a whole lot that I didn't already know, and the tone was a little condescending, but it did have some useful overview information.
August 7, 2018
Very US based, if you have read any other books in this series, the advice is pretty similar, no need to double up
April 2, 2023
This book is super helpful for beginners!
I got this book originally because I realized I didn’t know how to be smart with my money and I wanted to increase my financial literacy.
The author breaks big concepts down into bite sized sections, and makes it easy to understand.
After reading this book I changed the way I budget and use my credit card, started a retirement savings account, started investing, and overall feel much more empowered in my personal finances.
My only complaint is it got a bit repetitive about halfway through, so I bailed out around page 188.
I got this book originally because I realized I didn’t know how to be smart with my money and I wanted to increase my financial literacy.
The author breaks big concepts down into bite sized sections, and makes it easy to understand.
After reading this book I changed the way I budget and use my credit card, started a retirement savings account, started investing, and overall feel much more empowered in my personal finances.
My only complaint is it got a bit repetitive about halfway through, so I bailed out around page 188.
September 30, 2024
This book helped ease some anxiety that I had surrounding debt and gave me a good basic rundown of personal finances and tips I should know. It also had useful information and websites to look further into. Titan recommended this and let me borrow it. A quick and helpful read. Only 4 stars since the copy I read was from 2010 and possibly a tad outdated.
August 7, 2017
A semi-generic, mostly useful financial reference book.
June 6, 2018
Very basic :)), need another book out there which teach me an advanced procedure to manage my financial stuff smartly
March 23, 2020
sách rất hay và bổ ích. 10 điểm cho chất lượng
This entire review has been hidden because of spoilers.
November 9, 2022
Reasonably good advice, even if a bit obvious/lackluster.
August 29, 2022
Although the book gives some ideas on balancing income-payment ratio, it is a very local book, especially the subjects on insurance, banking and taxes. Also, it's nearly impossible to apply saving methodologies during this hyperinflation climate of Turkey. Also, it investigates the management of the debts, having consistency on economics and making investments, on just a framework basis. It is still a good start to follow your financial health. / Gelir-gider dengesini kurmak konusunda bazı fikirler vermesine karşın sigorta, bankacılık ve vergilendirmeyle ilgili konularda oldukça yerel kalmış bir kitap olduğunu söyleyebilirim. Birikim yapma metodlarını da Türkiyedeki mevcut hiperenflasyon ikliminde uygulamak imkansıza yakın. Borçları yönetmek ve yatırım yapabilecek ekonomik istikrara gelmek konuları da bence biraz geniş çerçeveden incelenmiş. Yine de finansal sağlığınızı hiç takip etmiyorsanız, iyi bir başlangıç noktası olabilir.
August 31, 2016
Eh. It had some good chapters that were really relevant to me and my situation at the moment but then there were some chapters that were not (like the car buying one). This was good however because it is a condensed version of his much larger "Personal Finance for Dummies" book so everything was really simple and easy to understand (exactly how I like it!) and is a good reference book to have on your bookshelf just to check or verify things but if you want a finance book to go more in depth I'd do some more searching because this is not it. But if you want bare bones of what to do and what not to do in your twenties, this is (kinda) the book for you.
April 18, 2012
It has the very basic facts that you should know about personal finance, but doesn't go into enough detail to really be helpful. It is a very boring read (and i usually enjoy personal finance books. He simply recites facts with no interesting stories or illustrations to make it personal. He completely misses the emotional aspect of managing your personal finances.
July 10, 2014
Having read many finance books before and having a finance major in college, I didn't learn anything new from this book. However, if you don't know much about finances this could be the book for you!
July 31, 2015
This book is incredibly informative as far as the tools, concepts, jargon and implementation of those concepts. The material itself is not very entertaining, so it's a struggle to get through but the value of the information is priceless. The struggle is well worth the effort in this case
July 19, 2012
Outstanding book. To the point and filled with specific advice. Only wish I had read it when I was even younger.
August 20, 2013
this book was a great resource for me with regards to car buying and introductory retirement planning...sure!
October 17, 2013
Good book, not too long, with a lot of useful information. I thought that 'your money the missing manual' was marginally better in terms of retirement and investment advice though.
May 5, 2014
É bom na medida que te deixa a pensar sobre o teu futuro financeiro.
July 1, 2014
Meh. I think this would be better suited for 16-18 year olds maybe? I don't want to assume that all twenty-somethings already know this stuff, but I think most do.
July 8, 2016
Great! Have highlighted some parts which I will re-read again in the future :)
October 29, 2016
Great with simple, clear advice!
April 8, 2020
A fairly superficial introduction introduction into personal finance for those just entering the workforce.
December 6, 2019
İçerik Türkçe ama bilgiler Türkiye'yi kapsamıyor. Ancak ABD'de falan yaşamayı düşünen gençler alabilir. Aldığıma pişman oldum. Kişisel finansı bu kitabı almayarak başlatabilirdim. :)
dropped
March 21, 2011sumthing out of ordinary........
September 20, 2014
more of the same stuff just slapped a different tittle on it!
Read
February 20, 2019Was somewhat useful. The first five and last three chapters were the best for me
Displaying 1 - 29 of 29 reviews