Financial Literacy for Young Adults Simplified: Discover How to Manage, Save, and Invest Money to Build a Secure & Independent Future

by Raman Keane

Do you have an emergency fund? Have you started planning for retirement yet? Do you have enough income left over every month after you’ve made your minimum debt repayments? If your answer is no, then you’re in the same boat as many other young adults. The thing is, young adults are especially financially vulnerable because they’re just starting out, want a lot of “stuff,” and are not earning the big bucks yet. So, they’re borrowing too much and saving too little (if at all) and they’re in a financial mess. But it doesn’t have to be like that. It isn’t your fate to constantly be in financial difficulties that keep you tossing and turning when you should be having a restful night’s sleep. Instead, imagine a life where you have peace of mind because your financial affairs are in order and you’re on the right path to building wealth. The trick is to develop the right money mindset so you can start controlling your money instead of letting your money control you . Sure, it takes a little time and effort in the beginning, but the reward is lifelong financial security. In this guide, here is just a fraction of what you’ll And much more. Whether you’re a student working a part-time job, or you’re working the 9 to 5 grind and trying to save for a down payment on your first house, this guide will give you the information you need to get your finances in order. It’s not difficult to be financially secure or independent -- you just need a bit of self-discipline and the right strategies to get there. Even Warren Buffett says you don’t have to be a genius to build wealth – "There seems to be some perverse human characteristic that likes to make easy things difficult." If you have the right tools and information, you’ll sail through economic downturns and rising inflation. You won’t even panic if you lose your day job.

Genres: Nonfiction, Self Help, Finance

150 pages, Paperback

Published July 4, 2023

Reviews

[Martina Litty]

This book has good advice about credit and budgeting (though the author seems a bit naive about how much rent costs these days). I wrote down a few of the author's suggestions for budgeting and managing/improving credit. However, there were a lot of "Oh, that's not the way," moments in this book. The suggestions to start one's own business are vague and borderline misleading. The advice for young adults regarding investing in bitcoin and other cryptocurrency is borderline irresponsible. There is also a disappointing promotion of exploitation in the name of "passive income," especially exploitation of the global south (example: drop-shipping). I can't speak to whether or not the information about stocks was accurate; in the future I would like to read a more comprehensive book/article about that subject.

[Aliyah Davis · Rating 3 out of 5]

useful information then BOOM cryptocurrency lobbying

[Lauren Bachman · Rating 2 out of 5]

Overall rating: 2.25/5 stars

I read this because some of my students are reading this for a book club and I wanted to check out the type of advice it gives since I also host financial literacy lessons for my students. This started out okay with some basic info on the importance of financial literacy and the necessity of emergency funds and the like, but there became just too many things that didn't set well with me as I read on. To be fair, I think this is a decent enough book for young adults despite it being generally undetailed and elementary. However, there were a few things in here that are not my approach to finances and not what I would teach the average student.

Firstly, I can appreciate the insights on budgeting and how it can be an important tool for people who struggle with overspending. However, I felt the description does not align with how I view budgets. This book seemed to approach them as a limiting factor, even quoting that the most important part of having a budget is not going over it. Yes, one must absolutely know their fixed costs and ensure they have the funds to pay them, but I prefer to think of money in terms of freedom, not limitation. Ramit Sethi has a great take on "budgets" but he calls them conscious spending plans and states that you should be aware of where your money is going, but don't let certain pre-set categories limit you from spending your money as you wish. I also think tracking every dollar sets them up to, again, focus on the wrong things when their vision is so granular. I'd hate for young adults to start their money journey with feelings of restriction instead of opportunity.

Secondly, it mentions that credit cards should be used only when absolutely necessary. This directly negates what I teach students about building credit and responsible credit use. They can be educated on the risks of credit card debt but also encouraged to use credit cards to their benefit. I think this book missed a big chunk of knowledge here.

My next point is kind of weird, but it suggested using royalty earnings as an additional stream of income. I know that's a real thing, but what young adult just starting in the personal finance world is parlaying in royalties?

My last concern is how this book addressed investing. I'm not sure if this was intended, but there's a little bit of negative language around 401k and the S&P 500 specifically. If I didn't know better as a beginner I'd think I shouldn't be investing in those, but again, that's not the case.

Overall this was okay but not a resource I'd readily recommend to young adults. I feel there are much better sources I'd direct them to instead (Ramit Sethi, Tori Dunlap, & Bogleheads to name a few).

[Ray · Rating 5 out of 5]

If Shakespeare had written about finance, this would be it.

Before reading Financial Literacy for Young Adults Simplified, I was a financial disaster. I bought avocado toast on a credit card. Now I look at my bank account and thank Raman Keane.

Raman Keane didn’t just write a book, he created life. Page after page, I floated into a new realm of money hierarchy. I know the difference between good debt and bad debt. I learned to not max out my credit card.

The Amazon review QR code jump scare in chapter 6 was appropriate as it followed some of the best advice I have ever read. "Don't apply for new debt" said by Keane. This line stuck with my beyond the pages.

This book should be a prerequisite to register as a finance class at a university. It should come printed on the back of cereal boxes. There should be a national holiday where we all reread Chapter 10 and learn to direct our investments into crypto.

Since finishing it, I’ve started five side hustles, built an emergency fund ($100), and used my part time employment money to buy Bitcoin.

[Swapna Peri ( Book Reviews Cafe ) · Rating 5 out of 5]

"Financial Literacy for Young Adults Simplified: Discover How to Manage, Save, and Invest Money to Build a Secure & Independent Future" by Raman Keane, aimed at helping young adults achieve financial independence

. The book covers various topics related to personal finance, including managing money, saving, and investing. The book also provides practical advice and tips for building financial security without having to give up everything.

Some of the key takeaways from the book include:
1.10 money habits that will put you on the path to financial security
2. Practical ways to invest in your future
3. Recommendations for becoming financially secure in life

Overall, "Financial Literacy for Young Adults Simplified" is a useful resource for young adults who want to learn how to manage their money and build a secure financial future.

.

[Maddy Mattingly · Rating 5 out of 5]

I thought this book was extremely helpful. It made me reevaluate my budgeting plan and add an emergency fund that I now believe everyone needs. I really sat and took the time to looked through my spending and weed out my own problems. I always felt like I was a good saver but I would still buy things that I didn’t truly need. This book got me excited to genuinely start saving better, managing my money better, and looking into a better future. I think it also helped me think about other incomes that I want to look into. It explained terms that I had heard of but didn’t really understand. I would definitely recommend you read this book.

[Lindsay Jump · Rating 5 out of 5]

I love this book so much - this book is something I am going to read over and over again at different times in my life. There is sooo much information in this book but it’s such an easy and quick read. I loved learning about the different savings accounts, student loans, and how to create more income for yourself. Highly recommend this read to anyone looking to learn about financial literacy - regardless of your age or how long you’ve been saving!

[DeWayne Dorsey · Rating 5 out of 5]

This book has a lot of helpful information. information that not everyone learns in time. How to earn, manage, and think about your finances goes a long way into the kind of life that you live. Highly recommended read

[Book Girly · Rating 4 out of 5]

awesome beginner book to learn about personal finance!! such an important topic that isn’t formally taught in school most places so this is an amazing book that every young adult should read!

let’s get financially literate team🙌🏽

[Stephanie Young · Rating 4 out of 5]

I read this before passing along to my son who is graduating high school this year and off to college in the fall.
It’s a pretty basic concept book but if a quick an easy read for young adults preparing to be on their own financially.

[Nichelle Celestain · Rating 5 out of 5]

Great book for anyone needing a simplified understanding of finances

[yui · Rating 4 out of 5]

Not very detailed, but great for a beginner and gave me many ideas for me to research more.

[Alec McKenna · Rating 5 out of 5]

I found the book simple to follow and a great book to read when you’re starting to sort out your finances. I did not feel overwhelmed or behind on its message.

[Kate Swetz · Rating 4 out of 5]

Super easy read. Very basic information but it was all broken down well and easy to understand. A good beginners guide to finances.