The Wall Street Journal Guide to Understanding Personal Finance

by Kenneth M. Morris, Virginia B. Morris

A comprehensive new edition includes updated coverage of such topics as credit scoring, college saving plans, the Hope Scholarship, and the latest tax rules, in a volume complemented by four-color graphics and easy-to-read charts. Original. 125,000 first printing.

Genres: Finance, Nonfiction, Reference, Business, Personal Finance, Self Help, Money

176 pages, Paperback

First published September 25, 1992

Reviews

[John Ryan · Rating 3 out of 5]

Tremendous book for those starting out to learn personal finances, although dated. The book covers the basics of banking, credit, buying a home, financial planning, making investments, and a review of taxes. While some of the numbers are dated, the information is sound and laid out in an easy-to-understand basis.

The charts and lay out of the pages of this book are outstanding. Everything is set forward to make it easy to digest, action oriented to allow people to make good decisions without too much detail, and said in a way that is not demeaning even though this book is clearly for people just trying to figure out financial issues.

The portion of the book reviewing stocks was very helpful, even outlining what to look for, the meaning of certain terms, and outlining load and no-load mutual fund differences. It’s good the authors highlighted fees since many people never see those fees that can eat away on someone’s balance.

It might have been useful for the book to get into more details about retirement and 401’s, outline the power of money over a period of time, and urge people to always take advantage of an employer match. Yet, the information is so good, so simple, and helpful, it’s hard to complain about this book.

This is not a book for people who have the fundamentals of personal finances, home ownership, investing, and retirement savings. It is aimed at someone learning and wanting to get the basics down pat.

[Juneko Robinson · Rating 4 out of 5]

I bought this book back when I was in my 20s. Although there was much that I already knew, there were some areas that I needed brushing up on. This guide was quick, to the point, very easy to understand, fun to read, and it provided some eye candy to boot. Now I've outgrown this book. Despite this, however, I continue to hang on to this book. Although there are some things that are a bit dated (explanations of ATMs, which were relatively new back in the early 90s), it's still a pretty good primer. Perhaps I'll pass it on to my 18 year old niece.

[Sarah Rigg · Rating 3 out of 5]

A solid place to start if you need beginner's guidance on personal finance, banking, budgeting, etc.

[L · Rating 2 out of 5]

I am so totally illiterate about personal finance. Huge revelation: "National standards for mortgage loans are set by Fannie Mae (or FNMA), the Federal National Mortgage Association. Together with Freddie Mac, the Federal Home Loan Mortgage Corporation, they buy mortgages from banks for resale in the secondary market. As a result, the banks conform strictly to their guidelines." I had no clue those were acronyms, but it makes a lot more sense why we were all paying so much attention to them.

[Troy Kuhn · Rating 5 out of 5]

A must for any household that wants to get a quick overview of various every day financial products such as taxes, investing, etc.

[Josh · Rating 3 out of 5]

Good for those who know very little about personal finance.

[Anita]

Maybe not this book, but my kids should learn about this topic before they leave home.

[Heidi · Rating 4 out of 5]

Easy to read and lots of explanations of those mysteries of the financial word.

[Jean Grant · Rating 4 out of 5]

This book doesn't cover what I thought it did. I had wanted budgeting, ideas to make sense of the way financial planners talk, but got none of that.

[Jamie Clegg · Rating 3 out of 5]

It's illustrated, so. Can't be that difficult to understand.

[J Crossley · Rating 2 out of 5]

This book had a lot of information in it. However, it seems outdated now.