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The money lessons you wish you'd learned in school
Personal Finance in Your 20s & 30s For Dummies helps Millennials and Zoomers like you make smart financial moves. It's not as tough as it looks to reduce and file your taxes, pay off your student debt, buy a home, keep a budget to save and invest wisely, or start that side hustle, just to name a few. With a little bit of focus, you can start a clear path to financial freedom and avoid mistakes today. Your future self will thank you.
This edition is full of updates for the 2020s; wrap your mind around your investment opportunities, the realities of making a second income, higher ed options for career advancement, and lessons learned from the COVID-19 pandemic. If you're in need of financial guidance--and who isn't?--this is the book you need.
Pay off loans, manage your credit, begin the home-buying journey, and more
Set realistic money goals so you can create a solid path for financial success
Make smart decisions to beef up your bank account and investment portfolio
Protect the money you have today and learn how to put your money to work for the future
Get ready to turn up the volume on your financial know-how and stop worrying about money!
Autorentext
Eric Tyson, MBA, is a bestselling personal finance author, counselor, and writer. He is the author of the national bestselling financial books Investing For Dummies, Personal Finance For Dummies, and Home Buying Kit For Dummies.
Klappentext
Up your money game with this simple guide
Money: the one absolute necessity that we literally can't afford to ignore. Turns out, it's easy to master all that financial stuff, from budgeting and reducing taxes to investing and buying a house. This book will walk you through itno worries. Whatever your current situation, you've come to the right place for painless, get-going knowledge that will turbo-charge your net worth. With this guide, you can make sense of tax laws, start that side-hustle, repay student loans, or plan for the future. Trust us, you've got this.
Inside. . .
Zusammenfassung
The money lessons you wish you'd learned in school
Personal Finance in Your 20s & 30s For Dummies helps Millennials and Zoomers like you make smart financial moves. It's not as tough as it looks to reduce and file your taxes, pay off your student debt, buy a home, keep a budget to save and invest wisely, or start that side hustle, just to name a few. With a little bit of focus, you can start a clear path to financial freedom and avoid mistakes today. Your future self will thank you.
This edition is full of updates for the 2020s; wrap your mind around your investment opportunities, the realities of making a second income, higher ed options for career advancement, and lessons learned from the COVID-19 pandemic. If you're in need of financial guidanceand who isn't?this is the book you need.
Inhalt
Introduction 1
About This Book 1
Foolish Assumptions 2
Icons Used in This Book 3
Beyond the Book 3
Where to Go from Here 3
Part 1: Getting Started with Personal Finance 5
Chapter 1: Your Financial Checkup 7
Calculating Your Financial Worth 8
Defining net worth 8
Figuring what you own: Financial assets 8
Determining what you owe: Financial liabilities 9
Netting the difference 10
Grasping the Importance of Your Savings Rate 10
Calculating your income and outgo 11
Assessing the change in your net worth 11
Understanding and Improving Your Credit Score 13
Deciphering how lenders use credit reports and scores 13
Obtaining your credit reports and fixing errors 14
Getting your credit score 15
Improving your credit reports and score 15
Comprehending Your Investment Options 16
Examining Insurance Coverage 17
Identifying Common Financial Mistakes Young Adults Make 18
Chapter 2: Budgeting, Goal Setting, and Valuing Saving 21
Developing a Savings Mindset 22
What It's Worth: Valuing Savings over Time 24
The power of continual savings 24
The rewards of earning a (slightly) higher annual return on your investment 25
Budgeting and Boosting Your Savings 26
Setting and Prioritizing Your Savings Goals 28
Identifying common goals of accomplished savers 28
Valuing retirement accounts and financial independence 29
Dealing with competing goals 30
Saving When You're Strapped 31
Chapter 3: Using Loans and Paying Down Debts 33
Eyeing the Causes of Generational Debt 34
Making the Most of Loans 35
Dealing With Student-Loan Debt 36
Tracking your student loans and making timely payments 36
Prioritizing the payback of student loans 37
Using education tax breaks 38
Weighing the costs and benefits of education expenditures 39
Making the most of student loans, grants, and other financial aid 40
Benefits for military people 41
Paying Off Consumer Debt 41
Kicking the credit-card habit 42
Discovering debit cards: Convenience without credit temptation 42
Lowering the interest rate on consumer debt 44
Negotiating better rates from your current credit card 44
Tapping investments to reduce consumer debt 45
Paying down balances 45
Getting Help for Extreme Debt 46
Seeking counseling 46
Considering bankruptcy 47
Preventing Consumer Debt Relapses 50
Chapter 4: Everything Credit: Scores and Reports 51
A Primer on Credit Reports and Credit Scores 52
Differentiating between credit reports and credit scores 52
Understanding how credit scores are determined 53
Valuing of a good credit score 55
Jump-starting your credit score as a young adult 55
Getting Your Hands on Your Credit Reports and Scores 56
Recommended websites for free credit scores 57
Websites to avoid 57
Scrutinizing Your Credit Reports to Improve Them 58
Identifying errors and getting them fixed 58
Boosting your credit score 59
Preventing Identity Theft 60
Part 2: Saving and Earning More 65
Chapter 5: Proven Ways to Spend Less and Save More 67
Containing Housing Costs 68
Reducing rental costs 68
Slicing homeowner expenses 71
Cutting Your Taxes 72
Managing Food and Restaurant Spending 73
Trimming Transportation Expenses 75
Finessing Fashion Finances 76
Relaxing on a Budget 78 Taming Technology Spending 79</p>...