Time is on your side–smart money management for
Millennials
Smart is the New Rich: Money Guide for Millennials is an
interactive, step-by-step guide to all things money. From credit,
student debt, savings, investing, taxes, and mortgages, CNN’s chief
business correspondent Christine Romans shows this newest
generation of earners how to build wealth. You’ll learn the
old-fashioned approach that leads to a healthier financial
lifestyle, and open the door on a straightforward conversation
about earning, saving, spending, growing, and protecting your
money. You’ll learn how to invest in the stock market or buy a
home, even if you are still paying off student loan debt. Romans
offers expert insight on the ‘New Normal, ‘ and why the rules of the
credit bubble–the one you were raised in–no longer
apply. Checklists and quizzes help solidify your understanding, and
pave the way for you to start putting these new skills into
action.
For thirty years, the financial rules for life revolved around
abundant credit at the ready. A quick look around makes it obvious
that those rules no longer work, and Millennials just now coming of
age and entering the workforce need a new plan to build a solid
financial foundation and healthy money habits. This book puts you
on the right track, with step-by-step help and expert guidance.
* Learn what you should ask yourself before spending any
money
* Revisit some old money rules that are actually good habits
* See simple rules for managing student debt
* Learn how to talk about money with friends, dates, and
parents
* Find out what makes a Millennial successful in the
workforce
The economy is out of recession and growing, but many young
people feel left out of the recovery. It’s why smart spending,
saving, and debt management is so critical right now for them. A
smart money plan is no longer a ‘nice to have’ extra, it’s
mandatory. Smart is the New Rich: Money Guide for
Millennials is your guide on how to use time and some good
money manners to build wealth.
Daftar Isi
Preface xi
Acknowledgments xv
Chapter 1 How to Think About Money: Budgeting Basics 1
Pay Yourself First 6
How Much Should You Save? 8
The Rainy-Day Fund 12
Roadblocks to Money Success 15
The Holiday Red Flag 15
Your Money Quiz 16
Chapter 2 College Investment 19
The Million-Dollar Payoff 21
It’s Cheaper to Save Than Borrow 23
Four Ways to Keep College Costs Down 24
What Do You Want to Be When You Grow Up? 27
Not All Degrees Are Equal 31
Chapter 3 Managing Debt 37
Paying Off the Debt 39
Interest Rate Triage 42
A Safety Net for Low-Income Grads 43
Public Service Loan Forgiveness 45
Live Like a Student 45
Chapter 4 Job Market Fundamentals 49
The Long Healing Process 51
Fastest-Growing States 52
The College Degree Advantage 54
Chapter 5 Millennials at Work 59
Resume #Fail 64
You’ve Got Two Minutes 66
The Hidden Jobs Market 67
Don’t Call Them Soft Skills 70
Keep Your Eye on the Ball 72
Lean In or Lean Back 72
Online Tools to Help Set You Apart 77
Chapter 6 House Money 81
Missing the Real Estate Rebound…So Far 84
Generation Renter 86
Get Ready to Buy 89
Mortgage Rates 91
Location, Location, Location 92
Affordability 93
Living at Home 93
Chapter 7 Family Money 97
Dating and Money 99
The ‘Talk’ 102
What Kind of Debt? 104
Piggy Bank Parents 107
Friends and Finances 108
Crowdfund Our Wedding 109
Chapter 8 Understanding Investments 111
Getting Started: Tax-Advantaged Retirement Accounts 115
Time Is a Four-Letter Word 116
No 401(K)? Invest Anyway 120
Building Blocks 123
Chapter 9 Credit Karma 129
Debit Cards 130
Overdraft Protection 131
So You Want a Credit Card? 131
What Is the Credit Score? 133
Expensive Credit Monitoring 135
What Is the Fed? 137
Time to Buy a Car 138
Appendix A Web Resources 141
Appendix B Cover Letters: The Good, the Bad, and the Ugly 145
Appendix C Pay Scale 2014-2015 College Salary Report 153
Notes 193
About the Author 199
Index 201
Tentang Penulis
CHRISTINE ROMANS is CNN’S Chief Business Correspondent and anchor of Early Start with John Berman and Christine Romans weekdays 4 a.m. to 6 a.m. ET. She won an Emmy award for her work on the series ‘Exporting America’ about globalization and outsourcing American jobs overseas. She is the author of Smart is the New Rich: If You Can’t Afford It- Put It Down and How to Speak Money.
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