Get A Finacial Life by Beth Kobliner - Book review
Get a Financial Life
Personal Finance in Your Twenties and Thirties
By: Beth Kobliner
Published: March 2009
Format: Paperback, 352pp
Publisher: Simon & Schuster Adult Publishing Group
"If you're like a lot of people in their twenties and thirties, you're worried about money. And who can blame you?" write financial literacy expert and member of the President's Advisory Council on Financial Capability, Beth Kobliner in her very useful and no nonsense book Get a Financial Life: Personal Finance in Your Twenties and Thirties. The author presents practical and readily applicable finance primer for Millennials and younger Generation Xers, in a readable and comprehensive format, that will solve even the most perplexing financial issues.
Beth Kobliner understands that financial literacy is not widespread within the twenty and thirty-something age groups. This book bridges that knowledge gap with chapters covering every aspect of personal finance. The author shares her wisdom and advice freely to ensure that readers will both avoid the money traps that await the unwary, while also building personal wealth and financial security. The author covers all of the critical areas of finance for younger investors. The major topics included are:
* Insure yourself against financial ruin
* Pay off your debt the smart way
* Contribute to a tax-favored retirement plan
* Build emergency cushion with automatic savings plan
* Consider investment in stocks and bonds
* Find out your credit score and improve it
* Think about buying a house or apartment
* Get smart about income tax
Beth Kpbliner (photo left) doesn't suggest that a person use all of the recommendations at once. instead, the author points out the importance of creating and sticking to a personal financial plan with clear goals. One strong concept is the critical issue of getting out of debt. With so any recent graduates facing large student loan balances, getting out of debt, and remaining debt free creates a powerful head start in achieving financial independence. The repayment of debt, especially high interest rate debt, forms a very high rate of return on investment. With the economic situation taking its toll on 401k accounts, Beth Kobliner shares some asset building advice to maintain value in the account in any economy. The author also coaches her younger readers on how to save money for a down payment on a house, including new strategies for today's uncertain housing market. Beth Kobliner emphasizes saving money for the long term, reducing tax liability, and getting out of debt as priorities for people new to the work force.
For me, the power of the book is how Beth Kobliner shares valuable and timely financial advice in a very readable and approachable manner. She explains her reasoning for each money action in a step by step format, removing the mystery that so often surrounds financial information. The author starts with the basics, and then moves to more advanced material, as the reader becomes more comfortable working with money. All too often, parents and the educational system fail to prepare young people for the real world of money and financial obligations. This book eases the transition from money novice to becoming a person acquainted with debt reduction, credit scores, savings, insurance, mortgages, stocks and bonds, and the taxation system. The author doesn't force the reader to live like a pauper, but rather to take a responsible and long term approach to money management.
I highly recommend the concise and information packed book Get a Financial Life: Personal Finance in Your Twenties and Thirties by Beth Kobliner, to anyone in their twenties or thirties who is seeking to achieve financial freedom. This book will help you get out of debt, build your savings, start you on a solid road to the successful building of wealth. The advice presented in this book is so strong, that it can applied to the financial circumstances of people of any age group.
Read the essential book Get a Financial Life: Personal Finance in Your Twenties and Thirties by Beth Kobliner, and free yourself of the financial worries that are affecting your life and career. If you missed out on a financial education at school or at home, this book is a tremendous course in financial and money management to fill that knowledge gap completely. This book, if even part of the advice is followed, can change a person's life for the better.
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