First, what she covers is based on interviews with hundreds of young working people. She’s not recycling the same tired “work hard, save six months of living expenses, and pay off all your debt” tips that litters hundreds of financial advice books and columns. Ms. Orman understands that this generation faces money challenges no other group has seen, and the old rules are no longer helpful many more people are setting up companies and seeing companies house
than ever before and the old job rules dont apply with the normal modern work force.Everything is laid out in simple sections dedicated to a single concept. The core concepts, like knowing your FICO score, are woven throughout the book. This makes it easy to jump to whatever topic is laying heavy on your mind when you buy it.And the advice truly is different. Ms. Orman doesn’t tell you to avoid credit cards altogether, especially if you need them to cover basic living expenses early in your career. She is truly in favor of this if it helps minimize the risk of changing over to a more fulfilling profession. But, you have to know the difference between needs like groceries and gas and avoidable purchases such as expensive clothes or meals out.Retirement is another topic she dedicates a lot of time to. Knowing that it’s hard for young workers to think ahead to old age with large debts hanging over them, Ms. Orman explains why basic steps need to be taken. At a minimum, you are advised not to turn down a 401k if your company matches your dollars, because that’s free money.
She also covers big ticket purchases, like cars and homes. Her housing advice is particularly welcome, since younger generations cannot count on living in any companies house. There are a lot of mortgage traps to avoid, as well as a caution against treating your home like a credit card. Finally, love and finances are touched on. These are hard conversations to have, but building solid relationships depends on it.
Ms. Orman’s book is a clear and concise financial life guide. If you’ve ever been confused about how to grow your money in sync with your career, this may be your economic bible.