I don t know anything about Suze Orman, other than seeing her name mentioned occasionally in financial magazines and articles I found out that this was one of her most popular books, so I thought I d give it a try.This book is meant as a financial handbook for twenty and thirty somethings, who Orman calls the Young, Fabulous, and Broke I probably would have gotten out of the book, and rated it higher, if I was broke and wasn t already somewhat familiar with the topics she covers Each of the 10 chapters focuses on some financial topic These are 1 FICO score2 career3 credit4 student debt5 saving6 retirement7 investing8 car9 home10 money and relationshipsEach chapter opens with a few pages of explanation and advice, followed by specific questions and answers The advice is good, but nothing groundbreaking I much prefer I Will Teach You To Be Rich.NotesContribute to a 401k only if you get a company match If you don t get a match, do a Roth IRA instead.Set up an emergency fund that covers 6 months of expenses.Mutual fund fee structures1 A share you pay sales commission when you buy2 B share you pay sales commission when you sell, if held for less than a certain amount of time usually 5 years High expense ratio.3 No load No fee to buy or sell, no matter when you sellBuy only no load mutual funds, based on these criteria 1 expenses2 performance over 3 10 years, within its fund categoryFunds to use for 401k or Roth IRA 1st choice85% total market index fund15% foreign stock fund 2nd choice60% SP 500 fund15% mid cap10% small cap15% foreign 3rd choice30% large growth30% large value15% mid cap15% foreign10% small capIf you wouldn t buy a stock that you hold today, then sell it.Don t invest money that you need in less than 5 years in stocks Use CDs or money markets instead.Review your 401k and Roth IRA funds twice a year to ensure that they re performing above average for their fund categories.Don t buy bonds until you re 40 or 45.Use index funds, not ETFs, for dollar cost averaging.Car insuranceDeductibles 1000 Bodily injury 100,000 person, 300,000 accidentProperty damage 50,000It s better to pay off a 30 year mortgage early than starting with a 15 year mortgage, because events in your life may prevent you from making the higher payments of a 15 year People first Then money Then things Use a Living Revocable Trust and Durable Power of Attorney documents instead of a will. The edition I have is a bit outdated, and not everything applied to me, but this book was simple and straightforward and I feel that I have a better and general understanding of all thing a financial I would say it s a must read for millennials of all ages. I know it sounds like a total snoozefest, and to be honest I wasn t really thinking I was going to love this book either But it caught my eye at the library one day because the jacket cover said Suze wasn t going to give a lot of the advice that I dreaded encountering Save 8 months expenses, etc etc and a slew of other things 20 somethings living in New York typically just can t do So, I thought I d give it a shot, and what better time than when I m stuck on an airplane for a couple of hours By the time I landed in Pittsburgh on June 30, I was already halfway through the book and had shoved half a dozen makeshift bookmarks into the pages I found most relevant to my situation Here are the things I loved about the book 1 The book is narrated in a very casual voice, so it s a quick read Any and all financial terms are explained simply and none of it seemed over my head 2 Suze takes into consideration many different 20 something financial starting points are you buried in credit card and or student loan debt Have you paid off debts, but you can t save anything Are you trying to wrap your head around your 401 k Do you want to know what it s going to take to get approved for a Mortgage How about investing in stocks or buying a car Do you live with a boyfriend girlfriend fiance Whether you need all of this advice or only some of it, it s a great reference to hang onto for a few years I just skimmed the stuff about cars and houses for future reference, but I read the sections on paying off debt, contributing to my retirement fund, and saving up in detail, for example 3 The book really isn t preachy except for the stuff about 401 k s, but that advice is pretty warranted, so just take it with a grain of salt It helps break down your goals from the point you are at right now, so getting on a better foot financially won t seem like too big of a problem for anyone to tackle 4 Suze Orman s website has a YFB section that accompanies the book, and the book has call outs to point out web tools that can help you with that particular problem Also, with a special code from the book, you can sign up for a free account wherein you can create your own targeted financial action plan, and read message boards full of advice from Suze and other YFBers 5 It was published in 2005, so it is still pretty relevant. No matter what you think of Suze Orman, you don t know how great she is until you read one of her money books This one should be read by every college graduate It begins on the basic side with FICO scores and credit cards bills, and progresses into first time homebuying and such I unfortunately did not read it until I had been out of college for a while, but I have found it to be immensely helpful Orman s advice is practical, easy to take action on, and is laid out in an easy to understand, simple way in this book.Hopefully high schools will get it together sometime soon to teach financial skills while kids are still in high school and before they get themselves into credit card debt and other financial trouble Deep financial debt is, in my opinion, an unnecessary epidemic that is not being properly addressed at an early enough age for most Kids also need to know the difference between good debt like educational loans and bad debt like credit card abuse this is something that Orman addresses in detail in this book, among many other things. The Money Book For The Young, Fabulous Broke Is Financial Expert Suze Orman S Answer To A Generation S Cry For Help They Re Called Generation Debt And Generation Broke By The Media People In Their Twenties And Thirties Who Graduate College With A Mountain Of Student Loan Debt And Are Stuck With One Of The Weakest Job Markets In Recent History The Goals Of Their Parents Generation Buy A House, Support A Family, Send Kids To College, Retire In Style Seem Absurdly, Depressingly Out Of Reach They Live Off Their Credit Cards, May Or May Not Have Health Insurance, And Come Up So Far Short At The End Of The Month That The Idea Of Saving Money Is A Joke This Generation Has It Tough, Without A Doubt, But They Re Also Painfully Aware Of The Urgent Need To Take Matters Into Their Own Hands The Money Book Was Written To Address The Specific Financial Reality That Faces Young People Today And Offers A Set Of Real, Not Impossible, Solutions To The Problems At Hand And The Problems Ahead Concisely, Pragmatically, And Without A Whiff Of Condescension, Suze Orman Tells Her Young, Fabulous Broke Readers Precisely What Actions To Take And Why Throughout These Pages, There Are Icons That Direct Readers To A Special YFB Domain On Suze S Website That Offers Specialized Information, Forms, And Interactive Tools That Further Customize The Information In The Book Her Advice At Times Bucks Conventional Wisdom Did She Just Say Use Your Credit Card And May Even Seem Counterintuitive Pay Into A Retirement Fund Even Though Your Credit Card Debt Is Killing You , But It S Her Honesty, Understanding, And Uncanny Ability To Anticipate The Needs Of Her Readers That Has Made Her The Most Trusted Financial Expert Of Her DayOver The Course Of Ten Chapters That Can Be Consulted Methodically, Step By Step, Or On A Strictly Need To Know Basis, Suze Takes The Reader Past Broke To A Secure Place Where They Ll Never Have To Worry About Revisiting Broke Again And She Begins The Journey With A Bit Of Overwhelmingly Good News Yes, There Really Is Good News Young People Have The Greatest Asset Of All On Their Side Time Suze has won me over I m almost complete and she is really speaking to me Retirement Rules chapter 6 is just wonderful I logged onto her website and filled out my goals and started her action plan I like that she only gives you the first step and when you finish that step you can go back online and move onto the next step Feels very do able to get the steps one at a time instead of seeing all the dauting tasks at once She also gives you notes that pertain to you based on how you answer the questionnaire Very nice.Chapters 4 5 about credit and saving put me off a bit I should have picked up this book 5 years ago as good portion of the advice is geared towards single, college grads or young couples that need to refocus there life and finances and boy could I have used this then I m still in my twenties, married 6 years with 2 kids and our share of financial woes which we learned and changed a lot in that unfortunate process I will keep reading in case there are some important tidbits I should not miss and I would definitely recommend this book to those I think it s suited for I m interested in reading Suze s spiritual guide to stop worrying next. we ve recently become devotes of suze ormond so when her book came out we bought it the money book for the young, fabulous and broke is actually really damned helpful sure, there were some stupid tips like put off getting your hair cut two weeks get it cut every 8 weeks instead of 6 not helpful dude i cut my hair at home the part that i found most valuable was the section on retirement she explained what the hell an ira vs a roth ira vs a 401k vs a 403b is it was amazing sure, i haven t yet actually reallocated my funds because the webbernet likes to fuck me when i m doing that but at least now i ll have a guide when i do decide to reallocate we also learned a good tip about trying to pay down our credit card debt we ve tried other things that haven t worked, so now we re going to try her advice and see what happens of course the next few months will be hard if we do really decide to move cash advance to pay our downpayment, anyone but moving will be best for our finances in the medium run i digress anyway suze s awesome you should buy this book and watch her show on saturdays on whatever cnbcmoney channel it s on. As a YFB er I found this book condescending and some of the advice to be questionable I ve read a number of her books, and much prefer the financial advice of Dave Ramsey Suze is over focused on the FICO score, and she talks in generalities about how to manage money She laughs at the idea of a budget for the YFB ers , who obviously cannot be bothered with such tedious things. This book is dated, but still contains some good information on getting started with your financial life As a person who has been lifelong frugal, I am terrified my kids will fall in love with someone who has terrible personal finances Suze Orman says, If a person doesn t respect money, they will not respect you I ve tested this theory on people I know and it appears to be true I will remember that for later on. I know Suze is really cheesy on television And in truth she s really cheesy in print as well But the information is an awesome starting point for someone who s a beginner at personal finance.