Posted by Jill Boynton on August 27, 2013
I recently came across a good financial planning book for young adults. “Coin”, by Judy McNary, goes over the basics of money management from learning to live within your means to paying off debt. It is geared towards the recent college graduate who is now out on their own for the first time, but could be useful for college students too. The book starts with a discussion on goal-setting and the merit of establishing an emergency fund. Two chapters are devoted to debt – credit card and student loans included – and other topics include figuring out what you can afford for housing and transportation and our favorite topic, retirement (it’s never too early to start saving!) There is even a section about income taxes.
Written in a way to appeal to twenty somethings without talking down to them, McNary gives sound advice that will start one down the path to a strong financial future.
I gave the book to a 24 year-old I know, and these were her comments:
“It was witty and clever. It connects to my generation without trying too hard. I like the fact that the book is interactive and has you fill out information to inform you of your debt and expenses as you're reading the book. The book was really easy to understand. She broke down difficult information into easy to understand language without dumbing it down to the point of making me feel stupid. I also really like in her language choice - how she uses references from my generation. For example, she threw in a funny fact about muggles from Harry Potter. That made me laugh.
It was a good book. Quick read which I liked because it doesn't take too much out of your time, easy to understand, fun, interactive, connects to the audience and above all really made me think as I was reading about my spending, expenses and the right and wrong choices I'm making with my money.”