Budget Wednesday: Young, Fabulous and Broke

Another great book by financial guru, Suze Orman, is The Money Book for the Young, Fabulous and Broke. The pages are chock full of sound financial and budgeting advice, aimed specifically at those who find themselves, well, broke. A perfect gift for new college graduates! Below is a review from amazon.com:

If you are tired of struggling to make ends meet but don't know a 401(k) from Special K, this book is for you. Aimed specifically at "Generation Broke"--those in their twenties and thirties who are working yet buried in credit card debt and student loans--this user-friendly guide offers a clear introduction to practical investing and money management techniques that can turn even a dismal financial situation around. Bestselling author Suze Orman has a knack for taking the fear out of money matters, and in The Money Book for the Young, Fabulous &: Broke, she shows readers how to set priorities and achieve goals, whether it is to buy a house or save for retirement or pay for a child's education. She also offers inspiration to readers to face their financial problems and get started on a solution. After all, there is good news: young people still have the time to correct problems so that they will never be broke again. Readers who find terms such as diversification and IRA rollover scary--or worse, unimportant--will learn much from this book.

In these pages, Orman clearly and succinctly explains what a FICO score is and why it's so important, offers the lowdown on stocks and mutual funds, provides career advice, and offers lots of tips on dealing with student loan debt, saving money even when times are tight, debt consolidation strategies, and the safest way for newlyweds to merge their finances. She also offers information on credit cards, including why canceling cards is not a good idea, when it makes sense to use them, and the best strategies for paying them off. It may not be the only money book you'll ever need, but it's an excellent place to start. --Shawn Carkonen

To purchase this book from amazon, click here.