The Wall Street Journal. Guide to Starting Your Financial Life

by Karen Blumenthal

Your Road to Lifelong Financial Independence

It’s about time you felt empowered to better manage your money because–in tough economic times more than ever–your financial freedom depends on making smart choices. But it’s hard to know where to begin, especially when you’re just starting out. And of course, it only gets more complicated as you go through How do you establish good credit? Do you buy or rent? What kinds of health coverage do you really need? How do you actually stay afloat in an uncertain market?

The Wall Street Journal Guide to Starting Your Financial Life gets you off on the right financial foot, from tackling everyday choices like cell-phone plans and pet ownership to big decisions such as smart investment strategies and buying a car or a house. You’ll

• How to open your first checking and savings accounts, get your first credit card, and establish good credit
• The ins and outs of starting a job, including information about taxes, choosing health insurance options, and saving for retirement
• How to budget for big purchases and expenses, such as paying off student loans, buying a car, and affording your housing
• Strategies for buying the little things you want and need without going broke
• The basics of investing, how to manage an inheritance, and the documents you need to protect your assets

This valuable resource puts you in the driver’s seat, so you will be in control of your money and on your way to achieving lifelong financial independence across any economic terrain.

Genres: Finance, Money, Business, Personal Finance

336 pages, Paperback

First published January 1, 2009

About the author

Karen Blumenthal is a critically acclaimed author of narrative nonfiction for young people, who is fascinated by controversial subjects and social change. Her books include Steve Jobs: The Man Who Thought Different; Tommy: The Gun that Changed America; Hillary Rodham Clinton: A Woman Living History, and Let Me Play: The Story of Title IX. Her books have won a Sibert Honor and a Jane Addams Children's Book award and have been a finalist for YALSA's Excellence in Nonfiction for Young Adults award three times. She lives in Dallas, where Roe v. Wade originated. For more information, go to www.karenblumenthal.com.

Reviews

[Kelli J · Rating 4 out of 5]

I tend to read a lot of financial books, they’re a weird guilty pleasure for me. I grabbed this not knowing what it could teach me that I didn’t already read elsewhere—turns out quite a bit. And I definitely wouldn’t consider myself to be “starting out” financially anymore. But it’s always nice to have a simple explanation of some daunting topics, especially stocks and bonds. The investing section of this book is a great intro for anybody new to the language and wanting to learn more! Would recommend to anyone—just starting out or that thinks they know all there is to know.

[Maggie · Rating 4 out of 5]

This was a really good baseline starter for financial literacy -- some things I already knew, some stuff I didn't, and a good general overview of many varied topics. Though no matter how much I read about it, I still do not understand the stock market LOL.

[Alex Gregory · Rating 3 out of 5]

A simple and straightforward financial primer for young adults, Guide to Starting Your Successful Life doesn't exactly do anything original or notable with its source material, and only provides basic explanations of financial concepts and steps people can take to manage their money better...

...and that's part of the problem. Despite having a similar layout to its source newspaper, the material is very simplistic and below the standards and thoroughness of its predecessor, coming across more as a cash-in than anything else. While I appreciated some of the material on various differences between credit limits and taxables, investing and saving for retirement (along with NOT investing in real estate given current market conditions), make no mistake: this is highly U.S.-centric information which is inapplicable to a majority of the world.

There's also a lot of frivolous material relating to spending money effectively. Do I really need to know (or care) how much to tip? Or how much I should pay for a gym membership? There are a lot of little asides like this that have little to do with money management and more to do with common sense, ostensibly to pad out the book. That said, it's a decent read for anyone getting into finance for the first time.

[Paul Sidwell · Rating 3 out of 5]

A good primer full of basic information on all topics financial. Great gift for high school kids planning their financial future! I think I will have each of my children read this book, and then I will review it with them bit by bit to ensure they have grasped the concepts. They may teach me something too!

[Caitlin · Rating 2 out of 5]

I try to read one financial book a year to keep me update and refreshed. This is a good beginners book, but I guess I was looking for an intermediate reference. No matter, I am keeping the book and will use it as a quick reference text with a finincial question. I prefered "Smart Women Finish Rich" over this book.

[Víctor · Rating 4 out of 5]

This book won't give you the answers to all your questions, but it will give you a good starting point to understand the basics of personal finances. As the author mentions, this book focuses on the most important things you need to know.

[Eric · Rating 3 out of 5]

Good book for 20-30 year olds just starting out either in college as independent from their parents, or just after having graduated. Some of the information will be overly basic to individuals more experienced with finances.

[Carly Authement · Rating 5 out of 5]

One of the better personal finance books I have come across. Very easy to understand, chalked full of helpful information, and written in a style that is less preachy than other personal finance books.

[Lukasz · Rating 4 out of 5]

A great primer about finances in America. This book is especially helpful to college students or recent grads who need help in understanding how to manage your money. It's also a great reference for different life decisions regarding money: insurance, buying a car or house, investing etc.

[Chirag · Rating 4 out of 5]

Basic and good illustrations

[Kerri · Rating 2 out of 5]

Extremely basic, overviews of various financial topics and issues.