I can’t believe it took me this long to read Broke Millennial: Stop Scraping By and Get Your Financial Life Together by Erin Lowry! It’s a great book–especially for people who are just starting to put together their financial know-how.
This is the book about personal finance I will give my younger sister for Christmas.
Unlike me, she does not find personal finance very exciting to read about, but she is at a point in her life she is interested in learning how to get better with money. Lowry breaks it down in fun (though occasionally gimmicky), clear ways. She has tons of research sources (both from published books and interviews) and honors the reality that everyone’s situation and goals are different. Many other personal finance books with her same audience (people in their 20s and early 30s) do not do as complete a job of addressing the details of credit cars, students loans, and budgeting strategies (along with other topics). It’s a great book by a great writer!
My only minor negative? The title. It kept me from reading the book/website for a long time because I’m just outside of the “millennial” age range (and have a lot of #feelings about the characteristics attributed to that group and media directed specifically for their consumption). But to be fair, I’m not a millennial, so I’m not really qualified to comment on the appeal of this book.
Every time I have come across Erin Lowry’s writing or video advice through another financial website, I admired her ability to frame complex financial steps in clear, palatable ways without diminishing or flattening the content. So while the name of her blog, Broke Millennial, made me hesitate, I couldn’t ignore the high quality of her work. Eventually, I gave the book a shot, and I’m so glad I did!
Lowry’s book reminds me in tone and comprehensiveness to my own first educational text about personal finance, The Motley Fool: You Have More Than You Think – The Foolish Guide to Personal Finance, which I wrote about in my Reading Recommendations page.
If you feel like you want to know more about personal finance for young adults or have a millennial in your life that you love (looking at you parents of teens, teachers, etc.), read this book. Heck, even if you just love a good story or two, Lowry’s vignettes from her childhood and discussions of merging her finances with her partner are worth it! I even learned a bit about some of the more recent info about student loans and post-recession-recovery banking regulations.
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