Budgeting for a new home may require you to access a down payment assistance program. There are several options that require repayment while others offer grants that you do not have to pay back.
Financial Must Reads For You Twenty Somethings
11 Personal Finance Books Everyone Should Read Before Turning 30
When it comes to understanding how to handle money, figuring out where to start can be fairly overwhelming. Walk into any Barnes and Noble store and you'll find hundreds of titles offering advice on how to spend it, save it, make more of it, and keep what you have from disappearing.But not all advice is created equal. When you're in your 20s, you want easy-to-read books that will teach you the foundations of investing, the best way to budget for major purchases down the road, and how to finally pay off those student loans.To help narrow down the choices and find the best advice, we reached out to personal finance experts and authors to find out which foundational books everyone should read before turning 30.
"The Millionaire Next Door" by Thomas J. Stanley and William D. Danko
Why it's great for young people:"'The Millionaire Next Door' is great for people in their 20s because it talks about the basics of personal finance," says Rob Gough, co-founder and president of Eckim (DefinitiveDeals.com, CouponChad.com). With simple, commonsense lessons like "spend less than you earn," "avoid buying status objects," and "diversify your investments," the book helps readers develop good habits from the very beginning.
"The Investment Answer" by Daniel Goldie and Gordon Murray
Why it's great for young people:"Investing is an important part of personal finance for everybody, but most people hate reading about investing," says David Welliver, editor of MoneyUnder30.com. "This brief, easy-to-read book is the most approachable investing book I've come across. There are plenty of other good investing books for those that want to get their hands dirty, but for anybody who doesn't, this is the book to read."
"I Will Teach You To Be Rich" by Ramit Sethi
Why it's great for young people:"'I Will Teach You To Be Rich' is hands down the BEST book out there for the younger generation," says "J. Money" from RockstarFinance.com. "It’s funny, educational, and full of exact 'how tos.' And a super easy one at that — which anyone with A.D.D. can appreciate (like me!)."
"Thinking, Fast and Slow" by Daniel Kahneman
Why it's great for young people:"Personal finance is really nothing but a series of decisions," says Meg Marco, executive editor of Consumerist. "'Thinking, Fast and Slow' will help readers understand what drives them to make the choices they make," she says, and allows them "access to insights about how the brain works, which can have a profound effect on the decision-making process."
"The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich" by David Bach
Why it's great for young people:"I really appreciate how specific David gets in the book and how simple he keeps the message," writes Philip Taylor at PTMoney. "I’d recommend 'The Automatic Millionaire' to anyone looking for some practical application on simplifying their finances and leaving behind, forever, any excuse for not saving."
"You're So Money: Live Rich, Even When You're Not" by Farnoosh Torabi
Why it's great for young people:Torabi's book is funny, concise, and tackles the issues college grads are mostly likely to come across in their first few years handling their own finances. More importantly, says John Ulzheimer, a credit expert at CreditSesame.com, "You're So Money" "was written by someone who is actually IN the personal finance space and not just someone who churns out books, so she actually understands the things about which she writes."
"Debt-Free by 30: Practical Advice for the Young, Broke, and Upwardly Mobile" by Jason Anthony and Karl Cluck
Why it's great for young people:"'Debt-Free By 30' covers the basics of prioritizing your debt, finding extra money to pay it down faster and handling situations in which you might be tempted to rack up more debt," writes Erin Burt at Kiplinger. "Methodically paying off your credit cards may not sound sexy, but this book will make you a believer and give you the tools to pull it off."
"The Money Book for the Young, Fabulous & Broke" by Suze Orman
Why it's great for young people:"Most personal finance books seem to be written with the about-to-retire set in mind," writes Geoffrey James at Inc. "In this sprightly offering, TV star Suze Orman helps millennials navigate the basics of the financial world, like coping with huge student loans and a job market that, for young people, is nearly as dismal as the Great Depression."
"The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money" by Carl Richards
Why it's great for young people:Using simple, funny situations any young person can relate to, "'The Behavior Gap' lays out why we make bad decisions with our money," says Motley Fool columnist Morgan Housel, "and offers easy tips and suggestions on how to change our behavior."
"The Psychology of Investing" by John Nofsinger
Why it's great for young people:Starting to invest — and invest smartly — right out of college "is one of the fastest ways to obtain financial independence and maintain your standard of living in retirement," says Victor Ricciardi, a finance professor at Goucher College. To make sure his students understand the basics, Ricciardi teaches "The Psychology of Investing" in his behavioral finance course, "and my students definitely enjoy it," he says.
"Generation Debt: Take Control of Your Money" by Carmen Wong Ulrich
Why it's great for young people:Kimberly Palmer, senior editor for U.S. News & World Report, recommends "Generation Debt" for 20-somethings "because it lays out how to overcome debt" and how to map out "an overall spending plan to create a healthy and stable financial life."
Now that you've mastered your finances...
Read more: http://www.businessinsider.com/personal-finance-books-to-read-before-30-2014-2?op=1#ixzz2sxA5EzEj
As a Full Time real estate agent for the past 23 years, Sheryll has helped hundreds of home owners in Colorado buy and sell their homes. Sheryll's easy going, no pressure style and her in depth knowl....