Scan barcode
A review by xmkq
Smart and Simple Financial Strategies for Busy People by Jane Bryant Quinn
"Smart and Simple Financial Strategies for Busy People" is a good comprehensive general overview of personal finances in life. It introduces most of the types of financial accounts and products one needs to be aware of.
Quinn recommends making a list of all your bank accounts, debts, insurance, retirement accounts, college savings, brokerage house or mutual fund accounts, real estate holdings, and other investments, along with their current values. The list doesn't stop here, though--next to each item, Quinn recommends, "write down why you own it". This helps ensure that the account is in line with your goals, and helps jog the memory when it comes time to make modifications to the account.
The basic recommendations in the book (each get a chapter), are:
* be aware of your spending and saving, and have a "Cushion Fund" for unforeseen circumstances
* pay off any debt (car, home, and college possibly excepted)
* have the right insurance, including life and disability if you have dependants
* buy a house with a simple fixed-rate or variable mortgage
* save for children's college as soon a possible
* invest in target retirement or index mutual funds
Other themes include automating as much of your financial responsibilities as possible, including automated bill pay and savings contributions, and choosing simple offerings over complex financial instruments.
Quinn recommends making a list of all your bank accounts, debts, insurance, retirement accounts, college savings, brokerage house or mutual fund accounts, real estate holdings, and other investments, along with their current values. The list doesn't stop here, though--next to each item, Quinn recommends, "write down why you own it". This helps ensure that the account is in line with your goals, and helps jog the memory when it comes time to make modifications to the account.
The basic recommendations in the book (each get a chapter), are:
* be aware of your spending and saving, and have a "Cushion Fund" for unforeseen circumstances
* pay off any debt (car, home, and college possibly excepted)
* have the right insurance, including life and disability if you have dependants
* buy a house with a simple fixed-rate or variable mortgage
* save for children's college as soon a possible
* invest in target retirement or index mutual funds
Other themes include automating as much of your financial responsibilities as possible, including automated bill pay and savings contributions, and choosing simple offerings over complex financial instruments.