This review was written by CPF reader Christine Veloria.
I read What Everyone Should Know About Money Before They Enter THE REAL WORLD by Joseph Sangl. I wanted to read this book to see what types of information would be shared with someone that is not familiar with money before becoming independent. In my life I know some of the mistakes I have made regarding money and I realize if I had been taught about money and debt early on then maybe I would not have made some of the choices I have made. Now as a parent, I would like my children to learn about money before they enter the real world so hopefully they will avoid some of the mistakes I have made.
A great book for young adults!
I think this book is perfect for a young adult going out on their own or a high school student maybe in their junior year before deciding what to do about college. Mr. Sangl covers a wide variety of subjects that could help a young adult with the decisions they are going to have to make. He talks about how it is important to write down your goals and dreams because then they are more likely to happen. To plan where your money should go, a budget is a good tool so you can see where your money is going.
When you plan where you money is going it is easier to save and to give to charities that you want to support. There is a section on debt and how debt might be necessary for some purchases like a home but taking out too much can leave you stressed and feeling trapped. Maybe student loans are seen by some as necessary too but he suggests if it is possible to avoid student loans it is best to avoid them. He talks about credit scores and how to build a good score. To me one of the most important topics a young person can learn is how compound interest works, that is also in the book. There are also sections about buying a home and how discipline is important.
What Everyone Should Know About Money is only about eighty pages long and could easily be read in one sitting. I think it is a book that talks about the subject of money in an easy straight forward manner, which is not intimating. That is one of the things that I like about the book because it is more likely to appeal to someone who might not be too interested in learning about this subject but they know it is important information that they should know. It covers the basics in a short condensed book. I was thinking sometimes young adults might not what to hear some of this information from their parents and it might be better for them to read it from someone else.
Who the book is good for
I recommend this book to anyone that needs or wants to know about the basics of money. There are some good sections in the book for someone just starting out with money. I also strongly recommend the debt, college and compound interest sections for the high school student looking into going to college; this could help influence their decisions about college. Overall, I think it is a good book for someone who wants to start learning about money.