Idiot's Guides - Personal Finance in Your 20s & 30s by Fisher, Sarah Young -- Read -- Imperial Library of Trantor

Index

Cover Title Page Copyright Page Contents Introduction Part 1: Your Financial Foundation

1 Your Financial Base

Understanding Personal Finance Evaluating Where You Are Determining Your Net Worth Looking for Hidden Financial Assets

Accounts Mutual Funds Stocks (Equities) Bonds Emergency Money

Protecting Your Financial Base

401(k) Plans Compound Interest Lower Interest Rates The Best Possible Bank Accounts A Budget Learning Opportunities

2 Choosing the Right Bank Accounts

Do You Have the Accounts You Need?

Checking Accounts Savings Accounts Money Market Accounts Certificates of Deposit

All Banks Are Not Created Equal

Commercial Banks Credit Unions Thrifts

Banking Online Versus Online Banking Beware of Bank Fees

Overdraft Fees ATM Fees

3 Budgeting Your Living Costs

Why Budgets Have Such a Bad Rep Everybody Needs a Budget What Your Budget Should Include

Nonroutine Expenses Routine Expenses

Trimming the Fat: Analyzing Your Expenses

Fixed Versus Variable Expenses Nondiscretionary Versus Discretionary Expenses Spending Ratios

One Job, Two Jobs, Three Jobs, Four … Sticking with It Budgeting Websites Budgeting Apps

Part 2: Building Your Credit

4 Your Credit History, Report, and Score

Building Your Credit History

When Enough Is Enough When to Get Help

Your All-Important Credit Score

Why Your Score Matters How Your FICO Score Is Determined Getting a Copy of Your Credit Report

5 Finding the Best Credit Cards

The Invention of Credit Cards Getting a Card Cosigners and Secured Cards How Many Cards Should You Have? Types of Cards

Charge Cards Fixed-Rate Cards Variable-Rate Cards Elite Cards Rewards Cards Prepaid Cards

Understanding Annual Fees Other Fees to Watch For

Late Fees Cash Advance Fees Discretionary Fees Credit Limit Increase Fees Copy Fees Account Reopening Fees One-Time Processing Fees

Making Sense of Interest Paying Down Your Balance

6 The Truth About Credit Card Debt

Resisting the Urge to Spend, Spend, Spend

Knowing When to Use Your Card Sometimes Cash (or Debit) Is King

Understanding Credit Card Debt Getting to a $0 Balance Credit Counseling, Debt Settlement, and Bankruptcy

Credit Counseling Debt Settlement Bankruptcy

Credit Card Safety

Safety Tips Electronic Safety Tips

Part 3: Paying Off Your Student Loans and Debt

7 Student Loan Debt and Costs of Education

Types of Student Loans Determining How Much You Owe Paying Off Your Student Loans Does a Graduate Degree Makes Sense for You?

8 Debt Consolidation and Payback Options

How Much Debt Do You Have? Paying Off Bills, One at a Time Transferring Credit Card Balances Alternatives to Balance Transfers Refinancing Loans Considering Debt Consolidation

Part 4: Your Money and Your Career

9 Employed, Unemployed, Underemployed

The Ups and Downs of the Job Market Are You Employed, Unemployed, or Underemployed? Exploring Your Options

Asking for a Raise Looking for Another Job Staying Where You Are

10 Employer-Sponsored Benefits

What Are Employer-Sponsored Benefits? The Real Cost of Hiring You Employer-Provided Health Plans Employer-Sponsored Retirement Plans Other Retirement Plan Options

11 Surviving on Unemployment

The History of Unemployment Compensation Accessing Unemployment Compensation If You’re Denied Benefits or Your Benefits End Stretching Your Compensation Dollars Staying in the Game While You’re Unemployed Finding Job-Hunting Help

Part 5: Your Savings

12 Cutting Costs

Spending in America Housing Costs

Utilities TV, Internet, and Phone Insurance and Taxes Refinancing Your Mortgage

Transportation Costs Food Costs Personal Insurance and Pension Costs Health-Care Costs Entertainment Costs Clothing Costs Charitable Contributions

13 Your Savings Options

Where to Save Your Money

Savings Accounts Money Market Accounts Money Market Funds Certificates of Deposit Treasury Bills and Treasury Notes

The Magic of Interest

14 Your Investing Options

When to Start Investing Your Investment Goals Matter What Kind of Risk Are You Willing to Take?

High-Risk Investors Moderate-Risk Investors Conservative Investors

Mutual Funds

Types of Mutual Funds Advantages of Mutual Funds

Exchange Traded Funds The Stock Market

The Major U.S. Stock Exchanges Knowing What Stocks to Buy Enlisting the Help of a Broker Understanding the Risks of the Stock Market

Bonds

Part 6: Big-Ticket Purchases

15 Buying Versus Leasing a Car

Car, Truck, or Something Else?

Renting a Car Sharing a Car

Owning a Car Costs More Than You Think Buying a Car

Financing Your Car Cash Back Versus 0 Percent Financing

Leasing a Car

Pros of Leasing Cons of Leasing Before You Lease

New or Used? Safety Counts Best Places—Online and Off—to Shop for a Car

At a Dealership Online Helpful Apps

16 Owning Versus Renting a Home

The Mystique of Owning a Home Advantages of Renting Advantages of Buying The Downside to Taxes Enlisting Help Qualifying for a Mortgage

The Down Payment Your Income and Expenses

Getting the Right Mortgage

Fixed-Rate Mortgages Adjustable-Rate Mortgages

Finding Your Dream Home

Types of Homes Location, Location, Location

Protecting Your Investment

17 Insuring Yourself and Your Property

Insurance 101 Insurance Must-Haves

Types of Policies You Might Need Health Insurance Auto Insurance Property Insurance Disability Insurance

Insurance You Don’t Need

Dental Insurance Flight Insurance Credit Life and Disability Insurance Life Insurance for Your Kids

Shop Around and Save When You’re Not Covered

Document Your Losses Don’t Give Up Prepare Your Claim Carefully Get Help

Part 7: Relationships and Money

18 Life, Love, and Money

Footloose and Fancy-Free Living Together

Financial Pros of Living Together Financial Cons of Living Together

Getting Married

What About Prenups? Filing Jointly or Separately?

And Baby Makes Three Divorce and Financial Issues Borrowing Money from Family or Friends

19 Choosing Life Insurance

Nearly Everybody Needs Life Insurance Term Life Insurance Versus Cash Value Which Type Makes Sense for You? How Much Life Insurance Do You Need? Shopping for Life Insurance

20 Wills, Powers of Attorney, and Health-Care Directives

Everyone Should Have a Will The Advantages to Having a Will Creating Your Will Powers of Attorney Advance Health-Care Directive

Living Will Health-Care Proxy

Part 8: Looking to Your Future

21 401(k)s and IRAs

Why Every Year Counts 401(k) Plans

Participation in 401(k)s Taking Advantage of an Employer Match Investing in Your 401(k) When to Adjust Your Contributions Tax Advantages of 401(k) Plans Managing Your 401(k) When Changing Jobs Understanding Vesting Getting Money Early from Your 401(k)

Individual Retirement Accounts (IRAs)

Contributing to an IRA Roth IRAs SEP-IRAs Timing Your IRA Contributions

22 Working with Professional Financial Advisers

Know Thy Finances, Know Thy Adviser Do I Need a Financial Adviser? Understanding Fiduciary Responsibility The Who’s Who of Financial Advisers

Financial Planners Certified Financial Planners Financial Consultants Bank Customer Service Representatives Certified Public Accountants/Personal Financial Specialists Insurance Agents Money Managers

Finding a Reputable Financial Adviser

Meeting with Potential Advisers Finding an Adviser Online Go with Your Gut

Financial Adviser Red Flags

Too-High Fees Conflicts of Interest Past Bad Behavior

More Financial Adviser Don’ts

Misrepresentation Who Has Custody of Your Money? “May I Borrow a Few Bucks?” Ignoring You or Keeping You Out of the Loop

Appendixes

A Glossary B Resources C Helpful Forms

← Prev
Back
Next →

← Prev
Back
Next →