Summary of Broke Millennial

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Rating

8 Overall

9 Applicability

7 Innovation

7 Style


Recommendation

Erin Lowry, a millennial and founder of BrokeMillennial.com, teaches her peers how to take control of their finances. She covers understanding your feelings about money, making a budget, knowing your credit score, dealing with student loans, comparison shopping for financial products, and more. Lowry’s manual is comprehensive and occasionally funny. Millennials will appreciate her social media references and her accounts of their contemporaries’ real-life struggles with familiar financial issues. Non-millennials will find excellent, if basic, financial counsel. getAbstract recommends Lowry’s advice to people seeking mastery over his or her money, especially millennials.

In this summary, you will learn

  • How to take control of your finances,
  • Why you should make a budget, and
  • What saving and investing can do for you.
 

About the Author

Erin Lowry is a personal finance expert and is also the author of Broke Millennial Takes On Investing: A Beginner’s Guide to Leveling-Up Your Money. She’s been featured in The New York Times and The Wall Street Journal and on Fox & Friends.

 

Summary

A Few Important Touchstones

You can take a few crucial steps to take control of your finances: Make a budget. Create an emergency fund. Work with the right bank. Know and nurture your credit score. Use credit cards wisely. Deal with your debt effectively, including student loans. Decide whether to buy or rent a home. And, even as a millennial, prepare for your retirement.


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