You Only Live Once

The Roadmap to Financial Wellness and a Purposeful Life

Wiley, 2016

15 min read

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Many millennials live with zest believing “you only live once,” but they need fiscal know-how to live well.

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Members of the millennial generation – painting the group with a broad brush – embrace a way of life often called “YOLO,” for “You only live once.” Yet each millennial needs to find a way, as an individual, to build a personal life based on mindfulness and vision in order to live productively and with satisfaction. Learning how to manage your money can dramatically alter how and where you will lead your life. In this manual, Jason Vitug, founder of the Phroogal website, simply and effectively explains why understanding financial management is important and how it provides safeguards against blunders that might otherwise keep young professionals from having the lives they want. Vitug’s financial wisdom is both practicable and necessary because, unfortunately, most universities teach their students more about geometry than finance. While never giving financial advice, getAbstract recommends Vitug’s guidance to millennials and anyone else who wants to understand the basics of managing money and their lives.

Summary

Managing Finances

The emotions you feel surrounding – and generated by – your perceptions of money shape how you deal with it. You may behave in ways that make no long- or short-term sense. Conventional education helps people deal with the consequences of financial choices, but it does little to help people prevent making disastrous and possibly long-lived mistakes. To handle your money effectively, rein in your spending, boost your savings, use debt prudently and start investing early in your life. Most people know this worthwhile advice but few follow it.

In June 2015, author Jason Vitug went on a road trip that he called the “Road to Financial Wellness.” He wanted to convert “local money discussions into a national conversation.” He and his team drove 10,218 miles in 30 days and spoke with more than 8,000 people in 38 US states. Vitug began his discussions with his audiences by telling them anecdotes about money.

While holding seminars on the nuts and bolts of daily financial management, Vitug tried to persuade people to accept one essential idea: “financial wellness” means balancing the priorities of earning and investing money with everything...

About the Author

Jason Vitug’s Phroogal website encourages millennials to learn about finances and actively promotes the Smile Lifestyle community of thousands of millennials concerned about their financial well-being. He spent prior eight years working at a Silicon Valley credit union.

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K. L. 6 years ago

Very helpful and worth the time to read.
T. B. 6 years ago

it worths to read
M. C. 6 years ago

good information

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