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Summary of Broke Millennial 

4.6 . 1585 reviews

Short summary

If you’re a cash-strapped 20- or 30-something, it’s easy to get freaked out by finances. But you’re not doomed to spend your life drowning in debt or mystified by money. It’s time to stop scraping by and take control of your money and your life with this savvy and smart guide. Broke Millennial shows step-by-step how to go from flat-broke to financial badass. Unlike most personal finance guides out there, it doesn't just cover boring stuff like credit card debt, investing, and dealing with the dreaded “B” word (budgeting). Financial expert Erin Lowry goes beyond the basics to tackle tricky money matters and situations most of us face. Packed with refreshingly simple advice and hilarious true stories, Broke Millennial is the essential roadmap every financially clueless millennial needs to become a money master. So, what are you waiting for?

Table of content

  • Summary of Broke Millennial
  • About the author
  • What is Broke Millennial about?
  • Who should read Broke Millennial
  • Topics in Broke Millennial
first key point

Broke Millennial, let’s get your financial life together

Listen the first key point
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This summary isn’t a boring lecture on the money. It’s more like a financial roadmap that covers various paths you can take to go from flat broke to financial badass and gives you the tools and information to get there. Whether you read it chronologically or flip through at random, each chapter will give you actionable advice on how to improve and further strengthen your relationship with money.

The first few chapters lay the foundation for you to embark on your journey toward building a healthy financial life. The chapters will help you determine what your approach is toward money and what psychological blocks or pitfalls may surround it for you, as well as show you how to assess your financial know-how and improve it.

Many of the chapters address sticky situations millennials specifically face, such as negotiating your salary, navigating those awkward times when friendships and finances collide (like what to do when you can’t afford to split the dinner bill evenly with your pals), and getting financially naked with your partner. You’ll even learn a bit about investing, buying a house, and saving for retirement — and yes, all of those are possible, regardless of how much (or how little) you earn right now.

You can take your sweet, sweet time with this summary. Read a chapter at random when you need to spend some quality time in the Whiz Palace or flip to the retirement chapter when you start a new job and have no clue how to handle a 401(k). There will be some financial jargon in this summary, but it’s mostly a safe space for you to learn about money with more than a dash of humor. By the end, you’re going to feel confident instead of terrorized each time you balance your budget.
second key point

Putting in the effort to understand how money works can ensure that you set your future self up for a life of leisure

Money can allow you to quit a job to be your own boss or step it up from sleeping in your childhood bed and moving into an apartment of your own. Money gives you the opportunity to help others in need. And with proper management and planning, it lets you retire eventually, so you don’t have to continue exchanging your time and energy for a paycheck until your last breath.
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third key point

No matter how you feel about the B-word, having a budget puts you in control of your money

fourth key point

Credit scores and reports matter; know what the FICO credit score means

fifth key point

Learn how to handle student loans without having a full-on panic attack

sixth key point

Do your due diligence — be aware of your partner’s financial burden before being yoked in marriage

seventh key point

Learn the art of negotiation, how to ask what you want

eighth key point

Leverage on the power of compound interest through investing for the long haul

ninth key point

You have the ability to retire happy and live a life of leisure that you crave — invest early

tenth key point

Conclusion

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What is Broke Millennial about?

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Do you find yourself staring at your computer for long minutes, unaware of time slipping by? Do you enter a room and suddenly cannot remember why you stepped in the first place? Is it a herculean task for you to sit through ten pages of a book without reaching for your phone? If yes, your focus needs some work and fast.

Actually, yours is not a unique situation. Many adults like you have issues concentrating on a given task. However, in this fast-paced world of ours, you can’t afford to be not focused at all times. Thankfully, this article comes to your rescue! With the tips and tricks from Hyperfocus by Chris Bailey, you will get in the top percent of folks who have mastered the art of concentration.