Book Review: Moneylicious: A Financial Clue for Generation Y

I don’t know about everyone else, but when I got my grades back for last semester, there were a few things on my mind before I took a peek at my scores. One of these things was the blazing image of several numbers with dollar signs in front of them—a proverbial raven above my door, commonly known as a student loan. Here I am going to school so I can be a lawyer when I grow up, but will I ever get a job? Will I ever get out of debt? Oh nevermore, nevermore!

Reader, are you also thus mired in financial woe, cursing fate with payments late? Cheer up, ye who walk in the shadow of debt! It may not be easy, but a little budgeting and investment savvy can go a long way in picking yourself up from that puddle on the floor. After all, this is the age of information, and you can get plenty of help just looking around and taking a read.

Moneylicious: A Financial Clue for Generation Y, by Ornella Grosz

The book Moneylicious: A Financial Clue for Generation Y, by Ornella Grosz, is a great example of this and quite excellent for the young person attempting to make a financial start in life. Why? Because the whole concept of the book is just that—teaching young people the basic financial know-how that most people usually learn the hard way. It’s a basic guide to navigating the financial world from a practical point of view, and it teaches young people skills for how to plan their financial futures regardless of what business they’re in.

No, it’s not just a lot of encouraging words about budgeting—like “you can do it,” “be strong and stick to the budget,” “try collecting coupons,” “make your own lunch,” or “you’ll be surprised at how much you’ll save.” No, sorry, it’s really not that surprising. We’re law students; spending less as a budgeting strategy isn’t (or shouldn’t be anyway) that much of a revelation at this point. Plus, 50-cent coupons aren’t really going to help with tuition. (Sad, I know.)

Fortunately, this book is not that. It gives budget strategies, sure, but it also uses words like FICO and IRA. It talks about the timing, procedure, and management of loans, credit, insurance, and taxes. It describes the different types of basic investment opportunities to get you started on building a financial portfolio and tells you what to watch out for. It shows you how you can strategize loans or investments according to trends in inflation and interest rates. It even guides you through how to handle identity theft—yes, please! So, basically, it takes you through your life in financial terms.

It seems to me that this book is a useful go-to for all things $$$. It’s not so much an all-encompassing dictionary; its function is as an easy, readable, practical introduction guide. In law terms, this is a great secondary source, and in lay terms, it’s a really convenient book to get you started on all this “money stuff” in the real world.

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