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Young Money Book Report

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Running head: YOUNG MONEY BOOK REPORT 1
Young Money Book Report
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YOUNG MONEY BOOK REPORT 2
Todd Romer in his book Young Money describes plans for financial prosperity in five
steps which are: making a decision to dream big, setting up a savings plan, tracking your
expenses and creating a personal budget, starting investment accounts, and paying yourself after
giving first. This book also talks about debt and credit, buying a car, a house and insurance, and
entrepreneurship. The targeted audience by the author is millennial-age people who have little or
no know-how about finance and financial success.
Chapter 1: Make a Decision to Dream
This is the fundamental step in achieving financial health and success over time. It begins
with answering the question why do you want to be financially successful which basically
encourages a person to dream. It is the motivating factor to stay committed to your dream goals.
However, some people say to themselves that they may list dreams and goals for their lives and
they don't happen to develop a phobia of failure. Todd reframes failure definition as not trying in
life. Your goals should be SMART that is S-specific, M-measurable, A-attainable, R- realistic,
T-timely. After listing your goals set up mid-term goals.
Mid-term goals set the foundation to continue having faith in yourself and how you can
achieve the other set goals. The driving energy to stay committed to your goals is reconsidering
the answer of the ‘why' question as it is easy to lose focus. After deciding your mid-term goals
estimate financial need in relation to the goals and how you will save then set your long term
goals which take more than five years. After deciding your long term goals is essential to
estimate financial needs as per the goals and then you can now consider how much to save and
invest to get there.

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Running head: YOUNG MONEY BOOK REPORT Young Money Book Report Name University Date 1 YOUNG MONEY BOOK REPORT 2 Todd Romer in his book Young Money describes plans for financial prosperity in five steps which are: making a decision to dream big, setting up a savings plan, tracking your expenses and creating a personal budget, starting investment accounts, and paying yourself after giving first. This book also talks about debt and credit, buying a car, a house and insurance, and entrepreneurship. The targeted audience by the author is millennial-age people who have little or no know-how about finance and financial success. Chapter 1: Make a Decision to Dream This is the fundamental step in achieving financial health and success over time. It begins with answering the question why do you want to be financially successful which basically encourages a person to dream. It is the motivating factor to stay committed to your dream goals. However, some people say to themselves that they may list dreams and goals for their lives and they don't happen to develop a phobia of failure. Todd reframes failure definition as not trying in life. Your goals should be SMART that is S-specific, M-measurable, A-attainable, R- realistic, T-timely. After listing your goals set up mid-term goals. Mid-term goals set the foundation to continue having faith in yourself and how you can achieve the other set goals. The driving energy to stay committed to your goals is reconsidering the answer of the ? ...
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