Black Friday – the big shopping day right after Thanksgiving – is building up a big head of steam. But before you give in to advertisers' entreaties to spend, spend, spend, STOP – and read Generation Earn: The Young Professional's Guide to Spending, Investing, and Giving Back, by Kimberly Palmer.
Palmer, the personal finance columnist for US News & World Report, is an expert when it comes to personal money management. Her magazine column and daily blog, Alpha Consumer, offer short, smart tips to help consumers live on a reasonable budget and avoid wasteful consumption that not only takes a toll on the environment, but racks up big credit card debt.
Palmer's book encourages saving rather than spending, investing sooner rather than later, and building up enough cash reserves so you can support the causes you believe in as well as buy necessities and enjoy an occasional splurge.
The book is geared towards 20-somethings, but it will benefit anyone who wants to manage money smartly and with an eye towards the future and retirement. I particularly like the chapter on "Green Spending " (full disclosure: the author interviewed me for this chapter), which encourages readers to forgo shopping sprees even if they are "environmentally friendly" and to avoid "greenwashing" by buying products that are certified sustainable. Thumbs up, Generation Earn!
For more money-saving strategies, don't miss: