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In First Generation White Collar: A practical guide to getting ahead and not just getting by with your money (Moshire Press 2010), This book help young adults that are the first in their family to graduate from college that need guidance with managing their new found income. L. Marie Joseph, personal finance writer and financial blogger guides recent college graduates to get ahead with money. First Generation White Collar not only tells you what to do with money but gives details on how to do it.
Marie shares her knowledge of saving money, prioritizing debt, building wealth and becoming a responsible consumer with money. She teaches young adults to:
• Manage Debt and stop living on the edge
• Forget Budgets and Save 30% of your income
• Invest Wisely
• Live Simple
• Avoid Lifestyle Inflation
• Buy a house the right way
From The Author
According to the U.S. Census Bureau, 28 percent of Americans have obtained at least a Bachelor's Degree. The District of Columbia leads the nation in the proportion of college grads, with 46%. A fraction of those percentages are First Generation college graduates.
Most First Generation White Collar Professionals are mainly of the minority community. Not only the success is on you but the weight of perhaps taking financial care of the previous generation before you. This can be rewarding for a college graduate and also can cause suffering and obstacles when it comes to guidance. When you are the first to achieve anything is becomes harder simply because they are not too many close mentors around to help you. There is a light at the end of the tunnel. I found that most of us are financially strapped and are barely getting by instead of getting ahead with money. Due to lack of financial education, media constantly sourcing you to spend, many individuals don't know where to turn.
This book is about getting ahead with your finances and not just getting by. I will discuss the various personal finance topics, such as debt, savings, insurance, career, and investing. How to Save, How much to save and how to curb your spending.
For The First Generation White Collar professional, we all of a sudden, have this new money entering our hands and yet most of us have no experience on good financial habits. This makes us fail in wealth to the next generation. We don't have a clue on what to do with our money (except spend it).
Instead of buying a new house, and a new car immediately upon graduating, we need to focus on wealth building, avoiding new debt and paying on student loans. From there, it will become easier to take vacations, shop for clothes and perhaps start a business and do right with our money, as a result teaching the next generation good financial stewardship.
I have written this book for the young professionals everywhere that work every day, have a nice salary but are steadily getting mediocre results when it comes to their finances.
—L. Marie Joseph
Author, First Generation White Collar
L. Marie Joseph has her ducks in a row. Given the rather ominous economic situation not only in this country but throughout the world, Joseph takes all of the information of our economy dilemma, distills it in an opening preface, and then sets about informing young new white collar generation members how to avoid falling into the pit that is our current anathema - debt, financial instability and lack of training in money management. What makes this brief book so very useful is Joseph's manner of writing. Not setting herself up as a spanking professor, she instead takes each step of planning in a sequence that is not only reasonable but also practical. Her subtitle for this book in many ways says it all - 'A practical guide on how to get ahead and not just get by with your money.' She begins with warnings about the use of credit cards, the use of which generally leads to living beyond our means, about paying off student loans, saving money from each paycheck, living simply, making (and keeping) a budget, and then gives very solid helpful information on investments such as portfolio types and buying a house and car. Yes, we all should know this information but we all have slipped into the danger zone Joseph is trying to teach our young white collar workers to avoid. The book does not stop there: for those of us who have learned her lessons the hard way there is much information here for reparative work! Grady Harp
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Posted February 8, 2011
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Overview
In First Generation White Collar: A practical guide to getting ahead and not just getting by with your money (Moshire Press 2010), This book help young adults that are the first in their family to graduate from college that need guidance with managing their new found income. L. Marie Joseph, personal finance writer and financial blogger guides recent college graduates to get ahead with money. First Generation White Collar not only tells you what to do with money but gives ...