I was lucky enough to get a signed copy of “More Money for Beer and Textbooks“ (no, they didn’t pay me to write a book review though I’m happy to be paid in number of beers for number of praises!) so in the true youngandthrifty.ca fashion, I’d like to give my two cents (not sure if I can use that term anymore, two nickels?) on the book!

First off, I’m amazed and how quickly this book was written and how much work Justin and Kyle put into this book!  It’s very very well written and I think the quintessential book for EVERY freshman starting college or university (or even for high school kids just finishing high school in the summer).  I truly think that if this book were accessible to each college freshman, there would be a lot more financially responsible kids around.

Much like these guys’ blog writing, this book tells it like it is, but isn’t too harsh to hurt the egos and the fresh thinking of the young 17 or 18 year olds reading this.  It goes step-by-step what to expect, what to think about, what to do or not do in consideration of what will happen after they graduate (e.g. dealing with real life and $50,000 student loan debt).  It gives a sorely needed sense of realism for the 17 to 18 year olds of Canada today.

I liked how they went through the basics and the nitty gritty of what each college freshman should know, and left the more complex stuff (such as investment decisions) out.  Basically, Kyle and Justin are like the big, financially knowledgeable big brothers you wish you had who guide you through the financial nitty gritty of college and university, and help prepare you (or at least give you the information) on how to get out of university unscathed and ready for the real world.

Here are a few of my favourite chapters: Continue Reading →

Before we get into helping students with some day-to-day financial tips, the bigger question that really needed to be answered in our newly released book – More Money for Beer and Textbooks – is should you even bother going to school at all anymore?  After all, every time you open the newspaper or turn on the evening news there is another story about a specific graduate that has a BMW-worth of student debt, yet has no job prospects right?

The bad news for today’s students is that it does cost more to go to school than ever before.  This is especially true for a university education.  It isn’t your imagination guys, by any measurement the cost of a post-secondary education today is substantially higher than the one your parents and/or grandparents received.  Don’t listen to their stories about ten cent chocolate bars and be fooled.  The prices involved with education have outpaced general inflation by a large margin over the past few decades.

The good news for the students of today, and those of tomorrow, is that a post-secondary education is a still a pretty damn good deal.  Our book takes a serious look at what gives you the most bang for your buck in today’s educational market.  Regardless of the path you choose though it won’t be cheap.  To put it in investment terms, it will be an investment that pays huge dividends later on (and a dividend that is almost guaranteed to grow if you make a few key choices), but it is a sizable outlay of capital (re: mad cash) upfront.

In order to prove to the haters out there (ok so personal finance sites probably don’t have many “haters”… the attempt at trying to sound hip still stands) that we large legit, we decided to release a sneak peak of the first chapter of More Money for Beer and Textbooks over on our sister site My University Money.

Click Here to See Chapter 1 for Free!

If you’re a harder sell that just a fancy URL link and an exclamation mark, the chapter takes an in-depth look at the costs associated with various types of schooling across Canada today.  We also present some hard data on the types of challenges students today are going to see after they leave they leave their protective high school cartoon.  The numbers concerning student debt and how quickly that debt has escalated might of particular interest to current high school students and their families. Continue Reading →

I began my foray into personal finance through reading personal finance books.  Although I was dabbling in personal finance already before reading personal finance books (and of course, not completely understanding it), it wasn’t until my friend told me about a book called The Wealthy Barber that I became really interested in personal finance and investing.

The Wealthy Barber led to me reading other great personal finance books.  Although I haven’t read as many personal finance books as Teacher Man probably has (what was the last count, Teacher Man? 232? ), I think I have read my fair share (to the point that I probably lost count).

So I thought I would share with you my thoughts on the top five personal finance books you should read.  These five are great books with enough personal finance to wet your appetite for more personal finance.  I am even giving you a chronological suggestion on which books to read first, look at that!

Findependence Day Review

This book is written by Jon Chevreau who is currently the editor of Moneysense Magazine (a great magazine to subscribe to, by the way).  If you are interested in a fictional piece with personal finance information sprinkled and seemingly hidden within the prose, this is the book to read.

It follows the life of a couple, very much like you, who are interested in seeking financial independence.  The book gives the concept of personal finance relevance to your own life.  I really liked it because it is very relevant and isn’t too “high level” so that it piques your interest in personal finance just enough for you to get interested in reading other books.

Wealthy Barber Review

This is the first personal finance book I read and I instantly became hooked.  Since then, the author, Dave Chilton, has written another book.  This book also follows characters as they learn about personal finance while talking about it in a barber shop.  It’s similar to Findependence Day in that personal finance information in sort of hidden or weaved into the writing in a very stimulating way.  I highly recommend Continue Reading →