Book Review & Giveaway: How Not To Move Back In With Your Parents – The Young Person’s Guide To Financial Empowerment

Last Updated on

How Not To Move Back in with Your ParentsRob Carrick, author of How to Pay Less and Keep More For Yourself and Rob Carrick’s Guide To What Is Good, Bad, and Downright Awful In Canadian Investments Today, has recently released his new book: How Not To Move Back In With Your Parents – The Young Person’s Guide To Financial Empowerment. As you can tell, Mr. Carrick is not a fan of short of book titles! He is also a columnist at the Globe and Mail, and has a strong Facebook following (that includes myself). His taste in recommending ETF eBooks is definitely one of his strong suits 😉

I have to give Mr. Carrick a lot of credit, with this book and his recent online posts he has become the face of Generation Y’s and the Millennial’s current financial struggles. I have found his material to be interesting, not matter what the format – video, column, or book. He is often very original, and consistently takes the time to give credit to other financial authors out there. He has definitely made a fan out of me.

Don't Listen To Your Parents – Listen To Rob Carrick Instead!

In his newest offering, the G&M columnist seeks to shed a little light on what sort of decisions and headwinds many 18-30 year olds face today. He specifically shows where the “common sense” solutions of yesteryear rarely apply to young people these days. If one gets the feeling that the author has some very personal insights into the material despite the fact that he appears to me just the slightest bit outside the demographic – it’s because Mr. Carrick is the father of an 18-year old child that is just entering this world of finances. This definitely gives him an added layer of credibility!

The book is organized in a very user-friendly fashion that reminds me a lot of my personal Holy Grail of Canadian personal finance writing – The Wealthy Barber. Mr. Carrick includes several recommendations for where to go for a more in-depth look at a specific topic, and ends each chapter with bullet point summaries, and actual case studies that vividly illustrate the focus of the chapter. This gives a readers a sense of context, and illustrates just how the information might be applied.

Here are a few of my favourite parts of How Not To Move Back In With Your Parents:

  • A great introduction that specifically illustrates how and why things are different for young people today. This includes an explanation of why we are quickly becoming the “Boomerang Generation” that returns to the home nest after leaving (as if we didn’t have enough nicknames already?).
  • A detailed look at how no matter what your parents tell you, we are paying quite a lot more for a post-secondary education than they did. This naturally leads to how to prepare for this quickly escalating cost.
  • A look at the term “anti-dowry” and how it is affecting youth matchmaking today.
  • A thorough look through RESPs, RRSPs, and TFSAs. I was pretty familiar with these savings vehicles already, but I highly recommend them for young people.
  • Why the old school clichés about buying a house do not necessarily apply to us, and a step-by-step guide to eventual home ownership.
  • Some common sense advice on weddings and kids that is definitely not amongst young Canadians at this time!

I highly advice you check out the book if you, or someone you know might benefit from the insights of one of the leaders on the Canadian financial scene. Here is a quick look at the Chapter headings from How Not to Move Back In With Your Parents:

1) Affording College or University
2) How to Handle Debt, Both In School and Afterwards
3) You and Your Bank
4) Saving, Budgeting, and What To Do If You Have To Move Back Home
5) Looking To The Future: RRSPs and TFSAs
6) Mobility: or Cars and You
7) Buying a Home
8) Weddings and Kids
9) Insurance and Wills

You can order from amazon by clicking the following link: How Not to Move Back In With Your Parents

a Rafflecopter giveaway

4 Comments

  1. Steve @ Grocery Alerts on May 24, 2012 at 5:33 pm

    Rob, is a big fan of the long titles – it makes it easier to figure out.

    The insurance and wills chapter is probably my favorite.



  2. Young on May 25, 2012 at 1:49 am

    I’d like to win this! LOL.. how do I go about liking myself?



  3. JB on May 25, 2012 at 4:12 pm

    We’ll just manually give you another entry 🙂



  4. Jenn Cloud on May 29, 2012 at 5:28 pm

    I would absolutely love this book to talk about with young people in St. Louis!!



Leave a Comment





> >