Broke Millennial Book Summary - Broke Millennial Book explained in key points
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Broke Millennial summary

Erin Lowry

Stop Scraping By and Get Your Financial Life Together

4 (160 ratings)
21 mins

Brief summary

'Broke Millennial' by Erin Lowry is a personal finance guide for millennials that explores topics like budgeting, saving, investing, and tackling debt. It offers relatable advice and real-life examples to help readers navigate the complex world of money management.

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    Broke Millennial
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    Many people in their 20s and early 30s find money stressful, confusing, and scary – and it’s holding them back. 

    After a night on the town, Erin, the author, and her friend Lizzie sobered up over coffee. Like many millennials drawn to New York, Lizzie came to the Big Apple to pursue a creative career. But she’d found herself trapped in a boring corporate job. 

    Erin asked Lizzie why she didn’t just quit. After all, she was 23, debt-free, and single – wasn’t this the perfect time to work crappy waitressing or nannying jobs while she pursued her true calling?

    “I don’t know,” Lizzie replied. “Money just really stresses me out!” She never looked at her bank account and always just hoped there was enough cash to make it to the end of the month. Quitting her job would mean managing her money, which she’d never learned how to do.

    The key message in this blink is: Many people in their 20s and early 30s find money stressful, confusing, and scary – and it’s holding them back. 

    Lizzie was a smart young woman who came from a well-off family. But if a savvy professional like her couldn’t manage her money, how were other people her age coping? It’s a question Erin couldn’t help asking herself. And it wasn’t long before she realized that Lizzie’s experience is pretty common among millennials.

    Getting a handle on your finances is often the difference between a life of fulfillment and a life of frustration. If you don’t manage your money properly, you could end up working to pay the rent but being unable to afford the kids – or pets – you really want. It might even mean skipping out on every exciting experience on your bucket list, or else splurging on those experiences now, only to find yourself living from paycheck to paycheck for the rest of your life.

    Yes, getting a handle on your finances is a serious business. It’s no wonder the anxiety about money can be crippling. So, how do you break out of this anxiety trap, or – better yet – avoid it entirely? 

    As we’ll see in these blinks, it’s really not that hard when you know how. In fact, improving your relationship with money doesn’t require complex formulas. All it takes is a series of small steps that, together, add up to one big change.

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    What is Broke Millennial about?

    Broke Millennial (2017) is a smart guide to personal finance, designed to help cash-strapped twenty- and thirty-somethings set themselves up for the future. Packed with simple yet effective tips and tricks, these blinks will help you stop scraping by and start thriving – financially and personally. 

    Broke Millennial Review

    Broke Millennial (2017) by Erin Lowry is a practical guide that helps millennials take control of their finances and achieve financial success. Here's why this book is worth reading:

    • Full of practical tips and advice, it offers actionable steps for managing money, saving, and investing, empowering readers to take charge of their financial future.
    • Through real-life examples and relatable stories, the book provides an engaging and accessible approach to personal finance, making it easy to understand and apply.
    • With its humorous and conversational tone, it keeps readers entertained and interested, ensuring that learning about finance is anything but boring.

    Best quote from Broke Millennial

    Trying to change how you spend or save money without understanding why its difficult in the first place probably means youll slip up.

    —Erin Lowry
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    Who should read Broke Millennial?

    • Millennials mystified by money 
    • Would-be savers struggling to make ends meet 
    • Short-termists living paycheck to paycheck

    About the Author

    Erin Lowry is a writer based in New York and the author of two books on personal finance. Known for her no-nonsense advice, Lowry is a regular guest on CBS Sunday Morning, CNBC, and Fox & Friends. She has also written about money for Fast Company, Cosmopolitan, and Refinery29

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    Broke Millennial FAQs 

    What is the main message of Broke Millennial?

    The main message of Broke Millennial is to help young adults take control of their finances and build a solid foundation for their future.

    How long does it take to read Broke Millennial?

    The reading time for Broke Millennial varies, but it typically takes several hours. However, the Blinkist summary can be read in just 15 minutes.

    Is Broke Millennial a good book? Is it worth reading?

    Broke Millennial is a valuable read for anyone looking to navigate personal finance with practical advice and a relatable tone.

    Who is the author of Broke Millennial?

    Erin Lowry is the author of Broke Millennial.

    What to read after Broke Millennial?

    If you're wondering what to read next after Broke Millennial, here are some recommendations we suggest:
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    • The Little Book of Common Sense Investing by John C. Bogle
    • How to Make a Few Billion Dollars by Brad Jacobs
    • Dave Ramsey's Complete Guide To Money by Dave Ramsey
    • The Millionaire Next Door by Thomas J. Stanley and William D. Danko
    • Gut Check by Steven R. Gundry