Personal Finance

Reviewed by Dr. Renee Dyer, Assistant Professor of Business Finance, Limestone University on 8/18/20

Comprehensiveness rating: 5 see less

The text covers all necessary components of personal finance. The text flows in a cohesive manner that should make the student experience more fulfilling.

Content Accuracy rating: 4

I did not view any errors in the text.

Relevance/Longevity rating: 5

The textbook is relevant to personal finance at this time. The text provides a good foundation to aid students in making sound financial decisions.

Clarity rating: 5

Any technical terminology used was defined and explained in the text.

Consistency rating: 5

This text is very comparable to the text I have used from Cengage. The chapters are in a different order, but I understand why it is written this way. The chapters build on themselves in a comprehendible order.

Modularity rating: 5

The text is broken into sections that aid in reading and assignments.

Organization/Structure/Flow rating: 5

The textbook is presented in a fashion that builds on financial information to provide a thorough knowledge of personal finance for the student.

Interface rating: 5

I printed the textbook. Everything is legible and flows well.

Grammatical Errors rating: 4

I did not find any grammatical errors.

Cultural Relevance rating: 5

I did not find any of the text, problems, or examples to be insensitive or offensive.

Comments

This is a wonderful open access textbook for personal finance professors to solely use or use along with their current textbook for additional information, examples, problems, etc.

Reviewed by Kim Vierra, Instructor, Oregon State University on 8/4/20

Comprehensiveness rating: 3 see less

This book covers everything that I cover in my personal finance and financial planning courses, with one additional chapter related to careers, which is an interesting addition. I would have liked to see a section dedicated to paying for college. The topic of investing in education is sprinkled throughout the text but is not in its own section. Financing education is as important as buying a house or car, which each have their own sections, so it would have been good to see that as a stand-alone section. I don't see an index or a glossary for the full text. Also, I'd like to see a section on FinTech and the use of online tools. Most of my students use apps like Acorns, Robin Hood, Square, and Venmo, etc. They want to better understand these offerings and the pros and cons associated with the various savings, money transferring and investment apps available today.

Content Accuracy rating: 4

I didn't find any errors in the book in terms of calculations, etc.

Relevance/Longevity rating: 1

The basics of sound financial management don't change much over time, however, tools, tax tables, interest rates, and the stock market change rapidly. For example, this book does not address the fintech apps that students are using for investing, transferring money to friends and family, and saving money. This omission makes the book less applicable to certain populations, such as my college-aged students. Also, the majority of the hyperlinks are broken.

Clarity rating: 4

The writing could be cleaned up to improve conciseness. It is wordy. Definitions are given for technical concepts, which is a plus. A glossary of these terms would have been nice to have.

Consistency rating: 5

I like the layout, with learning objectives, key takeaways, and homework exercises provided for each chapter.

Modularity rating: 5

Yes, I can see how I could easily reorder this book to match up with my syllabi, and use separate sections of the book for each of my classes. Each section can stand on its own.

Organization/Structure/Flow rating: 4

The order is fine. It makes sense to start with learning the basics of budgeting and financial planning (Chapters 1-6), followed by the chapters on getting what you want (Chapters 7-9). protecting what you have (Chapters 10-11) and building wealth (Chapters 12-17). The last chapter on career planning is an interesting addition to this book. It is the only chapter that I wouldn't typically cover in my personal finance classes.

Interface rating: 4

In general, the interface is fine. Some of the text on the included graphics is so small that it is unreadable, and when you click on the image, the image/text doesn't expand. It would be nice to have the ability to click on the figures in order to see them better. I can use the browser zoom, but it isn't as user friendly as I'd like it to be.

Grammatical Errors rating: 4

There are some commas missing, several tautologies that could be removed, and noun/verb agreement needs to be fixed in some sentences.

Cultural Relevance rating: 4

I didn't note any issues with the choice of scenarios or names of characters potentially making students feel uneasy. However, a wider variety of character names could make more students feel more included. For example, could Alice become Tanisha, and Mark become Jose for the next iteration of the book?

Comments

While this is a great book for understanding the fundamental concepts of personal finance, a reboot is necessary to clean up the broken links and to update the content to include advances in FinTech and recent updates in legislation.

Reviewed by Aaron Henrichsen, Assistant Professor of Finance, University of Northern Colorado on 12/13/19

Comprehensiveness rating: 2 see less

The important areas of personal finance are covered, though in some cases they are covered more extensively than a beginning personal finance book maybe ought to. I saw no glossary or index.

Content Accuracy rating: 3

Accurate information but a large fraction of the hyperlinks are broken

Relevance/Longevity rating: 3

Most of the content is based on tried and true personal financial principles that will last. However, personal income tax is an area that needs updating rather frequently because of legislative changes to the tax code. This text has not been updated in almost a decade, and so will fall short in this area.

Clarity rating: 2

As an introductory finance text targeted to an undergraduate without any background in economics, the text is full of economic jargon with little or no definitions or examples. Though the terms are accurately used, they will most likely confuse the target audience. Examples of this include micro, macro, capital, assets, inflation, deflation (all with no definitions, index, or glossary). This is bad enough that if I choose to use the text in the futures, I may have to put out a short “Defining Terms” video for each chapter.

Consistency rating: 4

The text was consistent

Modularity rating: 4

Information is broken up into digestible segments. It is readily divisible into smaller reading sections that can be assigned at different points within the course

Organization/Structure/Flow rating: 4

I feel Chapter 5 Budgeting should have been Chapter 3, but the order of topics covered is acceptable.

Interface rating: 3

Images and organization were fine, but many (1/3 to 1/2) of the hyperlinks were broken.

Grammatical Errors rating: 5

I found no problems here.

Cultural Relevance rating: 5

No problems found.

Comments

This book does an okay job at presenting personal finance…and does it for free. I would rate it below all Personal Finance texts that I have reviewed from the major publishers such as Wiley, Pearson, McGraw Hill, and Cengage. However, it is not so much worse that it isn’t a good option for a minimal-cost Personal Finance course. Though I can’t give it a fully positive review, I am still considering switching to this text in the next school year.

Reviewed by Darren Kraemer, Adjunct Instructor, Fletcher Technical Community College on 4/24/19

Comprehensiveness rating: 5 see less

This text is the most comprehensive on this subject matter as any text I've seen to date. It contains more than enough of what is needed to cover a comprehensive course on personal finance. In this case, more is always better as any teacher would prefer to remove sections rather than look for supplemental information. With this text you will have more than you need to teach a comprehensive course on this subject matter.

Content Accuracy rating: 4

This book is sufficiently accurate in its text but has some failings in its links, references and homework assignments. Some links don't work any longer and need to be removed or updated. However, that is not a hindrance to the validity and use of this text for a complete and comprehensive course on personal finance.

Relevance/Longevity rating: 4

This book is mostly relevant but as stated in the accuracy section above, there are links and references that are no longer valid. The information in the text will stand the test of time but the links, references and homework assignments need to be updated and improved.

Clarity rating: 5

The clarity of this text is superb. The language is easy to read and the chapters and section breaks are well placed.

Consistency rating: 5

The consistency of the chapters are perfect. Every chapter has learning objectives followed by the lesson lecture and finishes with key takeaways and home exercises. This format is easy to follow and flows comfortably.

Modularity rating: 5

As mentioned in the consistency section, the format flow is excellent and easy to parse. This is an easy read and the suggested module groupings are logical.

Organization/Structure/Flow rating: 5

The organization of this book is logical and flows with ease. The table of contents and preface are helpful and practical. The suggestions are a nice enhancement to the natural construction of a course on personal finance using the text of this book.

Interface rating: 4

The interface is sufficient other than the web links that do not work.

Grammatical Errors rating: 5

I found no grammatical errors.

Cultural Relevance rating: 5

I found nothing offensive even in the most subtle ways of possible interpretation. Many various examples are used and contain no apparent prejudices.

Comments

Again I want to mention that this text is the most comprehensive on this subject matter as any text I've seen to date. I would highly recommend it to be used by any instructor teaching a course on personal finance. It is comprehensive and flows well.

Reviewed by Christina Glenn, Adjunct Instructor, Fort Hays State University on 11/22/18

Comprehensiveness rating: 5 see less

This is by far the most comprehensive personal finance text I have evaluated! While it does not have an index or glossary, definitions are clearly defined within chapters, and the table of contents is detailed enough to find the topic you are looking for in the book. This text does an excellent job combining economic, business, finance, and consumer topics to thoroughly explain personal finance topics. The only topics I felt that needed more detailed explanations were auto, home, and disability insurance. I was very impressed with the author's work, as it also includes discussion of behavioral and emotional aspects of personal finance.

Content Accuracy rating: 4

Overall, I did not find any errors in the text. It does need some updating for the tax, retirement, and estate laws, as it was last updated with 2008 laws. But very little effort is needed to make the information current.

Relevance/Longevity rating: 5

This text has staying power. While some personal finance topics, such as tax, retirement, and estate need to be brought up to date with current numbers, it would take very little effort on the part of the instructor to update that content. I was impressed that the authors clearly thought these updates through, as it would only require updating images to current data.

Clarity rating: 4

The book is clearly written, except for some concepts that may be more difficult for non-business students to understand. I feel the text is geared more toward business students who would be familiar with some of the terminology in the text from other courses.

Consistency rating: 5

The text is consistent throughout as far as depth of coverage for each topic and appropriate ordering of chapters. I would suggest moving the last chapter, on careers to the beginning. I would also suggest a little more coverage of the insurance topics, but the graphics are excellent in the text, and the content is superior to those of "revenue generating" textbooks.

Modularity rating: 5

The text has clearly defined sections, with excellent learning objectives, takeaways, and exercises for EACH section within the chapter. Very impressed with the organization of the text and application of material in exercises.

Organization/Structure/Flow rating: 4

The topics are presented in a logical order, with the exception of Career Planning. However, most personal finance texts do place Career Planning at the end. To me, discussion of career planning makes more sense earlier in the semester, as the student's career choice is going to impact their overall financial plan.

Interface rating: 5

The textbook is easy to navigate, with buttons at the top to skip back to the previous section, go to the Table of Contents, or skip ahead to the next section. The graphs and images were all clear and concise. It was easy to read, with no interface issues.

Grammatical Errors rating: 5

The text was very well written, with no grammatical errors found.

Cultural Relevance rating: 5

Examples provided in the text did not mention race or ethnicity and were not offensive in any way. A variety of financial situations were presented in case examples, and did not overly simplify the financial conditions a person might experience. As students come from diverse economic backgrounds, I did not find the examples to favor lower socioeconomic status or higher socioeconomic status individuals.

Reviewed by Jennifer Lehman, PhD student and associate instructor, Texas Tech University on 3/27/18

Comprehensiveness rating: 5 see less

The text covers all relevant subject areas and has a good table of contents, with links provided to subsections within each chapter. If anything, the text is too much for some courses to cover in one semester - but as an instructor I would rather decide what to skip rather than not have enough content. I like that behavioral finance is included, and career information is included.

Content Accuracy rating: 4

For the most part, the book is accurate. However, I found a bad web link - P 13 Q 3 - here's the error message - The requested URL /od/moneybyageorlifestage/Money_and_Personal_Finance_by_Age_Life_Stage.htm was not found on this server. Also, federal estate tax numbers are still from 2009, and has significantly changed since then. I would either leave that part out or make sure someone updates it every year.

Relevance/Longevity rating: 4

Some of the comments here overlap with the one above. I found a web link that is no longer good, and estate tax numbers are out of date. Also, wills and trusts are talked about, but there's no mention of living wills or powers of attorney for financial and health care matters. Those things are relevant for everyone, and do not include numbers that would need updating. I like that there's a whole chapter on consumer strategies, including common scams and how to avoid them. Buying a car gets a section, and buying a home gets very thorough, well thought out coverage. I wish I would have had this resource when buying my first home.

Clarity rating: 5

The text is written in plain English in a matter that is easy to understand. Terms are defined and examples are provided. There are nice charts to organize some of the information. This aspect of the book is very well done.

Consistency rating: 5

Learning objectives are listed at the start of each section, then content, and finally key takeaways and exercises at the end of every section. The format is predictable and easy to follow. Also, as mentioned above, there's a table of contents. I don't see an index or glossary but I think needed information could be pinned down in this easy to follow format.

Modularity rating: 5

Each section within a chapter is fairly short. There are not enormous blocks of text. The flow is nice and modules could be easily assigned in different orders and without having to assign the entire chapter. This aspect of the text is very nicely done.

Organization/Structure/Flow rating: 5

The topics in the text are presented in a logical, clear fashion which is explained in the preface.

Interface rating: 5

Other than the one bad web link (I did not try every single one), I did not notice any interface issues. A few images were small and could be enlarged.

Grammatical Errors rating: 5

The text contains no grammatical errors.

Cultural Relevance rating: 5

I did not notice anything offensive in the text. A variety of examples are provided.

Comments

Overall, this book is well written and easy to follow. Thanks for making it available.

Reviewed by Vaughan Briggs, Associate Professor of Finance, Central Oregon Community College on 8/15/17

Comprehensiveness rating: 4 see less

This text covers all the requisite material that you would find in other texts sold by the major publishers. As mentioned in other reviews, the .pdf version of the text does not have a table of contents, but the online version does. You can get around this by using "CNTRL f" in the .pdf, but it is definitely clunky. A couple comments on the content: I do wish that the formula for present value was made more obvious - that it would stand out from the rest of the text in the same way future value is presented. Also, while there is a considerable amount of information on risk, it is spread out through the text. Additionally, I would like to see a better discussion of how the deductibility of mortgage interest reduces the cost of housing. For instance, paying rent of $1,500/month is actually more expensive than paying a mortgage payment of $1,500/month because of the tax treatment of mortgage interest. Finally, my course outcomes require that I talk about common financial scams and common personal financial mistakes, which are not really discussed in the text. However, in all fairness, not many texts cover this topic.

Content Accuracy rating: 4

I did find a couple of typo type errors such as percentages presented in decimal form when the tables clearly labeled them as percentages. However, those were minor and infrequent.

Relevance/Longevity rating: 4

The basics of personal finance, such as risk/return, and time value of money are timeless. The text presents the material as such. The areas that will bear monitoring are those dealing with tax laws and the evolving nature of health care and its benefits. I do like that the authors have placed URLs below tables that may change in the future, such as tax rates.

Clarity rating: 5

I found the book easy to read and clear in its examples. I found the language of the text to be at the appropriate level for community college students.

Consistency rating: 5

I did not notice any inconsistencies in presentation.

Modularity rating: 3

In the online version, students can access different sections of the text very easily. However, the .pdf version does not allow for the student to easily jump from one section of the text to the other. As mentioned above, you can work through this by using "CNTRL f" but its very clunky and may not be an option for the student that is used to using a hard copy text.

Organization/Structure/Flow rating: 4

The topics are presented in a logical and clear way that makes sense. However, I almost never use a text in sequential order as I usually have a different way of presenting the material based upon my strengths and weaknesses as an instructor. In the case of personal finance, I really like to lay a solid foundation with the concepts of time value of money and risk vs. return, then move on to application of those concepts. This text presents a substantial amount of information on risk, its just spread out through many chapters.

Interface rating: 4

Again, the online version is much easier to use and navigate than the .pdf version.

Grammatical Errors rating: 5

No issues found.

Cultural Relevance rating: 5

This book is not culturally insensitive or offensive in any way. However, I would not be considered a minority so I may not be as aware of those issues as others of a different race or cultural background.

Comments

While I'm happy that the authors have posted a .pdf version of the text so that a professor may organize the material in a way that fits their teaching style, its not very user friendly for students. The online version is much easier to use and navigate. Having said that, there is a ton of great material here to use in a personal finance class.

Reviewed by Amber Lamadrid, Instructor, Portland Community College on 6/20/17

Comprehensiveness rating: 5 see less

The text is extremely comprehensive, including topics that would be relevant to both younger students just starting out with Personal Finance, as well as topics relevant to the older student who has some Personal Finance experience. in this regard it would be easy to customize a course based on the student population in the section. With 18 chapters included, the range of topics is broad enough that the instructor can pick and choose which topics to include and not run out of content.

Content Accuracy rating: 5

I spot-checked random topics for accuracy in mathematical equations (PV, YTM, etc.) and found no errors. Graphical flowcharts make sense and are easy to follow.

Relevance/Longevity rating: 5

This text would be relevant for the foreseeable future, since the text is based on fundamental principles of Personal Finance that don't often materially change.

Clarity rating: 5

The text presents concepts in an easy to read way, without too much advanced terminology that an average student would struggle to understand. Concepts are presented using an unbiased tone, presenting pros and cons when applicable.

Consistency rating: 5

Each chapter and chapter subsection are organized in the same way, maximizing the book's overall consistency. Students would easily get into a "rhythm" with the text, regardless of which chapters are assigned.

Modularity rating: 5

As I mentioned above, there are 18 chapters included... so the text is very modular. No section is too long, which minimizes the risk that students lose interest. Additionally, each chapter sub-section is broken up with graphs, charts, Key Takeaways and Exercises, all in color and with lots of white-space to draw attention.

Organization/Structure/Flow rating: 5

The topics are presented in logical order. Instructors could easily structure a course starting with Chapter 1 and move through the chapters in order, and the course would make logical sense to the student.

Interface rating: 5

No interface issues encountered. I downloaded the book to my tablet and had no issues opening the book, hyperlinking to chapters, etc.

Grammatical Errors rating: 5

no grammatical errors noted, however I did not scour the book with this in mind.

Cultural Relevance rating: 5

As mentioned, the book adopts a neutral tone of voice, free of bias that might be offensive to any racial or cultural group.

Comments

I appreciate the prompts in the Exercises sections to the student to reflect on the topic in their Personal Finance journals. In my course, I use the PFJ as an assessment tool, and students love having a comprehensive examination of their personal finance situation at the end of the term as a takeaway.

Reviewed by Chengping Zhang, Associate Professor of Finance, George Fox University on 2/15/17

Comprehensiveness rating: 4 see less

This book covers a decent spectrum of topics in personal finance and financial planning, such as time value of money, risk, budgeting, tax planning, retirement planning, estate planning, insurance, investing, career planning, etc. The topics are appropriate for an undergraduate personal finance or financial planning course, it also serves as a good reference book for anyone who wants to plan his/her personal finance serious. Two very important topics in finance, time value of money and risk, need to be covered in more depth. I suggest to split chapter 4 into two chapters – a chapter to cover time value of money and another to cover measuring and evaluating risk. Chapter 9 “buying a home” should discuss the advantages and disadvantages of renting versus buying and covers refinancing in more detail. These will help people make better decisions when it comes to buying a home and refinancing a mortgage. Excel is widely used in Business and Finance including in financial planning and analysis. Including some Excel examples and exercises will help readers understand how personal finance can be managed and how financial planning can be done in Excel.

Content Accuracy rating: 3

There are some errors or typos in the text. For example, the mathematical formula of the present value (PV) and future value (FV) relationship on pages 85, 86 and 87 is not correctly presented. The t should be in the exponential position. Maybe the “^” is missing somehow. The definition of “present value” is not accurate (page 83). Present value is not necessarily what is worth today. In time value of money calculations, we define present value as “an early money on a timeline”. For example, if you invested $1000 dollars in the stock market three years ago and your stock account balance is $1300 today, we want to find the implied investment return. In this case, the initial investment $1000 three years ago is the present value. Your current stock account balance is the future value.

Relevance/Longevity rating: 5

The content of this book is relevant and current. The key principles of personal finance and financial planning will not change much over time. Income tax rates and interest rates may change over time but these can be updated easily.

Clarity rating: 3

The text is not very clear and even confusing in some places. For example, on page 82, it reads “It also involves understanding and measuring the risks or uncertainties that time presents and the opportunities—and opportunity costs—that time creates”. How do we interpret “time presents risks and uncertainties” and “time creates opportunities and opportunity costs”? I think there are a lot of other factors involved than just time when discussing risks and uncertainties, opportunities and opportunity costs.

Consistency rating: 4

The text is consistent in terms of terminology and framework. The terms use in each chapter are consistent across the chapter. There are some inconsistencies in table headings and the actual values. For example, the second column in the table on page 91 is meant to show rates (r) in percentage, then 2% should be displayed as 2 in the table instead of 0.02.

Modularity rating: 5

The fact that each chapter in this book is about 20-40 pages long is a good sign of modularity. The authors use a lot of tables and figures to make the text more appealing to read. The learning objectives at the beginning and the key takeaways at the end of each section remind the readers the key concepts in that section.

Organization/Structure/Flow rating: 4

The book starts with a long case in chapter 1. I think using a case to start a chapter is a good idea but this case is too complicated and overwhelming for students who just start a course. Splitting this big case into several small ones and put them at the beginning of relevant chapters will make the book more friendly. As mentioned earlier, I suggest to split chapter 4 into two chapters. Including a chapter directory and an index is also highly recommended.

Interface rating: 4

The PDF version does not have a table of contents. There is no index at the back of the file either. The images and charts are clear, but centering them will make the text look nicer.

Grammatical Errors rating: 4

There is no major grammatical issue. But the clarity can be improved in some places.

Cultural Relevance rating: 5

The text is not culturally insensitive or offensive in any way.

Comments

Overall, this book covers most topics that need to be covered in a personal finance or financial planning text. Some areas, such as time value of money, risk, financing a mortgage and refinancing need to be covered in more depth. Including some Excel examples and exercises will definitely make the book more appealing.

Reviewed by Ronalld Shapiro, Assistant Professor , Rutgers Business School on 2/8/17

Comprehensiveness rating: 4 see less

The book covers a wide range of topics in the analysis and theory of personal finance. The book consists of 18 chapters and covers all relevant topics including financial statements, budgeting, risk management, investing in stocks, bonds and real estate, and taxes among others. The chapters include good examples of basic principles that can be further explained by the classroom instructor. There is no table of contents, index or glossary which weakens the effective use of this textbook. In addition, all of the examples used in this textbook are from 2008 which makes this text currently obsolete. Changes in tax laws and consumer strategies need to be updated to make this a usable text today.

Content Accuracy rating: 3

The text content appears accurate. I found very few errors. However, as noted above, the examples and references to tax laws in particular are not accurate as the laws have changed since 2009.

Relevance/Longevity rating: 4

This is a very good introductory and easy to understand course book to introduce the student to the world of personal finance. While all textbooks must be reviewed periodically to maintain accuracy and relevance, this text will require more constant updating as our laws and principles change.

Clarity rating: 4

There is good use of tables and charts to explain the concepts and calculations. The writing style makes the topics easy to understand

Consistency rating: 4

There is good continuity throughout the book. Terms and definitions are consistently applied. A glossary at the end of the book would enable the student to quickly find a term or definition used in a previous section of the book.

Modularity rating: 4

The arrangement of the chapters are generally in proper sequence. While the book makes extensive use of sub topics with Key Takeaways and Exercise sections within each chapter, limiting these breaks within each chapter might be advisable. The learning objectives in the beginning of each chapter are useful and provide students with advance notice of what they will be learning.

Organization/Structure/Flow rating: 4

The text is properly organized and gradually takes the student into the core of this subject. Financial examples and charts provide a good balance for learning.

Interface rating: 4

The book is written in easy to understand language with clear charts and graphs.

Grammatical Errors rating: 5

There were no issues found with grammar and I found very few spelling errors.

Cultural Relevance rating: 5

This text is not offensive in any way. Its content pertains to US laws and practices only.

Comments

In addition to the book requiring updating to reflect current tax laws and practices, there are other aspects that can be employed to strengthen this textbook and make it more current. Examples would be: (a) demonstrating the use of a financial calculator to solve financial problems; (b) use of accounting software such as Excel; (c) use mini cases to further explain and define principles learned and (d) add more end of chapter problems for student learning and instruction.

Reviewed by Walter Lambert, Adjunct, Metropolitan State University on 8/21/16

Comprehensiveness rating: 5 see less

The book introduces and explains essentially all of the topical material found in most commercial texts or trade books dealing with a first overview of personal finance. The implied audience is anyone needing a professional introduction to the subject, but it is clear from the book's content that the major intended audience is college students at any level in their academic programs. The online nature and licensing style of the book apparently allow the front pieces and index to be deleted but makes the book easily searchable and flexible as an educational resource. A few consistent typos throughout the text indicate a possible software translation hiccup that does not detract from the text's readability or usefulness. An opportunity for the instructor is provided by the book's design. Support activities such as assignments and assessments can be supplemented or developed by the instructor to fit a class at hand rather than a general student population.

Content Accuracy rating: 5

The book's introduction and treatment of subject material is accurate and presents current information in line with professional practice in the personal finance advisory and educational fields as of the date of this review. There is no apparent bias in chapters dealing with subjects of otherwise intense commercial rivalry. Some charts containing data as of the time of publication will need updating in a few years like any other text in the fields of finance and economics.

Relevance/Longevity rating: 5

The book is most relevant to readers and learners with thin financial life experience whether college student or older person. The general focus of the book is on readers or learners currently living through the transition from a financially protected environment to living on their own. Some of the book's content should be immediately relevant especially to the college student, and most of the book's content should become immediately relevant over the decade following graduation. This allows the book to be a primary source for any learner to know what direction to take for more in-depth information over an extended period.

Clarity rating: 5

Material introduced and discussed in the book is clear and devoid of confusing complications sometimes found in textbooks on personal finance. This is a benefit from the authors carefully avoiding the attempt to make the book an encyclopedia on the subject.

Consistency rating: 5

Individual chapters are stand-alone in the sense that there do not appear to be prerequisite linkages between them. This contributes to the book's flexibility in course design. There also does not appear to be some type of underlying theory or ideology that might create inconsistencies either between topics within the book or between the book and reality. Terminology and the pedagogical framework are consistent throughout the text.

Modularity rating: 5

Having each chapter as a stand-alone unit contributes to the book's modularity in terms of course design and subject matter sequencing. That includes the flexibility for instructors to not use some chapters if the need arises.

Organization/Structure/Flow rating: 5

Organization of subject matter within the text follows a more or less standard pattern easily followed by a learner with chapters grouped by a main focus such as asset protection or wealth building. The instructor has the option of either using the text from front to back or of altering the subject matter sequencing to satisfy an alternative program of presentation.

Interface rating: 4

The on-screen appearance and layout of the book are clear, easily readable, and searchable. One exception might be an occasional typo apparently caused by an electronic hiccup when moving from one electronic platform to another.

Grammatical Errors rating: 5

Grammar within the text is accurate and simple. A learner using English as a second or third language should have few grammatical challenges when reading this book.

Cultural Relevance rating: 4

The book is written within the context of the personal financial environment of the United States. It is inclusive within that environment. The peculiarities of personal finance within the US probably do not lend themselves to relevancies outside the US. A few of the topics introduced and explained in the text such as personal debt, life insurance or earned interest might not be relevant to some cultural or ethnic groups within the US. Those situations can be addressed by the instructor as the situation dictates.

Comments

The text is a fairly comprehensive overview of personal financial common practice within the United States. It addresses all of the major topics confronted by the average American family at sometime in its life, and provides a starting point for more in-depth learning on particular topics as they become more immediately relevant. The pedagogical perspective is similar in that the book is like both sides of a sandwich. It gets instructor and learner started, but it is up to both to provide the makings, which provides the creative instructor a wide degree of flexibility and the serious learner an even broader opportunity.