The Graduation Guidebook: What Every Student Needs to Know About Money and Life

By Kathryn Nermoe

"Reading this guidebook feels like having a wise, trusted mentor walk you through the essential lessons of adult life. With clarity and heart, Kathryn Nermoe gives students the skills they need to thrive financially and live with intention."

Julene D. Nolan, Psy.D., LP, Nationally Certified and Licensed School Psychologist, Minneapolis, MN

• Language: English
• Publisher: Latitude 13
• Release date: Jun 1, 2025
• ISBN: 9798218633219

Kathryn Nermoe

Kathryn Nermoe is a #1 Amazon Civics and Citizenship Bestselling Author, business founder and owner, and has held executive leadership roles in the public, private and non-profit sectors. Her latest book, "The Graduation Guidebook: What Every Student Needs to Know About Money and Life," was built on the potential she sees in a more financially literate America. She believes the prioritization of financial literacy is a paramount educational system and parenting responsibility, and a life-long foundation required for all Americans to thrive.Nermoe holds a bachelor's and master's degree in Public Administration.

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Cover of The Graduation Guidebook by Kathryn Nermoe

The Graduation Guidebook © copyright 2025 by Kathryn Nermoe. All rights reserved. No part of this book may be reproduced in any form whatsoever, by photography or xerography or by any other means, by broadcast or transmission, by translation into any kind of language, nor by recording electronically or otherwise, without permission in writing from the author, except by a reviewer, who may quote brief passages in critical articles or reviews.

Latitude 13, LLC

ISBNs: 9798218633202 (paperback) 9798218633219 (ebook)

Cover and book design by Mayfly book design

Library of Congress Catalog Number: 2025909908

First Printing: 2025

May your choices reflect your hopes, not your fears.

Nelson Mandela

Table of Contents

Prologue

Introduction

Your Life Picture

Making the Right Decisions at the Right Time

Chapter One: How You Think About Money and Wealth

Money Mindset

The Definition of Wealth

Savings Accounts

Saving $250/month for 10 Years

Mindful Spending

Spending Influences

Translating Purchases into Hours Worked

Basic Needs vs. Wants

Chapter Two: Your Career Choice Matters . . . a Lot.

High School Graduation

Income and Careers

Chapter Three: How Taxes Work

Federal Taxes

State Taxes: Where you live also matters . . . a lot.

Local Taxes: Local Governments and School Districts

Chapter Four: Loans

Borrowing Money is a Big Deal

Credit Cards

Appreciating Assets

Interest Rates

Inflation

Building Your Credit

Buying vs. Renting a Home

When to Buy vs. Rent

Mortgages

Understanding a Rental Lease

Housing Costs

Buying vs. Leasing a Car

Do you need your own car?

Leasing a Vehicle

Buying a Vehicle

Chapter Five: Investments, Retirement and the Stock Market

Invest Early

Retirement

Social Security

How the Stock Market Works

How does the stock market, or stock exchange, work?

What’s a security?

The SEC

The S&P 500

Dow Jones Industrial Average

The Nasdaq

Investment Scenarios

Chapter Six: Insurance

Medicare and Medicaid

Healthcare Marketplace

Healthcare Savings Account

Long-term Care Insurance

Life Insurance

Disability Insurance

Social Security Disability

Auto Insurance

Umbrella Liability Insurance

Chapter Seven: The Cost of Having Children

Conclusion: Blessings

Prologue

Various studies and surveys over the years have consistently revealed that about half of American adults cannot pass basic financial literacy tests.¹ This should be of major concern—and arguably a top priority for parents and education systems.

The purpose of this book is to help bridge that divide by not only better preparing our graduates for real-life financial situations, but positioning them to successfully obtain the quality of life they dream of after graduation.

Thriving financially allows you to thrive in almost every other aspect of your life. It’s a life-long foundation required to live life to its fullest.

Introduction

Your Life