Brought To Book

This book wears its point on its cover. It features three twenty-somethings in what a publisher would consider trendy gear, striking an attitude that's a cross between Steps and the Backstreet Boys, coyly cute and cuddly aggressive.

In fact, the whole thing reeks of "coolness", or what some bloke in a suit reckons is hip. Throbbing pink cover, lower cases where upper cases should be and all done up to look like Douglas Copeland's Generation X.

Then again, I don't think this is aimed at the tranced-out jaded clubber, but rather at somebody who has just finished college and is already thinking about PIPs and PEPs, AVCs and what the euro's continued weakness is going to mean for their job prospects.

It kicks off with some splendidly down-to-earth advice. Going to college will cost, whether you are paying the fees or not. There's books, accommodation, travel, food and, of course, entertainment.

The first thing to do is not to borrow any more than you need, and the second thing to do is get a job. Even the smallest inflow of cash during the year will help reduce the debt. Also, plan that during the holidays you will actually work and not bum around Europe or the States odd-jobbing, unless, of course, your parents are loaded.

When borrowing, check out the various packages and don't jump at the first one that offers the WAP phone. The dotted line you sign on will be the bottom line for many years and should be taken seriously.

It then canters through all the pitfalls of plastic, that extremely seductive invention of the late 20th century. Credit cards are useful if (a) you have wads of cash or (b) are extremely disciplined. If none of the above, don't apply.

Having survived the hassles and fun of being at college, the guide then really gets into the meat of the issue and gives very sound advice on what to look for in your first job. I wish I had been told this 10 years ago and I wouldn't be driving a seven-year-old Sunny now. It outlines the benefit list that should top your agenda when judging your remuneration package.

The basics are: pension, life assurance and disability insurance. The extras are: company car, share schemes and stock options. Two useful tables are also provided in this section so you can add up all the benefits and see how much they are worth.

Don't take salary as the bottom line, look at the benefits also. Pension and life assurance should be major factors and, remember, stock options are a form of golden handcuffs.

For those of us who looked for a job in a climate when it was seen almost as a privilege, this calculated and hard-headed approach seems alien, but if one is to believe the hype about modern Ireland then this avenue makes perfect sense.

The guide then works its way through all the options available to you once you've earned your first paycheque. It examines whether to buy or to rent, the types of mortgage available and what the pitfalls of each decision are. Once you've got a roof over your head the next thing to do is decide what to do with any spare cash, to save or invest. It gives exhaustive advice on securities, equities, bonds, gilts and shares.

The book has quite a good section on ethical investment for those who, when they reach this stage, still have some idealism left. It also reminds us that, like death, taxes are inevitable.

The guide, despite its trying-to-be-funky design, is extremely useful. One of its more endearing points is the pop-culture quotes dotted throughout.

The wisdom of such luminaries as Toxic Avenger, Spiderman, Egon from Ghostbusters and The Monkees is available and quite appropriate.

I don't know how useful such a ploy is, as the two Arts students I tried them on looked blankly at me, but personally I enjoyed them, though I remember them from the first time around.

Those caveats aside, this is an extremely worthwhile book, packed full of handy and accessible information. Though aimed at the UK market, it is easily applicable here. Hand it to your offspring along with the CAO replies when they arrive in a couple of weeks. That should wake them up.

Conn O Midheach comidheach@irish-times.ie