Smart money management sets you up for a bright (and secure) future. Some of these are less expensive the younger you are so take advantage of your youth to save some money. 10 Smart Money Moves To Improve Your Finances in 2023 Create a Budget Review your Portfolio on a regular basis Invest from a Young Age Make wise Tax. Think about medical, renters, disability, and life insurance. Insurance helps protect you, your stuff, and your savings/emergency fund. Smart Money Moves Following a Raise Pay Off Credit Card Debt Start or Increase Retirement Savings Boost Emergency Savings Treat Yourself (Just Dont Go. Again, no one expects anything bad to happen but unfortunately, it does. Don’t leave that money sitting on the table! To get the maximum amount of match, you must put in 6%. so, your employer matches half of whatever you contribute but no more than 3% of your salary total. Every 401K plan is different, so you need to check with your employer for the details, but the most common match provided by employers is 50% of what you put in, up to 6% of your salary. Compound Interest is Like Financial Magic Invest & Watch Your Show 2. If your company offers a 401K match, take full advantage of that FREE money. 9 Smart Money Moves to Make in Your 20s 1. You don’t want to play catch-up with your retirement savings so start investing early so you can start small and let your money work for you through the magic of compounding. Retirement seems SO-FAR-OFF but before you know it, you will be in your 50’s and wondering how you can afford to retire. CALLED Magazine and CALLED Digital Media are divisions of CALLED, Inc. If you can save more, do it and keep it in a separate account so you don’t spend it. Saving 3-6 months of your take-home pay is a smart way to prepare for an emergency. ![]() In your20’s, you can’t foresee losing your job or dealing with a medical emergency but the Social Security Administration says that 25% of 20-year-olds will become disabled for some period of time before they retire. Once you are free of those burdens, you can start thinking about making larger purchases such as a new car or your first house! If you’ve got student loans or credit card debt, pay it off as quickly as possible. 20% to your future – paying off debts, saving, and retirement.30% to your wants – travel, dining out, etc.50% to your needs – housing, utilities, food, and transportation.Know what income you have coming in and then divide up your expenses as follows: This is a rough plan for a financial budget to direct your money toward your goals. are not responsible for any decisions made by any party or person who visits this site. Here are some smart money moves you can make now to set yourself up for financial success in the coming years. Office Phone 53 M-F 8-5 PST Direct Phone 54 Disclaimer:, S &/or Smart Money Moves. ![]() You may be thinking, “I’ve got time” but the longer you wait, the less time you have to let your money work for you. So, now’s the time to lay the foundation for a secure financial future. Unless you hit the jackpot, you will probably work for the next 30-40 years. Let’s face it, when you are done with school and entering the workforce as a full-time employee, you’ve got a lot of “work years” ahead of you.
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