How
to Take Care of Your Money So Your Money Takes Care of You
In Your 20's
Step1
- The road to financial freedom is to
have great health so that you are in good shape
to learn.
Step
2 - An open mindset to start learning
and practicing what you have learned.
Step
3 - Investing your time in your
financial & health education so that you
are in control of your life to create wealth to
enjoy a better life.
Step
4 - Enjoy the wealth that you have
created because you have been taking care of
your health.
In your 20s…
Master your credit score
It determines the interest rates you'll get on loans
and credit cards, and a good one—above 720—will
save you money throughout your life. Visit myfico.com
to get your score, understand how it's calculated, and
learn how to improve it.
Enroll in your company 401(k) plan
Most companies match your contribution; by not
enrolling, you're virtually throwing away free money.
The secret to investing is giving your money time to
grow. If you delay saving for 10 years, you'll be
hard-pressed to make up for lost time. If you're
self-employed, park a Roth IRA or a SEP-IRA at a
discount brokerage such as Muriel Siebert or a
low-cost fund company like Vanguard or Fidelity.
Pay off credit card debt
To calculate the shortest and most effective route to
becoming debt-free, visit bankrate.com's Credit Cards
section.
By Suze Orman
2006 (c) creditplushealth.com
Credit Plus Health By Sean Toh All rights reserved.