Starting Out

Create Healthy Money Habits

• Become a disciplined saver: Save an amount from each paycheck.

• Pay off your credit card: They’re handy, but never carry a balance — even for a month.  If you can’t afford it, don’t buy it (use creativity for expensive situations).

• Balance your checkbook: Figure out exactly how much money you have.

• Ask for holiday and birthday gifts to be deposited into a Roth IRA: Set up your account and have it ready!

• Pay your bills on time.

Get Serious About Your Budget

• Budget, budget, budget: Make informed decisions about what you’ll buy, and put it on paper to follow through. Make sure it follows long-term plans.

• Pay yourself first: You’d be surprised how effectively this works.  If you put 15-20% away for retirement before paying other bills, you can make it work.

• Check on insurance: Do you have everything you might need? Consider life insurance if you have a family that depends on you, or disability insurance for your own security.

• Consider buying a house if you are in a position to do so financially and live in a situation that makes a home purchase a reasonable investment.