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Posted by Christopher (MONEY FORUMS: 3, Answers: 0)
Asked on September 8, 2015 1:31 pm
MAKE AND RETAIN LOTS OF MONEY. The ancillary stuff will take care of itself.
So what's your plan to make lots of money?
Here are several steps you can take:
1. Open up your own checking/savings account
2. Secure work
3. Build a cushion of savings, to help you move out
4. Build your credit, through responsible use of a credit card or repaying student loans.
5. Spend less than you earn.
Hi Christopher. Great question! For most people starting out the key is to understand your finances and plan through a budget. A budget simply details what you have coming in (income) verses what you have going out (expenses). When figuring out what you can spend out of your income leave a cushion for unexpected expenses and also treat savings as an expenses - it is as important as anything else in the budget. By planning carefully you can avoid the common mistakes of committing to more than you can afford. Plan carefully and stick with the plan!