If you’re in your 20s, rejoice! You’re in a great position to create the life you want, starting with a secure financial future. While it’s common to feel overwhelmed when entering the workforce full time, there are a lot of things you can do fresh out of college that will help you attain your professional and financial goals earlier than you may expect. Here are a few suggestions to help you get started:
If you’ve spent more than five minutes on a kid’s television network, you’ve seen just how inundated young kids are with commercials for everything from the latest gadget, to some dreadful snack that features something gooey and/or messy. It’s also safe to bet that many of these kids run to their parents, wanting to buy some or all of these items.
Whether you’re earning a six-figure salary or just out of college, creating and maintaining a budget is a must. Having a budget that you actually use can help keep spending under control, bolster your savings account, adequately plan for retirement, and keep debt at a manageable level.
Creating the budget is actually the easy part. But how do you create a budget that you’ll actually use? One of the keys is your mindset. Stop looking at a budget as a negative and look at it as the way to reach your financial goals.
You’re on the verge of completing your paperwork when the dealer hits you with one more option: an extended warranty. While the thought of never having to pay for auto repairs as long as you own your car is definitely appealing, there’s a lot that auto dealers are not telling you when it comes to extended warranties.
*This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel.
In a recent survey by JumpStart Coalition for Financial Literacy, only 26 percent of those between the ages of 13-21 said that they had been taught how to manage money. Yet, when they turn 18, kids are signing contracts for student loans, opening credit card accounts, and in many instances, living away from home with little financial guidance available.
It seems like we’ve been conditioned to shop since birth. While an occasional splurge is nothing to get worked up about, we’ve become incredibly wasteful in the process. Landfills from coast to coast are full of our discarded belongings such as furniture, equipment, appliances, and electronic items like computers and cellphones. We no longer repair an item, we simply replace it. Some of our spending habits can certainly be tied to the incessant marketing and advertising that target consumers on a daily basis.
While the name may be amusing the reality of zombie debt is anything but funny. Zombie debt is old debt that has been written off years ago, only to be sold to debt collectors for pennies on the dollar. In many cases, the debt is years old, and may not even be valid.