Hi Erin!
So glad you asked this question! Here are a few thoughts:
1. Open up an IRA account. Here is a link to some basic info on IRAs. http://money.cnn.com/retirement/guide/IRA_Basics.moneymag/index12.htm . An IRA is an excellent way for your to start building wealthy today, while enjoying some tax benefits! It’s amazing what contributing even $100 per month can do for you over time – especially if you start in your 20s! check out http://womenwealthywise.com/blog/put-your-money-to-work/#.U8qvb41dVhs
2. Establish an Emergency Fund Account and set a goal to save 6 months worth of living expenses.
3. Create a budget and, most importantly, learn creative ways to implement your plan!
4. Commit to using only cash. Credit cards debt will sabotage your financial health! If you have outstanding balances, come up with a strategy to pay them off.
5. Begin to familiarize yourself with basic financial terms and concepts -- knowledge is power!
Feel free to email me at [email protected] if you have questions or want some additional info.
-Steph Wagner, Founder and Financial Expert at www. womenwealthywise.com.
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Hi Erin!
July 19, 2014 - 10:49amSo glad you asked this question! Here are a few thoughts:
1. Open up an IRA account. Here is a link to some basic info on IRAs. http://money.cnn.com/retirement/guide/IRA_Basics.moneymag/index12.htm . An IRA is an excellent way for your to start building wealthy today, while enjoying some tax benefits! It’s amazing what contributing even $100 per month can do for you over time – especially if you start in your 20s! check out http://womenwealthywise.com/blog/put-your-money-to-work/#.U8qvb41dVhs
2. Establish an Emergency Fund Account and set a goal to save 6 months worth of living expenses.
3. Create a budget and, most importantly, learn creative ways to implement your plan!
4. Commit to using only cash. Credit cards debt will sabotage your financial health! If you have outstanding balances, come up with a strategy to pay them off.
5. Begin to familiarize yourself with basic financial terms and concepts -- knowledge is power!
Feel free to email me at [email protected] if you have questions or want some additional info.
-Steph Wagner, Founder and Financial Expert at www. womenwealthywise.com.
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