Money Basics

Money BasicsTerry Savage
Every woman needs her own money!

The age that you start saving / investing will determine how much wealth you build. It is important to educate yourself. You care more about your money than anyone else.

How to Make your money grow!

  • Start early to get control of your finances by setting goals.
  • Don’t purchase things that you cannot afford; that means the things you don’t have the money to pay for.
  • Don’t borrow money except for your education, car and/ or home.
  • If you owe money on your credit card(s) pay this debt off ASAP! You can never get ahead until you pay off your credit card debt.
  • Fund your 401(k) to the maximum (qualifies as savings).
  • Fund your IRA to the maximum (qualifies as savings).
  • Put six months’ expenses in a money market fund.
  • Buy a house if you want to live in a house and you can afford it (qualifies as savings).
  • Get term life insurance if you have a family to support.
  • Make a will.

“…tips cover saving, spending, earning, investing, taxes, business, entrepreneurship, professional development, financial feminism and lots of other things.”