You may be in your twenties and still establishing your financial practices, fresh from a divorce or bankruptcy, or just looking for a fresh start, but either way there are some important financial habits and strategies to adopt that will set you up for wealth and peace of mind as you move into the next stage of your life.
I don't need to tell you how hard it is right now to find a good place to invest your money. Yet every day you're probably staring at a great investment when you look in the mirror. If you're like most people, you are your greatest asset, and investing in yourself and your career are your greatest investment opportunities right now.
We have our health checked periodically because it just makes sense. We want to head off any problems, check in on any little worries and basically just take care that we are doing what we can to preserve our health. When it comes to our financial health, the same applies. If you haven't given yourself a quick financial health check-up in a while, it's time. Here are the three check-up steps to take:
I was out shopping this past weekend with my wife and twice I was stunned to see so many people, even now, continue to spend their money in the same ways they always have.
When it comes to my money, the idea of trades has always been central for me. I guess it started when I was a kid and my father set me up with a paper route and told me I was responsible for buying what I needed other than the roof over my head and food. Well, it was harsh, but I sure learned quickly. I recognized that if I spent money on one thing, then that money wasn’t available for something else. It’s like if I buy the candy, I’d have traded away the new socks until a later time.
When I was in my early twenties, newly married and starting out, there were not the insurance options that there are today. You were expected to insure your car, your home if you owned one, life insurance if you had a family, and to have health coverage, but that was it. These days there are so many kinds of insurance. You can choose to insure your travel, your pet, your wedding, and your purchase of almost any size. Are these new insurance options good things?
