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Strategies to Set Up Adult Teens For Financial Success

Posted by Melissa Batai on Feb 22nd, 2022 · 0 Comment

When your child turns 18 and becomes an adult, that’s the perfect opportunity to spend a day or two setting him up for a bright financial future. Of course, hopefully, you’ve been teaching him financial lessons throughout his childhood. Our son will turn 18 in just a few months, and we plan to use strategies to set up adult teens for financial success. Set Up a Budget The first step is...
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Do You Want To Build Credit?

Posted by Joe Wallace on Jul 16th, 2020 · 0 Comment

Do you know what to do to build credit and establish yourself as a good credit risk? Believe it or not, the way you approach a small line of credit can make a big difference later on when it’s time to apply for an auto loan or a mortgage. And if you are not a newcomer to credit, consider this article a good primer for teaching someone else about building credit–I personally know many...
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Here are some simple guidelines that will help you build wealth:

1) Do the math. Get a budget and calculate your net worth

2) Get an emergency fund. Save at least 6 months worth of expenses

3) Limit costs. Spend no more than 30% of your income on housing

4) Max your retirement. Maximize contributions to your tax-deferred retirement accounts

5) Pay yourself first. Set aside money for yourself before you take care of your other bills

6) Set goals. Goal let you get ahead faster

7) Avoid high interest debt. Avoid credit cards, title loans and other usurious loans

8) Diversify. Diversity your assets.

Strategies to Set Up Adult Teens For Financial Success

Do You Want To Build Credit?

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