AN EASY GUIDE TO PERSONAL FINANCE
It is important to know some the simple basics to personal finance.
Budgeting
Version 1: Spend less than you make.
Version 2: Make more than you spend.
Credit Cards
Don't charge more to a credit card than you can payoff each month.
If you do get a credit card, get one from Southwest Louisiana Credit Union as there is no annual fee, a fixed rate and rewards.
Credit Score
Pay all your bills and pay them on time. If you have medical bills, make payment arrangements immediately if you cannot pay the balance in full.
Investing
Invest in low-cost index funds or conservatively invest in Credit Union Certificates of Deposits. If you have less than $15,000 saved, the Kasasa Cash checking account is always a great option.
Retirement
Contribute to your company's 401(k) plan up to the company's match. Then max-out a Roth IRA at Southwest Louisiana Credit Union
Car Buying
Buy the smallest-class car that fits your needs that is two to three years old and is among the top three with the least lifetime costs for its class.
All of the above is not all that you need to know, but those are the basics. In reality, finances are more complicated than that, since they need to be tailored to your specific needs. However, knowing the basics will help you stay on track!
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