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How to Keep Your Finances in Check When You’re On Your Own for the First Time
Going out into the world on your own for the first time can be a scary thing, especially in today’s climate. With so many
Fortunately, there are several things you can do to ensure that you and your finances stay healthy as you move forward in life. While it can be daunting to jump into something so foreign to you, such as saving money to buy your first home, keep in mind that these days there are
Save, Save, Save
It’s an inevitability that comes with adulthood: saving money and creating a budget. One of the best ways to invest is to buy a home, but it takes time to
Handle Credit with Care
Credit scores are very sensitive things; having too little credit is just as bad as having too much, so it’s important to find a happy medium. A good way to get started is to download a credit-monitoring app that will help you stay on top of your score. Be careful about which types of credit you open; it might be tempting to agree to a credit card offer from your favorite store when it gets you a discount, but if the interest rates are sky-high, you’ll probably regret it down the road. Read the fine print carefully, and stay on top of
Protect Your Identity
In this day and age, it’s not always easy to fully protect your identity. Almost everyone has social media accounts, online payment profiles, and apps that record information on their phone. Sadly, this internet presence means your
Prepare for the Unexpected
It’s not easy to think about, but accidents and unexpected situations do happen. If you’re planning on starting a family one day, then purchasing a life insurance policy should be something you look into to protect your family’s finances if you pass. Term life insurance policies, in particular, can be fairly inexpensive the younger you are, and you can lock in your rate and pay the same premium for the life of the policy. Even if you’re single, it may also be worth considering burial insurance. If you and your family don’t have a lot of savings, a policy could
Don’t Ignore Warning Signs
It’s often easy to put off taking care of something in favor of saving money, but for the most part, you’ll be better off in the long run if you just handle it right away. This applies to everything from car problems to health issues, so don’t ignore those warning signs. If something seems off, have it checked out right away, and
It’s not easy to think about, but accidents and unexpected situations do happen. If you’re planning on starting a family one day, then purchasing a life insurance policy should be something you look into to protect your family’s finances if you pass. Term life insurance policies, in particular, can be fairly inexpensive the younger you are, and you can lock in your rate and pay the same premium for the life of the policy. Even if you’re single, it may also be worth considering burial insurance. If you and your family don’t have a lot of savings, a policy could
*This is a post from a guest writer unaffiliated with The Ivy League Advisory Group, LLC. Any views expressed by guest writers does not necessarily reflect the opinion of The Ivy League Advisory Group, LLC.
