• Set a finance goal. You can start by setting a short-term goal and then thinking about a long-term goal in the future. You will need money to live comfortably after retirement.
  • Start an Emergency Fund. This is critical because life can be unpredictable and it is important to be prepared.
  • Save, save, and save. Every single penny adds up. Use a clean glass sauce jar. After you finish the sauce, wash it and put your change in it. There are a few “save a dollar challenges”. For example, start by saving just $1 in the first week of the year. Then gradually increase your savings by a dollar a week throughout the year. So you will save $2 in week 2, then $3 in week 3, and so on.
  • Protect your money. Besides a checking account, think about opening a savings account. A savings account allows you to earn interest. However, your savings is taxed as ordinary income every year.
  • Pay your bills on time. Even if you can only pay the “maximum” amount. If you are in debt with your creditor, you can call them and negotiate on a payment agreement. You do not need more than two credit cards.
  • A living will is a written, legal document that explains your medical treatments to keep you alive. However, a last will or testament expresses your wishes as to where your property and/or assets will go after your death.
  • Budget your money. If you work, pack a lunch instead of ordering out. Do not spend money just to spend it.
  • Sell items you have and do not use. Have a tag sale. Post your items on eBay, Amazon, Craigslist, Facebook, or Letgo. Just make sure you have a PayPal account if you are selling items online. PayPal is a fast and secure way to receive your money.

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