Even if you know a lot, its tone, its rules of thumb and its great summaries really help you evaluate where you are as a young adult. Well worth the money.
Point by point:
-- CC Debt is slavery, pure and simple. If EVER one carries a CC balance, it should be for an emergency (a true one) or a short-term, well defined need with a known plan and payoff date. I speak as someone who has almost $2000 a month in CC debt bills for the next two years, if I can keep myself under control.
I have to add: I don't know where the $50,000 in debt I racked up in the past 10 years went. I can look around and see some stuff. A lot of books, some guns, furniture, and a few computers. I have a well furnished abode. But so much of it was liquor, food, and beer that it's infuriating to think where I could be now if I hadn't done that.
-- General advice on how to budget for retirement. Protip, get a 401k or Roth IRA.
-- Once you are CC debt free and have a retirement plan built, make sure your emergency fund is built up. Try to increase contributions each time you get more money. Note: Roth IRA principal contributions are available for withdrawal penalty-free at any time, so again, take care of that first IMO.
-- Long commutes... this is tough! All things equal, it's true they're a burden, esp. if you're driving. Time, gas, safety, money, all used to go to and from work. On the flip side, it may be worth it if you can live in an area that truly brings happiness when you're not at work. So ideally... you would work and spend your leisure time in the same general area, by this advice.
-- Spend money on durable and/or resellable things, if you like to spend money. The idea being, if you have a personality that likes spending money, at least you can spend it on something from which you can get your money back.
-- People who like eating out often do it in order to be around people and socialize. If possible (aka if you have friends who like the same food) one good idea for saving money and satisfying the social need is to bring people over.
-- Try to put a fence around blowing your money on gambles.
And this advice is from older person to younger self, so it's obviously from someone who struggled with debt and spending as a young person.
And my #1 advice: READ THIS BOOK!!! Get a Financial Life: https://www.amazon.com/Get-Financial-Life-Personal-Twenties/...
Even if you know a lot, its tone, its rules of thumb and its great summaries really help you evaluate where you are as a young adult. Well worth the money.
Point by point:
-- CC Debt is slavery, pure and simple. If EVER one carries a CC balance, it should be for an emergency (a true one) or a short-term, well defined need with a known plan and payoff date. I speak as someone who has almost $2000 a month in CC debt bills for the next two years, if I can keep myself under control.
I have to add: I don't know where the $50,000 in debt I racked up in the past 10 years went. I can look around and see some stuff. A lot of books, some guns, furniture, and a few computers. I have a well furnished abode. But so much of it was liquor, food, and beer that it's infuriating to think where I could be now if I hadn't done that.
-- General advice on how to budget for retirement. Protip, get a 401k or Roth IRA.
-- Once you are CC debt free and have a retirement plan built, make sure your emergency fund is built up. Try to increase contributions each time you get more money. Note: Roth IRA principal contributions are available for withdrawal penalty-free at any time, so again, take care of that first IMO.
-- Long commutes... this is tough! All things equal, it's true they're a burden, esp. if you're driving. Time, gas, safety, money, all used to go to and from work. On the flip side, it may be worth it if you can live in an area that truly brings happiness when you're not at work. So ideally... you would work and spend your leisure time in the same general area, by this advice.
-- Spend money on durable and/or resellable things, if you like to spend money. The idea being, if you have a personality that likes spending money, at least you can spend it on something from which you can get your money back.
-- People who like eating out often do it in order to be around people and socialize. If possible (aka if you have friends who like the same food) one good idea for saving money and satisfying the social need is to bring people over.
-- Try to put a fence around blowing your money on gambles.