12/12/2023 0 Comments Gj sentinel graduates![]() ![]() Embrace technology to ease your financial journey. While balancing a checkbook is a valuable skill, there are user-friendly budgeting apps and tools available that make managing your money easy. A significant portion of people find balancing a checkbook challenging. It is never too late to learn and the more informed you are, the better your chances of creating a strong financial future.īalance your checkbook. Learn about their experiences in managing money and from their mistakes. Seek out someone who can teach you some of the skills you need. Contribute to retirement accounts and take advantage of employer-matched contributions if available.įind a mentor for financial literacy. It’s never too early to start saving for retirement. Many people are unprepared for retirement, leaving them facing financial challenges in their golden years. ![]() Many financial obligations over your lifetime will be spelled out in a contract. Stuart Rohatiner is a partner with Gerson, Preston, Klein, Lips, Eisenberg & Gelber, PA. Others follow the 40/30/20/10 rule - 40% of income should go towards necessities, 30% should go towards discretionary spending, 20% should go towards savings or paying off debt and 10% should go towards charitable giving or other financial goals. Divide your take-home income into suggested spending in three categories: 50% of net pay for needs, 30% for wants and 20% for savings and debt repayment. To help with budgeting, some follow the 50/30/20 rule. Then, set aside funds for savings and discretionary spending, like entertainment and dining out. Allocate money for essentials like rent, groceries and bills. Start by listing your sources of income and all your expenses. Burstein is a partner with Gerson, Preston, Klein, Lips, Eisenberg & Gelber, PA.Ĭreate a budget and stick to it. To highlight financial literacy awareness, we have compiled some basic suggestions to set you on the path of financial success. ![]() Studies reveal that individuals with higher financial literacy levels tend to make better financial decisions, leading to greater financial security and improved overall well-being. Financial literacy empowers us to make informed decisions, save for the future and achieve our financial goals. Embracing financial education is the key to unlocking doors of opportunity and financial freedom.īut students aren’t the only ones who can use a little education on money matters. Just last month, Connecticut became the 22nd state to enact personal financial curriculum as a perquisite for high school graduation. The new school year is almost here, and for the first time, incoming high school students will be required by state law to take a financial literacy class to graduate. ![]()
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