Step By Step Guide to Managing Money
What should I do with my money? Where should I put all my savings? Where do I put the extra money that I have?
What Should I Do With My Money?
1. Pay off debt. 2. Save for the future.
Life Happens Fund
Because Life Happens, and you can’t possibly plan for everything. It can be in a checking account or a simple savings account.
Start stashing money away in a retirement fund. There are many different types of retirement funds that will be good for different people depending on their income, age, and expected tax obligations.
3-6 Months Savings in a High Yield Savings Account
This money is the Emergency Fund. Take all your expenses, multiply that by 6, or take only the bare minimum and multiply by 3.
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