|
 High
school grad heading into the workforce: Build your first budget
By
Bankrate.com
The biggest financial challenge
right now is to learn how to manage your cash in, cash out.
If you get in the habit of budgeting your income, you'll always
be able to scrape together a little play money. Create a flexible
spending plan that can be revised as needs and goals change.
Just keep your finances simple and clean. Nip bad money habits
in the bud.
Links:
Make
a money-smart spending plan, Control
your money, How
to create a budget, A
budget worksheet
Set up a checking
account
It's easier to track your spending if you keep your earnings
in a checking account. The bank will send monthly statements
for you to check against your checkbook ledger. Look for a
free checking account. Once you're comfortable using your
checking account and can balance a checkbook, apply for a
debit card. A debit card looks and acts like a credit card,
but is tied to your checking account. These skills will prepare
you for successfully using your first credit card.
Links:
How
to choose the right account, Anatomy
of a checking statement, 7
ways to avoid a bounced check, The
ins and outs of debit cards |
