Handling Your Money Wisely Section 3.3: Professional Financial
Management
Taking Charge: Chapter 3
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Career MoneyWith more money comes more financial
responsibilityMust manage
Personal day-to-day financesShort term savingsRetirement funds
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Back to BasicsAvoid temptation to buy, buy, buy just
because you canLoans come with high interest ratesAdjust income levels to your new salaryRemember student loan payments
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Back to Basics (cont.)Once you have a baseline of your income
and debt obligations, think carefully about which items you most need to purchase
The 2010 Health care insurance reform changed many things, so be sure to find out what your new regulations are
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TipsReevaluate your goalsDon’t spend it just because you make itForm a slush fund
A savings account from which money flows in and out
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TipsTake advantage of company sponsored
savings planKnow your optionsDon’t get penalized
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TipsDon’t forget insuranceContinue to pay cash
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Final Thoughts A solid plan of how to spend, invest and
save will prevent financial stress“Fail to plan, plan to fail”
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Further ReflectionWhat is a benefit and how does it work?List as many consequences of debt that
you can think of. How have you learned to avoid debt?
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Additional ResourcesThe Motley Fool
http://www.fool.comShare Builder
http://www.sharebuilder.comYOUNG MONEY
http://www.youngmoney.com
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