Taking Charge (2nd ed.), Chapter 3.3

Handling Your Money Wisely Section 3.3: Professional Financial

Management

Taking Charge: Chapter 3

© 2010 TSTC Publishing

Career MoneyWith more money comes more financial

responsibilityMust manage

Personal day-to-day financesShort term savingsRetirement funds


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


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


TipsReevaluate your goalsDon’t spend it just because you make itForm a slush fund

A savings account from which money flows in and out


TipsTake advantage of company sponsored

savings planKnow your optionsDon’t get penalized


TipsDon’t forget insuranceContinue to pay cash


Final Thoughts A solid plan of how to spend, invest and

save will prevent financial stress“Fail to plan, plan to fail”


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?


Additional ResourcesThe Motley Fool

http://www.fool.comShare Builder

http://www.sharebuilder.comYOUNG MONEY

http://www.youngmoney.com


Education

Taking Charge (2nd ed.), Chapter 3.3