5 Expert Money Management Tips For Young People You May Not Have Heard Before
Adulting is no easy business. We're lucky that our families have supported us throughout our education. But once we graduate, it's time for us to take control of our own spending!
Yes, we're aware it sounds intimidating... That's why we did a little research and put together some expert tips from Kathy Longo, a financial professional and author of Flourish Financially - Values, Transitions and Big Conversations. Just make some tweaks here and there, practice each tip and take it a day at time! You'll be all set.
Ready to be independent? It'll be a total boost in your confidence, we know that's for sure!
good or bad debt?
Nobody likes the feeling of being in debt. But Kathy tells us that there is good debt and bad debt.
Good debt is when it benefits you in the long term. Think mortgage to buy a home or student loans for a better future ahead. According to Kathy, these are debts worth having because you’ll get to live more comfortably and build a career for yourself.
Bad debt is when it accumulates from the spending you’ve made on things you don’t really, truly need.
Kathy advises that you need to be cautious of bad-debt spending. Aim to pay off these debts ASAP!