When I got out of college, I immediately got an Elder-Beerman’s credit card (a Midwestern department store – are they still around?) In about five minutes I had already maxed it out – an entire $500! Someone wise (supposedly) told me to get the card, so that I could “start building credit.” I think by “building” they meant “destroying!”
It never got that bad, but I made some key mistakes in my early twenties that took well into my 30’s to straighten out. So, in that vein, we humbly present “10 Things Everyone Should Know About Money”, courtesy of US News Money. Here are the bullets:
- You have to earn more than you spend.
- Saving early will help you save more.
- Higher rewards mean higher risk.
- Diversification is your friend.
- Protect yourself from scam artists.
- Insure yourself against rainy days.
- Automate savings.
- Minimize your debt load.
- Track your credit score.
- You’re never done learning.
Sad that SO many of these are totally common sense (I should EARN more than I SPEND?) But kids these days… well heck, we were all kids once. Anyway, a lot more details at the original piece, so you know what to do.
How about you? I told you MY dumb money mistakes, circa 1988, so share some of yours over at the MindField Online Facebook page. And have a great weekend!
