Top Money Tips At Any Age

Dated: 02/04/2019

Views: 42

We can’t get through life without navigating money, but where your financial focusdepends, in part, on where you are in your life. Here are some helpful financialmanagement tips by decade:

 20-30 years old:- Maintain a meticulous budget. Apps like Mint.com can help you track expenses.- Set up an emergency savings account with 3-6 months’ worth of living expenses.- Transfer credit card balances to a 0% card and focus on paying it off.- Begin paying down student loans and other debt.

 30-40 years old:- Contribute to a retirement account. Maximize employer matching plans.- Actively build assets by investing in stocks, bonds, and real estate.- Keep a low credit card balance with an eye toward increasing your credit score.- Open college savings accounts for children.

 40-50 years old:- Review and realign savings goals for your current lifestyle. Use a life expectancycalculator to help reach retirement goals.- Create a plan to pay off your mortgage by the time you retire.- Protect assets and earning power with supplemental life and disability insurance.

 50-60 years old:- Track monthly spending. Make adjustments as needed to prepare for retirement.- Consider circumstances like geriatric parents who may need financial assistance.- Put extra effort toward eliminating debt. Pay off credit cards in full every month.

 60+ years old:- Ensure all investments are in low-risk plans to protect assets.- Manage money meticulously and maintain access to credit so you’re ready forunexpected expenses.- Downsize as appropriate and focus on

Visit porchlifeon30A.com for more financial tips on buying or selling property.

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Steven Jackson

Steven helps Clients buy and sell vacation and second home properties along 30A and South Walton, giving them confidence in a local, reputable Agent. Steven’s work ethic begins by being of maximum ....

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