someone HELP!!!!
2007-07-16 15:02:15 · 7 answers · asked by thepro23 1 in Business & Finance ➔ Personal Finance
Dont be deliquent on your bills but learn to pay yourself first. I highly reccomend you read the book Rich dad, Poor dad and you will understand what I mean. I was told to read it asl ong time ago and I never did until recently. I totally regret not reading it before. As a matter of fact that I gave that book to 3 of my cousins who just graduated high school this year.
2007-07-16 19:18:58 · answer #1 · answered by ve25 1 · 0⤊ 0⤋
You need to pay off your essential bills (living, heating, food, etc). If you have credit card debt, you should try to pay off as much as you can but still investing in a retirement account. Your best asset right now is that you have almost 40 years of compounding ahead of you. Hopefully in the future you will be making more money and will be able to pay off credit cards. I do not recommend getting into more debt just to invest in retirement though. It just really depends on your situation.
2007-07-16 22:06:51 · answer #2 · answered by Andrea B 3 · 0⤊ 0⤋
BOTH!
Pay yourself first. Put money into your company's 401(k) or a ROTH IRA. Try to set aside 10%.
Also, you want to build up a cash emergnecy fund. $1,000 is a good starting point.
Then, spend less than you have leftover. If you are spending more than the 80% (less taxes) then you should adjust your spending.
If you can't do all of this at once, then take it slowly. Build up your emergency fund first, then start on your retirement. The money you put in at your age will grow to an amazing amount by the time you retire.
Form more info, see Dave Ramsey's website.
2007-07-16 22:18:05 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Pay your bills on time ! The worst thing you can have is a wrecked credit score. Even if you pay on time, carrying costs on a debt generally exceed what you can make by investing the difference.
2007-07-16 22:06:06 · answer #4 · answered by acermill 7 · 0⤊ 0⤋
Paying your bills IS investing in your future. Without good credit, you have no future.
2007-07-16 22:22:47 · answer #5 · answered by julescarecrow 3 · 0⤊ 0⤋
Pay your bills first, then work on investing. It's a LOT easier to save money if you don't have any debt....
2007-07-16 22:06:09 · answer #6 · answered by J H 2 · 0⤊ 0⤋
well it depends on wat u wana do.do u like da way ur livin.jus payin bills, workin, then goin bak home?ask ur self.is dat realy wat u want?
2007-07-16 22:10:31 · answer #7 · answered by anna d 1 · 0⤊ 0⤋