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Monday, June 15, 2015

First Paycheck Potential and Possibilities

If this is your first job or first paycheck congrats on finding this post!


I wish I would've known what I'm about to share with you when I had my first job and earned my first paycheck. It's tooken me hours of studying and many many money failures to learn what I'm about to share with you so take notes and read often and most importantly apply what you read and you will succeed so much faster with your financial goals than most that are in their 30-40's.

1. save 10%, give 10% (to your local church or community organization you support or believe in)
live off of the rest
2. do not use credit cards if you can't pay it in full each month than don't swipe that card unless you like to use other peoples money and pay them 10- 25% interest so you can have something u didn't really need or couldn't afford trust me it's not worth it
3. live within and even below your means save more than 10% if you can
4. learn to wait and be patient a very valuable skill if you want to succeed in life and not spend all your money on debt
5. stay out of debt avoid costly loans
6. get a 0% interest credit card or low interest loan and pay it off fast to improve your credit score or establish your credit only if you plan on getting a home mortgage but that's not the only option for home buying (click this link for that post)
7. do not blow all your money on your friends or be their lender very dangerous make friends who are wise and smart with their money as you are
8. learn about deductibles very important (click this link for more on deductibles and taxes) this is what the government takes out of your check each paycheck
9. take advantage of employer benefits and actively use and manage them (more on that right here)
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