Financial Plan
What is the best financial plan for a low income individual?
I'm a young adult looking for a job I am only 18 making 450 dollars a month? what should be considered necessity and things I should do to help myself?
Here are some simple suggestions:
--Learn a skill that is in demand. This may require that you go to your local community college. If so, do it.
--Work hard at whatever you do in order to impress your boss. That should help you to increase your salary.
--Work overtime if it's available. That will increase your income.
--Develop a budget for yourself. Figure those things that are necessities (such as basic food and rent) from those things that are luxuries (going out drinking, buying a muscle car, etc.)
--Don't live beyond your means. If you earn $450 a month, don't spent $500 a month.
--If you use a credit card, pay off the balance each month. Never make a late payment. Don't pay only the minimum payment.
--Don't do anything foolish that will get you into trouble, such as co-signing on a loan for a co-worker.
--If you boss offers a 401K retirement plan, contribute money into it. Always try to set aside a little bit of money for your future.
--Get married and have kids when you can afford to, not before.
--Don't loan money to friends or borrow money from them.
