Wednesday, July 3, 2013
We all want to be responsible when it comes to money. That means you need to live by sound money principles that allow you to build a stable future for yourself and your family.
Maitland Greer from Manilla.com says there are a number of personal finance rules to live by:
1. Build an emergency fund. You should save three to six months of your total expenses in case you lose your job or a have home or health issue.
2. Protect your family with life insurance. You should have five to six times your salary to make sure your family is protected if you are the breadwinner.
3. Negotiate whenever it is an option. You should always negotiate. It never hurts to ask for a deal whether you're buying a home, a car, or living room set.
4. Start early to save for retirement. When you're in your twenties and thirties, retirement may seem far away. But it will sneak up on you before you know it. Start saving by looking into 401(k) plans your employer may offer.
Click on the link for more of Greer's suggestions.