Weekly Video Finance news summary (2 mins)Jul
15
2007
Ten top tips for your 20s (pt.2/5)
Author: nobelfinance- Get a habit Speaking of habits, saving isn’t the only one you should be fostering. “Getting together a budget or money plan is the best way to get into the habit of living within your means,” say Sheila Freeman and Helene Richards, co-authors of Money Management for Women (UNSW Press).
- Deal with the ‘credit monster ‘While it may make you feel better, binning your credit or store card statement without opening it is a recipe for disaster. “Aim to pay off the cards,” say Freeman and Richards. “Hit the ones with the higher interest first and always make more than the minimum repayment.” It wouldn’t hurt to take a look at your spending habits at the same time — earning your first decent pay cheques can bring out the shopaholic in all of us, but stopping for a moment to ask yourself if you really need that 75th handbag might make a difference to your bank balance.
