4. Start an Emergency Fund
No matter what your financial situation is right now you MUST begin to put money away on a consistent basis as an emergency fund. Whether you have student loans, high credit card debt, or just feel like you don’ t make enough
money, not having an emergency fund is like driving a car with no brakes. There is absolutely No reason why you can’ t start saving NOW! Start with $1 or $100; the key is to begin the habit so eventually it becomes automatic.
5 . Become Tax Smart
Today, more and more people are getting in trouble with our dear old uncle Sam so it’s important to understand how taxes work.. Specifically Income Tax. Also, in order to budget your money appropriately you must understand that
whatever you receive as a salary is not necessarily what you are going to take home. Understanding how much payroll tax, social security, etc; is being taken out each pay period will give a better baseline to create a budget.