Human Resources
Too many times organizations take both "humans" and "resources" for granted.
At Centsability, we believe the best way to alleviate this is by making resources that are geared for real humans. You know the kind we're talking about.
We can do that here. We are trained educators, and like you, we are humans too. Also like you, we only have 24 hours in a day and we don't really want to spend all of them committed to serious things like budgeting, savings, and learning about strategies that help us reach financial milestones.
we do have a little bit of time. And we would encourage you to spend 10-15 minutes per day on yourself by taking our mini-courses that will turn you into a financial guru - the one who actually knows why a 401(k) can be a smart thing to do, even at 25 years of age, or the one who knows why it makes sense to make a small micro-payment in addition to your regular credit card payment. Pretty soon, you'll be the one that your co-workers seek out to find out what the heck a flexible spending account is. Imagine the possibilities!
Fundamental to a sound financial footing is knowing where your money is going. Budgeting helps you see your sources of income less your expenses.
An emergency fund should be a relatively liquid sum of money that you don't touch unless something unexpected comes up.
Ensure you are contributing enough to your employer-sponsored retirement plan (if available) to get any matching funds from your employer (if they offer them).
After you ensure you're taking advantage of your employer match, you should use your extra money to pay down your high interest debt.
The next step is to contribute to an IRA for the current tax year. You can also contribute for the previous tax year if it's between January 1st and April 15th.
After you've funded an IRA, if you still have money you want to put away for retirement then you should go back and round out your contributions to your employer-sponsored account.