ESSENTIAL FINANCIAL TIPS FOR YOUNG

ADULTSFINANCIAL EXPERT JAMESON VAN HOUTEN SHARES WHY IT IS IMPORTANT

FOR YOUNG PEOPLE TO MAKE STRONG FINANCIAL DECISIONS AND HOW

THEY CAN START IN 2016.

UNDERSTAND THE VALUE OF MONEY

• BEFORE MAKING LARGE, SPUR OF THE MOMENT PURCHASES, IT IS IMPORTANT THAT YOUNG INDIVIDUALS REALIZE HOW MUCH THAT MONEY REALLY MEANS TO THEM.

. They must understand how many hours will need to be

worked before they earn that amount again, and where that money could be better spent. If the money can be of more benefit spent in a different

way, those options need to be considered.

START RETIREMENT PLANS EARLY•  THOUGH NOT EVERY JOB WILL OFFER BENEFITS LIKE A 401(K)

PLAN, SOME MIGHT. INDIVIDUALS WHO HAVE A POSITION THAT

OFFERS THEM THESE BENEFITS SHOULD BE SURE TO TAKE

ADVANTAGE OF THEM. THOSE WHO DO NOT HAVE A 401(K)

OPTION CAN STILL BEGIN PLANNING, AND CAN INVEST

PART OF THEIR PAYCHECK INTO AN IRA.• THE EARLIER THAT AN INDIVIDUAL STARTS, THE EASIER IT WILL BE TO SAVE UP FOR

RETIREMENT AND HAVE A SIZABLE FUND. A FEW YEARS CAN MAKE ALL THE DIFFERENCE.

BE SMART ABOUT CREDIT• IT CAN BE VERY APPEALING TO YOUNG

ADULTS WHO HAVE BEGUN RECEIVING OFFERS FOR THEIR FIRST CREDIT CARDS AS

THEY SEE IT AS AN OPPORTUNITY TO GET THE THINGS THAT THEY WANT NOW

WITHOUT HAVING TO WORK LONG HOURS TO GET THEM. HOWEVER, MANY DO NOT

REALIZE JUST HOW HARD PAYING BACK ALL THOSE CARDS CAN BE, AND THEY MAY FIND

THEMSELVES IN CRIPPLING DEBT BEFORE THEY REALIZE IT.

• CREDIT CARDS SHOULD BE USED SPARINGLY AND RESPONSIBLY, AND INDIVIDUALS SHOULD ALSO LIMIT THE NUMBER OF CARDS THAT THEY ARE USING TO AVOID LOSING TRACK OF THESE FINANCES.