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Thursday
Apr 24th

The blessed child

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By Jo Ann Brown

You currently live at home, have no children, work a forty hour per week job making $12 per hour and don't have a car loan. Your part-time college tuition, if any, is being reimbursed by your job or parents. You currently bring home $368 per week. What do you have to show for your earnings? You currently live at home, have no children, work a forty hour per week job making $12 per hour and don't have a car loan. Your part-time college tuition, if any, is being reimbursed by your job or parents. You currently bring home $368 per week. What do you have to show for your earnings?

Good money management requires you to "pay yourself first." Make sure that you have part of your earnings going into a savings account before you receive your check. Good money management also requires that you live on half of your take home pay. Consider using the following budget as a guide.

Budget:
Allowance - $200
Parents - 200
Cell phone - 40
Savings - 100
Misc. - 132

You should pay your parents a minimum of $200 monthly for the things that they provide such as a home-cooked meal, furniture, television(s), gas and electricity. You should not squander your income and develop bad spending habits. You have a miscellaneous budget of $132 monthly that can be used for your shopping sprees.

You have created three saving streams – your job, part of your take home pay and the other half of your money that you learned to live without. Your savings are now assets. Learn how to invest wisely.

Soon you will be eligible to participate in you company's 401(k) plan. Using the mutual funds listed, develop a watch list. Monitor the performance and become prepared to purchase. Once you accumulate $2,500, your private savings should also be invested in a mutual fund. The book provides the basic fundamentally sound advice of "pay yourself first." You work hard for your money. Now let your money work hard for you. Go to the website www.jab401k.com today and order it.
 

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