Once you become an adult there is a lot you are expected to know in terms of managing your finances.  You are expected to have credit or better yet good credit.  Bills are expected to be paid on time.  There is an expectation that you should be good with money.  There are certain accounts that you should know what they are and have in your name; accounts like checking, savings, and retirement accounts.

At some point you come to the realization that money in fact does not grow on trees and you must work for every dollar you get.  Just as you saved every little bit of money as a kid to buy things, so must you do in adulthood.  Things tend to happen where you need to use cash that you had not planned on, which means you must set stuff aside for a rainy day.  At some point in the future you will be expected to live for the rest of your life off of what you were able to accumulate.  With so many things to learn about managing personal finances, lots of adults just have to pick things up as they go.  

It is often said by people that if I knew then what I know now, that they would be so much better off.  So it got me to thinking about what would have been beneficial to me as a youngster in terms of learning about finances.  Below are a list of some of the things that stood out.

Cash is king.  Having cash gives you a certain amount of flexibility, and even allows you to get certain discounts.

Having no debt is a good thing.  Having no debt and no cash is a bad thing.

Planning for retirement and putting away funds should be done as soon as possible.

Saving money is a must.  The best thing to do is automate savings so that way you do not have to worry about setting funds aside.

Its best to start learning about investing early on, that way you have more time to benefit from success or recover from lossess.

Credit can be a great tool if used wisely.

Money is also a tool and must work for you.



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