Five Things You NEED To Do With Your Money ASAP!
According to Suze Orman on today's Oprah, here are "5 Things You Need To Do With Your Money ASAP!":
1. Make sure your money, your savings, is safe by ensuring your deposits in your accounts are FDIC insured and under the insured limit (NCUA insured for Credit Unions). If you don't want to keep your money in a savings account with a bank or Credit Union, invest in Government-backed Treasury bonds/money market accounts that are guaranteed regardless of the amount.
2. Pay down your CC debt immediately and timely! Creditors are tightening their belts, reducing lines of credit and reporting everyone who pays late to the Regulatory Bureaus and even one late payment can RUIN your credit history for the next 7 years!
3. Get health and term life insurance (The #1 reason for bankruptcy in America is due to medical bills) and do whatever you have to in order to keep both your health and life insurance policies, even if this means getting a second job for double-coverage or cutting out your cable television!
4. Continue contributions to your retirement plan (as the market goes down, your investments can purchase more shares AND when the market goes back up, your money will be worth a whole lot more).
5. Stop spending money on things you can't afford. Live within your means and value who you are more than what you have.
1. Make sure your money, your savings, is safe by ensuring your deposits in your accounts are FDIC insured and under the insured limit (NCUA insured for Credit Unions). If you don't want to keep your money in a savings account with a bank or Credit Union, invest in Government-backed Treasury bonds/money market accounts that are guaranteed regardless of the amount.
2. Pay down your CC debt immediately and timely! Creditors are tightening their belts, reducing lines of credit and reporting everyone who pays late to the Regulatory Bureaus and even one late payment can RUIN your credit history for the next 7 years!
3. Get health and term life insurance (The #1 reason for bankruptcy in America is due to medical bills) and do whatever you have to in order to keep both your health and life insurance policies, even if this means getting a second job for double-coverage or cutting out your cable television!
4. Continue contributions to your retirement plan (as the market goes down, your investments can purchase more shares AND when the market goes back up, your money will be worth a whole lot more).
5. Stop spending money on things you can't afford. Live within your means and value who you are more than what you have.
