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Life changes as time passes by. One minute you find yourself partying every weekend, shopping endlessly, and living the 20-something dream then next minute you’re planning your grown-up life. The grown-up life is not bad at all, most women I know look forward to moving out, planning a wedding, having kids, and making major career moves. The most daunting part of growing up is becoming financially independent. It’s hard and trusts if Wall Street is having problems with finances, who’s you? So, to comply with the grown-up rules, this weekend I worked on creating a short and long term financial plan that will allow me to save money, pay bills, and plan for those lovely getaways that I really need to take. Here are a few tips; I learned that can help you adjust to the grown-up life.
1. PAY YOURSELF FIRST – just as business people are advised to do, pay yourself first. You work very hard putting in 60 hours at work, taking demands from your boss, and attempting to get home in one piece after navigating the NYC subway. Whether it’s $50 dollars to treat yourself to dinner on a Saturday night or $100 to spend an hour at the spa, it’s a treat well-deserved.
2. GET RID OF USELESS CREDIT CARDS – it makes no sense to have 10 different credit lines that is serving the same purpose (clothes). If you have a credit card for the GAP, Macy’s, and Bloomingdale’s choose one that you use often and cancel the others. Most credit cards are nothing but high interest rates with no financial value. Pay your cards in full and say goodbye.
3. USE YOUR CARD WISELY – Use your credit card for major purchases like that Jay-Z concert you wanted to attend, or that mac book pro you need for class. Credit cards shouldn’t be swiped at for minor purchases like fries from McDonald’s, a magazine from Barnes and Nobles. Just like there’s an app for that, there’s also a debit card for that or even cash.
Chief-n-Chic 