Money Management Checklist

• Pay off higher interest debt first
• Open a savings account
• Save at least 5% of your income
• Invest at least 5% of your income
• Invest in tax-deferred savings
• Consider all the costs of a loan
• Pay insurance bills annually or semi-annually
• Do not carry balances on your credit cards
• Do not buy items on credit that depreciate (Cars, vacations, clothes)
• Use and understand all the employee benefits offered to you
• Shop carefully for any financial services you use. Get recommendations.
• Don’t invest money in things you don’t understand
• Only insure items that can result in major losses
• Research products, loans or services before you buy or invest
• Make a list when you shop and stick to that list.
• Never take a balloon payment loan
• Negotiate your credit card rates
• Get rid of extra credit card
• Use a debit card instead of a credit card
• Do not use retailer credit card