Spend like a millionaire
St. Louis, MO (PRWEB) August 13, 2013
Financial wellness firm, Four Seasons Financial Education, was recently invited on Fox 2 news to discuss financial tips for recent college graduates. Company president, Travis Freeman, who is also a board-Certified Financial Planner and author, shared some of the firm's best practices for these young professionals.
As the attached TV interview shows, below are a few of the tips:
1) Take advantage of low expenses. If the parent's basement is where you may call home for the months ahead, use as much money you can to pay down high-interest debt such as credit cards. Student loans at rates below 7% may not be priority #1, so save, save, and save some more. You likely won't have this opportunity again.
2) If you want to purchase your first home, put as much money away as possible while we are still in a depressed real estate market. Prices may start increasing rapidly in the years ahead. Mortgage rates may also do the same. But don't buy too much house. Don't forget you may also need money for large expenses such as a car, wedding, or even children.
3) If your employer has a 401(k) plan with a match, it may be better to take the match then focus on debts. Ideally, you would do both, but a match may provide a larger benefit than saving on interest from debts.
4) Spend like a millionaire. Some of the wealthiest people in the US keep their spending low and save or invest much of their income. If you spend 100% of your pay, you haven't left anything for your future. Try to save as much of your income as possible and build good spending habits today. You may find yourselve a millionaire one day.
About Four Seasons Financial Education
Four Seasons Financial Education provides workplace financial wellness and education services to companies throughout the US to help them improve their bottom line. We take a strictly academic approach to financial education and focus on the core areas of personal finance which may help increase employee productivity and organizational performance. Securities and advisory services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.