Tsh at Simple Mom has kicked off the New Year with a series of posts on financial responsibility. Money management is fun, right? Okay, maybe not, but it’s hard to not appreciate when someone can make managing money as painless and simple as possible. According to Tsh, there are seven “baby steps” involved:
- Quickly save $1,000 as your beginning Emergency Fund.
- Pay off all your non-mortgage debt using the Debt Snowball method.
- Save 3 to 6 months of expenses, completing the Emergency Fund from step 1.
- Invest 15% of your regular household income for retirement.
- Create a college fund for your children.
- Pay off your house.
- Build wealth and give.
Read the rest at SimpleMom.
Photo by Pewari Naan.
