Be financially literate

Untaintedbliss's avatar image
Untaintedbliss's Goal

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Know how to keep my score above 700, differences between a 401(k) and a 403(b), Roth IRA's, plain IRA's and SEP accounts, and what exactly a no-load mutual fund is! 

& whatever I need out in the real world! 

So far I know these...

401K - I volunteered to attend this financial/insurance group mini conference. I learned that in 401K (with the economy we're in), it is only practical to match my contribution vs. whatever the company I'm woking at is putting in.

For my credit score- pay my bills early (on automatic deduction most of it, paying beyond my minimum)

- keeping my balance vs. credit limit b/w 5-25%

- don't cancel credit cards once I payed the balance off (my big mistake before, not only did I have fun cutting them, I cancelled them all!! eradicating them completely is a NO NO!) -- aim is to have a good amount of credit limit

- tackle the biggest APRs first, making new loans all the time will hurt it... like cheese, my credit line gets better with age!

- gotta pay off my student loans -- no forgiveness, can't file econ. hardship (only goes away when i'm 6 feet under! i hear they're trying to pass a legislation to sort of give it a breathing room *crossing my fingers*)UPDATE! new law passed!! lower rates for all including parents ;-) hopefully, i can get the lowest...at 3.9%!!!! 

 

 


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