Financial Advice From The Experts

Most of us would like to know how to handle our money better. Try this advice from several financial experts on the Student Loan Hero website:

• Track your net worth. Don’t rely on guesswork. Make sure you always know exactly how much money you have to work with. Monitor your earning and your spending so you can make better decisions on what to buy and how much to save.
• Start investing early. You don’t need a lot of money to start taking advantage of compound interest. Invest in your employer’s 401(k) plan as soon as you’re eligible, and look into index funds and Roth IRAs (individual retirement accounts). The money you set aside may be modest now, but it will grow over the long term and be there when you need it.
• Be careful with credit cards. Resist the temptation to pay only the minimum amount and let your debt pile up month after month. Pay in full every month to avoid drowning in a sea of interest payments. If you can’t afford to pay cash for something, don’t buy it.