The Money Book has taught me more than I thought I could learn. Before reading this book I thought I knew almost everything I needed to know at my age about money and finances. Yet, after reading this book I found I was mistaken. I knew how to effectively and efficiently save but I didn’t know much about investing and retirement plans. Before reading this book I was always watching how I spent my money, not eating out every day, only getting Starbucks on special occasions. This was all I thought I needed to do, but after reading this book I realized I was very wrong, there is so much more I need to know and be doing in order to be financially stable in my near future.
This book is not what I thought it would be at all. At first I thought that The Money Book was just going to tell me to save, save, save. Yet, this book was more realistic than that. This …show more content…
The number one thing that factors into long-term investing in my opinion is paying your credit card bill on time. Paying your bill on time is the most important thing, because if you don’t you are creating more debt, not more money for yourself. Not paying your bill on will decrease the success of long-term investing. Next factor that has an impact on investing is 401k. When you invest first in your 401k to receive the company match from your work. Many companies will match, up to a certain amount of what you invest into your 401k. After you’ve invested the maximum amount that your work will match, start saving. Having a savings account and spending wisely is the next big factor in long-term investing. Next step would be to invest in a low-risk CD (certificate of deposit), this is a great way to save. You won’t be able to touch your money for a certain amount of time (and in my case this would help me save even
This book is not what I thought it would be at all. At first I thought that The Money Book was just going to tell me to save, save, save. Yet, this book was more realistic than that. This …show more content…
The number one thing that factors into long-term investing in my opinion is paying your credit card bill on time. Paying your bill on time is the most important thing, because if you don’t you are creating more debt, not more money for yourself. Not paying your bill on will decrease the success of long-term investing. Next factor that has an impact on investing is 401k. When you invest first in your 401k to receive the company match from your work. Many companies will match, up to a certain amount of what you invest into your 401k. After you’ve invested the maximum amount that your work will match, start saving. Having a savings account and spending wisely is the next big factor in long-term investing. Next step would be to invest in a low-risk CD (certificate of deposit), this is a great way to save. You won’t be able to touch your money for a certain amount of time (and in my case this would help me save even