Show Me The Money
Personal Money Management
Unlike professional athletes, you don't need a sports agent to show you the money. Taking Control of Your Finances, a helpful, free publication from the Federal Deposit Insurance Corporation (FDIC) and the Federal Citizen Information Center, can help get you started on making the most of your money.
This handy publication contains practical guidance for anyone, even if you've been managing your money for years. But it's especially geared for young adults, including those just beginning a career or a family and others still in high school or college.
For example, the booklet gives you easy ways to start saving money today. Try to use your bank's ATMs or those owned by institutions that don't charge for a withdrawal. If you can, pay credit card balances in full at the end of each cycle to avoid interest charges. Pay close attention to your bank statements and monitor your spending habits. And, arrange with your bank or employer to automatically transfer a certain amount of money each month to a savings or investment account.
Once you start increasing your savings, the next step is to make sure that your money is safe. Find out how FDIC insurance protects your accounts. Also, protect yourself from identity theft. Keep your Social Security number, bank account and credit card numbers private. Never provide these numbers in response to an unsolicited phone call, fax or e-mail. Scam artists often look legitimate when they're "phishing" for your financial identity.
Wrap things up by taking the 10-question "Financial Aptitude Test" included in the booklet to see where you might need more financial help.
Learn other common money mistakes and how to build a solid financial future with Taking Control of Your Finances.
Send your name and address to the Federal Citizen Information Center, Item 676M, Pueblo, Colorado 81009 to get your copy of Taking Control of Your Finances.