Career Ahead Ė Young ProfessionalYouíve worked hard to get hereĖ the start of a promising career. A few strategic decisions now can ensure your security years from now. Remember that every dollar you save in your twenties works 10 times harder than the money you might save in your 40s. Thatís the advantage of compounded earnings. So take advantage of the extra saving power provided only to the young.
Secret to happiness: live within your means.
Plan for the unplanned.If you havenít established an emergency fund, make it a priority. Itís a lot easier to face lifeís surprises when you have a little cushion.
Make savings a priority.Youíve worked hard and you deserve some rewards. But, ignore the urge to over-indulge. The more you save now the less you have to stress about money in the future. Skip a few expensive meals, take vacations a little closer to home, and share expenses with a roommate. Then save that extra cash. Ask about our CDs and Roth and traditional IRAs.
Set some goals.Itís a lot easier to save, when you have short and long-term goals. Do you want to own a home? Do you want to go back to school? Whatever your goals are, you can meet them with smart budgeting and pro-active savings. Check out our CDs. They are an excellent saving tool for short-term and mid-term goals.
Leverage your employerís benefits.If your job offers a matching 401K or employee stock options, take advantage of them. A 100% match on a 3% 401K is the same as a 3% raise, but only if you do it.
Borrow wisely.You have to borrow to build your credit history. When you do, make sure itís a small amount you can repay early. If you have a credit card, pay it off every month. You donít want to service debt for a meal you enjoyed six months ago. If youíre planning to borrow in the near future, talk to us. We can help you compare rates and guide you in repairing or improving your credit history.
Track your credit score.Did you know a prospective employer might check your credit history? The world of credit scores can be murky. You would think that closing a credit card would increase your score. In actuality, it can hurt it. While you may never understand credit scores completely, you should definitely be aware of them. Credit card companies are required to give you a free report yearly and in the event of a loan denial. There also are several monitoring services available. So stay alert. If you have questions about a credit report or score, talk to your VistaBank representative.
Safeguard your identity.In the world of hacking, no identity is entirely safe. Make sure you protect yours. Never respond to a request for information, unless you confirm the source. Always shred sensitive information. Be proactive. If youíre concerned about identity protection, talk to a VistaBank representative.