If you are uncertain about the Roth IRA or traditional IRA, read this article by CashMoneyLife. I have also reference some of my other posts below. This is a very important idea to understand, especially for young investors and students right out of college who are looking for ways to save and invest extra cash.
Cash Money Life - Roth or Traditional IRA
You may also want to read:
This is a very creative infographic from BillShrink. It basically talks about how one can take control and ownership of ones finances to get back on the track the financial freedom. The basic principles of taking ownership, watching your spending habits and reducing unnecessary spending are the key points of this. Check it out; done in an interesting way.
Step 1:
We have admitted we are powerless over the economic downturn – that our financial lives have become more difficult to manage.
Step 2:
We have come to realize that we are in control of our own financial future.
Step 3:
We have made a decision to turn our financial lives around.
Step 4:
We have made a searching and fearless inventory of our personal budgets.
Step 5:
We have admitted to ourselves and to another human being the exact nature of our financial irresponsibility.
Step 6:
We are entirely ready to remove all these extraneous expenditures from our budgets.
Step 7:
We have sought to remove each of our financial shortcomings.
Step 8:
Made a list of all unnecessary expenditures, and became willing to make difficult changes to reduce them all.
Step 9:
We have made direct amendments to our spending wherever possible, except when to do so would compromise the wellbeing of our families or ourselves.
Step 10:
We continue to take personal financial inventory and when we identify unnecessary spending, we promptly eliminate it.
Step 11:
We have sought through meditation to improve our conscious contact with our inner-spender, seeking the power to carry out the actions necessary to cut our expenditures.
Step 12:
Having had a financial awakening as the result of these steps, we will try to carry this message to other over-spenders, and to practice these principles of fiscal prudence in all our affairs.
